Capital Allocators – Inside the Institutional Investment Industry Tom Steyer – Investing to Save Humanity (Climate Solutions EP.1, Capital Allocators EP. 300)
Mar 6, 2023
Tom Steyer, founder of Farallon Capital Management and climate activist, shares his journey from Wall Street to advocating for climate solutions. He discusses the urgency of investing in renewables and innovative technologies like battery storage and nuclear fusion. Steyer reflects on his presidential run, emphasizing the moral responsibility of addressing climate change and systemic reform. He highlights the importance of capital allocation in combating environmental challenges and the need for a proactive approach to sustainable investing.
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Leaving Goldman Sachs
- Tom Steyer left Goldman Sachs despite financial incentives to stay.
- He prioritized personal control and a desire to return to the West Coast.
Early Challenges at Farallon
- Farallon faced early challenges like the 1986 market downturn and the 1987 crash.
- These events tested their low-beta strategy and caused Steyer significant stress.
Succession Planning
- Communicate succession plans early and clearly.
- Steyer announced Andrew Spokes as his successor eight years in advance, ensuring a smooth transition.