Loving Your Process With Stephen Schwarzman | Interrupted by GaryVee 001

TL;DR

Stephen Schwarzman, CEO of Blackstone, discusses his career in alternative investing, philanthropy, and his thoughts on technology and education.

Transcript

• You know, for a large scale organizations, that-- - Really quick, I apologize. - [Stephen] Yeah. - It is "Interrupted By." (upbeat music) We have rebranded my podcast to "Interrupted By Gary V." So I apologize upfront if I interrupt. It's only out of sheer excitement and trying to be as efficient with our time as possible. I'm so exited you're on... Read More

Key Insights

• 🥰 Schwarzman emphasizes the importance of investing in things you love and pursuing opportunities that align with your passions.
• 🛟 Philanthropy and giving back is a significant part of Schwarzman's life, and he has started initiatives in education, AI, and other areas.
• 🧑‍🎓 Schwarzman believes that education needs to evolve to better prepare students for the future, and that the current system is not adequately serving its intended purpose.
• ✊ Technology has the power to greatly increase productivity, but it requires individuals and organizations to adapt and learn new skills.
• 🗯️ Schwarzman highlights the value of patience and waiting for the right opportunity before making significant investments or career moves.
• 👶 Building expertise and surrounding yourself with knowledgeable individuals is important when venturing into new territories or industries.
• ❓ Success requires a combination of confidence, humility, and a willingness to learn from mistakes.

Questions & Answers

Q: How did Schwarzman get started in alternative investing and what does Blackstone specialize in?

Schwarzman founded Blackstone, a global investment firm that focuses on private equity, real estate, hedge funds, and leverage credit. He started the company in 1985 with $400,000 and it has since become the largest in the world for alternative investing.

Q: What are Schwarzman's philanthropic initiatives?

Schwarzman has started various philanthropic initiatives, including the Schwarzman Scholars program in China, which offers graduate degrees in global affairs to students from around the world. He has also contributed to the development of artificial intelligence programs at MIT and Oxford University.

Q: How does Schwarzman view the impact of AI on the workforce?

Schwarzman acknowledges the disruptive potential of AI on the workforce but also sees the positive aspects it can bring. He has made large donations to MIT and Oxford University to support the development of AI technology while also addressing the ethics and impact on society and employment.

Q: How does Schwarzman approach taking risks and venturing into new territories?

Schwarzman advises gaining expertise and surrounding yourself with people who have experience in the industry or territory you want to explore. Learning from others and being open to new knowledge will help build confidence and mitigate risks.

Summary & Key Takeaways

• Steve Schwarzman is the CEO of Blackstone, the largest company in the world for alternative investing. They specialize in private equity, real estate, hedge funds, and leverage credit.

• Schwarzman is also involved in various philanthropic efforts, including the Schwarzman Scholars program in China and initiatives focused on artificial intelligence.

• He emphasizes the importance of investing in things you love and having confidence and patience in pursuing new opportunities.