Founders ✓ Claim

Key Takeaways

Best Michael Ovitz quotes:
- “Insecurity and ambition make a powerful cocktail.”
- “I didn’t want to be standard in any way.”
- “I would have been much happier if I hadn’t been so determined to appear all-knowing and invulnerable.”
- “Everyone stopped. I didn’t stop.”
Lew Wasserman’s five rules that created his Hollywood empire
- 1. Tend to the client
- 2. Dress appropriately
- 3. Never divulge information about the firm
- 4. Do your homework
- 5. Never leave the office without returning every single phone call
Michael Ovitz’s founding principle for CAA
- 1. All founding members get even equity
- 2. Get big fast
- 3. Share all clients and serve them as a group; no turf wars and no silos
- 4. Tell the truth
- 5. Create opportunities instead of waiting around for them
Belief comes before ability: “I believe that nobody wants to be treated just as they are. People want to feel encouraged to become more than what they are, to become the best versions of themselves.”
CAA poached talent by assumption: The firm behaved as if the talent was already their client, then made their dreams happen before ever even signing them
- Do the job before you are hired
Know your customer’s problem and present yourself as the solution
Realize that your “good times” are now: Thirty years from now, you will probably regret how you spent your time
Channeling Charlie Munger: Your goal in life should be to build a seamless web of deserved trust; work with the people in this web, and do life with these people – it is all about the people

At the core of Michael Ovitz's success is his relentless work ethic and commitment to mastering his craft. 50 years ago he founded Creative Artists Agency. CAA starts out as just five young guys in a run down office and eventually becomes the most powerful agency in the world. Ovitz's autobiography explains how that happened. As the Wall Street Journal wrote: When the history of Hollywood is written, few people will have played a larger role than Michael Ovitz.

This episode is what I learned from reading (for the 2nd time!) Who Is Michael Ovitz?: The Rise and Fall (and Rise) of the Most Powerful Man in Hollywood by Michael Ovitz.

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#382 Who Is Michael Ovitz?: The Rise and Fall (and Rise) of the Most Powerful Man in Hollywood

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