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Starting a Business is a Rough Ride (Stephen Schwarzman) | AI Podcast Clips
5 segments available
Full episode with Stephen Schwarzman (May 2020): https://www.youtube.com/watch?v=aYwDs9LTN50 Clips channel (Lex Clips): https://www.youtube.com/lexclips Main channel (Lex Fridman): https://www.youtube.com/lexfridman (more links below) Podcast full episodes playlist: https://www.youtube.com/playlist?list=PLrAXtmErZgOdP_8GztsuKi9nrraNbKKp4 Podcasts clips playlist: https://www.youtube.com/playlist?list=PLrAXtmErZgOeciFP3CBCIEElOJeitOr41 Podcast website: https://lexfridman.com/ai Podcast on Apple Podcasts (iTunes): https://apple.co/2lwqZIr Podcast on Spotify: https://spoti.fi/2nEwCF8 Podcast RSS: https://lexfridman.com/category/ai/feed/ 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. Subscribe to this YouTube channel or connect on: - Twitter: https://twitter.com/lexfridman - LinkedIn: https://www.linkedin.com/in/lexfridman - Facebook: https://www.facebook.com/lexfridman - Instagram: https://www.instagram.com/lexfridman - Medium: https://medium.com/@lexfridman - Support on Patreon: https://www.patreon.com/lexfridman
Segments Timeline
The Rough Ride of Entrepreneurship
Stephen Schwarzman shares his insights on the challenges faced by first-time entrepreneurs. He emphasizes the psychological preparation needed for the inevitable problems that arise, highlighting the importance of having experienced individuals around to navigate the complexities of starting a business.
"I'm now personally taking a step into building a startup first time hoping to change the world of course there are thousands maybe more maybe millions of other first-time entrepreneurs like me what ad..."
The Importance of Teamwork
Schwarzman discusses the myth of the lone entrepreneur and stresses the significance of teamwork in achieving success. He references successful tech companies like Google and Microsoft, illustrating that collaboration and diverse skills are crucial for overcoming challenges and making informed decisions.
"it's good to have other people with you who've had some experience in areas where you don't know what you're doing unfortunately an entrepreneur starting doesn't know much of anything so everything is..."
Navigating Self-Criticism
In this segment, Schwarzman reflects on the self-critical nature of entrepreneurs and how it can be both a powerful motivator and a burden. He explores the balance between personal accountability and the need for support from others during difficult times.
"you know because most entrepreneurs at some point question what they're doing because it's not going so well or they're screwing it up and they don't know how to unscrew it up because we're all learni..."
The Role of Relationships in Success
Schwarzman emphasizes the value of love, family, and friendship in the entrepreneurial journey. He discusses the necessity of maintaining personal relationships while pursuing business goals, advising on the importance of creating a supportive ecosystem that allows for both professional and personal growth.
"one of them had two people I mean if you look at Google you know that's what they had and then that was the same at Microsoft at the beginning and you know who's the same at Apple it you know people h..."
Reinforcing Relationships Amidst Chaos
In this concluding segment, Schwarzman offers practical advice for entrepreneurs on nurturing their relationships. He suggests regular escapes with partners to reaffirm values and maintain joy, stressing that fun and connection are essential to balance the pressures of entrepreneurship.
"in terms of friends in the bigger picture of your own life what do you put the value of love family friendship in the big picture journey of your life well ultimately all journeys are alone it's great..."