Rick Caruso (Caruso) on Disney-Inspired Retail, Political Leadership, and Why California Is Losing Entrepreneurs

Rick Caruso has spent decades reshaping Los Angeles through projects like The Grove, Americana at Brand, and Palisades Village. In this conversation with Sammi, Rick talks through his entrepreneurial strategy with real estate and beyond. Rick explains how he built a billion-dollar real estate empire by studying people instead of the industry, why he intentionally ignored traditional mall design rules, and the Walt Disney philosophies that shaped his approach to hospitality. He shares why he believes founders need to be comfortable being over their skis, how criticism actually signals progress, and the surprising rituals he still personally does for guests at his properties. Then the conversation turns to Los Angeles. Rick gives an unfiltered breakdown of the Pacific Palisades fires, explaining exactly how Palisades Village survived while much of the surrounding area burned. He walks through the fire prevention systems his team built years in advance, the operational decisions that protected the property, and the broader lessons for government competency and crisis management. Sammi and Rick also discuss why small businesses are increasingly struggling in California, why entrepreneurs are leaving cities like LA and New York, and the political climate that ultimately led Rick to decide not to run for governor.  Follow Sammi Cohen on Instagram  Subscribe to the Social Currency newsletter  Follow Rick Caruso’s work Here’s What Sammi Covers with Rick: 00:00 Rick Caruso’s Social Currency 02:50 Why “Follow Your Passion” Is Bad Advice 05:16 Why Not Knowing the Rules Helped Him Win 08:05 Why Founders Need to Be “Over Their Skis” 09:23 The “Celebrate vs. Isolate” Framework 10:00 Building The Grove Around the Farmers Market 12:08 Why Criticism Means You’re Doing Something Important 14:00 The Hospitality Details Guests Never Notice 18:12 Walt Disney’s Biggest Lesson for Entrepreneurs 22:12 Why People Propose at the Americana Fountain 25:00 Expensive Mistakes 28:32 Why Retail Must Constantly Reinvent Itself 29:14 How Palisades Village Reinvented Retail Layouts 30:00 Why Rick Writes a Fictional Story for Every Project 31:17 What Saved Palisades Village During the Fires 35:05 Why Rick Thinks LA Leadership Failed 37:13 Why Rick Decided Not to Run for Governor 41:00 Why California Needs Business-Minded Leadership 44:18 Solutions to Homelessness in LA 49:29 Why Small Businesses Are Struggling in California 51:45 Rick’s Personal System for Life and Leadership 54:13 Why Entrepreneurs Are Leaving California 56:02 Innovation vs. Naivety for Founders Learn more about your ad choices. Visit megaphone.fm/adchoices