PBD Podcast David Rubenstein | PBD Podcast | Ep. 217
Dec 20, 2022
David Rubenstein, Chairman of the Carlyle Group, shares insights from his illustrious career in private equity. He discusses the trials of raising children and reflects on life's unpredictable shifts. Rubenstein addresses America’s economic concerns, predictive of a recession, and questions the ethics of political financing. He critiques Elon Musk while praising Tim Cook's leadership. With a nod to his favorite reads, he emphasizes the importance of mentorship and trust in both business and public life.
01:37:00
Rubenstein's Success Story
- David Rubenstein, born to parents without college degrees, achieved success in private equity.
- He emphasizes the importance of hard work and giving back.
Life's Trajectory
- Life's trajectory unfolds in thirds, with later bloomers often surpassing early high-achievers.
- Presidential figures rarely emerge from backgrounds of exceptional early academic or social prominence.
Challenges of Raising Children
- Raising children is the most challenging life task, surpassing even marriage in difficulty.
- Wealth complicates parenting due to the temptation to over-provide, potentially hindering children's growth.
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Intro
00:00 • 2min
From Underdogs to Success: Reflections on Life and Investing
01:43 • 10min
Reflections on Aging and Family Responsibilities
12:00 • 3min
Navigating Love and Wealth
15:05 • 12min
Bridging Political Divides and Economic Insights
27:19 • 13min
Trust and Expertise in a Shifting Landscape
39:52 • 22min
Navigating Economic Uncertainty
01:02:08 • 19min
Influential Reads and Historical Insights
01:20:40 • 10min
Political Ticket Dynamics and Financial Sustainability of Entitlements
01:30:55 • 3min
Navigating Economic Challenges and Retirement Savings
01:34:10 • 3min
Sea Stories
My Life in Special Operations
William H. McRaven
In 'Sea Stories,' Admiral William H. McRaven recounts his illustrious 40-year career in the U.S.
Navy, focusing on his time in special operations.
The book includes firsthand accounts of significant missions such as the capture of Saddam Hussein, the rescue of Captain Richard Phillips, and the bin Laden mission.
McRaven provides insights into the planning and execution of special operations, the importance of teamwork, and the challenges faced in fluid and high-stakes situations.
The memoir also covers his childhood, his experience in Basic Underwater Demolition/SEAL (BUD/S) training, and various other missions and challenges throughout his career.
How Not to Invest
Barry Ritholtz
In 'How Not to Invest', Barry Ritholtz focuses on the pitfalls of investing by highlighting bad outcomes in finance and other fields.
The book distills Ritholtz's investing philosophy, gathered from three decades of his writings, into practical advice on avoiding typical investment mistakes.
It emphasizes the importance of managing risk, being unemotional, and learning from historical examples of poor investment decisions.
Snowball
Ted Allbeury
In 'Snowball', Ted Allbeury crafts a thrilling narrative centered around a British Intelligence agent tasked with thwarting a Communist plot aimed at undermining America's global influence.
The novel is part of the Tad Anders series and showcases Allbeury's expertise in espionage fiction, drawing from his real-life experiences in intelligence.
The Man Who Ran Washington
The Life and Times of James A. Baker III
Peter Baker
Susan Glasser
This book provides a detailed portrait of James A. Baker III, a key figure in American politics who served as White House Chief of Staff and Secretary of State.
It explores his influence on U.S.
policy during the Reagan and Bush administrations, including his role in the Gulf War and German reunification.
The biography highlights Baker's pragmatic approach to politics and his ability to navigate complex political landscapes.
How the Mighty Fall
Jim Collins
In 'How the Mighty Fall', Jim Collins explores the reasons behind the decline of once-great companies.
Through a four-year research project, Collins identifies five stages of decline: Stage 1: Hubris Born of Success, Stage 2: Undisciplined Pursuit of More, Stage 3: Denial of Risk and Peril, Stage 4: Grasping for Salvation, and Stage 5: Capitulation to Irrelevance or Death.
The book offers leaders practical advice on how to detect early signs of decline and reverse their course to avoid failure.
Collins emphasizes that decline is often self-inflicted and that understanding these stages can help companies avoid or recover from decline.
Confidence Man
The Making of Donald Trump and the Breaking of America
Maggie Haberman
Confidence Man is a comprehensive and detailed biography that explores Donald Trump's life, from his early days in Queens to his presidency and beyond.
The book, written by Maggie Haberman, is based on extensive interviews with hundreds of sources, including Trump himself.
It delves into the transactional relationships that shaped Trump's career, including those with significant figures like Roy Cohn, George Steinbrenner, and Rudy Giuliani.
Haberman's work provides a nuanced portrait of Trump, highlighting his complexities, contradictions, and the broader societal context that enabled his rise to power.
The book is praised for its meticulous reporting and its contribution to understanding one of the most consequential eras in American political history.
The Song of the Cell
Siddhartha Mukherjee
Siddhartha Mukherjee's "The Song of the Cell" is a captivating exploration of the cell, the fundamental unit of life.
Mukherjee masterfully weaves together scientific discoveries with historical narratives, revealing the intricate workings of cells and their impact on human health and disease.
The book delves into the history of cell biology, highlighting key breakthroughs and the scientists who made them.
It explores the complexities of cellular processes, such as cell division, differentiation, and communication.
Mukherjee's writing style makes complex scientific concepts accessible to a broad audience, offering a profound appreciation for the wonders of life at the cellular level.
Team of Rivals
The Political Genius of Abraham Lincoln
Doris Kearns Goodwin
This book is a multiple biography centered on Abraham Lincoln's mastery of men and how it shaped the most significant presidency in the nation's history.
It explores how Lincoln, despite being a one-term congressman and prairie lawyer, rose to become president by incorporating his rivals—William H. Seward, Salmon P. Chase, and Edward Bates—into his cabinet.
The book details Lincoln's extraordinary ability to understand and empathize with others, which enabled him to create an unusual but effective cabinet.
It also delves into the challenges Lincoln faced, including incompetent generals, hostile congressmen, and the internal dynamics of his cabinet, highlighting his political genius and managerial skills.
The Emperor of All Maladies
A Biography of Cancer
Nessa Carey
Siddhartha Mukherjee
In this book, Siddhartha Mukherjee provides a detailed and engaging history of cancer, from its first recorded cases to the latest treatments and research.
The book delves into the scientific, medical, and social aspects of cancer, making it a compelling read for both medical professionals and the general public.
And There Was Light
Abraham Lincoln and the American Struggle
Jon Meacham
This biography by Jon Meacham chronicles the life of Abraham Lincoln from his birth on the Kentucky frontier in 1809 to his tragic assassination in 1865.
It delves into Lincoln's self-education, his loves, his bouts of depression, his political failures, and his deepening faith.
The book highlights Lincoln's persistent conviction that slavery must end and his role in preserving democracy and the Union.
Meacham's work interweaves gripping narrative history with a deeper exploration of the complex interplay among morality, politics, and power, drawing parallels between Lincoln's era and contemporary American society.
In this episode, Patrick Bet-David is joined by the financial genius David Rubenstein, Matt Sapaula and Tom Ellsworth to discuss, how to become successful, raising kids, Americas worsening economy and much more..
TOPICS
- David Rubenstein explains how he got successful
- David Rubenstein on why raising children is so hard
- David Rubenstein on the paradigm shifts of life
- Is it ethical to support political parties with money?
- Dave Rubenstein on the recession
- Why Americans lost trust in the government & the media
- America is expecting a worsening economy in 2023
- David Rubenstein on how to invest
- David Rubenstein on how to lead a successful company
- David Rubenstein critizising Elon Musk
- David Rubenstein praises Tim Cook
- David Rubenstein on his top 5 books
- David Rubenstein on who could be a great president
- Can the USA pay back its debt?
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PBD Podcast Episode 217. In this episode, Patrick Bet-David is joined by David Rubenstein, Matt Sapaula and Tom Ellsworth.
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Patrick Bet-David is the founder and CEO of Valuetainment Media. He is the author of the #1 Wall Street Journal bestseller Your Next Five Moves (Simon & Schuster) and a father of 2 boys and 2 girls. He currently resides in Ft. Lauderdale, Florida.