Stephen Schwarzman: Going Big in Business, Investing, and AI | Lex Fridman Podcast #96
ฝัง
- เผยแพร่เมื่อ 30 พ.ค. 2024
- Stephen Schwarzman is the CEO and Co-Founder of Blackstone, one of the world's leading investment firms with over 530 billion dollars of assets under management. He is one of the most successful business leaders in history.
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EPISODE LINKS:
What It Takes (book): amzn.to/2WX9cZu
PODCAST INFO:
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Full episodes playlist:
• Lex Fridman Podcast
Clips playlist:
• Lex Fridman Podcast Clips
OUTLINE:
0:00 - Introduction
4:17 - Going big in business
7:34 - How to recognize an opportunity
16:00 - Solving problems that people have
25:26 - Philanthropy
32:51 - Hope for the new College of Computing at MIT
37:32 - Unintended consequences of technological innovation
42:24 - Education systems in China and United States
50:22 - American AI Initiative
59:53 - Starting a business is a rough ride
1:04:26 - Love and family
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I really enjoyed this conversation with Stephen. Here's the outline:
0:00 - Introduction
4:17 - Going big in business
7:34 - How to recognize an opportunity
16:00 - Solving problems that people have
25:26 - Philanthropy
32:51 - Hope for the new College of Computing at MIT
37:32 - Unintended consequences of technological innovation
42:24 - Education systems in China and United States
50:22 - American AI Initiative
59:53 - Starting a business is a rough ride
1:04:26 - Love and family
Love and Family - Last.
That about sums up the top capitalists' plan for all of us.
Next time you have him on, you should ask him about how he stole money from workers by bankrupting their pension funds in Kentucky. The guy is a criminal. Financiers are not good for society and they are parasites.
Schwarzman is not an apologist for CCP. I lived and worked 3 years in China. I recommend you do the same then express what you think. LEX managed to get into depth of several layers of wisdom w Steven and made him accessible to you and me. You should thank Lex.
@@RogerBarraud😂100%
Stephen gave lots of incredible advice on how to be a good listener. It is such an evocative way to communicate with people to get their trust.. Extremely smart but so humble!
Lex, a lot of guests talk about finding the right people to work with. Could you ask how/where they've found the right people to work with? This question never seems to be asked. Thanks for the great conversations!
Best podcaster for an engineer! Lex is the best!
finally, after all these slobs a guest who is familiar with a tie
@@ProxyAuthenticationRequired I would guess you can't tie your tie...😅🙏
wow, big interview
This man is dropping gems on every single question. Thanks again, Lex, for great insightful topics!
Lex, you're a great inspiration for me. One thing that really stands out is your subtle sense of humour. It not only shows your human side but also enables you to connect with your guests in a way that you don't often see.
P.S. would love to see you interview Nassim Taleb!!
He is a bot pretending.
Would love it if you could interview Jamie Dimon.
This interview is so underrated (in terms of views compared to other videos on this channel). Schwartzman is right when he says people ignore most of the things they are not familiar with.
His way of connecting to people in power, the problem-solving approach, reminds me of an autobiography of Gorbachov that I read - in the same way, he was writing problem-solving proposals and posting them to senior party members, because he (I think to a large degree genuinely) wanted to help. Perhaps a genuine desire to solve an issue creates the necessary trust to move above a certain level in a company or in a political organization.
Get me Peter Thiel!
Im looking for some special time lapse to dig into this conversation, best intellectual chanel you can find
Hi Lex, I am still new to your channel. I know a bit about you (mostly the big things, like your contributions to self driving car research and a few of the other things about some of your other contributions available in the public domain) , but do you have a podcast on your own journey as an academic? Some of the things that made you who you are to today.
This is also a bit of topic, not sure what you would think of maybe doing an interview with prof Douglas Hofstadter, he has some unique perspectives on pattern recognition, AI and consciousness. Being well versed in these different fields. He was the Author of godel escher Bach, which further explains some of the concepts linking mathematics, symmetry and intelligence. I think if you want and he is kind enough to maybe do such a podcast with you. It could be a very interesting discussion.
Opening question inspired by Peter Thiel, Lex? I love the podcast!
I am 1/2 way through Mr. Swartzman's book and can't put it down....it's entertaining, informative, motivating and inspiring.
As a Chinese myself, I have to say that Stephen’s perspective on the Chinese characters and society is incredibly accurate.
Everytime I listen to Stephen talk over the years, he is always full of new surprises while always keeping the same values
Lex has the most insightful questions from any podcast. Invaluable content with any upload
Thank you for the brilliant content Lex as always!
Hi Lex! Please allow contributing community subtitles and translations for your videos
This will be very helpful, especially for non-native speakers
Waiting for your interview with Jim Simons.
Robert Mercer
@@nammoo89 he is not as famous
This would be awesome, just started "The Man Who Solved the Market"
@@JameBlack but he's a computer guy
@@nammoo89 yep! and highly controversial, everything we love!
Such an amazing episode
Man you are really take this to a new level ~ great to see
Went ahead and downloaded this one for the personal archives after 10 minutes in. Thanks Lex.
Audiobook purchased! Thanks Lex!
Hey Lex - Awesome interview - really hats off - what amazing insight
great content layout on the progressbar, just fantastic Lexy! :)
Thank you lex! What you are doing is just amazing job! Everyday amazing interview!
These podcasts are very educational!
Stephen Schwarzman: 9:48 "Humans are completely comfortable in their reality and they'll stay in it even if they're ultimately completely wrong. I've always been stunned that when I explain where we're going and what we're doing and why, almost everyone just says 'That's interesting' and they continue doing what they're doing. I think it's pretty easy to do that."
Me: That's interesting. 😁
On a serious note, this was a very interesting interview. When your guests are brilliant scientists, I often struggle to understand what they're saying. When your guests are brilliant business people, historians, comedians, etc, I don't have to spend too much time wondering what they said but I'm often left wondering "how do they know this?" I'm often impressed by how in tune with and intuitively understanding of the big trends and important technologies these "non-tech" people are. Impressive and inspiring.
Nice video that reminds me of a year when I was so broke that I could barely pay my bills. I remember the most important step in my life when I invested my last income with an experienced Forex trader who was recommended to me by a friend. It may seem a bit, but it took courage to know that investing was the right thing to do at the time.
wow! great podcast as always. thanks
One of the wisest business leaders. Thank you for your remarkable philanthropy and lessons for us young people
So awesome, thanks Lex! Lookin' forward to see Hotz again. Great video!
Thank you, this is amazing
Great Interview! Thanks for sharing!
Empathy put into practise as an approach to life, problems and thinking.
Juxtaposition via empathy, delightful.
I’ve been waiting to hear from him thanks lex!
Amazing talk! Thanks to Lex Fridman for hosting it and posting it!
Good interview and great guest, very interesting.
Great podcast as always. Thanks 🇵🇪
Great stuff to think about, again, thanks Lex!
About listening carefully I liked: 'most people ar e thinking about what they're in the process of saying...'
That way of listening is certainly smarter than thinking about what you're gonna say when they stop talking :-)
surprisingly enjoyable
talk
Amazing interview, thanks.
"when you observe something that simply doesn't make sense, that's when you go to work", exactly, that's why its so hard not to go HAM when encountering conspiracy theories and new age magic smh
Great Pod
Great conversation. Very different from the one with your dad (I ❤️ that also) obviously.
But Schwartzman reveals in significantly more depth and intuitively so on few topics that you covered w him, as to what’s he’s really thinking - much more than what’s in the book. The book is really great, but you managed to get him to talk and share his insights in ways that was superior to the book.
wow, great interview!
Would love to see more guests from finance/venture capital/economics guests
Lex gets better and better!
Thank you
Guest request: Neri Oxman!
Don't take this the wrong way, but... why?
Yes, Neri is amazing.
@@aaron4820
[Sorry in advance for the long response. But I think it's necessary in order to best get my point across.]
Lex attempts (and always succeeds) to interview people who have made significant contributions to fields adjacent to or within the study of artificial intelligence. Though, Neri Oxman is not an artificial intelligence researcher by profession, her work (like her silk pavilion) relies heavily on machine learning. To consider her even unread on the topic I think would be a sever understatement.
Artificial Intelligence aside, Oxman would be able to provide insight into many philosophical and transcendental questions spanning from the enhancement of the human form (in the same manner as Elon Musk's NeuralLink) to insights on ideas of extended consciousness (given her involvement with the Council on Extended Intelligence: a correspondence between her lab and the IEEE Standards association)
It is very difficult to describe the work of Oxman due to the contrast we often assume between the futuristic and that which is practical. Oxman's lab is a moonshot factory for the near future. Without trivializing her work, Oxman creates services for the future (such as synthesizing melanin, creating "living" materials that produce consumable waste among other biological actrivities, and exploring the constraints and liberties of biomimicry). Despite the fact that an interviewee like Neri Oxman would be a pretty big shift in profile given Lex's previous guests, I don't think she would be the only "outlier" (take Grant Sanderson or Eric Weinstein). Instead, I think she would bring some profound conversation to the table comprable to those found in some of my favorite interviews: the ones with Jim Gates, Juergen Schmidhuber, Francois Chollet, and Donald Knuth.
@@alexandercaines3358 Thanks for the response, he also interviewed Alex Garland who's a writer and director, so naturally expanding beyond his own field is great. What I have to say is entirely subjectively, too long, and likely dead wrong, but it's a point of view nonetheless.
My background is not in engineering or computer science, but architecture. Having gone to a heavily futurist school (Google image: student work Bartlett School of Architecture or Architectural Association), generating shapes with Rhino3D using scripts, 3D printing, 3D scanning, photogrammetry are all techniques that are constantly promoted in these environments, I once went through a whole panel at the annual exhibition that features TensorFlow heavily, and by feature I meant the use of the term, the work had absolutely nothing to do with it. I was guilty of this myself in order to assimilate, stretch some Latex across two 3D printed site model procedurally distorted by Rhino3D? Oh it "propagates generative ecotomes", which is then scanned in and exported to Unity to be experienced through VR, in order to "amplify the generative paradigms and the transient nature of entropy". I graduated and the school decided I did well, and certified me accordingly, then I stepped into the real world of architecture where I realised it was a big circle jerk.
Neri Oxman, and many like her, represent this culture, artists who are too proud to call themselves "artists", so they skim the top of upcoming technologies, get a basic understanding of them, then apply them to the art work, coating them with seductive languages to disguise them as technology advancement / development, for people looking in from the outside the design space, her language fills in the gap by being purposely vague, for people looking in from within the design space, her use of new and exciting technology shrouds her from conventional criticism as it's not suppose to be art. There are many real issue that has to be solved with new technologies, in fashion, in medicine, in architecture, she is often celebrated to be just that, but consistently she misses the mark, and nobody has benefited from it. She pretends to do the work of Autodesk (developing 3D printers that prints at building scale), 3M (material science that keeps us safe in all sorts of environment), and more, these are often unglamarous and under reported work by these companies, yet they do make everyone's lives better. FWIW this is my impression of her work and her talks, not MIT Media Labs or the faculty.
Don't get me wrong, I have nothing against art, in fact I appreciate it a lot, I love science and engineering too, I just dislike a celebrated individual who in my opinion pretends to be all of the above with little to no tangible useful results to show, perhaps by design. An interview with Lex might change my mind with insights that her talks and other interviews don't provide. Anyway, rant over.
I love your advice about fun and love.
I'm guessing the 100th video would be with your dad, Lex! It's been ages since you talked about recording it
U r right man
Well predicted!
How did you manage to get this guy on your podcast. I would love to know the story Lex.
WONDERFUL, please call out QUANTATIVE HEDGE FUND MANAGERS AS WELL, example : JIM SIMONS OF RENTEC. MAJOR RESPECT FOR YOU.
I'd love to see you do an interview with tech pioneer Jaron Lanier about the birth and future of virtual reality.
20:35 ask “what have you been working on lately?”, “thinking about”, “has anything been particularly difficult”
These are indeed really good questions to get a deep understanding of others, yet sound so simple. I literally wrote them done.
Yea that is really good question as conversation starter.
This is one of the best podcasts out there and unfortunately does not net millions of views. Such is the case with sophisticated content.
Some new pop songs that drip with sex will net 100s of millions of views.
Such is the nature of humanity. The top 0.1% drive the rest of us forward, and most of us do not know how or even appreciate it.
Shephen is my hero. Fortunately, there are lots of interviews available with him.
"All journeys are alone" So true.
Yeah but don't be a lone 🐺 wolf. Lol. I don't know my teeth are sharp and my Claus are sharper still.
Very good channel, it’s possible have the transcripts thanks
Hi Lex, I love your podcasts! Very inspiring. I have one question I'd love to ask, how did you find out what you wanted to do with your life, your goal etc. Thanks again.
First, u have to know what u aim or aspire in life. And then work towards it.
Incredible.
Lex, I wonder, on financial funds + math + computer science, who in the world more than Jim Simons should you interview??! ⭐️What are you waiting for? 😊👐🏼 TKS 4 all you're doing, great job!! 🙏🏼
Perfect man~~ with the chairman's humble mind
wise man he is
one of the more engaging, interesting, and level headed guests (and billionaire).
I don't know why, but I laugh every time Lex looks directly at the camera for a split second.
Best of luck with the start-up!
Respect to Stephen Schwarzman for supporting AI and MIT
King of Capital is a great book.
Hell yeah!!!!
Man... cam you add your podcasts to soundcloud? It would be way easier to follow like audiobooks...
Dear Mr Fridman and Mr Schwarzman, Thank you Mr Fridman for an excellent interview and thank you Mr Schwarzman with sharing some helpful hints in dealing with people. You have taken common sense to a new level. By simply observing how human beings act and think, you have given us insight into knowing more about our fellow man. Two things. I heard your apprehension on the internet and social media and I think we have to realize we have created an internet mirror of the human brain. It’s can scare us because as you pointed out, some people can lose their lives by one means or another. And as Mr Fridman points out it can shine a light on some incredibly fascinating things. What’s my point? I think we have to realize that we can expect just about anything that is believed will be conceived on the internet. We have opened the door to the 3 parts of the human psyche: The ego, The superego and The Id. What this means is that a lot of the weird stuff that will be coming at us from the virtual reality will be from the Id, or a disproportionate amount. You can already see that from what your president shown to the whole world. A former Fox News Contributor Charles Krauthammer said this: “There is no more uncensored, unfiltered avenue from the id to tweeting. What we’re seeing is that we’re getting a look into the psyche of the president. And what we’re seeing is a vindictiveness, a cruelty, a lack of temperedness, a lack of self-control which is truly shocking. Not that it distracts, of course it distracts but that is a political thing, the problem is America has elected Trump and this is what is character is like.” Trump is the perfect example of a text-book sociopath, and social media has allowed us to see how he thinks. Now times that by 7.7 billion people and you’ve got your internet. Lastly, you mentioned China’s goal of getting all the kids learning computer science and in your country the education system is all over the place and maybe 5% of the kids will get computer classes. To me, this insight coming to you is your Id trying to get in touch with you by saying, “You can change this Stephen, you can make this your life’s goal and direct your philanthropic prowess towards correcting this wrong that you have pointed out in your country’s education system.” I think you cannot deny, Mr Schwarzman that you have a life goal here that will make a big difference. Why not aim high and get (all) of your country’s kids on the same page as China’s kids? It's an opiinion. I try to think of solutions and give feedback. Be well.
Listing to this 3 years later is crazy
Request! Dharmendra S. Modha who heads neuromorphic computing at IBM
That sounds great
Damn. I wish there was a round two
This guy is my hero.(Stephen)
Conflicts of Interest before arguments
i guess you could have discussed more on money and businesses (which was in his pay grade and domain of expertise).
I'd suggest you invite Miguel Nicolelis, neuroscientist and pioneer of neuroengineering.
As humble as this guest is, he is bound by patriotism and nationalism. I think it's more important to ask oneself: What can I do for the world and planet Earth overall, not just what can I do for the people in my country.
The idea of every school student in China being taught computer science is such a good idea because computers are so fundemental to our lives that an ability to understand them better will be a huge advantage.
Cost effectiveness. Built in pairs break down of naval builds tells plans and possible unknowns
I hear allot of other successful businessmen (not as wealthy as Stephen) saying "fuck family, fuck friends, if you want to be successful you need to devote every living second to working on your dream", its reassuring to hear Stephen saying something different in that respect.
A wise man ,
~ @47.00 China vs US on Computer science education - I am watching this 3 years after it was posted, and I am surprised to find 100% mandatory education on computer science in China! Separately I found very high percentage of people learning English in China even at ~6 years old. (Also, sad to hear about political divide in the US compared to days at JFK..."what you can do for the country".- So, articulate the core principle....) Lastly, have fun. Thanks.
I lived in China, So Korea + Vietnam 2009 to 2016. The #1 power in Asia is FAMILY and networking in that family. Americans and Europeans don't have that power. I think this lack of Family Networks in America today is hurting us a lot!
He seems very wise
Human beings are pattern recognition machines
Patterns here
Patterns there
Patterns everywhere
What do they mean
Are they promises
Are they warnings
Are they predicting the unforeseen
Look at those numbers
Those stars
Those cards
Those hints
That convince of conspiracy
Leaves in a cup of tea
Who's that hiding in the bread mould
Could it be the God of old
Is that His face staring at me
Who else could it be
Maybe His mother Mary
Three good things in a row
On a winning streak
Don't change your lucky socks
Don't change your lucky shoes
Don't change your lucky anything
Patterns here
Patterns there
Patterns everywhere
Intuitions
Superstitions
Apparitions
All manifestations of a beautiful mind's obsession
With pattern recognition
Father of linux Linus Torvalds netx please!
Guest request: Ben Geortzel
Change the water! Use Spring water! Not purifier dead,filtred water...that have ingredients!
Making rich people even richer, very philanthropic... This guy is like Robin Hood but the other way arround.
About teaching compute science to children, everything is trade-off day has 24h, you have to take away time from some other activity and focus it on compute-science in this case. Maybe what they should learn it not any specific topic but the ability to thinking critical, about any topic, learn to ask question and investigate things. That much more general skill.
Perpetual balance with harnessing
Lex knows refinement
@Lex... please reach out to Larry Wall.
This guy's motives and way to see the world is scary... knowing what black rock is investing on is very telling if you really analyze this conversation.
Come hear the spacex rumble from my backyard in Waco!!! BBQ or Mexican, lo que tu quieras
I understand wanting to invest in the idea of MIT AI. Having listened to other leaders on this podcast, I would like to see some debate and pushback.
One can also invest in area of crypto currencies and secure his or her future