Michael Ovitz

So we had the owners of MGM, which were creditly in a bank, which I was a consultant to the chairman. We had the owners of Universal Studios, which was Matsushita Electric. And we had the owners of CBS Records and Columbia, which was Sony. And we had the owners of Bertelsmann. I was a consultant to BMJ. And that was pretty much three-fifths of the business.

So we had the owners of MGM, which were creditly in a bank, which I was a consultant to the chairman. We had the owners of Universal Studios, which was Matsushita Electric. And we had the owners of CBS Records and Columbia, which was Sony. And we had the owners of Bertelsmann. I was a consultant to BMJ. And that was pretty much three-fifths of the business.

We didn't have Disney, but they were always on their own. And at the end of the day, you needed a favor. And that's all that business is, is one favor after another. You had to call us. You couldn't call anybody else. Who are you going to call? Ghostbusters? Who are you going to call? There's no one to call. Try getting Jean Perlevard, the chairman of the Credit Lyonnais Bank on the phone.

We didn't have Disney, but they were always on their own. And at the end of the day, you needed a favor. And that's all that business is, is one favor after another. You had to call us. You couldn't call anybody else. Who are you going to call? Ghostbusters? Who are you going to call? There's no one to call. Try getting Jean Perlevard, the chairman of the Credit Lyonnais Bank on the phone.

Good luck. Just doesn't happen. It's not simple. And remember, in the 40s, 50s, and 60s, up until the Mid-70s, you could get any owner of any studio on the phone. You could see them in a restaurant. That changed fast, and we saw it coming.

Good luck. Just doesn't happen. It's not simple. And remember, in the 40s, 50s, and 60s, up until the Mid-70s, you could get any owner of any studio on the phone. You could see them in a restaurant. That changed fast, and we saw it coming.

Well, that's 40 years ago. Yeah.

Well, that's 40 years ago. Yeah.

Well, it's what we've talked about. You asked me how I learned how to be an investment banker, and to answer your question, which I've avoided skillfully, my son, my oldest son, Chris, asked me the same question when I was doing it. He said, Dad... how the hell did you figure this out? He said, this is complicated stuff. I said, Chris, I learn on the job every day. I watched Steve Schwartzler.

Well, it's what we've talked about. You asked me how I learned how to be an investment banker, and to answer your question, which I've avoided skillfully, my son, my oldest son, Chris, asked me the same question when I was doing it. He said, Dad... how the hell did you figure this out? He said, this is complicated stuff. I said, Chris, I learn on the job every day. I watched Steve Schwartzler.

I watched Pete Peterson. I used to go to lunch with Roger Altman and pick his brain. I am an insatiable sponge. If I can get 30 minutes with Marc Andreessen or a meal with Peter Thiel just to listen, to me, that's a quadruple net positive because I learned so much. And I have to tell you that I didn't know what I was doing, but I didn't need to.

I watched Pete Peterson. I used to go to lunch with Roger Altman and pick his brain. I am an insatiable sponge. If I can get 30 minutes with Marc Andreessen or a meal with Peter Thiel just to listen, to me, that's a quadruple net positive because I learned so much. And I have to tell you that I didn't know what I was doing, but I didn't need to.

I learned it as I did it because it's pretty much common sense. I could read a balance sheet. I knew what the SEC checklist was to make, you know, that had to be met. I knew enough. I had Herb Allen II as my mentor telling me, what to do, what not to do. Like I was, if I was gonna do something incredibly stupid, he had the nicest way of telling me how stupid I was.

I learned it as I did it because it's pretty much common sense. I could read a balance sheet. I knew what the SEC checklist was to make, you know, that had to be met. I knew enough. I had Herb Allen II as my mentor telling me, what to do, what not to do. Like I was, if I was gonna do something incredibly stupid, he had the nicest way of telling me how stupid I was.

And we were on the phone, Herb and I were on the phone 10 times a day.

And we were on the phone, Herb and I were on the phone 10 times a day.

Herb is the most extraordinary man on the planet. And by the way, so is his son. He raised him. I could tell a lot about a guy by their kids. That's the most I learned about a human being is by meeting their kids.

Herb is the most extraordinary man on the planet. And by the way, so is his son. He raised him. I could tell a lot about a guy by their kids. That's the most I learned about a human being is by meeting their kids.

He doesn't talk much, doesn't do press. You Google them, there's nothing. The family's amazing. Herb II was my mentor in banking. I went to him with these ideas, and instead of saying no or trying to steal them, I said, let's do it. He didn't push me away. He didn't think I was nuts. He thought it was a great idea that he and I do it together. Every other bank tried to push me out.

He doesn't talk much, doesn't do press. You Google them, there's nothing. The family's amazing. Herb II was my mentor in banking. I went to him with these ideas, and instead of saying no or trying to steal them, I said, let's do it. He didn't push me away. He didn't think I was nuts. He thought it was a great idea that he and I do it together. Every other bank tried to push me out.