How Family Offices Are Disrupting Venture Capital And Private Equity With Ron Diamond Unlearn podcast

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How Family Offices Are Disrupting Venture Capital and Private Equity with Ron Diamond

8d ago 49:41

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What happens when you stop chasing returns and start investing in purpose?

Ron Diamond, Founder and Chairman of Diamond Wealth, believes the future of finance isn’t just about building wealth—it’s about what that wealth can do. As a trusted advisor to over 100 family offices ranging from $250 million to $30 billion, Ron has spent more than two decades helping ultra-wealthy families align their capital with causes that matter.

In this episode, Ron shares how the collapse of Drexel Burnham shaped his perspective on loyalty, legacy, and leadership—and why “patient capital” is poised to disrupt the short-termism of private equity. We explore how purpose-driven investing is solving real-world challenges, from cancer to climate, and what it takes to build sustainable family office infrastructure in an era of unprecedented generational wealth transfer.

And the timing couldn’t be more relevant: family offices are no longer niche players. The number of single-family offices has surged 31% since 2019, with projections reaching over 10,700 globally by 2030. As trillions of dollars transition to the next generation, Ron offers a front-row seat to the values, strategies, and systems needed to steward that wealth wisely.

Ron is also the Founder, Host, and CEO of Family Office World Media, and helped establish the Family Office Program for TIGER 21, where he chairs a national peer group. He lectures at Oxford, Stanford, Harvard, and the University of Chicago Booth School of Business, and was recently appointed Editor-in-Chief of The National Law Review’s first Family Office newsletter. A LinkedIn Top Voice, TEDx speaker, and former hedge fund founder, Ron began his career on Wall Street at Bear Stearns and Drexel Burnham.

Key Takeaways

People Over Companies: Ron’s experience during Drexel’s collapse taught him that relationships—not institutions—are what endure.
Patient Capital Is a Game-Changer: Family offices can think in decades, not quarters, offering strategic advantage over traditional funds.
Purpose Before Profit: Legacy and social impact must anchor investment decisions.
Professionalization Is Essential: Governance, infrastructure, and talent are what turn capital into capability.
The Ego Barrier: Great wealth doesn’t guarantee great management—humility is crucial for longevity.

Five Core Principles from Ron Diamond

1. Guiding North Star: Profit with Purpose

Anchor investments in something bigger than financial return—personal mission, legacy, or societal impact.

→ Tip: Define your North Star early and align capital accordingly.

2. Trust & Relationships First

Back character over credentials. Trust and personal integrity build more resilient partnerships than models or metrics.

→ Tip: Focus on people, not pitch decks.

3. Patient, Long-Term Capital

Think in decades, not exit cycles. Family offices can outperform by holding steady and avoiding short-termism.

→ Tip: Let compounding do the heavy lifting.

4. Professionalizing Family Offices

Family offices must evolve beyond legacy systems—invest in governance, talent, and infrastructure like any top-tier fund.

→ Tip: Treat talent as a profit center, not a cost.

5. Entrepreneurial Philanthropy

Deploy strategic, venture-style capital into social challenges. Purpose and profit can—and should—coexist.

→ Tip: Apply the same rigor to social impact as you do to your investments.

Episode Highlights

00:00 – Episode Recap

Ron Diamond shares how witnessing the downfall of Drexel Burnham sparked his lifelong belief in prioritizing people over companies—and why loyalty should lie with individuals, not brands.

01:39 – Guest Introduction: Ron Diamond

Barry introduces Ron Diamond, Chairman of Diamond Wealth and Family Office World Media, and a leading voice in purpose-driven capital and governance reform.

05:13 – Building a Family Office Syndicate

Ron explains his “first call alpha” model—aggregating capital from 100+ family offices to invest together in private markets.

08:40 – The North Star Philosophy

From Milken’s prostate cancer initiative to Eric Lefkofsky’s Tempus Labs, Ron shows how personal purpose drives breakthrough impact.

11:41 – Listening to Find Values Alignment

Ron’s secret to identifying values-driven leaders: listen more, talk less—and show up without an agenda.

16:43 – Growth Mindset Over Scarcity

Competing with others is outdated—Ron champions an abundance mindset rooted in collaboration and long-term thinking.

20:32 – The Operational Trap for New Family Offices

Ron breaks down why most new family offices fail and how professionalization—from mission statements to succession—can change that.

23:41 – The Power and Pitfalls of Patient Capital

He explores how family offices can outperform PE firms by holding long-term and avoiding short-term incentives.

32:42 – Creating a Playbook for Next-Gen Wealth

From Booth to Stanford, Ron is building the first structured family office curricula focused on governance, values, and impact.

39:31 – Investing in Talent Like an Institution

Ron outlines why top talent needs equity, not just salary—and why underinvesting in people is the silent killer of family offices.

44:34 – Finance Meets Philanthropy

Why family offices—not government or corporations—will solve many of society’s biggest challenges in the next 20 years.

45:31 – Closing Reflections

Ron shares how listeners can follow his work and why patient capital is the future of both wealth and impact.

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How Family Offices Are Disrupting Venture Capital and Private Equity with Ron Diamond

Unlearn

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published 8d ago

MP3•Episode home

What happens when you stop chasing returns and start investing in purpose?