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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]

I started collecting African art the same day. And then I started looking at Picasso very seriously before anyone. This is before Picasso took off. As a matter of fact, there was a period in New York in the early 70s where the New York Times had written a vile review of the late Picasso show at the Guggenheim, and all the dealers had stocked up on it because he had painted 10,000 pictures.

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

It wasn't hard to get. And it all just sat there. No one would buy it. And not for me to disagree with the New York Times, but I went in and bought three paintings for nothing. They were thrilled to sell them to me. Crazy. Because I thought he's a genius. And they re-reviewed the show three months later and said they made a mistake. But those are all things that are important. And for me,

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

It wasn't hard to get. And it all just sat there. No one would buy it. And not for me to disagree with the New York Times, but I went in and bought three paintings for nothing. They were thrilled to sell them to me. Crazy. Because I thought he's a genius. And they re-reviewed the show three months later and said they made a mistake. But those are all things that are important. And for me,

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

It's about, when you talk about excellence and it's about being the best friend, I want to be the best friend I can be to my friends. I want there to be no question of my loyalty to them. It was the same with my clients. I did not work for the movie studios. I didn't care what they thought of me. I didn't work for the networks. I worked for the clientele of CAA.

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

It's about, when you talk about excellence and it's about being the best friend, I want to be the best friend I can be to my friends. I want there to be no question of my loyalty to them. It was the same with my clients. I did not work for the movie studios. I didn't care what they thought of me. I didn't work for the networks. I worked for the clientele of CAA.

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

That was my job, and I worked for my associates. I wanted them protected. I wanted us to function in unison, client and agent. We had a young agent. who we all had assignments, everybody, including me. Her assignment was Warner Brothers. And the guy running the studio wouldn't return our calls, which was weird because we had everybody he needed, but he wouldn't talk to her.

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

That was my job, and I worked for my associates. I wanted them protected. I wanted us to function in unison, client and agent. We had a young agent. who we all had assignments, everybody, including me. Her assignment was Warner Brothers. And the guy running the studio wouldn't return our calls, which was weird because we had everybody he needed, but he wouldn't talk to her.

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

He would only talk to more senior people. And we forbade that. We insisted that if you, Patrick, wanted to package someone in the O'Shaughnessy production, You dealt with the agent that represented CAA and all our clients. That was our conceit. You didn't go to the agent that handled the client. And the guy shut her down.

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

He would only talk to more senior people. And we forbade that. We insisted that if you, Patrick, wanted to package someone in the O'Shaughnessy production, You dealt with the agent that represented CAA and all our clients. That was our conceit. You didn't go to the agent that handled the client. And the guy shut her down.

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

And in a staff meeting, much to everyone's chagrin, I told everyone not to return this guy's call. Period. No emails, no calls, no communication until further notice. This went on. And about three days in, he called me. I didn't return his call. Five days in, his wife called me. I did return her call. And she said, why are you doing this to Bob? And I said, why is Bob being disrespectful to Lori?

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

And in a staff meeting, much to everyone's chagrin, I told everyone not to return this guy's call. Period. No emails, no calls, no communication until further notice. This went on. And about three days in, he called me. I didn't return his call. Five days in, his wife called me. I did return her call. And she said, why are you doing this to Bob? And I said, why is Bob being disrespectful to Lori?

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

And she said, what are you talking about? I said, ask him. So she calls me back. She said, he's taking her to lunch. Then we started calling him again. Because that kind of movement, he hated me for that. And I don't blame him. But- Team probably loved you. Team loved it because they felt supported. Clients loved it because we taught them a lesson and we became even more powerful.

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

And she said, what are you talking about? I said, ask him. So she calls me back. She said, he's taking her to lunch. Then we started calling him again. Because that kind of movement, he hated me for that. And I don't blame him. But- Team probably loved you. Team loved it because they felt supported. Clients loved it because we taught them a lesson and we became even more powerful.

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

And at the end of the day, power was synonymous with success in getting things done as an agent. I'm only talking about as an agent because we were there to protect the clients and to protect the constituency. So am I, was I a good friend of that guy? I was until that moment. And then I decided I wasn't going to be because he shouldn't have done that.

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

And at the end of the day, power was synonymous with success in getting things done as an agent. I'm only talking about as an agent because we were there to protect the clients and to protect the constituency. So am I, was I a good friend of that guy? I was until that moment. And then I decided I wasn't going to be because he shouldn't have done that.

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

He embarrassed her to death in a staff meeting. She was turned red as a beet. She couldn't give a report. So World's Worst Enemy, one of my close friends in Los Angeles called me up, said he needed to see me, said he had been sued by a woman. who worked for him 30 years ago because he thwarted her career. This was not sexual harassment. Never touched her. Thwarted her career.

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

He embarrassed her to death in a staff meeting. She was turned red as a beet. She couldn't give a report. So World's Worst Enemy, one of my close friends in Los Angeles called me up, said he needed to see me, said he had been sued by a woman. who worked for him 30 years ago because he thwarted her career. This was not sexual harassment. Never touched her. Thwarted her career.

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

I said, give me every fact. He did. And I went on a campaign on his behalf because it wasn't right. 30 years ago, she did just fine, but the judge wouldn't throw it out. I'm his friend, and I did some things that probably other people would question. Nothing illegal, but I called the lawyer for the plaintiff, who I know, and gave him my point of view, which was not particularly friendly.

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

I said, give me every fact. He did. And I went on a campaign on his behalf because it wasn't right. 30 years ago, she did just fine, but the judge wouldn't throw it out. I'm his friend, and I did some things that probably other people would question. Nothing illegal, but I called the lawyer for the plaintiff, who I know, and gave him my point of view, which was not particularly friendly.

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

I thought that it was shaming his firm and told him. And told him I was going to tell everybody else that too, because I thought what he was doing, what his associate was doing to this man was not only inappropriate, there was no legal ground for it. And it was 30 years ago. So yeah, am I world's worst enemy, best friend? Yeah, I think so. And I'm proud of it.