In this episode of the LGA Lighthouse podcast, host Tim Yeung interviews Zak Dychtwald, author of the book Young China: How the Restless Generation Will Change Their Country and the World and founder of the Young China Group. Zak provides a human-centered view of the generational and cultural shifts happening in China, and how they're reshaping global business, family dynamics, and individual identity.

-Understanding China's Innovation Ecosystem: Zak challenges the misconception that China's innovation is solely government-driven. He argues that the country's rapid pace of change has created a population that is exceptionally adaptive and willing to adopt new technologies and products. This, coupled with a fiercely competitive domestic market, makes China a premier proving ground for global products. Companies that can succeed here can often thrive internationally, as Chinese businesses are masters of "one-to-ten innovation" rapidly iterating, improving, and scaling ideas.

-The Clash of Tradition and Modernity: China's Younger generation is navigating a generational gap, as they confront the values of their parents' more traditional generation. While older Chinese generations prioritized hard work, austerity, and delayed gratification to escape poverty, the Younger generation is focused on questions of identity and purpose. This tension is playing out in personal decisions around career, marriage, and family life, challenging long-held traditions.

-Bridging the Generational Divide with Empathy: Despite these generational differences, Zak highlights the strong bonds within Chinese families, particularly through intergenerational child-rearing. This constant, intimate contact between grandparents and grandchildren fosters a level of empathy that helps bridge the generational divide. For family businesses globally, this offers a powerful lesson: understanding and addressing the pressures and aspirations of the rising generation is critical for ensuring a successful and meaningful legacy.

In this episode of the LGA Lighthouse podcast, host Tim Yeung interviews Feisal Alibhai, founder of Qineticare, “the world's first family health office”. Drawing on his experience as a third-generation entrepreneur and a stage-three cancer survivor, Feisal shares a profound perspective on what it takes for families to build true, lasting wealth that extends beyond financial capital.

- Individual Alignment Precedes Collective Success: Feisal emphasizes that no amount of governance structures or family constitutions can compensate for the personal misalignment of individuals. While advisors often focus on building a strong family system, Feisal’s work is dedicated to preparing the individual first. By helping each person build their inner capacity and integrity, in their physical, mental, emotional, and relational health, they are better equipped to show up as their "true self," rather than a fragmented version of themselves. This foundational work on the individual is the key to creating a collective that is sustainable and resilient.

-Redefining Wealth as Well-being: The diagnosis of stage-three cancer forced Feisal to re-evaluate his priorities and his definition of success. He realized that true wealth is not just about a number on a balance sheet; it is about the well-being of the family. He encourages families to invest in their people with the same seriousness they bring to managing capital. This means focusing on proactive health management, including nutrition, sleep, gut health, and mental and emotional well-being, to ensure that the family’s greatest asset, its people, is robust and thriving.

-Shifting from Force to Power: A common obstacle for the rising generation is the fear of failure, particularly in families where success is the norm. Feisal’s work helps families reframe risk and vulnerability. He suggests adopting the explicit norm: "Don't cry over spilled milk." By naming this stance, the older generation can normalize risk by sharing stories of their own stumbles, and the Younger generation is given permission to experiment and learn without the pressure of perfection. This shift from "force" to "power" and from control to collaboration, fosters an environment where the next generation can grow into their full potential.

In this episode of the LGA Lighthouse podcast, host Tim Yeung interviews Ashley Blanchard, a Partner at LGA and an expert in family philanthropy. Drawing on her co-authored study with Wendy Ulaszek for the National Center for Family Philanthropy, Ashley shares insights on how families can successfully engage the next generation, balance individual interests with collective purpose, and navigate the journey of professionalizing their philanthropic efforts.

Key themes discussed in this episode include:

-The Power of Shared Purpose Over Individual Passion: Contrary to common belief, giving the next generation full freedom to fund their personal passions doesn't guarantee engagement or satisfaction. The study found that later generations are often more eager to collaborate and find a collective purpose. This shared focus not only strengthens family bonds but also creates a more strategic and impactful philanthropic approach, preventing the fragmentation that can occur when everyone gives in their own silo.

-Balancing "I vs. We": Ashley explains that the tension between individual and collective giving is a core challenge in family philanthropy. While allowing for personal giving can be beneficial, families must manage the balance to prevent it from cannibalizing their commitment to shared goals. A clear strategy provides a "north star" that makes decision-making principled rather than personal, helping families avoid awkward "quid pro quo" situations.

-Professionalization and Family's Enduring Role: As family foundations grow, they often hire professional staff to increase their impact. This raises a crucial question for family members: "Why am I still here?" Ashley suggests that the family's value shifts from grant-making to providing strategic guidance and upholding core values. Family members' unique perspective, long-term view, and access to networks are invaluable for navigating ethical and strategic dilemmas, ensuring the foundation's decisions align with the family's legacy and values.