WHAT MAKES A GOOD LEADER? I’ve been reading and loving the recent biography about @TomBrady, particularly how he managed to inspire and push a team to become a dynasty. It’s made me reflect on leadership in general. Yesterday, @MikeBellafiore called a firm-wide meeting due to underperformance. His message wasn’t negative. Nobody was scolded or yelled at. Instead, he acknowledged the problem, had senior leaders propose solutions and share their perspectives, and expressed his belief in the team’s ability to improve. It was a great example of leadership. Many of the world’s most successful leaders are highly competitive, intense, and demanding. Sometimes to the point of being massive assholes. Think Steve Jobs, Elon Musk, or Michael Jordan. When I led a trading floor, I was intensely competitive and, at times, a huge asshole. Looking back, I think much of that behavior was counterproductive. But I also recognize where it came from: caring deeply, having extremely high standards, and constantly pushing myself and others toward their limits. As I’ve grown and matured, so have my views on leadership. I increasingly believe the most important traits are: 1. Leading by example. You’re willing to get in the trenches alongside your team, as Brady consistently did. You hold yourself to at least the same standards you expect from others. 2. Bringing out the best in people. You challenge people to grow beyond what they thought possible, even when that process is uncomfortable. 3. Putting the greater good first. You make decisions based on what’s best for the team or organization, even when those decisions conflict with your own interests or those of individuals you care about. 4. Taking ultimate ownership. You accept responsibility for outcomes, communicate expectations clearly, and ensure people understand the consequences of their actions. 5. Establishing the culture and standards. You create an environment that rewards excellence, accountability, continuous improvement, and collective success. As silly as it might sound, I actually think Ted Lasso is an amazing role model for leadership. His ability to connect with people, understand what motivates them, and bring out their potential is something I deeply admire. However, even today, I still believe there are times when a leader needs to be willing to be perceived as the asshole. Sometimes a message needs to be delivered forcefully. Sometimes people need to understand the gravity of their underperformance and the consequences of failing to improve. Sometimes you have to make difficult, unpopular decisions that upset people in the short term but ultimately serve their development or the greater good. And different individuals respond to different approaches. Some thrive under intense pressure and direct criticism. Others perform best when challenged through encouragement, trust, and positive reinforcement. A great leader understands those differences and adapts accordingly without compromising their standards. What I’ve come to appreciate is how difficult it is to strike the right balance. Push too softly, and you risk complacency and mediocrity. Push too aggressively, and you risk undermining the very people you’re trying to develop. The truly great leaders, whether nicely or meanly, set a standard and intensity so far greater than the individual would hold themselves to and they hold the group to it even at the expense of the feelings of the individual.