""He curated ideas that a lot of really smart people around him created. He just had good taste." Over the course of his business career, Sprecher has achieved success by leaning on the brainchilds of other entrepreneurs. The global exchange CEO said he's led around 50 acquisitions, and confessed that it's "much easier to buy somebody else's hard work and the sacrifice that many others made" and scale it up, rather than start from scratch."
"In the late 1990's, Sprecher bought Warren Buffett's near-bankrupt electric utility company, MidAmerican Energy, for just $1,000. He turned it into the Intercontinental Exchange, and more than two decades later, the company boasts a market cap of $98 billion and more than 12,000 staffers-and has also proudly owned the NYSE for over a decade. And it all panned out because of Sprecher's strategy to curate the brightest minds and most innovative ideas."
Jeffrey Sprecher credits Steve Jobs' curation approach and adopted a strategy of assembling talented people and proven ideas instead of inventing everything internally. Sprecher completed roughly 50 acquisitions to scale existing innovations rather than building from zero. He purchased MidAmerican Energy for $1,000 in the late 1990s and transformed it into the Intercontinental Exchange, achieving a roughly $98 billion market capitalization and more than 12,000 employees, including ownership of the NYSE. Sprecher emphasizes surrounding himself with smart people, discarding poor ideas, embracing strong ones, and scaling others' hard work to drive rapid business growth.
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