Knowledge Project: #69 Stephen Schwarzman: What It Takes

Podcast Notes Key Takeaways “You have to make deposits during practice so you can withdraw them during game day” – Stephen SchwarzmanLike the medical principle, “First, do no harm,” Stephen’s #1 investment principle is, “First, don’t lose money”Avoiding losses leads to greater long-term wealth rather than constantly seeking the largest returns Discussing a topic with multiple minds is more illuminating than trying to understand it from your perspective alone“Running a great organization is an exercise in lifetime learning of things that didn’t work out” –  Stephen SchwarzmanWhen a problem arises, look at it as an opportunity to improve your thinking process“Never compromise when you’re hiring people. Good enough is not good.” – Stephen SchwarzmanOn choosing what to work on:“You should find a really big idea addressing a really big opportunity. Then, if you win, you win huge.” – Stephen SchwarzmanBig ideas will also excite and attract more supporters than small ideas

Read the full notes @ podcastnotes.org



Subscribe to the Knowledge Project Podcast

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.

---

For comprehensive show notes on this episode, including a full edited transcript, go to https://fs.blog/podcast/

Is your brain hungry for more? Don't miss out! Sign up for our weekly "Brain Food" at https://fs.blog/newsletter/

Follow @farnamstreet on Twitter for mind-expanding content.