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Jared Kushner - The Mechanic - [Invest Like the Best, EP.403]
Invest Like the Best with Patrick O'Shaughnessy
Deep Dive
Why did Jared adopt the 'thank you for this training' mentality when faced with challenges?
Jared adopted this mentality to view setbacks as opportunities for learning and growth, which helped him stay focused on creating the best outcomes rather than being consumed by negative emotions.
What was the $1.8 billion investment in 666 Fifth Avenue and what did Jared learn from it?
Jared invested in 666 Fifth Avenue, a large office building in New York, before the 2008 financial crisis. The deal was complex and faced market challenges, but ultimately, they were able to unlock value from the retail component and salvage the investment. Jared learned the importance of structuring capital for flexibility and focusing on long-term potential.
How does Jared approach negotiations differently in New York real estate compared to other investors?
Jared focuses on building trust and understanding the seller’s needs, rather than over-negotiating details. He aims to create win-win situations and prioritize what is important to both parties.
What was the key to Jared’s success in the Abraham Accords negotiations?
Jared’s success in the Abraham Accords negotiations was rooted in his willingness to listen, understand, and avoid relitigating past grievances. He focused on mutual future interests and economic development, building trust and relationships with leaders who were previously suspicious of U.S. intentions.
Why does Jared believe bureaucracy in government is often inefficient and how can it be improved?
Jared believes bureaucracy is inefficient due to lack of clear objectives, risk aversion, and the absence of incentives for cost-cutting or problem-solving. He suggests bringing in more business-minded leaders who can simplify processes and drive efficiency.
What is Jared’s investment philosophy at Affinity Partners?
Jared’s investment philosophy at Affinity Partners focuses on identifying macro trends, backing exceptional people, finding structural advantages, and asking why Affinity is the right partner. They prioritize long-term, high-impact investments and a disciplined, selective approach.
How did Jared’s role in Operation Warp Speed during the COVID-19 pandemic challenge his problem-solving skills?
Jared had to navigate a highly chaotic and high-stakes situation, working with the military and various government agencies to accelerate vaccine manufacturing and distribution. He focused on breaking down problems into manageable steps and leveraging unconventional methods to overcome bottlenecks.
What are Jared’s key insights from his experience with the Qatar-Saudi reconciliation?
Jared’s key insight was the importance of trust and direct communication between leaders. He facilitated a phone call between MBS and Tamim, which broke the ice and led to a resolution, emphasizing that leaders can achieve more by working together rather than maintaining grudges.
Why does Jared see AI as a significant opportunity and how is Affinity investing in it?
Jared sees AI as a transformative force in various industries, from infrastructure to consumer products. Affinity is investing in AI companies, helping them partner with Middle Eastern investors for CapEx needs, and exploring ways to apply AI in their own portfolio companies to create efficiencies and new products.
What is Jared most proud of regarding his work in prison reform and what is left to accomplish?
Jared is most proud of the criminal justice reform efforts, particularly the First Step Act, which significantly reduced recidivism rates through skills training and early release programs. He hopes the incoming administration will build on these reforms to further reduce crime and improve inmates' lives.
What is Jared’s advice to businesses on how to engage with the Trump administration?
Jared advises businesses to engage respectfully and focus on outcomes rather than criticism. The administration is open to partnerships and pragmatic solutions, and business leaders can achieve more by working collaboratively.
What are the most important elements of the current geopolitical landscape according to Jared?
Jared highlights the Russia-Ukraine conflict, the Iranian nuclear program, and the potential for Saudi-Israel normalization as critical issues. He also emphasizes the importance of a fair global trading system and cooperation on AI between the U.S. and other countries.
How did Jared’s father influence his approach to leadership and business?
Jared’s father taught him the importance of hard work, leadership, and ethical business practices. He instilled a sense of responsibility and the value of family, which shaped Jared’s approach to problem-solving and building trust.
What is Jared’s vision for the Middle East and how does it align with his investment strategy?
Jared’s vision for the Middle East is to integrate countries economically, shifting focus from military spending to infrastructure, education, and innovation. This aligns with his investment strategy by identifying opportunities in regions with rising economic potential and strong political will.
- Viewing setbacks as "training" opportunities.
- Radical acceptance and focus on controllable factors.
- Optimism and positivity lead to better outcomes.
Shownotes Transcript