Hey guys, it's Gary Vay, Nerd Chuck, and this is the GaryVee audio experience.

First of all, social media is a slang term. It's a term we came up with, you know, seven or eight years ago.

All it really represents is a term of the apps and websites that the farm majority of human beings pay attention to on the mobile device.

And when you frame it as social media with the empathy that I deploy of who's in this room, it becomes a little bit of an afterthought, maybe post the last political election.

People are taking it a little bit more seriously. But the punchline being is the word of social media.

Literally maybe the worst branded term in marketing today because for the farm majority of the leaders and the players and the movers, the sea sweets, the investors, the power organizations,

it is a term that makes them think afterthought, and then the reality of just pure data of what people spend their time on, it is emerging at the forefront at a level that we've never seen before.

My passion is very simple. I love to say in this moment, I love social media because it sells shit.

To me, it's not something that I'm emotional about. If Facebook or Snapchat or Twitter or here today or tomorrow that is completely irrelevant to me,

the only thing that I'm interested in is where is the end attention of every consumer in the world? And how do I reverse engineer it and arbitrage the message that I'm looking to achieve?

Whether that is to make a buck, whether that is to cure a disease that a family member has, whether that's to run for mayor.

And I genuinely believe that this entire conference has an enormous collective misunderstanding of how far along we are in the reality of this shift.

What I mean by that is I genuinely believe most of you believe this is coming and it's emerging. I do not believe that most people recognize that things that we're seeing in the retail sector, the things that we're about to see at CPG and the things that we're about to see in big media are so much closer than people realize.

If the people in this room understood that some of the investments that I'm involved with, that are PE backed, are running Facebook ads on the propaganda of the companies to be able to create the B2B cell of that company to another financial institution and the success rate that has.

If they understood how buddy media sold for a billion dollars to Salesforce on the back of targeted ads against the decision makers or how there are media companies where we represent the TV shows of those media companies and we run ads against the 84 decision makers that decide who wins a golden globe.

If the people in this room really understood what was happening in this device and on the platforms that represent over 50% of the time of Americans on this device, they would take this far more serious.

If they actually understood how much Facebook targeted ads leads to elections more so than a tweet.

If they understood that right now there's a five billion dollar market for Instagram influencers where pretty people or influencers take a picture with a product and sell them at a scale.

If they understood that what's happened over the last hundred days with retail is not only a preview, it's complete beginning of the end to anybody who has infrastructure at retail with the overhead in leases and brick and mortar because we're just hitting the crescendo.

The internet is just now hitting scale. Windows 95 is when non nerds actually went on the internet. We're only about 20 years into this and we are now fundamentally at scale and we continue to sit here and there's enormous amounts of investing decisions being made on a reality that no longer exists.

Now the problem is within the digital landscape there's a complete mix too. This is not a blanket statement. Snapchat and Twitter's weaknesses have real weaknesses behind their valuations but a Facebook and Amazon world is so strong, so much stronger than people realize and the disruption is so much greater.

So what's basically happening right now is when you factor in the thing that I'm most fascinated by which is right now 80 billion dollars of television advertising is going directly in the trash.

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