Jun 6, 2017

Steve Schwarzman on brave men in finance, and Trump

Ng Han Gua / AP

Steve Schwarzman sat down for a deep Q&A with Bloomberg's Jason Kelly, which touches on politics, private equity, Blackstone's history and his love for Law & Order.

  • On Trump: "Every president has some type of ideology, and the current president is basically a capitalist who believes in efficiency... So whenever he sees something that is inconsistent with efficiency, he'll abandon what he said before in order to get to execution. The previous government was different. They had a very strong ideology."
  • Finance philosophy #1: "There are no brave old people in finance. Because if you're brave, you mostly get destroyed in your 30s and 40s. If you make it to your 50s and 60s and you're still prospering, you have a very good sense of how to avoid problems and when to be conservative or aggressive with your investments."
  • Finance philosophy #2: "There are no patents in finance. Everything has a decay curve, in terms of its margins."

Go deeper

Trump weighs quarantine of New York, New Jersey and Connecticut

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

President Trump said on Saturday he is considering a "short term" quarantine of New York, New Jersey and parts of Connecticut — states that have already taken steps to quarantine residents and promote social distancing.

The big picture: With 112,000 people infected, the U.S. has the most COVID-19 cases in the world, exceeding China and Italy, per data from Johns Hopkins. A second wave of American cities, including Boston, Detroit, New Orleans and Philadelphia, are reporting influxes of cases.

Go deeperArrowUpdated 14 mins ago - Health

Q&A: Minimizing your coronavirus risk

Illustration: Aïda Amer/Axios

As the coronavirus continues to spread throughout the U.S., Axios is answering readers' questions about the pandemic — how it spreads, who's at risk, and what you can do to stay safe.

What's new: This week, we answer five questions on smokers' vulnerability, food safety, visiting older parents, hair cut needs, and rural vs. urban impact.

The other coronavirus test we need

Illustration: Sarah Grillo/Axios

Researchers are racing to develop tests that detect whether someone may have developed immunity to the coronavirus, which could help society return to normal faster.

Why it matters: These tests could help people know if they are able to go back to work, as well as aid researchers in tracking the scale and death rate of the disease — key data for current and future pandemic policies.

Go deeperArrow43 mins ago - Health