In investing, inspiration matters. Rubenstein believes that great venture investing relies at least in part on"gut" – successful investors need to have a feel for whether an entrepreneur can make it or not.Investment success comes from expertise. He advises young investors starting out to specialize in one theme in one geographic area, and then build out from there.
But even understanding these downsides, venture capitalists can't be so frozen that they are afraid to do anything. Ultimately, for Rubenstein, the best investors don’t just rely on their investment committee memos. This perspective informs his own commitment to the arts. Rubenstein is the chairman of the Kennedy Center for the Performing Arts, National Gallery of Art, Council on Foreign Relations, and formerly chairman of the the Smithsonian Institution. When I asked him what fatherhood advice he had for me, he told me that “art and culture are very important things for children to learn about. It's not just about reading, writing, and arithmetic.
And to ride this rollercoaster of emotions, the best investors need to be resilient, and remain focused on the craft.