In this episode of The Delphi Podcast, Tommy sits down with Steve McLaughlin, founder and CEO of FT Partners, to unpack how he left Goldman Sachs at 32 and built one of the most influential investment banks in fintech.
Steve shares the story behind FT Partners’ early days, including how his team took a company that had received roughly $150 million offers and ultimately sold it for $550 million. He explains why FT goes deeper than traditional investment banks, how the firm has built decades-long relationships with founders, and why incentives, founder ownership, and putting your own capital behind your conviction matter.
They also discuss FT’s $50 million investment in Revolut, what Steve looks for in great founders, the work ethic required to build a firm over 25 years, surviving multiple financial crises, and why he believes AI will ultimately be a bigger disruption to financial services than the internet, mobile, or crypto.
Timestamps
00:00 Intro
02:20 Leaving Goldman and Starting FT Partners
11:00 Turning a $150M Offer Into a $550M Sale
18:30 How FT Partners Values Companies
28:30 Building Long-Term Founder Relationships
34:00 Founder Incentives and the Revolut Bet
52:00 What Steve Looks for in Great Founders
1:08:00 The Future of Fintech, Crypto, and AI
Tommy: https://x.com/Shaughnessy119
Steve: https://x.com/FTPartners
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