Why Do So Many Politicians Get Rich in the Private Sector?

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I think it's better if you were to go into a mutual fund or things like that. If you 're a member of congress, your compensations roughly a hundred 80 thousand dollars a year. And also, obviously some people who do lobbying and other kinds of things are using their contacts and so forth that they got in government service. So i think we often have more barriers to getting good people in government than we should have. For example, when we only had three million people in this country, who do we have in government service? Will we have george washington? Thomas jefferson? John adams, james adison, james monroe, john jay

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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