The Strategic Patience of Philanthropy

In this special episode, my friend—and fan-favorite guest—Dr. Peter Attia takes the mic as guest host. Peter sits down with legendary trader John Arnold, widely considered the greatest energy trader of all time. Today, through his foundation Arnold Ventures, John applies the same rigorous thinking to some of America’s toughest social challenges—criminal justice reform, healthcare policy, and K–12 education, to name just a few. This interview originally aired on Peter’s excellent podcast The Drive. You can check it out at PeterAttiaMD.com, or subscribe to The Drive wherever you get your podcasts.

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Timestamps:

[00:00:00] Start.

[00:05:37] Peter Attia's intro: who is John Arnold?

[00:08:38] John's background, upbringing, and early entrepreneurial tendencies.

[00:21:16] John's time and rise at Enron.

[00:33:40] Characteristics that made John an exceptional natural gas trader and how they translate to his philanthropic work.

[00:41:10] The collapse of Enron.

[00:46:46] The success of John's hedge fund, and his early interest in philanthropy.

[01:02:03] The infamous 2006 trade that brought down Amaranth Advisors.

[01:08:28] John's analytical prowess and emphasis on fundamentals.

[01:15:13] The decision to become a full-time philanthropist and the founding of Arnold Ventures.

[01:25:03] Education — John's quest to fundamentally change K-12 education.

[01:30:36] Strategic philanthropy — preventing problems by attacking root causes and creating structural change.

[01:37:50] The criminal justice system — structural changes needed to address mass incarceration, policing practices, and recidivism.

[01:55:07] Re-imagining prisons to reduce recidivism.

[02:02:27] US health care policy — John's focus on drug prices, and the severe consequences of not making system changes.

[02:20:00] Climate change — the bipartisan role of John's foundation.

[02:23:52] Advice for young adults interested in philanthropy.

[02:30:52] Parting thoughts.

*

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