Michael Ovitz

When I signed Matsushita as a client, they took me into a room, like a cubby room, and there were stacks of engagement letters from every investment bank in the world, in the world. laying out all their fees and everything else. And Herb said to me, don't ask anybody for anything.

When I signed Matsushita as a client, they took me into a room, like a cubby room, and there were stacks of engagement letters from every investment bank in the world, in the world. laying out all their fees and everything else. And Herb said to me, don't ask anybody for anything.

So I went in and when I closed the deal with Matsushita, a man named Hirata, who was the senior vice president, number two guy in the company, that's how they work it, said to me, what would you like? And I said, nothing. He said, what do you mean nothing? I said, if we're successful, I said, if we're successful,

So I went in and when I closed the deal with Matsushita, a man named Hirata, who was the senior vice president, number two guy in the company, that's how they work it, said to me, what would you like? And I said, nothing. He said, what do you mean nothing? I said, if we're successful, I said, if we're successful,

I want you to get a Brinks armored truck and load it up with gold bars and send it to Beverly Hills to my office. If we're not successful, cover our expenses, we get nothing. He bowed so deep his head hit the table because it was trust. We never had a written document. In 25 years at CA, I didn't have written documents with employees or clients. We never lost a client the whole time I was there.

I want you to get a Brinks armored truck and load it up with gold bars and send it to Beverly Hills to my office. If we're not successful, cover our expenses, we get nothing. He bowed so deep his head hit the table because it was trust. We never had a written document. In 25 years at CA, I didn't have written documents with employees or clients. We never lost a client the whole time I was there.

You never had a written document with a client? No. Sometimes we had what's called guild authorization papers, but they didn't mean anything. Because under the Screen Actors Guild, if a client didn't work for 91 days, they had the right to fire you. Why have a contract? Because it just gives them something to look forward to. I had people stay with us 25, 30 years, never signed a document.

You never had a written document with a client? No. Sometimes we had what's called guild authorization papers, but they didn't mean anything. Because under the Screen Actors Guild, if a client didn't work for 91 days, they had the right to fire you. Why have a contract? Because it just gives them something to look forward to. I had people stay with us 25, 30 years, never signed a document.

But, you know, Herb said, do it. I did it. He was right. I did it with everybody. I never asked Sony for anything. I never asked MGM for anything. I never asked Credit Lyonnais for anything. I never asked anybody for anything. I just got paid. And I got paid obscene sums of money. But we gave them really good advice. And we gave them advice they couldn't get from anybody else.

But, you know, Herb said, do it. I did it. He was right. I did it with everybody. I never asked Sony for anything. I never asked MGM for anything. I never asked Credit Lyonnais for anything. I never asked anybody for anything. I just got paid. And I got paid obscene sums of money. But we gave them really good advice. And we gave them advice they couldn't get from anybody else.

So when we were diligencing the Columbia Pictures Library, I had six of our guys in the library looking at the names of the films and had seen them. They weren't just bankers. They were hyphenates. They had seen the movies. So they could say, yeah, this has value. No, this doesn't have value. They couldn't get that anywhere else.

So when we were diligencing the Columbia Pictures Library, I had six of our guys in the library looking at the names of the films and had seen them. They weren't just bankers. They were hyphenates. They had seen the movies. So they could say, yeah, this has value. No, this doesn't have value. They couldn't get that anywhere else.

And we were spot on with what we said the libraries were worth because we didn't inflate it. The other thing we did, which is quite out of the ordinary, is we told the truth. And that drove people crazy in the entertainment business to tell people the truth was like unheard of because they, they, This is what drove the business.

And we were spot on with what we said the libraries were worth because we didn't inflate it. The other thing we did, which is quite out of the ordinary, is we told the truth. And that drove people crazy in the entertainment business to tell people the truth was like unheard of because they, they, This is what drove the business.

Oh, I hated it.

Oh, I hated it.

No one understands how much I hated it. It was, I don't even remember the name of the magazine, but it was a very nice woman who was the editor. And when I saw that, I panicked. Because that was the beginning of shots to be taken that there's just too big a chance that one of them's going to hit you. Like, why does it matter?

No one understands how much I hated it. It was, I don't even remember the name of the magazine, but it was a very nice woman who was the editor. And when I saw that, I panicked. Because that was the beginning of shots to be taken that there's just too big a chance that one of them's going to hit you. Like, why does it matter?

Because, you know, someone said to me, why did I start this business with Ollie, who's 40 years younger than me? And I've got all these under 30 people working around our office and everything. I said, well, one, it's stimulating. Two, I'm learning a lot from them. Three, they know things I don't because of their age. Four, they're all really smart. So for me, that's like a feeding zone.

Because, you know, someone said to me, why did I start this business with Ollie, who's 40 years younger than me? And I've got all these under 30 people working around our office and everything. I said, well, one, it's stimulating. Two, I'm learning a lot from them. Three, they know things I don't because of their age. Four, they're all really smart. So for me, that's like a feeding zone.