Invest Like The Best
Episode 270 Life, Leadership, and LBOs
Invest Like The Best

Episode 270: Life, Leadership, and LBOs

Invest Like The Best

Episode 270

Life, Leadership, and LBOs

David Rubenstein is the co-founder of The Carlyle Group. We cover David's approach to building Carlyle, the most valuable lessons he learnt from some of the world's greatest leaders, and why he places such importance on history, writing, and giving back.

This episode is brought to you by:

Tegus. Tegus is the new digital hub for market intelligence. The Tegus platform empowers Investors and Corporate Development teams to invest smarter by pairing best-in-class technology with the highest quality user-generated content and data. Find out why a majority of the top firms are using Tegus on a daily basis. Head to tegus.co/patrick for your free trial.

Vanta. Vanta has built software that makes it easier to get and maintain your SOC 2, HIPAA or ISO 27001 reports at a fraction of the typical cost. Listeners can redeem a $1k off coupon at vanta.com/patrick

[00:03:02] - [First question] - What his perspective on the world today is compared to the last forty years

[00:05:35] - The long term implications of the Ukraine war on a global scale

[00:07:54] - Concerns and thoughts on the US’s role in a radically different world

[00:10:07] - How inflation and reduced globalization impacts business behavior in the US

[00:12:58] - Why he chooses to learn by listening to people who are incredibly versed in their respective fields and what started it

[00:14:11] - His method when interviewing people and how it’s changed over time

[00:15:03] - How his interest in leadership as a topic began

[00:17:55] - The time he was the most personally in awe of a leader

[00:19:05] - The most basic ingredients for strong leadership

[00:21:34] - Learning from Oprah and developing his own interviewing style

[00:24:25] - His leadership style while running Carlyle and key variables that drove Carlyle’s success

[00:28:41] - The ways that were most effective in terms of investment for Carlyle’s brand

[00:29:50] - How should a new investor think about the relationship between government and business

[00:31:25] - Best ways for a business to interact with the government and common traits of those who do it well

[00:32:17] - What he’s learned about leadership that he thinks is the most portable for other people

[00:34:04] - His interest in masters of leadership and what he has learned from them

[00:35:08] - How Carlyle retained their talent and building relationships with LP investors

[00:37:20] - Lessons from working in media with what worked and what didn’t

[00:38:55] - How he approached writing How to Invest

[00:41:13] - The importance of intuition when evaluating backers and why geniuses aren’t always chosen

[00:43:04] - Big aspects of American history and why he finds it so interesting

[00:44:17] - Key drivers of American outcomes and biggest areas for improvement

[00:47:00] - Lessons he learned going from humble beginnings to amassing wealth and how he’s teaching his children about it

[00:49:20] - The state of private equity and what are its best and highest functions today

[00:51:03] - Experience and impressions on the emerging cryptosphere

[00:52:25] - What makes for a good chairman and why he is always drawn to that role

[00:53:42] - The most interesting system outside of the US that he’s observed

[00:55:33] - What he has learned about being a giving pledge signer and philanthropy

[00:57:02] - His interest in Monticello and the Magna Carta

[00:59:13] - View on how speeches from leaders have changed over the years

[01:01:24] - What subject he would write his next book on

[01:03:58] - Thoughts on the line between giving your life for your country versus your state

[01:06:10] - Looking back on his career at a time where he felt the most alive

[01:08:07] - The kindest thing anyone has ever done for him

Life, Leadership, and LBOs

Introduction

Patrick
My guest today is David Rubenstein, co-founder of the Carlyle Group, one of the largest private equity firms in the world. David has worked in the White House, built a $300 billion investment institution, become a prominent philanthropist, publish books, and even host his own TV show. It was a thrill to sit down with him and cover the whole spectrum of his experience as a father, investor, historian, and titan of American business. Please enjoy this great conversation with David Rubinstein.

David's Perspective on Today's World

Patrick
David, as you review all the things you've done with your life, one of the underlying themes that's very consistent is I would classify you as an American patriot of sorts, that so much of your interest and work and writing and interviews has been in and around the American system itself. And we sit here today at a very interesting time for that system, given that we're all talking and thinking about the war in Ukraine with Russia, the Chinese system, which is very distinct from our own. And I would love to just hear your perspective on the world today, which seems to be much more maybe chaotic and volatile are the right words, than if you compared it to the last 40 years, given your unique of experiences, but also the clear interest that you have in the American experiment and the American system overall.

Access the full transcript
Sign in or register to view episode transcripts.

Contact

Get in touch at help@joincollossus.com