Investment criteria: people and location

John Caudwell, founder of Phones 4u, built a billion-pound empire from scratch and exited for £1.5 billion after two decades of relentless growth. Starting with monthly losses and facing near collapse after losing 95% of his supply, he rebuilt through sharp commercial instincts and strategic hiring.

In this episode, he shares lessons on scaling to 10,000 employees, hiring elite talent, navigating ruthless suppliers, and building wealth on thin margins. He also discusses philanthropy, legacy, and why success ultimately goes beyond money.

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