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The Knowledge Project with Shane Parrish

#69 Stephen Schwarzman: What It Takes

The Knowledge Project with Shane Parrish

Farnam Street

Business, Investing, Entrepreneurship

4.72.9K Ratings

🗓️ 12 November 2019

⏱️ 64 minutes

🧾️ Download transcript

Summary

Blackstone CEO Stephen Schwarzman gives advice on attracting and assessing strong talent, making smart decisions, and how to press forward when the chips are down.

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Transcript

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0:00.0

And I believe the most important decision is to not lose money.

0:07.4

Some people care about the upside.

0:09.6

They don't worry much about the downside.

0:11.4

If they think the upside is great, I like to start the reverse, sort of like a doctor.

0:17.3

You know, do no harm.

0:20.1

Hello and welcome.

0:27.2

I'm Shane Parrish and this is the knowledge project.

0:29.8

A podcast exploring the ideas, methods and mental models that help you master the best

0:34.8

of what other people have already figured out.

0:37.7

As some of you have no doubt already noticed, we've started exploring more diverse subjects.

0:43.5

The knowledge project aims to explore pretty much everything from science and history

0:47.3

to relationships and decision-making, all with the goal of helping you better understand

0:51.6

yourself and the world around you so that you can live a more meaningful and conscious

0:55.4

life.

0:56.6

You truly want to master the best of what other people have already figured out and that's

1:00.4

not limited to one particular domain.

1:02.8

You can learn more in step-to-date on new episodes at FS.Blog slash podcast.

1:08.8

Furnham Street puts together a weekly newsletter that I think you'll love.

1:11.7

It's called Brain Food and it comes out every Sunday.

1:14.8

Much like this podcast, it's high signal, timeless and mind-expanding.

1:18.7

You can read what you're missing at FS.Blog slash newsletter.

1:22.6

Today I'm speaking with Stephen Schwartzman, the CEO of Blackstone Group, one of the largest

...

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