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Michael Ovitz

πŸ‘€ Speaker
1591 total appearances

Appearances Over Time

Podcast Appearances

Invest Like the Best with Patrick O'Shaughnessy
Michael Ovitz - Turning Potential into Prominence - [Invest Like the Best, EP.418]

If you ask me why David did this, my guess is he wanted someone from the West Coast. He wanted someone that was involved in the media business, and he wanted to bring the mean age of the trustees down a bit and have someone with a culturally contemporary background

Invest Like the Best with Patrick O'Shaughnessy
Michael Ovitz - Turning Potential into Prominence - [Invest Like the Best, EP.418]

point of view that wasn't necessarily just fine art, but I was in a rather unique position in that I not only represented most of the major working directors in the business, filmmakers who made art, but a different kind, but I was an avid, rabid art collector. So it was a twofer, I think, for David. It was the best thing I ever did. And I was fortunate enough

Invest Like the Best with Patrick O'Shaughnessy
Michael Ovitz - Turning Potential into Prominence - [Invest Like the Best, EP.418]

point of view that wasn't necessarily just fine art, but I was in a rather unique position in that I not only represented most of the major working directors in the business, filmmakers who made art, but a different kind, but I was an avid, rabid art collector. So it was a twofer, I think, for David. It was the best thing I ever did. And I was fortunate enough

Invest Like the Best with Patrick O'Shaughnessy
Michael Ovitz - Turning Potential into Prominence - [Invest Like the Best, EP.418]

to be asked to be on the recruit committee for the new director. And this has got to be, this is over 30 years ago. And MoMA was always amazing, back to the days of Blanchette Rockefeller and all the wonderful women in New York that put the early collection together. As a matter of fact, there's a phenomenal book out right now that tells not just the history of MoMA, but explainsβ€”

Invest Like the Best with Patrick O'Shaughnessy
Michael Ovitz - Turning Potential into Prominence - [Invest Like the Best, EP.418]

to be asked to be on the recruit committee for the new director. And this has got to be, this is over 30 years ago. And MoMA was always amazing, back to the days of Blanchette Rockefeller and all the wonderful women in New York that put the early collection together. As a matter of fact, there's a phenomenal book out right now that tells not just the history of MoMA, but explainsβ€”

Invest Like the Best with Patrick O'Shaughnessy
Michael Ovitz - Turning Potential into Prominence - [Invest Like the Best, EP.418]

how European art was rejected in the United States and never made it here till the 40s. And remember, in the 1906, 7, 8, 9, 10, some of Picasso, Braque, Clay, some of the greatest work being done was done in that time frame, completely rejected by the United States. Crazy. And at MoMA, they started collecting at Adelaide. So MoMA always has been on the cutting edge.

Invest Like the Best with Patrick O'Shaughnessy
Michael Ovitz - Turning Potential into Prominence - [Invest Like the Best, EP.418]

how European art was rejected in the United States and never made it here till the 40s. And remember, in the 1906, 7, 8, 9, 10, some of Picasso, Braque, Clay, some of the greatest work being done was done in that time frame, completely rejected by the United States. Crazy. And at MoMA, they started collecting at Adelaide. So MoMA always has been on the cutting edge.

Invest Like the Best with Patrick O'Shaughnessy
Michael Ovitz - Turning Potential into Prominence - [Invest Like the Best, EP.418]

But at the time when we were doing the recruit, we needed someone that could make a dynamic turn in the museum. Because the one thing about an art museum is at the end of the day, It's entertainment for different stratas of social culture. It's not just the elite that look at art or can afford art. There are many people that aren't in that financial category that love art.

Invest Like the Best with Patrick O'Shaughnessy
Michael Ovitz - Turning Potential into Prominence - [Invest Like the Best, EP.418]

But at the time when we were doing the recruit, we needed someone that could make a dynamic turn in the museum. Because the one thing about an art museum is at the end of the day, It's entertainment for different stratas of social culture. It's not just the elite that look at art or can afford art. There are many people that aren't in that financial category that love art.

Invest Like the Best with Patrick O'Shaughnessy
Michael Ovitz - Turning Potential into Prominence - [Invest Like the Best, EP.418]

And they can buy posters. They can buy prints. There's a lot of ways to skin that cat. And MoMA basically was a commercial showplace for people that were tourists to come and look. I remember I had a meeting years ago with the mayor of Rio de Janeiro. A friend of mine asked me to meet with him. And the purpose of the meeting, this is 30 years ago, how do they make Rio a great city?

Invest Like the Best with Patrick O'Shaughnessy
Michael Ovitz - Turning Potential into Prominence - [Invest Like the Best, EP.418]

And they can buy posters. They can buy prints. There's a lot of ways to skin that cat. And MoMA basically was a commercial showplace for people that were tourists to come and look. I remember I had a meeting years ago with the mayor of Rio de Janeiro. A friend of mine asked me to meet with him. And the purpose of the meeting, this is 30 years ago, how do they make Rio a great city?

Invest Like the Best with Patrick O'Shaughnessy
Michael Ovitz - Turning Potential into Prominence - [Invest Like the Best, EP.418]

Yeah. And that was what the lunch was by. I hosted him at my house. He brought like five different associates of his. And I said, look, the thing that defines great cities at the end of the day is is the cultural aspects and the sporting aspects, the places where people gather. So you could have a great city that's beautiful, the architecture's amazing, but there's no cultural ethos in it.

Invest Like the Best with Patrick O'Shaughnessy
Michael Ovitz - Turning Potential into Prominence - [Invest Like the Best, EP.418]

Yeah. And that was what the lunch was by. I hosted him at my house. He brought like five different associates of his. And I said, look, the thing that defines great cities at the end of the day is is the cultural aspects and the sporting aspects, the places where people gather. So you could have a great city that's beautiful, the architecture's amazing, but there's no cultural ethos in it.

Invest Like the Best with Patrick O'Shaughnessy
Michael Ovitz - Turning Potential into Prominence - [Invest Like the Best, EP.418]

So if you look at the best cities in the world from New York to London to Paris, they are loaded with cultural ethos. initiatives and people can get lost in them. I mean, I don't go to any, to Paris or London without making time to see a half a dozen museums, even if it's just for a short touch and go. So my answer to him was build an art collection and promote a couple of your sports teams.

Invest Like the Best with Patrick O'Shaughnessy
Michael Ovitz - Turning Potential into Prominence - [Invest Like the Best, EP.418]

So if you look at the best cities in the world from New York to London to Paris, they are loaded with cultural ethos. initiatives and people can get lost in them. I mean, I don't go to any, to Paris or London without making time to see a half a dozen museums, even if it's just for a short touch and go. So my answer to him was build an art collection and promote a couple of your sports teams.

Invest Like the Best with Patrick O'Shaughnessy
Michael Ovitz - Turning Potential into Prominence - [Invest Like the Best, EP.418]

You have amazing sports stars. And I think that The museum is critical. And in New York, MoMA needed to move to the next level. So we needed a director, and it was a tough assignment because the director has to be intellectually sufficient, a leader, a thought provider, as well as someone who has the ability to see around corners. And it's very tough to do that.

Invest Like the Best with Patrick O'Shaughnessy
Michael Ovitz - Turning Potential into Prominence - [Invest Like the Best, EP.418]

You have amazing sports stars. And I think that The museum is critical. And in New York, MoMA needed to move to the next level. So we needed a director, and it was a tough assignment because the director has to be intellectually sufficient, a leader, a thought provider, as well as someone who has the ability to see around corners. And it's very tough to do that.

Invest Like the Best with Patrick O'Shaughnessy
Michael Ovitz - Turning Potential into Prominence - [Invest Like the Best, EP.418]

Plus a sense of what the constituency wants to see. And that constituency is not just native New Yorkers, but it's visitors. I mean, the amount of tourists we get is staggering. We take 20,000 people a day through the museum seven days a week. You need like a founder in that role. Exactly right. You need someone with a founder's mentality. We were...

Invest Like the Best with Patrick O'Shaughnessy
Michael Ovitz - Turning Potential into Prominence - [Invest Like the Best, EP.418]

Plus a sense of what the constituency wants to see. And that constituency is not just native New Yorkers, but it's visitors. I mean, the amount of tourists we get is staggering. We take 20,000 people a day through the museum seven days a week. You need like a founder in that role. Exactly right. You need someone with a founder's mentality. We were...

Invest Like the Best with Patrick O'Shaughnessy
Michael Ovitz - Turning Potential into Prominence - [Invest Like the Best, EP.418]

lucky enough to stumble on a man named Glenn Lowry, who had absolutely no contemporary art background. He had a PhD in Islamic art, knew nothing about contemporary art, but was smart, articulate, well-spoken, handled people brilliantly, and had this extraordinary burning desire to learn. And everyone that was debating it was saying, well, he doesn't know anything about art.