Issue link: https://tmcpulse.uberflip.com/i/1125769
33 t m c » p u l s e | j u n e 2 0 1 9 JA | Most medical research doesn't work. Most venture companies don't work. Most policy ideas that we're working on aren't going to work. But you have to work on problems that are big enough and ideas that are scalable such that when you find something that does work, it has a real impact. With Laura, I think we have a great comple- mentary skill set. We look at issues from slightly different perspectives; we have different life and career backgrounds. Our approach to a problem or a proposal is a little bit different, so if it passes both our tests I think it's in a good place. Beyond that, I'll default into getting deep into the weeds on the very specific technical aspects of a problem. Laura's great skill is understanding how the broader system works. Whether it's, How does this foundation as an enterprise function day to day? or What should we be doing as a founda- tion to maintain relationships with policymakers? She's always looking at things from a macro stand- point, where I'm very much micro. Q | You signed The Giving Pledge created by Bill and Melinda Gates and Warren Buffett, which means you've committed more than half of your wealth to philan- thropy or charitable causes. How do you communicate your values to your three children and also ensure that they will recognize the value of hard work? LA | That's the core of parenting, right? Communicating your values. Making your children productive citizens and people who take pride in their work. We try to establish a standard of excellence in our home in terms of hard work and pairing that with empathy and humility. We do our best to give them context and to keep them grounded. JA | Our intent has always been to give away 99 percent of our worth. What we want to give our kids is not a pile of cash, because when you look back, historically, that hasn't always led to the best results. What we're giving our kids is opportunity. We're able to use our resources to give them an amazing opportunity in life, so we have high expectations as to what they do with that opportunity. Q | What are your kids interested in? Anybody want to be a hedge fund manager or a lawyer or a philanthropist? LA | It's too early to tell. Our one daughter is an artist and an academic. The other two are very athletic and academic—more STEM-oriented. JA | Our boy has already plotted his career. He's going to play professional baseball, then become the GM and then become the owner. He's 8. Laura and John Arnold were interviewed by Pulse editor Maggie Galehouse. The conversation was edited for clarity and length. With pharma pricing, there is a consensus that there's a problem. There may not be a consensus on who the culprits are and what the solutions might be, but very few people would argue that the system is optimal. — LAURA ARNOLD