Michael Ovitz: Power, Money, and Politics
Michael Ovitz, legendary Hollywood talent agent and tech investor, discusses his philosophy on building world-class organizations, the importance of continuous learning, and how to maintain success across entertainment and technology sectors. Ovitz shares concrete principles from his tenure at Creative Artists Agency (CAA)—where he built a 70% market share agency—and applies those lessons to modern entrepreneurship, offering insights on organizational culture, momentum, and what separates exceptional performers from the mediocre.
Key takeaways
- • Knowledge is power: Ovitz emphasizes that voracious reading and multi-disciplinary learning are essential to staying ahead; he subscribed to over 200 magazines monthly and reads headlines from major news sources every morning to maintain context across industries.
- • Tell the truth and don't lie: One of CAA's foundational rules was simple honesty—agents were required to say "I don't know, but I'll find out" rather than make up answers, which eliminated the endemic lying problem in entertainment and built trust with clients.
- • Teamwork over ego: CAA required all clients to have multiple agents and mandated that associates answer each other before clients, eliminating individual ego and ensuring every team member stayed up-to-date on client careers.
- • Passion and belief are non-negotiable: Agents were prohibited from recommending material they didn't genuinely believe in; Ovitz applied the same principle to tech investing, where he looks for founder passion, non-arrogance, and the ability to explain ideas succinctly.
- • Failure is a badge of honor in American capitalism: Unlike other cultures, the U.S. rewards entrepreneurs who fail and try again; Ovitz argues this is why American business outperforms globally and why one should never define success by a single setback.
- • Momentum is built, not given: Ovitz describes momentum as an art form requiring extraordinarily hard work, deep education in your field and its periphery, and constant recruitment of top talent from competitors—once built, it cannot be stopped or momentum will collapse.
- • Success is multifaceted, like a Seurat painting: Ovitz defines success not as one thing but as many small "dots"—family, learning, building businesses, art collecting, contributing to institutions—that together form a complete picture over time.
Recommendations (16)
"First thing I read, believe it or not, is the New York Post. I read the New York Post because I love the way they report the news. It's short. I can get a snapshot of what's going on very quickly."
Michael Ovitz · ▶ 1:02:32
"I then go right to TechCrunch. I read two or three tech websites that give me information about what's going on."
Michael Ovitz · ▶ 1:03:04
"I scan the headlines of the Drudge Report. Takes me two minutes because I like to see their point of view because it's so different than mine. I always like to be balanced."
Michael Ovitz · ▶ 1:03:18
"Then I jump right into the Financial Times, Wall Street Journal, the New York Times, the LA Times, and the Washington Post."
Michael Ovitz · ▶ 1:03:54
"Then I jump right into the Financial Times, Wall Street Journal, the New York Times, the LA Times, and the Washington Post."
Michael Ovitz · ▶ 1:04:01
"So we'll watch CNN, Fox, and Sky News because you can have the same news reporter, which you do daily, and a different spin on all three."
Michael Ovitz · ▶ 1:03:37
"Because I subscribed to Car and Driver, Motor Trend, Automobile, and one other car magazine."
Michael Ovitz · ▶ 23:53
"Because I subscribed to Car and Driver, Motor Trend, Automobile, and one other car magazine."
Michael Ovitz · ▶ 23:56
"You know, I read Scientific American not diligently, but I read the headlines, looked at, you know, the opening five paragraphs of an article to get a sense of it."
Michael Ovitz · ▶ 24:38
"And I was interested in medicine. So I read the New England Journal of Medicine. I had to look at the New England Journal of Medicine to talk to the 20 department heads."
Michael Ovitz · ▶ 25:00
"I got articles from the Atlantic stripped out of the magazine sitting in a pile. I'm overwhelmed with information."
Michael Ovitz · ▶ 1:01:06
"I'm on the Council of Foreign Relations. I never get to finish the monthly as much as I want to."
Michael Ovitz · ▶ 1:00:58
"My grandson started a new school here in Tribeca yesterday that's called the Alpha School. And it's a completely different angle on education. I really like what I saw. And a lot of it's practical ..."
Michael Ovitz · ▶ 1:13:35
"Then I jump right into the Financial Times, Wall Street Journal, the New York Times, the LA Times, and the Washington Post."
Michael Ovitz · ▶ 1:03:57
Mentioned (1)
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