Snapshot · My First Million
Lloyd Blankfein argues that anxiety — looking around corners for problems — was a genuine asset in running a risk-taking financial firm, even if it burdened his personal life.
Where this was said
At 43:58 · chapter starts 43:53
The episode's closing chapter is the most wide-ranging and in some ways the most revealing. Blankfein, who advises every young trader to study history rather than finance, guides Sam through his personal reading list with genuine enthusiasm. Barbara Tuchman gets extended praise for Guns of August and A Distant Mirror — the latter an account of 14th-century European life during the Black Plague, the Hundred Years' War, and the Papal Schism, which Tuchman framed as a mirror on Cold War anxieties about nuclear annihilation. Blankfein's point is explicitly practical: those people survived that era, and the patterns that produced their crises rhyme with ours [1] — Lloyd Blankfein "Blankfein's advice to young traders isn't to read balance sheets — it's to study history. Patterns recur. The current turbulence isn't unpr…" 58:00 . He describes rereading Robert Caro's The Power Broker 40 years after his first reading and finding that Robert Moses's achievements had grown in his estimation — not because the flaws diminished, but because after decades of trying to build things himself, he understood the degree of difficulty differently. The conversation spills into the American Revolution, founding fathers, Columbus, and Sacagawea — united by Blankfein's core thesis: context and historical perspective are the antidote to the kind of presentism that makes every generation believe its problems are uniquely dire.
Blankfein inherited anxiety from his father, passed it to his kids, and spent decades looking around corners for problems. Running a firm with a massive balance sheet full of price risk, that anxiety was exactly the right wiring.
Lloyd Blankfein has not personally paid a single bill in over 40 years — his wife Laura manages all household finances through a bill-paying service.
When Lloyd Blankfein bought a small beach house early in his Goldman career, the closing cost exceeded the entirety of his and his wife's combined savings.
Young Blankfein read The Power Broker and fixated on Moses's flaws. After 40 years of trying to get things done and build institutions, he reread it and Moses's achievements shot up in his estimation. The flaws hadn't changed. He had.
After buying books and a sweater freshman year at college circa 1971, Lloyd Blankfein had only $11 remaining to his name.
Lloyd Blankfein recommends studying history for investors because, as paraphrased from Mark Twain, 'history doesn't repeat, but it rhymes' — patterns always recur.
The U.S. Surgeon General's 2023 report on loneliness found that half of American adults report feeling lonely, marking a widespread epidemic of social isolation.
In a peer-reviewed study, Brain.fm's audio technology was shown to increase focus-related brainwave activity by 119%, according to the show's sponsor read.
The Easterlin Paradox shows that wealthier nations — and the wealthiest neighborhoods within them — tend to have the highest rates of anxiety, depression, loneliness, and suicide.
Mental health challenges are nearly universal — BetterHelp's own research found the majority of Americans experiencing symptoms right now.
When applying for Medicaid to cover nursing home costs, there is a 5-year look-back period that can disqualify applicants who gave away or spent down assets.
A broken pipe filled the Bad Friends studio with what the hosts identified as hydrogen sulfide — microscopic fecal aeroparticles — that the crew denied smelling.
Fei-Fei Li's father's liver surgery performed by a da Vinci robot resulted in 10 times less blood loss than a typical open liver surgery, thanks to laparoscopic precision.
Approximately 115 million adults in the US currently have prediabetes, most of whom are unaware, according to the Lingo sponsor segment.
Drug overdose deaths in the US fell from 110,000 to 80,000 in 2024, and then to roughly 70,000 — the largest single-year drop the CDC has ever recorded.
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