March 15: Friday Five Newsletter

Watch - Invigorating talk given by Steve Wynn. This man is a master of communication and human psychology. This clip at 28:00 on how self esteem is the most powerful motivator in the world is something Steve understands better than any other business person I have learned from

Quote of The Week:

Listen - Sam Zell on Strategies for High Stakes Investing and Deal Making. Unfortunately, Sam Zell passed away in 2023, but he has left us with abundant teachings. This is a long interview, but it allows Sam to go deep into a myriad of personal and business topics. Recommend for a long car ride.

Read - The autobiography of Andre Agassi. I read this book in 2023 and firmly enjoyed it. If you enjoy sports and competition, I feel strongly you will enjoy this as much as I did.

Deeper Dive

Watch - Steven Schwarzman, Founder of Blackstone, gave a talk across the pond to the Oxford Union some 7 years ago, and man, is it packed with some “golden nuggets”

Quick Notes:

• His biggest failure came early in his time at Blackstone. You can tell when he talks about it, that experience still haunts him to this day. Fast forward to 13:21 for the story

• Steve equates Blackstone’s business to a restaurant - only as good as the last meal - and the second someone has a bad meal they will not come back

• The greatness of America is that failure is accepted. If you fail, for a somewhat logical reason, people help you up and get you back on your feet. In many other places, it is not like that