Billionaire David Rubenstein on the Key Principles to Truly Becoming the One in Control

Last updated: Jun 1, 2023

The video is an interview with billionaire David Rubenstein about his new book on leadership and the key principles of leadership, including luck, persistence, focus, and overcoming failure.

The video features an interview with David Rubenstein, co-founder of Carlyle Group and author of the book "How to Lead." Rubenstein discusses the nature of leadership, stating that it involves convincing a larger group of people to follow a leader's views on what should be done. He also outlines 13 core tenets of leadership, including luck, persistence, focus, cooperation, communication, ethics, and humility. Rubenstein emphasizes the importance of hard work, overcoming failure, and wanting to be a leader in order to succeed. The interview also touches on Rubenstein's own story and how these principles have played out in his life.

  • Leadership is convincing others to follow a good thing.
  • Leadership can be in social policy, political effort, or business venture.
  • Hard work, persistence, focus, cooperation, communication, ethics, humility, and crisis management are core tenets of leadership.
  • David Rubinstein is the co-founder of Carlyle Group and emphasizes the importance of luck, perseverance, and rising to the occasion.
  • Modest means can be an advantage for success.
  • Wealth can present challenges for achievement and raising children.
  • Success is not just about wealth, but also personal happiness and fulfillment.
  • Leading by example is the most powerful way to persuade and teach.
  • Raising children is challenging, but parents can educate them through their actions.

Billionaire David Rubenstein on the Key Principles to Truly Becoming the One in Control - YouTube

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What is Leadership?

  • Leadership is the effort of one or more people to convince a larger group of people to follow them in doing something that the leaders think is a good thing for everybody to do.
  • Leadership can be in social policy, political effort, or business venture.
  • Leaders are people who try to convince other people that it would be in everybody's best interest to follow the leaders' views on what should be done.
  • Everybody has some roles where they play as a leader.
  • Leadership is good if we had everybody being a follower, there would be a lot of chaos.
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The Core Tenets of Leadership

  • Luck is very important because you need some luck to get anywhere.
  • Persistence is important.
  • Focus on what you want to do.
  • Cooperate with other people and share the credit.
  • Communicate well with people either orally or writing or some other method.
  • Be ethical and have some humility.
  • Rising to the occasion when a crisis occurs is very important.
  • Many different skill sets are common with the people interviewed.
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The Importance of Hard Work and Long Hours

  • Hard work is important.
  • Focus on what you want to do.
  • Be willing to overcome failure.
  • Everybody's going to fail, and if you give up, you're not going to be a leader.
  • Persistence is important.
  • You have to want to be a leader.
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Billionaire David Rubenstein on the Key Principles to Truly Becoming the One in Control - YouTube

David Rubinstein's Story

  • David Rubinstein is the co-founder of Carlyle Group, one of the most successful firms ever in terms of private equity.
  • Leadership is important not only in business but also generally in life.
  • Leaders can develop and mature and improve their leadership skills.
  • Leadership is good if we had everybody being a follower, there would be a lot of chaos.
  • Leadership is the effort of one or more people to convince a larger group of people to follow them in doing something that the leaders think is a good thing for everybody to do.
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Perseverance and Luck

  • When living your life, you don't look at things in terms of success or failure.
  • One thing didn't work, and you tried something else.
  • Got very lucky in life and tried to do many different things.
  • Some worked out well, and some failed miserably.
  • Attribute a lot of success to luck and coming from modest means.
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Advantages of Modest Means

  • Growing up in a modest family is a big advantage.
  • If you're going to get anywhere in life, you have to do it on your own.
  • When you succeed, people will say you did it on your own.
  • Mega-wealthy families generally don't produce superstars.
  • Most successful people today didn't come from a Forbes 400 family.
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Challenges of Wealth

  • If you know you're not going to starve or be on the street, you don't have quite the drive.
  • People will think your success is due to your father or mother's wealth.
  • It's complicated for a girl than a boy to be in the shadow of a prominent father.
  • Famous men have children who don't want anything to do with the family business.
  • These people have nice lives but don't generally change the world.
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Pushing for Achievement

  • Not being able to have the things you want pushes you to achieve more.
  • When you achieve something, people will say you did it on your own.
  • It's challenging for a son to be in the shadow of a prominent father.
  • Daughters have it a little bit different for lots of reasons.
  • Some children of famous people don't want anything to do with the family's wealth.
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Raising Children

  • David Rubenstein worried about creating an artificial environment for his children to succeed.
  • He shielded his children from wealth as much as possible.
  • He tried to give his children a good education.
  • Raising children is complicated, especially for wealthy people.
  • Success in life is not just about wealth, but also about raising happy children.
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Success and Happiness

  • Success is happiness.
  • Personal happiness is the most elusive thing in life.
  • Success is not about money or fame.
  • Contentment is a more long-lasting kind of happiness.
  • Life is about making life better for other people and being happy.
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Persuasion and Communication

  • Life is all about persuading people.
  • There are three ways to persuade and communicate: orally, writing, and leading by example.
  • Leading by example is the most powerful way to persuade.
  • David Rubenstein tried to educate his children about the value of hard work, reading, and treating other people well.
  • Children learn by seeing what their parents do.
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Conclusion

  • Raising children is challenging, but leading by example is the best way to teach them.
  • Success is not just about wealth, but also about personal happiness and fulfillment.
  • Life is all about persuading people, and leading by example is the most powerful way to persuade.
  • David Rubenstein tried to educate his children about the value of hard work, reading, and treating other people well.
  • Children learn by seeing what their parents do.
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Abraham Lincoln as the Greatest American Leader

  • Lincoln was not well-known when he was elected.
  • He had never held any federal office except for a congressman for two years.
  • Seven states seceded before he even took office.
  • He fought a war to keep the country together and freed the slaves through the Emancipation Proclamation.
  • He held the country together with eloquence and humility.
  • He believed in the Declaration of Independence and the Constitution and wanted to hold the country together for that reason.
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Why Lincoln Didn't Let the South Secede

  • Lincoln believed that the country was supposed to be one country, according to the Declaration of Independence and the Constitution.
  • He did not want to be the person who allowed the country to fall apart.
  • He was not interested in freeing the slaves initially.
  • He realized that it was not helpful to continue to have slavery and still be able to win the war.
  • He ultimately came to the conclusion that freeing the slaves was the right thing to do.
  • He did not think that blacks and whites could live together and wanted to colonize them.
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Patriotic Philanthropy and Updating National Monuments

  • David Rubenstein has done patriotic philanthropy by updating national monuments.
  • He helped update Thomas Jefferson's ranch and made sure that the signs of his being a slave owner were there and built up as well.
  • He believes that studying the past will help us in the future.
  • He thinks it is important not to whitewash history and to tell the truth about it.
  • He believes that rewriting history is not in line with our values today.
  • He takes an unflinching look at history.
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Conclusion

  • David Rubenstein believes that Lincoln was the greatest American leader because he held the country together with eloquence and humility.
  • Lincoln believed in the Declaration of Independence and the Constitution and wanted to hold the country together for that reason.
  • Lincoln did not let the South secede because he believed that the country was supposed to be one country.
  • David Rubenstein believes that studying the past will help us in the future and that it is important not to whitewash history.
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The Importance of Knowing History

  • Harvard philosopher said those who don't remember history are condemned to relive it.
  • The theory of civilization is advancing, but we won't advance if we don't know the mistakes of the past.
  • Preserving buildings, documents, or books can help people get educated about history.
  • People know little about their own history, and it's amazing how little they know.
  • Graduating from any college in the US today doesn't require taking an American history course.
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The State of Literacy in the US

  • 800,000 people a year become upcoming citizens and have to take a citizenship test.
  • There are 100 potential questions, and you have to get six of them right.
  • 91% of people who take the test pass.
  • 41,000 Americans in all 50 states were asked to pass the same test, and in 49 out of 50 states, the majority couldn't pass it.
  • People don't know much about history and civics, and it's sad but true.
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