Don't Make These Mistakes in Philanthropy

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I have four standards i use though. Number one is, i want to see something with my money startet that wouldn't otherwise get started. Or second, something that Wouldn't otherwise get finished. Or third, i have an intellectual interest in it,. And fourth, i'm likely to see progress in my lifetime. I've made some mistakes in philanthropy, and some things have worked out well. Should the national gallery have cancelled its pending neapolitan beroke exhibit? Well, we've had a lot of issues because of covid and so forth, so we want to make certain that people can attend.

Baltimore native David Rubenstein is a founding figure in private equity, a prolific philanthropist, and author. From leveraged buyouts to his patriotic philanthropy to his leadership roles within institutions like the Smithsonian, Kennedy Center, and the National Gallery of Art, David has spent much of his life evaluating what makes institutions—and people—succeed.

He joined Tyler to discuss what makes someone good at private equity, why 20 percent performance fees have withstood the test of time, why he passed on a young Mark Zuckerberg, why SPACs probably won’t transform the IPO process, gambling on cryptocurrency, whether the Brooklyn Nets are overrated, what Wall Street and Washington get wrong about each other, why he wasn’t a good lawyer, why the rise of China is the greatest threat to American prosperity, how he would invest in Baltimore, his advice to aging philanthropists, the four standards he uses to evaluate requests for money, why we still need art museums, the unusual habit he and Tyler share, why even now he wants more money, why he’s not worried about an imbalance of ideologies on college campuses, how he prepares to interview someone, what appealed to him about owning the Magna Carta, the change he’d make to the US Constitution, why you shouldn’t obsess about finding a mentor, and more.

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Recorded September 30th, 2021 Other ways to connect

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