Invest Like the Best with Patrick O'Shaughnessy

Michael Ovitz - Turning Potential into Prominence - [Invest Like the Best, EP.418]

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Apr 8, 2025

In this intriguing conversation, Michael Ovitz, co-founder of CAA and a legendary talent agent, shares his insights on identifying exceptional talent across various fields. He discusses his unique 'pilot's checklist' for evaluating individuals and emphasizes the importance of time management as a crucial resource. Ovitz also dives into his transformative leadership at MoMA and the intersection of art and technology. He reflects on the pressures of success, the value of mentorship, and the evolving media landscape shaped by AI.

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ANECDOTE

MoMA's Transformation

Michael Ovitz describes his 35-year involvement with MoMA, highlighting his role in recruiting Glenn Lowry as director.
Lowry's lack of contemporary art background was initially a concern but proved to be an advantage, leading to innovative changes.

ANECDOTE

Lichtenstein's Studio

Ovitz recounts spending time in Roy Lichtenstein's studio, observing his calm and focused artistic process.
This experience provided Ovitz with a sense of grounding and an appreciation for creative processes different from his own.

ANECDOTE

Early Talent Spotting

Ovitz describes his early encounters with Alex Karp and Cecily Brown, recognizing their potential before they were widely known.
He emphasizes the importance of direct observation and personal connection in identifying exceptional talent.

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My guest today is Michael Ovitz. Michael is the legendary talent agent and Co-Founder of CAA or Creative Artists Agency and he is joining me on Invest Like the Best for a second time. Michael started CAA in 1975 and over the next 20 years, he built it into the world's most formidable talent agency, changing Hollywood forever. He shares insights into how he identifies exceptional people across diverse fields - from Hollywood directors like Steven Spielberg to tech founders like Alex Karp of Palantir and venture capitalists like Marc Andreessen. Michael is a force whose expertise extends beyond just people, as he has also become a master in creating institutional momentum, which you’ll hear in his involvement with the MoMA, Gulfstream, and more. We discuss his "pilot's checklist" for evaluating talent, the importance of time as his most valuable resource, and why he believes maintaining excellence is critical in any field. Please enjoy my conversation with Michael Ovitz.

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For the full show notes, transcript, and links to mentioned content, check out the episode page here.

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Editing and post-production work for this episode was provided by The Podcast Consultant (https://thepodcastconsultant.com).

Show Notes:

(00:00:00) Welcome to Invest Like the Best

(00:06:56) Spotting Talent and Building Institutions

(00:08:01) The MoMA Story: Transforming an Art Institution

(00:19:35) The Importance of Relationships and Time

(00:24:32) Building Successful Boards and Teams

(00:34:02) Insights on Leadership and Momentum

(00:44:49) Building Blackstone and CAA

(00:56:32) The Power of Momentum

(00:57:25) Overcoming Fear of Failure

(01:01:52) Strategic Partnerships and Global Influence

(01:17:32) The Importance of Excellence

(01:18:22) Mentorship and Legacy

(01:34:00) The Future of Media and Technology

(01:41:36) Pursuit of Happiness and Lifelong Learning