A Secret Confession From Henry Kravis
“I didn’t understand it then. I do now.”
Good morning, everyone.
This week’s newsletter includes: Private equity legend Henry Kravis gave some advice that needs to be read by anyone who works in finance.
A Secret Confession From Investing Legend Henry Kravis
Ravi Gupta resigned from KKR and expected hell from Henry Kravis.
Instead, he got a masterclass in leadership and a secret confession…
In 2015, Ravi Gupta was a high-flyer at private equity firm KKR. But he had been approached to leave his well paid, comfortable role and join a scrappy start-up.
Ravi took the plunge and quit his job at KKR.
Henry Kravis - billionaire co-founder of KKR - found out about Ravi’s resignation and summoned Ravi to his office in New York.
Known for ruthless deal making and immortalised in ‘Barbarians at the Gate’, Henry was one of the most powerful men on Wall Street.
Ravi assumed this meeting would be an attempt to convince him to stay at KKR.
Or worse - a scolding from Henry...
He couldn’t have been more wrong.
Henry asked Ravi to sit down, and immediately congratulated him on his move.
Ravi was stunned: “Henry wanted to share the story of how he and George started KKR. He said he respected my desire to go help build something.”
But Henry’s masterclass in leadership wasn’t the most memorable thing about their meeting.
As Ravi was walking out, Henry stopped him…
Henry: “How old are you?”
Ravi: “I’m 33…”
Henry: “I would do anything to be 33 again…I would do anything to do it over again.”
Looking back on Henry’s parting comment a decade ago, Ravi recalled: “I didn’t understand it then. I do now.”
The start-up Ravi joined was Instacart, where he held roles as CFO and COO.
Despite an incredibly challenging environment and fierce competition from heavyweights such as Amazon and Walmart, Instacart is now worth $10 Billion.
At 80-years-old, Henry shared his view on starting something new:
“Don’t just talk about it, put both feet in and be dedicated - don’t be afraid to fail.”
Recommendation’s
Henry gave a good interview spotting opportunities here. Or click here for Ravi’s original blog post about leaving KKR.
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Joseph Cass