Author: Stephen A. Schwarzman is Chairman, CEO and Co-Founder of Blackstone, one of the world’s leading investment firms with $731 billion Assets Under Management. He holds a B.A. from Yale University and an MBA from Harvard Business School.Book: The book narrates Mr Schwarzman’s life from his early days, years in college and Lehman Brothers to the formation of Blackstone and his subsequent steps. Through his journey, he outlines the key lessons he has learned so that you can apply those principles to your life.Opinion: Even if the book gives interesting insights into the early life of Schwarzman and the creation/development of Blackstone, I think he focuses too much on his philanthropic life, personal accomplishments, etc. The main teaching of the book for me was that even the best of the best is going to face adversity when trying to create something new. It also reinforced my belief that happiness = expectations – reality (He was “crying” for going to Yale instead of Harvard for his BA). Obviously, Schwarzman is an ultra-successful businessman, but in my view, this book is more of an ego-alter rather than a collection of useful insights and stories for someone’s life/career. I think he is trying to copy what Ray Dalio did with his book “Principles”, to obtain a similar level of validation from the media and public. I also believe that many of his principles for life & work are dependent on the environment. For instance, the idea of hiring only 10s can be good for BX analysts/associates due to the nature of their job. When I think about the (extremely) talented individuals I know, none of them is a 10, and I know many 10s. Personally, I would only apply the rule of hiring 10s if it was to make exams with pen & paper. Obviously, exceptions apply. Final warning: Reading this book won’t increase the odds of getting an offer at Blackstone.
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