Jan 24, 2024
"I became incredibly passionate about the idea of, 'can you have a huge impact on as many people as possible while also being super successful? Do they have to be mutually exclusive?'" - Michael Weisz
Michael Weisz is the Co-Founder and CEO of Yieldstreet, a groundbreaking private market investing platform with over 450,000 members and a staggering $4B+ invested. Michael is both at the helm of this financial powerhouse and the driving force behind its meteoric rise. The lessons he shares throughout episode 20 of Electrifying Growth, Making Democratization of Investing a Reality, shine bright in business acumen, leadership and personal growth.
Hard Work and Determination
Role models and early life programming greatly impact work ethic. Michael was inspired by his father's drive growing up, reminiscing, "He often left the house by five, six o'clock in the morning. He would travel one or two weeks a month without a problem... That's how hard you work if you want to be successful." His personal journey was not limited to smart financial strategies, but the grind and determination that comes from pretense-free hard work.
Transitioning Leadership
Michael seamlessly transitioned from President to CEO of Yieldstreet in July of 2023. He reflects on his journey, stressing the importance of a unified strategy and maintaining clear messaging as CEO. He states, “People see me here everyday, this is not about putting on a show. This is about being authentic. Everything I say and do has to have meaning, intentionality, and consistency.”
Beyond Yieldstreet
The acquisition discussions, like that of Cadre by Yieldstreet, offer a fascinating case study in growth. "Cadre had developed some unique regulatory and technology solutions, which we are excited about, have been wanting to build, but hadn't got around to it yet. I think those are the four major things: revenue growth, OpEx synergies, cross selling into new channels, and differentiated distribution." This strategic move demonstrates how to be a holistic investment destination, a tactic growth firms can mirror to bolster confidence among investors.
Networking and Support System
Every CEO needs a robust sounding board, and Michael doesn’t shy away from revealing his: a blend of peers, board members, family, and personal time. For growth equity firms, this kind of network isn't just desirable, it's essential.
This episode truly is an insider's guide to creating a powerhouse alternative investment firm filled with key strategies and proven tactics. You’ll walk away with a deeper understanding of the fintech sector, how to cut through economic noise, and how to leverage your hard work and network to build something monumental.
