Michael Ovitz recalls meeting Peter Thiel in the early days of Palantir and learning about the company's initial funding structure.
Opinion
Ovitz: Silicon Valley harmed creativity by training viewers for short content
“The, you know, the one negative thing that the Valley has done for creativity is they have trained viewers, which I thought was impossible, 20 years ago, to consume content differently.”
Opinion
Ovitz: Woke movement constrained film and books, but not music
“It's hard to believe that it's had a huge impact on what you see, what you read, not what you hear. Musicians have been really clever about getting around that, because if you watch some of their music videos, they just do what they want to do, but it's short …”
Opinion
Ovitz: Hollywood's entertainment community is overly insular and siloed
“The thing about Los Angeles and the, and particularly the entertainment community is it's an incredibly siloed community. They don't accept people. Very well from the outside, which, by the way, makes it very inbred, and it's not particularly wise.”
Opinion
Ovitz: Streaming has basically destroyed the legacy entertainment business
“First of all, streaming has basically destroyed the legacy business.”
Assertion Not checkable as stated
Ovitz: Streaming eliminated back-end profit-sharing deals in entertainment
“The entertainment business went from a, you get paid up front, and then you get a piece of the profits. So since streaming's come, you get paid up front, there are no profits.”
Assertion Not checkable as stated
Ovitz: CAA represented 75% of Hollywood talent eight years after founding
“So we basically took 75% of the talent to the company within eight years of starting.”