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Dec 21, 2021 · 1h 57m · acquired

CAA (with Michael Ovitz) · Acquired

Michael Ovitz · 1h 14m spoken Ben Gilbert · 15m spoken David Rosenthal · 10m spoken Jessica McKellar · 32s spoken Waseem Daher · 27s spoken
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gold bands on the timeline = statements, start to end. Hover to read, click to jump. CC turns on captions

In this season finale of Acquired, legendary Creative Artists Agency co-founder Michael Ovitz unpacks how CAA revolutionized Hollywood through full-package dealmaking, team-based representation, and bold cross-industry expansions into global advertising, international M&A, and Silicon Valley venture capital.

How this conversation actually went

Every chapter scored 0–10 on four independent dynamics. Hover any point for the reasoning behind the score. Ben and David hold 23.3% of the talking time here. How this is scored →

Ben and David as informed peer 5.0 Guest teaching 4.8 Guest disagreement 1.9 Ben and David pushing back 1.4
05100:0020:0040:001:00:001:20:001:40:004:20–18:23 · Ben and David as informed peer 5/10 Acquired LP Show Public Feed Announcement The hosts set up the narrative arc and prompt Ovitz on the genesis of Jurassic Park. Ovitz recounts how he nurtured Michael Crichton through writer's block and packaged Steven Spielberg and Kathy Kennedy before taking the project to Universal.18:23–29:24 · Ben and David as informed peer 6/10 The Evolution of Agent Loyalty and Lew Wasserman's Legacy David and Ben draw parallels between old Hollywood studio contracts and modern sports leagues, probing the legacy of Lew Wasserman and MCA. Ovitz explains how back-end profit participations evolved and how CAA commanded unprecedented leverage for directors.29:25–37:07 · Ben and David as informed peer 5/10 Monopoly Breakups, Packaging Philosophy, and Cultural Foresight Ben inquires about the antitrust breakup of MCA, prompting Ovitz to share an insider account of Wasserman engineering the divestiture. Ovitz explains CAA's packaging philosophy and how reading hundreds of magazines gave agents cultural foresight.37:08–53:53 · Ben and David as informed peer 5/10 Taking on Madison Avenue: The Groundbreaking Coca-Cola Advertising Campaign Ovitz recounts how CAA bypassed traditional Madison Avenue ad agencies to win the global Coca-Cola account. The hosts connect the corporate figures to their previous Berkshire Hathaway research while Ovitz details the 35-commercial pitch shootout against McCann Erickson.53:53–57:33 · Ben and David as informed peer 3/10 The Founding of Creative Artists Agency at William Morris Ben asks about the initial founding conditions of CAA. Ovitz details the pivotal staff meeting at William Morris over signing Ann Miller versus younger stars, and the firing of mentor Phil Weltman that sparked the defection of the five co-founders.57:34–1:07:58 · Ben and David as informed peer 5/10 Sponsor Message: PitchBook Financial Data Platform After an ad break, David asks if a television background was CAA's secret weapon, but Ovitz corrects the premise by highlighting key differences in packaging television versus film. Ovitz then explains how signing tax attorney Gary Hendler landed Sean Connery, igniting CAA's client roster.1:07:59–1:20:28 · Ben and David as informed peer 5/10 The Matrix Organization: Team Representation, Buck Slips, and Mega-Packages The conversation covers CAA's team-based coverage matrix, discretionary bonus compensation, and internal communication protocols like the buck slip system. Ovitz corrects Ben's estimate of daily phone call volumes and details how packaging rivals like De Niro and Pacino expanded market value.1:20:28–1:35:39 · Ben and David as informed peer 6/10 Corporate Dealmaking: Japanese Conglomerates and Hollywood Studio Sales Ovitz describes CAA's evolution into M&A advisory, facilitating multi-billion dollar studio acquisitions for Sony and Matsushita. He recounts Akio Morita's pitch to Kirk Kerkorian, his performance-based Brinks truck fee arrangement, and Wasserman's struggle to adapt to Japanese ownership.1:35:40–1:39:55 · Ben and David as informed peer 4/10 Generational Succession at CAA, Partner Burnout, and the Disney Presidency Ovitz reflects on partner burnout, the generational transition at CAA, and his contentious tenure as president of Disney under Michael Eisner. He explains how organizational friction and conflicting executive styles made collaboration impossible.1:39:56–1:53:53 · Ben and David as informed peer 6/10 Sponsor Message: NordVPN and Bootstrapped Growth Ovitz reflects candidly on being unsuited to working as an employee, and details how Marc Andreessen and Ben Horowitz helped launch his third career applying CAA's packaging model to venture-backed startups. Ben displays strong research by detailing the specific seller-financing terms of Ovitz's CAA exit.4:20–18:23 · Guest teaching 4/10 Acquired LP Show Public Feed Announcement The hosts set up the narrative arc and prompt Ovitz on the genesis of Jurassic Park. Ovitz recounts how he nurtured Michael Crichton through writer's block and packaged Steven Spielberg and Kathy Kennedy before taking the project to Universal.18:23–29:24 · Guest teaching 4/10 The Evolution of Agent Loyalty and Lew Wasserman's Legacy David and Ben draw parallels between old Hollywood studio contracts and modern sports leagues, probing the legacy of Lew Wasserman and MCA. Ovitz explains how back-end profit participations evolved and how CAA commanded unprecedented leverage for directors.29:25–37:07 · Guest teaching 6/10 Monopoly Breakups, Packaging Philosophy, and Cultural Foresight Ben inquires about the antitrust breakup of MCA, prompting Ovitz to share an insider account of Wasserman engineering the divestiture. Ovitz explains CAA's packaging philosophy and how reading hundreds of magazines gave agents cultural foresight.37:08–53:53 · Guest teaching 4/10 Taking on Madison Avenue: The Groundbreaking Coca-Cola Advertising Campaign Ovitz recounts how CAA bypassed traditional Madison Avenue ad agencies to win the global Coca-Cola account. The hosts connect the corporate figures to their previous Berkshire Hathaway research while Ovitz details the 35-commercial pitch shootout against McCann Erickson.53:53–57:33 · Guest teaching 4/10 The Founding of Creative Artists Agency at William Morris Ben asks about the initial founding conditions of CAA. Ovitz details the pivotal staff meeting at William Morris over signing Ann Miller versus younger stars, and the firing of mentor Phil Weltman that sparked the defection of the five co-founders.57:34–1:07:58 · Guest teaching 6/10 Sponsor Message: PitchBook Financial Data Platform After an ad break, David asks if a television background was CAA's secret weapon, but Ovitz corrects the premise by highlighting key differences in packaging television versus film. Ovitz then explains how signing tax attorney Gary Hendler landed Sean Connery, igniting CAA's client roster.1:07:59–1:20:28 · Guest teaching 5/10 The Matrix Organization: Team Representation, Buck Slips, and Mega-Packages The conversation covers CAA's team-based coverage matrix, discretionary bonus compensation, and internal communication protocols like the buck slip system. Ovitz corrects Ben's estimate of daily phone call volumes and details how packaging rivals like De Niro and Pacino expanded market value.1:20:28–1:35:39 · Guest teaching 6/10 Corporate Dealmaking: Japanese Conglomerates and Hollywood Studio Sales Ovitz describes CAA's evolution into M&A advisory, facilitating multi-billion dollar studio acquisitions for Sony and Matsushita. He recounts Akio Morita's pitch to Kirk Kerkorian, his performance-based Brinks truck fee arrangement, and Wasserman's struggle to adapt to Japanese ownership.1:35:40–1:39:55 · Guest teaching 4/10 Generational Succession at CAA, Partner Burnout, and the Disney Presidency Ovitz reflects on partner burnout, the generational transition at CAA, and his contentious tenure as president of Disney under Michael Eisner. He explains how organizational friction and conflicting executive styles made collaboration impossible.1:39:56–1:53:53 · Guest teaching 5/10 Sponsor Message: NordVPN and Bootstrapped Growth Ovitz reflects candidly on being unsuited to working as an employee, and details how Marc Andreessen and Ben Horowitz helped launch his third career applying CAA's packaging model to venture-backed startups. Ben displays strong research by detailing the specific seller-financing terms of Ovitz's CAA exit.4:20–18:23 · Guest disagreement 1/10 Acquired LP Show Public Feed Announcement The hosts set up the narrative arc and prompt Ovitz on the genesis of Jurassic Park. Ovitz recounts how he nurtured Michael Crichton through writer's block and packaged Steven Spielberg and Kathy Kennedy before taking the project to Universal.18:23–29:24 · Guest disagreement 2/10 The Evolution of Agent Loyalty and Lew Wasserman's Legacy David and Ben draw parallels between old Hollywood studio contracts and modern sports leagues, probing the legacy of Lew Wasserman and MCA. Ovitz explains how back-end profit participations evolved and how CAA commanded unprecedented leverage for directors.29:25–37:07 · Guest disagreement 2/10 Monopoly Breakups, Packaging Philosophy, and Cultural Foresight Ben inquires about the antitrust breakup of MCA, prompting Ovitz to share an insider account of Wasserman engineering the divestiture. Ovitz explains CAA's packaging philosophy and how reading hundreds of magazines gave agents cultural foresight.37:08–53:53 · Guest disagreement 1/10 Taking on Madison Avenue: The Groundbreaking Coca-Cola Advertising Campaign Ovitz recounts how CAA bypassed traditional Madison Avenue ad agencies to win the global Coca-Cola account. The hosts connect the corporate figures to their previous Berkshire Hathaway research while Ovitz details the 35-commercial pitch shootout against McCann Erickson.53:53–57:33 · Guest disagreement 2/10 The Founding of Creative Artists Agency at William Morris Ben asks about the initial founding conditions of CAA. Ovitz details the pivotal staff meeting at William Morris over signing Ann Miller versus younger stars, and the firing of mentor Phil Weltman that sparked the defection of the five co-founders.57:34–1:07:58 · Guest disagreement 3/10 Sponsor Message: PitchBook Financial Data Platform After an ad break, David asks if a television background was CAA's secret weapon, but Ovitz corrects the premise by highlighting key differences in packaging television versus film. Ovitz then explains how signing tax attorney Gary Hendler landed Sean Connery, igniting CAA's client roster.1:07:59–1:20:28 · Guest disagreement 2/10 The Matrix Organization: Team Representation, Buck Slips, and Mega-Packages The conversation covers CAA's team-based coverage matrix, discretionary bonus compensation, and internal communication protocols like the buck slip system. Ovitz corrects Ben's estimate of daily phone call volumes and details how packaging rivals like De Niro and Pacino expanded market value.1:20:28–1:35:39 · Guest disagreement 2/10 Corporate Dealmaking: Japanese Conglomerates and Hollywood Studio Sales Ovitz describes CAA's evolution into M&A advisory, facilitating multi-billion dollar studio acquisitions for Sony and Matsushita. He recounts Akio Morita's pitch to Kirk Kerkorian, his performance-based Brinks truck fee arrangement, and Wasserman's struggle to adapt to Japanese ownership.1:35:40–1:39:55 · Guest disagreement 2/10 Generational Succession at CAA, Partner Burnout, and the Disney Presidency Ovitz reflects on partner burnout, the generational transition at CAA, and his contentious tenure as president of Disney under Michael Eisner. He explains how organizational friction and conflicting executive styles made collaboration impossible.1:39:56–1:53:53 · Guest disagreement 2/10 Sponsor Message: NordVPN and Bootstrapped Growth Ovitz reflects candidly on being unsuited to working as an employee, and details how Marc Andreessen and Ben Horowitz helped launch his third career applying CAA's packaging model to venture-backed startups. Ben displays strong research by detailing the specific seller-financing terms of Ovitz's CAA exit.4:20–18:23 · Ben and David pushing back 1/10 Acquired LP Show Public Feed Announcement The hosts set up the narrative arc and prompt Ovitz on the genesis of Jurassic Park. Ovitz recounts how he nurtured Michael Crichton through writer's block and packaged Steven Spielberg and Kathy Kennedy before taking the project to Universal.18:23–29:24 · Ben and David pushing back 2/10 The Evolution of Agent Loyalty and Lew Wasserman's Legacy David and Ben draw parallels between old Hollywood studio contracts and modern sports leagues, probing the legacy of Lew Wasserman and MCA. Ovitz explains how back-end profit participations evolved and how CAA commanded unprecedented leverage for directors.29:25–37:07 · Ben and David pushing back 1/10 Monopoly Breakups, Packaging Philosophy, and Cultural Foresight Ben inquires about the antitrust breakup of MCA, prompting Ovitz to share an insider account of Wasserman engineering the divestiture. Ovitz explains CAA's packaging philosophy and how reading hundreds of magazines gave agents cultural foresight.37:08–53:53 · Ben and David pushing back 1/10 Taking on Madison Avenue: The Groundbreaking Coca-Cola Advertising Campaign Ovitz recounts how CAA bypassed traditional Madison Avenue ad agencies to win the global Coca-Cola account. The hosts connect the corporate figures to their previous Berkshire Hathaway research while Ovitz details the 35-commercial pitch shootout against McCann Erickson.53:53–57:33 · Ben and David pushing back 1/10 The Founding of Creative Artists Agency at William Morris Ben asks about the initial founding conditions of CAA. Ovitz details the pivotal staff meeting at William Morris over signing Ann Miller versus younger stars, and the firing of mentor Phil Weltman that sparked the defection of the five co-founders.57:34–1:07:58 · Ben and David pushing back 2/10 Sponsor Message: PitchBook Financial Data Platform After an ad break, David asks if a television background was CAA's secret weapon, but Ovitz corrects the premise by highlighting key differences in packaging television versus film. Ovitz then explains how signing tax attorney Gary Hendler landed Sean Connery, igniting CAA's client roster.1:07:59–1:20:28 · Ben and David pushing back 1/10 The Matrix Organization: Team Representation, Buck Slips, and Mega-Packages The conversation covers CAA's team-based coverage matrix, discretionary bonus compensation, and internal communication protocols like the buck slip system. Ovitz corrects Ben's estimate of daily phone call volumes and details how packaging rivals like De Niro and Pacino expanded market value.1:20:28–1:35:39 · Ben and David pushing back 2/10 Corporate Dealmaking: Japanese Conglomerates and Hollywood Studio Sales Ovitz describes CAA's evolution into M&A advisory, facilitating multi-billion dollar studio acquisitions for Sony and Matsushita. He recounts Akio Morita's pitch to Kirk Kerkorian, his performance-based Brinks truck fee arrangement, and Wasserman's struggle to adapt to Japanese ownership.1:35:40–1:39:55 · Ben and David pushing back 1/10 Generational Succession at CAA, Partner Burnout, and the Disney Presidency Ovitz reflects on partner burnout, the generational transition at CAA, and his contentious tenure as president of Disney under Michael Eisner. He explains how organizational friction and conflicting executive styles made collaboration impossible.1:39:56–1:53:53 · Ben and David pushing back 2/10 Sponsor Message: NordVPN and Bootstrapped Growth Ovitz reflects candidly on being unsuited to working as an employee, and details how Marc Andreessen and Ben Horowitz helped launch his third career applying CAA's packaging model to venture-backed startups. Ben displays strong research by detailing the specific seller-financing terms of Ovitz's CAA exit.

speaking balance: gold is Ben and David, purple is the guest (3 minute bins)

0:00 · Ben and David 84% · guest 16%0:00 · Ben and David 84% · guest 16%3:00 · Ben and David 70% · guest 30%3:00 · Ben and David 70% · guest 30%6:00 · Ben and David 1.4% · guest 98.6%6:00 · Ben and David 1.4% · guest 98.6%9:00 · Ben and David 4.7% · guest 95.3%9:00 · Ben and David 4.7% · guest 95.3%12:00 · Ben and David 11.1% · guest 88.9%12:00 · Ben and David 11.1% · guest 88.9%15:00 · Ben and David 25.1% · guest 74.9%15:00 · Ben and David 25.1% · guest 74.9%18:00 · Ben and David 24.1% · guest 75.9%18:00 · Ben and David 24.1% · guest 75.9%21:00 · Ben and David 39.1% · guest 60.9%21:00 · Ben and David 39.1% · guest 60.9%24:00 · Ben and David 50.4% · guest 49.6%24:00 · Ben and David 50.4% · guest 49.6%27:00 · Ben and David 31.5% · guest 68.5%27:00 · Ben and David 31.5% · guest 68.5%30:00 · Ben and David 11.8% · guest 88.2%30:00 · Ben and David 11.8% · guest 88.2%33:00 · Ben and David 13.3% · guest 86.7%33:00 · Ben and David 13.3% · guest 86.7%36:00 · Ben and David 4.1% · guest 95.9%36:00 · Ben and David 4.1% · guest 95.9%39:00 · Ben and David 16.8% · guest 83.2%39:00 · Ben and David 16.8% · guest 83.2%42:00 · Ben and David 2.3% · guest 97.7%42:00 · Ben and David 2.3% · guest 97.7%45:00 · Ben and David 1.1% · guest 98.9%45:00 · Ben and David 1.1% · guest 98.9%48:00 · Ben and David 13.2% · guest 86.8%48:00 · Ben and David 13.2% · guest 86.8%51:00 · Ben and David 11.7% · guest 88.3%51:00 · Ben and David 11.7% · guest 88.3%54:00 · Ben and David 9.1% · guest 90.9%54:00 · Ben and David 9.1% · guest 90.9%57:00 · Ben and David 71.4% · guest 28.6%57:00 · Ben and David 71.4% · guest 28.6%1:00:00 · Ben and David 19.2% · guest 80.8%1:00:00 · Ben and David 19.2% · guest 80.8%1:03:00 · Ben and David 6.2% · guest 93.8%1:03:00 · Ben and David 6.2% · guest 93.8%1:06:00 · Ben and David 17.3% · guest 82.7%1:06:00 · Ben and David 17.3% · guest 82.7%1:09:00 · Ben and David 20.9% · guest 79.1%1:09:00 · Ben and David 20.9% · guest 79.1%1:12:00 · Ben and David 28.1% · guest 71.9%1:12:00 · Ben and David 28.1% · guest 71.9%1:15:00 · Ben and David 18.7% · guest 81.3%1:15:00 · Ben and David 18.7% · guest 81.3%1:18:00 · Ben and David 44.7% · guest 55.3%1:18:00 · Ben and David 44.7% · guest 55.3%1:21:00 · Ben and David 15.6% · guest 84.4%1:21:00 · Ben and David 15.6% · guest 84.4%1:24:00 · Ben and David 1.5% · guest 98.5%1:24:00 · Ben and David 1.5% · guest 98.5%1:27:00 · Ben and David 12% · guest 88%1:27:00 · Ben and David 12% · guest 88%1:30:00 · Ben and David 18.6% · guest 81.4%1:30:00 · Ben and David 18.6% · guest 81.4%1:33:00 · Ben and David 24.8% · guest 75.2%1:33:00 · Ben and David 24.8% · guest 75.2%1:36:00 · Ben and David 1.2% · guest 98.8%1:36:00 · Ben and David 1.2% · guest 98.8%1:39:00 · Ben and David 46.4% · guest 53.6%1:39:00 · Ben and David 46.4% · guest 53.6%1:42:00 · Ben and David 6.5% · guest 93.5%1:42:00 · Ben and David 6.5% · guest 93.5%1:45:00 · Ben and David 10.8% · guest 89.2%1:45:00 · Ben and David 10.8% · guest 89.2%1:48:00 · Ben and David 12.4% · guest 87.6%1:48:00 · Ben and David 12.4% · guest 87.6%1:51:00 · Ben and David 28.7% · guest 71.3%1:51:00 · Ben and David 28.7% · guest 71.3%1:54:00 · Ben and David 89% · guest 11%1:54:00 · Ben and David 89% · guest 11%1:57:00 · Ben and David 0% · guest 0%1:57:00 · Ben and David 0% · guest 0%
Sharpest disagreement ▶ 59:42 Ovitz refutes the host's premise regarding TV packaging

When David asks whether CAA's TV background was their primary secret weapon, Ovitz directly refutes the framing, explaining that packaging film around directors is fundamentally distinct from producer-centric TV packaging.

 Hardest push from Ben and David ▶ 1:14:05 Host pushes on the operational overhead of the matrix model

Ben challenges the rosy presentation of the team model by drilling down on the severe trade-offs in communication overhead and organizational complexity required to coordinate multiple agents per client.

 Biggest teaching moment ▶ 30:12 Ovitz reveals Wasserman's deliberate antitrust maneuver

Ovitz educates the hosts on behind-the-scenes political maneuvering, revealing that Lew Wasserman allegedly asked political contacts to break up MCA so the agency would not leverage him once he controlled Universal.

 Ben and David hold their own ▶ 1:51:48 Host outlines the exact financial mechanics of the CAA exit

Ben demonstrates deep factual mastery of CAA's financial history by citing the exact $200M valuation and the 5-year interest-free seller note structure used when transferring ownership to the Young Turks.
the scores for every segment, with the reasoning behind each
ChapterTopicBen and David as informed peerGuest teachingGuest disagreementBen and David pushing backWhy
Acquired LP Show Public Feed Announcement 5411 The hosts set up the narrative arc and prompt Ovitz on the genesis of Jurassic Park. Ovitz recounts how he nurtured Michael Crichton through writer's block and packaged Steven Spielberg and Kathy Kennedy before taking the project to Universal.
The Evolution of Agent Loyalty and Lew Wasserman's Legacy 6422 David and Ben draw parallels between old Hollywood studio contracts and modern sports leagues, probing the legacy of Lew Wasserman and MCA. Ovitz explains how back-end profit participations evolved and how CAA commanded unprecedented leverage for directors.
Monopoly Breakups, Packaging Philosophy, and Cultural Foresight 5621 Ben inquires about the antitrust breakup of MCA, prompting Ovitz to share an insider account of Wasserman engineering the divestiture. Ovitz explains CAA's packaging philosophy and how reading hundreds of magazines gave agents cultural foresight.
Taking on Madison Avenue: The Groundbreaking Coca-Cola Advertising Campaign 5411 Ovitz recounts how CAA bypassed traditional Madison Avenue ad agencies to win the global Coca-Cola account. The hosts connect the corporate figures to their previous Berkshire Hathaway research while Ovitz details the 35-commercial pitch shootout against McCann Erickson.
The Founding of Creative Artists Agency at William Morris 3421 Ben asks about the initial founding conditions of CAA. Ovitz details the pivotal staff meeting at William Morris over signing Ann Miller versus younger stars, and the firing of mentor Phil Weltman that sparked the defection of the five co-founders.
Sponsor Message: PitchBook Financial Data Platform 5632 After an ad break, David asks if a television background was CAA's secret weapon, but Ovitz corrects the premise by highlighting key differences in packaging television versus film. Ovitz then explains how signing tax attorney Gary Hendler landed Sean Connery, igniting CAA's client roster.
The Matrix Organization: Team Representation, Buck Slips, and Mega-Packages 5521 The conversation covers CAA's team-based coverage matrix, discretionary bonus compensation, and internal communication protocols like the buck slip system. Ovitz corrects Ben's estimate of daily phone call volumes and details how packaging rivals like De Niro and Pacino expanded market value.
Corporate Dealmaking: Japanese Conglomerates and Hollywood Studio Sales 6622 Ovitz describes CAA's evolution into M&A advisory, facilitating multi-billion dollar studio acquisitions for Sony and Matsushita. He recounts Akio Morita's pitch to Kirk Kerkorian, his performance-based Brinks truck fee arrangement, and Wasserman's struggle to adapt to Japanese ownership.
Generational Succession at CAA, Partner Burnout, and the Disney Presidency 4421 Ovitz reflects on partner burnout, the generational transition at CAA, and his contentious tenure as president of Disney under Michael Eisner. He explains how organizational friction and conflicting executive styles made collaboration impossible.
Sponsor Message: NordVPN and Bootstrapped Growth 6522 Ovitz reflects candidly on being unsuited to working as an employee, and details how Marc Andreessen and Ben Horowitz helped launch his third career applying CAA's packaging model to venture-backed startups. Ben displays strong research by detailing the specific seller-financing terms of Ovitz's CAA exit.

Statements from this episode (23)

Disclosure
CAA took a 5 percent overall cut on the Jurassic Park package
“Well, the creative people at 50, which means we had five.”
Michael Ovitz Dec 21, 2021 ▶ 17:13
What-if
Ovitz: Jurassic Park could not be made under old studio system
“If this was done under the old studio system, all of them would have been under contract to a different studio, and the odds of loaning them out were nil, and then the odds of getting this made outside the system would have been almost impossible.”
Michael Ovitz Dec 21, 2021 ▶ 17:50
Assertion Not checkable as stated
Lew Wasserman changed Hollywood by inventing backend profit participation deals
“Prior to that, artists were paid what's called flats, which is a flat fee, and they didn't get a basic participation. And I think that what he did is he changed the entire fabric of the business.”
Michael Ovitz Dec 21, 2021 ▶ 23:14
Insight
Michael Ovitz preferred negotiating with conflicted people to ensure deals closed
“You know, I've always felt, and I still do, I'm really interested in dealing with conflicted people because if you have a conflict, in essence, you want it to work out on both sides. So a lot of times I'll go to someone with a heavy conflict to this day to wor…”
Michael Ovitz Dec 21, 2021 ▶ 26:28
Assertion Not publicly verifiable
CAA represented roughly 45 of the top 50 highest-grossing directors in 1990
“And frankly, as CAA gained momentum in the eighties and early nineties, they didn't have a lot of choice because of the 50 top grossing directors in the, for example, in 90, CAA represented like 45 of them. So it was impossible. You couldn't say no.”
Michael Ovitz Dec 21, 2021 ▶ 27:42
Assertion Not checkable as stated
Ovitz: CAA Doubled Director Mike Nichols's Fee From $2.5M to $5M
“I remember when we signed Mike Nichols, may he rest in peace, a great director. I'll never forget a call he made to me. He was getting two and a half million to direct. And when he became a client of ours, and he, we went to make a deal for him, I called him u…”
Michael Ovitz Dec 21, 2021 ▶ 28:09
Disclosure
CAA never pitched unpackaged ideas or individual clients to movie studios
“And we would never sell any idea or client unpackaged or naked to a studio ever, ever. So anything we did was pre-packaged where we controlled all the elements and our clients controlled their own destiny.”
Michael Ovitz Dec 21, 2021 ▶ 31:18
Assertion Contradicted
CAA packaged 350 films and treated traditional studios strictly as distributors
“Or any of the 350 films that we packaged, Tootsie, Rain Man, go down a forever list, you had a choice. You'd, you'd buy the package, or we'd sell it to somebody else, because we viewed the studios as distribution entities.”
Michael Ovitz Dec 21, 2021 ▶ 32:33
Insight
Ovitz: Magazine editors were six months ahead of culture due to lead times
“My thesis was that art directors of magazines and editors were always six months ahead of, They had to be, because it took three months to get a magazine out, and a month to let it sit on a newsstand. So they had to think six months in advance.”
Michael Ovitz Dec 21, 2021 ▶ 35:06
Assertion Partly supported
Coca-Cola approved all 35 commercials CAA presented in their agency shootout
“We got awarded the account And of the 35 commercials we presented, they approved every single one.”
Michael Ovitz Dec 21, 2021 ▶ 49:15
Assertion Not checkable as stated
CAA ran the Coca-Cola advertising account with six people versus McCann's 300
“So we had McCann Erickson had 300 human beings working on the Coke account. We had six.”
Michael Ovitz Dec 21, 2021 ▶ 51:53
Assertion Supported
Ovitz: CAA was sparked by a William Morris staff meeting signing Ann Miller
“Crazy as it sounds, CAA was born out of a bad staff meeting at William Morris. Where the guy I worked for, who was head of the television department, his name was Sam Weisbord, announced with great pride and passion that he had signed Ann Miller, which will me…”
Michael Ovitz Dec 21, 2021 ▶ 55:05
Insight
Ovitz: TV packaging centers on producers while movie packaging centers on directors
“William Morris was the top television packaging agency, and we all knew how to package television, but it's very different than packaging movies, because in television, the producer is a key element, and in movies, it's the director.”
Michael Ovitz Dec 21, 2021 ▶ 59:46
Assertion Not checkable as stated
Ovitz: CAA launched on $100K debt, repaid it in six months, and stayed debt-free
“And we started our business on a 100,000 dollars, and we never went into debt beyond that, paid that debt off in six months, and never carried 10 cents a debt, ever.”
Michael Ovitz Dec 21, 2021 ▶ 1:00:58
Assertion Not checkable as stated
CAA lost fewer than six clients over a 25-year period
“As a matter of fact, in a 25 year period, I think we lost under six, five or six clients.”
Michael Ovitz Dec 21, 2021 ▶ 1:08:52
Assertion Not checkable as stated
Ovitz: CAA agents handled 200 to 250 phone calls daily
“So an average agent at our place would run 200 to 250 phone calls a day.”
Michael Ovitz Dec 21, 2021 ▶ 1:14:27
Assertion Supported
Ovitz: CAA was first to represent Hoffman, Pacino, and De Niro simultaneously
“So, you know, I, we signed Hoffman, Pacino, and De Niro, which had never been done in history.”
Michael Ovitz Dec 21, 2021 ▶ 1:17:35
Assertion Supported
Sony co-founder Akio Morita wanted a studio because Betamax lost to VHS
“Mr. Morita came to see me and wanted to buy, get into owning content because he was upset that Betamax, which was a superior technology to VHS, was losing to VHS. So he wanted to own a studio”
Michael Ovitz Dec 21, 2021 ▶ 1:24:41
Assertion Not publicly verifiable
Matsushita gave Michael Ovitz $120 million to distribute among deal consultants
“They gave me a hundred and twenty million dollars to pass out to all of the consultants. And I passed out money to everybody generously, because we had Washington lobbyists, we had PR people.”
Michael Ovitz Dec 21, 2021 ▶ 1:30:23
Assertion Supported
Ovitz: Seagram offered Warner Bros $6B cash standstill after buying 14%
“We had quietly accumulated 14% of the stock through Allen and Company for the Bronfman family. And I met with Steve Ross three weeks before he passed away. He was one of the greatest guys in history of the business. And he gave me three hours of his time where…”
Michael Ovitz Dec 21, 2021 ▶ 1:34:45
Insight
Ovitz: Tech investing is the same packaging playbook as Hollywood agency representation
“All of the training I had as an agent has led me to a career in the digital world that's fantastic because what am I doing? I'm packaging. I'm putting young founders together with money and distribution, and nothing different than I did for 35 years. It's all …”
Michael Ovitz Dec 21, 2021 ▶ 1:39:08
Assertion Not checkable as stated
Ovitz: Michael Eisner undercut me at every opportunity at Disney
“When I got to Disney, it was very clear there was a head-to-head conflict, and Michael undercut me every chance he could, and after a couple years, I just didn't want to deal with it anymore”
Michael Ovitz Dec 21, 2021 ▶ 1:39:30
What-if
Michael Ovitz proposed that Disney acquire Yahoo and CBS Records
“When I went to Disney, I put together seven initiatives. That I wrote about in the book that would have made Disney a fortune, starting with buying Yahoo, buying CBS records for two billion dollars, which is worth 10 times, 20 times that right now.”
Michael Ovitz Dec 21, 2021 ▶ 1:41:27
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