Wednesday, October 2, 2024

20VC: The Memo: The $23BN Firm You Have Not Heard Of: Tradeweb, The Story of 27 Years of Compounding Progress Resulting in the Market Chief with $1.4BN in Income and 50% EBITDA Margins

Posted on twenty ninth March 2024 by Harry

Billy Hult is Chief Government Officer of Tradeweb Markets (Nasdaq: TW), as Billy places it, they’re the “digital interface that connects Citadel and Goldman”. They’re additionally one of the below the radar however unbelievable companies of the final 20 years. By means of no glitz acquisitions or particular moments, TradeWeb has compounded natural development for the final 27 years to right now, with a market cap of $22BN.

In Right now’s Episode with Billy Hult:

1. From Betting Store Employee to Public Firm CEO:

  • How would Billy’s lecturers and oldsters have described the younger Billy?
  • Why does Billy assume it’s so vital to have a tough first job when rising up?
  • What does Billy know now that he needs he had recognized when he began?

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

  • How does Billy outline the function of the CEO? What are the core tenets?
  • What has been the only hardest factor of CEOship to be taught?
  • Does Billy care about being favored? How does that impression his administration model?
  • Why does Billy assume it’s so vital for CEOs to make “large bets”? What have been his greatest?

3. Hiring World-Class Groups in 2024:

  • What have been a few of Billy’s greatest hiring errors? What did he be taught from them?
  • How does Billy weigh IQ vs EQ and hustle? Which wins? Why?
  • Does Billy assume this technology of millennials is just too mushy?
  • What are the only greatest classes Billy has on when to delegate vs when to retain management?

4. Cash, Energy and Household:

  • How does Billy strategy his relationship to cash right now? How has it modified over time?
  • Fame, energy or cash, rank them from 1-3. How does Billy rank them?
  • How does Billy describe his personal model of parenting? How has it modified over time?

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