Galloway speaks in soundbytes, tossing out one-liners and sweeping statements on a range of subjects for which he might have a lot, or not so much, direct expertise. In other words, he may get under certain VCs’ skins because he uses the same gift of self-promotion as they do — just not to relentlessly hype companies.
One area where Galloway and his critiques might even agree: that there’s a problem with the news industry. Only for Galloway, his quibble is that business news is too optimistic. For some, technology is a new religion, Galloway claims; its entrepreneurs and billionaires become the new-age saints.
“The media is just a reflection of what America wants. And America wants to believe that we have these new heroes called innovators,” Galloway says. “You need optimists to build a plane, but you need pessimists to demand seatbelts. And there aren’t a lot of pessimists out there.”
But Galloway doesn’t expect VC-backed alternatives to fill that void. He brings up Clubhouse, the voice-based app backed by Andreessen Horowitz, most recently at a $4 billion valuation. And doing so, it’s easy to see why Galloway’s claim that he is simply providing the ecosystem with “thoughtful, civil discourse” is itself a stretch.
“No one, including the investors who put money in there, believes that thing is worth $4 billion,” Galloway says of Clubhouse. “They’re all just trying to maintain it, chasing their hallucination. They’re hoping that somebody else takes another gulp of the Ayahuasca so that they can sell it to Twitter or someone else.”
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