This book is such good fun to read. The pace of story telling is relentless, which is what it must have been like to be around this man.
As a tech person with no background (or interest) in Hollywood I was still gripped by his stories. My outsider knowledge is similar to his description of LA movie people ignorant of New York finance people: “Hollywood, where people didn’t know Goldman Sachs from Saks Fifth Avenue”. He worked with so many people moving behind the scenes with such high profile outcomes.
Ovitz transformed the commercial artist representation business, in the process dramatically raising the price and power of talent for the studios. In an industry built on luck and relationships he scaled up hard work and hard ball to make an almost monopolistic agency that often represented all the major actors, directors and producers in each movie so the studio could not play any off against the other.
He then expanded the agency to handle mergers and acquisitions, selling 2 of the 7 Hollywood studios to Japanese companies. And extended further to advertising, winning a $31 million Coca Cola contract from a standing start in the advertising industry. He would have done much more if it was not for the guilds stopping him.
The CEO of Disney did not allow him to succeed when he hired him as the COO of Disney. But Orvitz got $130 million severance out of it. He latest act was to become a successful technology investor in Silicon Valley.
The secret to his enormous success is clear - he works harder and longer than anyone else, and his hard work has compound interest. I do not understand how he managed to sustain such a pace but he really did.
I also do not understand why he still cares because he clearly does. Once you get $130 million for being fired and the court confirms that you were mistreated by your employer, why does the mistreatment still hurt you? Once you sell Columbia to Sony, why does your LA colleagues’ annoyance at your being in Japan during the deal still upset you? Once you have signed up every important actor and director away from their previous agent, why be angry that the agents you beat and the buyers whose buying power you crushed are angry at you? But the book is full of hurt, upset and anger. Even though he won, and won massively, I don’t think he got to enjoy it.
Nevertheless, what an extraordinary collection of stories of winning in difficult situations. One story stuck with me from his founding of the agency. He and four cofounders left their previous agency employer to found the new agency. The employer found out about this before they had fully set up because the banker setting up their account was friends with the employer and tipped off the employer. The employer fired them, blocked others in the industry from working with them, and convinced another company to sue them for the trademark name of the new agency. A spurious lawsuit, but it would take time and money to fight and the new team has neither. Back against the wall, Mike remembered that the massive company suing his tiny startup was being investigated by the Federal government anti trust team. Hands shaking, voice quivering, he calls the company’s lawyer and says he will tip off the federal government that this lawsuit is another example of monopolistic practices. He gives the lawyer 2 hours to send a letter cancelling the law suit before Mike will call his contact. Mike has no such contact. But in 1 hour and 45 minutes he has a hand delivered a letter cancelling the law suit.
There is always a move.
It’s inspirational to read Mike share some of his moves.
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From the Publisher
Excerpted from WHO IS MICHAEL OVITZ?
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Me and my neighbor Dustin Hoffman at Broad Beach, Malibu. |
With Bobby DeNiro and Penny Marshall at Marty Scorsese's surprise fiftieth birthday party. |
Me trying to convince Bill Murray of something very important that I no longer remember at the Ghostbusters premiere. |
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The team in David Letterman's new office at CBS after we closed his deal. |
With Tom Cruise and his first wife, Mimi Rogers, at the opening of The Color of Money. |
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Reviews with images
Great book. Couldn't put it down.
5 stars, what a great story from a very hard working man. This book is brilliant!
Top reviews from other countries
Rational Thinker
Best business book you will ever read!
Reviewed in India on October 4, 2021
MJW
If you like hollywood business stories you'll love this. A great read!
Reviewed in Australia on October 23, 2018