Pete Stavros

Uh, we see that also, like, statistically be very important.

We also see it at KKR, for example, uh, with Peter Stavros and the ESOPs and so on.

So just another comment on that as well in terms of equity ownership, but also as a corollary to the, the, the equity, the, the internal equity alignment at the REAs that are-- that lift out into an independent organization.

Yeah.

You know what? Let's do it over.

I think the Mellow Yellow guys are not litigious.

I hope so.

I doubt that Tommy is litigious either because I don't think he has time to be.

So I'm going to ask you to do something today before you leave in that stream a little bigger.

When I dreamt, I wanted to be a astronaut and I stopped dreaming a long time ago.

So I'm going to ask you guys to go back to those times and start dreaming big and asking for more.

I want you guys to buy a house.

They could be owners.

And we hear this from Pete Stavros at KKR and others.

So all of a sudden, you change the mindset.

Now there were some, what? We can't afford this.

I think my favorite, possibly because a part of my sense of urgency has to do with the fact that the more I can help folks, the better we serve humanity.

I think it's the Pete Stavros work and the nine dean work and the MIT Sloan School Good Jobs Institute work.

And the reason why is because Those three entities and people, Pete Stavros has a team, Aaron Lee Kong has a team, Zainab Tun has a team, but they're leaders of each of their teams.

The work they're doing is singularly focused on workers, families, and strengthening what I'll call everyone beneath the 1% because it hits there.

And the 1% benefit from that, but the focus is the 99%.

So he said, well, if we're trying to battle communism, actually he studied also parts of Asia, if we're trying to battle communism, the best way to do that is make everyone a capitalist.

Hence the employee stock ownership plan.

That's what Pete Stavros, Aaron Lee Kong, Zeynep Tun, that's what they talk about is making everyone an owner.

We were live from KKR's studio in New York City.

We sat down with KKR partner and co-head of private equity, Pete Stavros.

This was a special podcast recorded live during AGM's first RIA field trip.

I think the next decade is moving from balance sheet arbitrage, income statement arbitrage, and tinkering to total cultural transformation.

So the way I see it is there's room for evolution, for people to learn that something as basic as we're better off when we have empathy and when we're all a part of the team and we all have ownership in society.

Pete Stavros of KKR is kind of, I guess, in some sense, maybe at the opposite end of some other views, which is he found that advancing ownership of everyone in a company, from the receptionist to the C-suite, plus when the C-suite has high levels of empathy, that is the most profitable combination for business performance.

He's...

It's not theory.

You know, we're all a team.

We're all rising together.

And that's what Pete Stavros at KKR...

Pete Stavros' broad-based employee ownership approach is the most successful investment strategy in KKR's 50-year history.