CEO Stories: Family Lessons From the Farm to Finance

Listen to the podcast to hear Warren Stephens discuss capitalism and the story of his family’s business.

Arkansas Tough

Why Arkansas breeds tough businesspeople is a mystery, but it’s undeniable that a state with a small population has produced an impressive roster of firms. Walmart, Murphy Oil, Dillard’s, J.B. Hunt, Tyson Foods and Stephens Inc. all owe their success to Arkansas executives. Warren Stephens has never forgotten how toughness that began in the fields with his grandfather would take his family to the boardroom.

Family Philosophy

Fresh out of business school Warren Stephens began working full-time at the family business, soaking up the knowledge of its founders — his father, Jack, and his Uncle Witt. Jack Stephens was fond of saying his goal was to be in business the next day. Warren Stephens came to trust in that philosophy as he watched several high-flying investment firms disappear over the years.

Young Skeptics

Many “experts” failed to follow that philosophy during the 2008-2009 financial crisis. The resulting hardships American workers endured may have contributed to the skepticism some young people feel about capitalism. As Warren Stephens points out, anyone drawn to socialism or communism should look at Venezuela’s recent woes and how China has improved by moving toward a market-based economy.

Positive Impact

Educating young people on the benefits of capitalism is a passion for Warren Stephens. He notes that the smartphones and apps young people so value exist because of businesses, just as once-impoverished areas of Arkansas have blossomed thanks to private investment. Indeed, showcasing such positive impact on society is central to the mission of This Is Capitalism.