Blackstone chief executive and co-founder Steve Schwarzman believes that when it comes to businesses optimizing their performance: “Information is power.”
Andrew Ross Sorkin at the World Economic Forum (WEF) in Davos on Tuesday.
His comments come at time when financial markets are increasingly concerned about a serious global economic slowdown, with a long-running U.S.-Sino trade war souring business and consumer sentiment worldwide.
Nonetheless, Blackstone’s Schwarzman said there is an optimal amount of capital for every business strategy.
The New York-based financial giant is the world’s largest business in the alternative asset industry, Schwarzman said, with close to $500 billion in capital at present.
“Interestingly for us, we keep getting better as we get bigger because we know more. There is nothing more desperate than a few people in a room trying to figure out the entire world with almost no help … That is a start-up, that’s why most of them fail,” Blackstone’s CEO said during a panel discussion at WEF.
“When you get to a certain scale, as long as you limit the amount of capital you have for a strategy and you can keep inventing new strategies, then you do actually quite wonderfully well.”
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