The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

20VC: The Memo: The $23BN Company You Might Not Have Heard Of: Tradeweb, The Story of 27 Years of Compounding Growth Leading to the Market Leader with $1.4BN in Revenue and 50% EBITDA Margins

Mar 29, 2024

Billy Hult, CEO of Tradeweb Markets, shares insights on his journey from a betting shop worker to leading a $23BN company. Topics include CEO role definition, hiring world-class teams, balancing IQ vs EQ, and lessons on delegation. Reflects on money, power, family dynamics, and making big bets for company growth.

51:13

Creator website

Episode guests

Billy Hult

AI Summary

Highlights

AI Chapters

Episode notes

Podcast summary created with Snipd AI

Quick takeaways

Success as a CEO requires humility and strategic vision, not just pedigree.

Childhood experiences shape adult personality, emphasizing passion and resilience.

Effective leadership entails balancing accountability and empowering the team for organizational success.

Deep dives

Traits of a Successful CEO

Success as a CEO is attributed to old-fashioned grit, resilience, and street smarts, not pedigree. It's crucial for a CEO to manage ego, balance relationships, and exhibit strong leadership attributes. The story of TradeWeb, a $23 billion juggernaut connecting financial giants, showcases the importance of CEO qualities like humility and strategic vision. Important considerations for CEOs include people skills, fostering talent, and maintaining a balance between assertiveness and openness.

Exploring Personal Growth, Authenticity, and Leadership Dynamics

02:36

Encouraging Ambition in Privileged Children

00:48

Success stems from early signs of exceptionalism

01:36

Insights on Trump's Electability, Financial Markets, NYC, and CEO roles

01:30

Introduction

3min

Embracing Strengths and Authentic Engagement

4min

Navigating the Complexities of CEO Leadership

19min

Privilege, Ambition, and Work Ethic

4min

Exploring the Complexities of Being in a Public Company and Managing Market Pressures

2min

CEO Reflections on Big Bets and Personal Regrets

15min

Company Vision and Strategies for Future Growth

4min

Billy Hult is Chief Executive Officer of Tradeweb Markets (Nasdaq: TW), as Billy puts it, they are the "electronic interface that connects Citadel and Goldman". They are also one of the most under the radar but incredible businesses of the last 20 years. Through no glitz acquisitions or specific moments, TradeWeb has compounded organic growth for the last 27 years to today, with a market cap of $22BN.

In Today's Episode with Billy Hult:

1. From Betting Shop Worker to Public Company CEO:

How would Billy's teachers and parents have described the young Billy?
Why does Billy think it is so important to have a hard first job when growing up?
What does Billy know now that he wishes he had known when he started?

2. What it Takes to be a World-Leading CEO:

How does Billy define the role of the CEO? What are the core tenets?
What has been the single hardest element of CEOship to learn?
Does Billy care about being liked? How does that impact his management style?
Why does Billy think it is so important for CEOs to make "big bets"? What have been his biggest?

3. Hiring World-Class Teams in 2024:

What have been some of Billy's biggest hiring mistakes? What did he learn from them?
How does Billy weigh IQ vs EQ and hustle? Which wins? Why?
Does Billy think this generation of millennials is too soft?
What are the single biggest lessons Billy has on when to delegate vs when to retain control?

4. Money, Power and Family:

How does Billy approach his relationship to money today? How has it changed over time?
Fame, power or money, rank them from 1-3. How does Billy rank them?
How does Billy describe his own style of parenting? How has it changed over time?

Get the Snipd
podcast app

Unlock the knowledge in podcasts with the podcast player of the future.

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

Save any
moment

Hear something you like? Tap your headphones to save it with AI-generated key takeaways

Share
& Export

Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more

AI-powered
podcast player

Listen to all your favourite podcasts with AI-powered features

Discover
highlights

Listen to the best highlights from the podcasts you love and dive into the full episode

The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch

20VC: The Memo: The $23BN Company You Might Not Have Heard Of: Tradeweb, The Story of 27 Years of Compounding Growth Leading to the Market Leader with $1.4BN in Revenue and 50% EBITDA Margins

Episode guests