He had an unruly sense of good ideas and many of them worked out extremely well for him and his partners. He wanted a way to stand out and be selected to become a member of the skull and bones his senior year, so he decided to find a way for females to be allowed to stay over in the dorms, which was currently forbidden as the school was male-only at the time. I learned a lot about Schwarzman though - so I guess itâs as always about what you are seeking. Stephen eventually graduated and took a job as an investment banker at Lehman Brothers, where he did extremely well, working his way up to Managing Director of the Mergers and Acquisitions department. Schwarzman gives each section and chapter a heading in the lesson in what it takes. 1 of 5 stars 2 of 5 stars 3 of 5 stars 4 of 5 stars 5 of 5 stars. More recently he was talking with Chinese trade representatives when Trump was trying to negotiate with China. It started off talking about his upbringing in a middle-class Philadelphia suburb and him getting into Princeton and Yale, but not Harvard. Like I found it witty yet informative learning about one of the most successful individual's in the private equity industry. I agree with Tony - he is a relentless banker and never stops solving problems. You will suffer the same toll financially and psychologically as you bludgeon it into existence. I recommend to anyone who has time to devote to a book that should be read from cover to cover. I agree with Tony - he is a relentless banker and never stops solving problems. See all 3 questions about What It Takesâ¦. This is by far the best book about leadership and business I have ever read. kingpin. Whether you are a student, entrepreneur, philanthropist, executive, or simply someone looking for ways to ⦠by Simon Schuster Audio. Bit crazy some of his. He decided to stick it out and graduate. His rise is just so epic, I enjoyed the narrative more than I expected going in. Schwarzman gives each section and chapter a heading in the lesson in what it takes. When the dean said no, he told him you're making a mistake and I will be successful. A regularly cringe inducing autobiography built around chapters with self help inspired titles and the occasional, borderline cliche life advice aside. Steve Schwarzmanâs âArt of the Dealâ. The story is fairly engaging, going over big moments chronologically in his rise from college to the helm of Blackstone. Steve Schwarzman has a lot of interesting things to say, as an exacting and highly successful CEO of the most successful alternative asset manager in the world. Blackstoneâs Stephen A. Schwarzmanâs new book, What It Takes: I would definitely recommend this book to every finance aspirant out there to get a heads up on what it takes broadly to succeed in the world of intense pressure and uncertainty. Even just reading his story and seeing his perspective on the GFC, international trade talks and collaborating with Chinese leaders gives such a unique view of his ongoing success. He recently published his memoir: "What it Takes". He then wanted to try something new as he wasn't happy at Lehman after their acquisition to Amex so he and his boss Peter, decided to start the Blackstone group. It started off talking about his upbringing in a middle-class Philadelphia suburb and him getting into Princeton and Yale, but not Harvard. NEW YORK TIMES BESTSELLER From Blackstone chairman, CEO, and co-founder Stephen A. Schwarzman, a long-awaited book that uses impactful episodes from Schwarzman's life to show readers how to ⦠I had general knowledge of his business success (read Kings of Capital) but did not realize how much of an impact he has had in the political arena and through his charitable endeavors. Partner at BlackStone; Personal effectiveness. I thoroughly enjoyed Schwarzman's incredibly successful journey through life. ... Schwarzman has produced an interesting business book. Rate this book. Imagine believing creative entrepreneurship is the founding of another investment company. To cap it off, Stephen wanted to leave a lasting legacy by his $500 million gift to Yale for a new community center and another $500 million gift to MIT to create a new AI college as well as starting a new program at the top Chinese University to create collaboration with future leaders around the world with China similar to the Rhodes scholar. I got this book from an HBS conference after Tonyâs ârelentlessâ reference to Steve in his speech. Beyond the titles, he invested in the top education program between China and US; he helped President Obama in resolving the Connecticut shooting; he was actively involved in the trade talks. One example is when Obama was president, Congress was having trouble passing the budget and the US was about to go into default. With a Yale Degree, a Harvard MBA, and a few Wall Street jobs under his belt, Schwarzman feels like your typical financier with a perfect resume. However, at first, he felt the courses were pointless and was considering dropping out. This is something Stephen wishes in hindsight he was willing to renegotiate as the situation has changed since their inial partnership. Book summary: What it takes, Stephen Schwarzman. He went on to do extremely well at Yale. Filled with the challenges it takes to build a financial empire, this book underscores the trials and tribulations of launching any new business. Main takeaways are go big (raising a small fund and investing is similar levels of work to raising a big fund), work hard, and relationships/reputation are critical. Profile. Summary: A lot of great take aways that are then fully summarized in the list in the back. Itâs eye opening that someone whoâs achieved such extraordinary things can have such shallow motivations (money and prestige) and still seek so much external validation. At times, the book reads a bit like a list of accomplishments that Schwarzman can't wait to brag about (can't blame the guy given his success, but still gets a bit tiring). I suppose he did succeed in generating income, which he has reinvested in his alma mater so that more students can go on to do creative, incredible things in the world, i.e. Time will tell if they achieve the desired results but it is no question AI and China will be heavely involved in any future of this world. Buy The Book 25 Rules for Work and Life From deal making to investing, leadership to entrepreneurship, philanthropy to diplomacy, Schwarzman has lessons for how to think about ambition and scale, risk and opportunities, and how to achieve success through the relentless pursuit of excellence. That said, it was an overall enjoyable lens on the pursuit of uncommon achievement and the power of âbeing a telephone switchboardâ - spending life genuinely motivated to connect people, ideas, and opportunity. But before he could graduate he had to speak to the dean, which took almost half a year to get an appointment with. SS has had an unimaginably successful career as a financier, and now political powerbroker and philanthropist. The title of the book might make you think this book belongs in the self-help section. There are so many great lessons and things that can be learned from reading this book. Steve Schwarzmanâs âArt of the Dealâ. Weâd love your help. Stephen told the dean he thought the curriculum was outdated and many of the people teaching were either the TA's or not interested and felt something should be done about it. After years of financial success, founder of the Blackstone Group From calling the dean of admissions at Harvard as a high school student when he was rejected, to walking into the President's office at Yale as a freshman to advocate students' rights, his assertiveness and self-confidence were quite admirable. Zibby Owens: I am very, very excited to be interviewing Stephen A. Schwarzman today who is the chairman, CEO, and cofounder of Blackstone, one of the worldâs leading investment firms, and the author of What It Takes: Lessons in the Pursuit of Excellence.He is an active philanthropist with a focus on education, culture, and ⦠Good color on some of the deals (Equity Office Properties, Hilton) but zero introspection about extreme wealth and not much on the criticisms of private equity, plus a heap of humble-bragging and name-dropping. Schwarzmanâs net worth is estimated at a whopping $18.8 billion as per the present. But he has missed a chance to give it much wider and deeper resonance. The author's life story is definitely fascinating. Amongst the people who Schwarzman crossed paths with during his career included: Sam Zell, George W. Steve Schwarzman has a lot of interesting things to say, as an exacting and highly successful CEO of the most successful alternative asset manager in the world. Steveâs experience is absolutely remarkable - Yale and HBS grad, partner at Lehmanâs, founder of Blackstone. Schwarzman's amount of (humble) bragging gets way too much although he clearly has a lot to brag about. Is this book any different to Principles by Ray Dalio? In hindsight, had I read it a couple of years back, I'd have probably sensed what a misfit I am to the culture of finance. Naturally, being in the private equity industry, this book piqued my interest. Though this book slows towards the end, it remains one of my favorite books to date. By closing this box or clicking on accept you consent to this and to the sharing of your data with our partners. Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. Garrett Parker 2 years ago. A true exemplar of someone who thought big, was an opportunist during the nascent days of PE, and never found a challenge he wasn't confident he could overcome. But actually what really drove his success is not listed in a summary at the end of ⦠That was an understatement. Schwarzman leverages his life experiences to explain why and how they have shaped his leadership and investing philosophies. Finally, his long-awaited book is out. September 17th 2019 In between, the book dives deeply into the firmâs signature deals â Celanese! So Stephen decided to pick up the phone after finding the admission's dean and telling him he got into two other Ivys and that Harvard should accept him. Yes, you do find out that he is extremely hard-working, smart and dedicated. A regularly cringe inducing autobiography built around chapters with self help inspired titles and the occasional, borderline cliche life advice aside. Reinforced the ideas that timing is tremendously important - being early in private equity enabled him to find the lower hanging fruit and build the track record. I already know I will come back to it endlessly times in my life and carrer, “itâs as hard to start and run a small business as it is to start a big one. Stephen Schwarzman provides an open and honest look into the challenges, failures, and achievements that he faced at various turning points of his life and career. But you had to know that going in. NEW YORK TIMES BESTSELLER From Blackstone chairman, CEO, and co-founder Stephen A. Schwarzman, a long-awaited book that uses impactful episodes from Schwarzman's life to show readers how to build, transform, and ⦠Schwarzman really seems to have an eye for talent, and holds himself responsible for being dedicated to achieving big things with a perfection-based approach. It's also intriguing to read about clusters of successful people who all meet each other along the way. Steve has good advice to give, and clearly the principles that he has followed have contributed greatly to his success over his career. In terms of his principles of building Blackstone, there is nothing really groundbreaking that he shares, although it is good to see how he underlines the importance of striving for something greater than one's personal enrichment and the value of loyalty. Just feast your eyes upon all of these debut books to check out and emerging authors to... To see what your friends thought of this book, The only similary between Ray Dalio's "Principles...." and Stephen Schwarzman's "What It Takes" is that they both lay out principles towards choice of. Of course, this all comes with the territory (in a business âmemoirâ you must mention at least once the names of all your friends so they can look themselves up in the index - except a billionaire can never be sure if he has any real friends or whether people just like him for his money. 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