LINKS: On Failure, AI Hype-ocrisy, the Buy/Rent Arb, and Chase Tightens Up

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Mike Ovitz on Failure

[JR: This is probably one of the best podcasts I’ve ever listened to.]

Podcast: Capital Allocators - Episode: Michael Ovitz – Reinventing Talent and Building Momentum at Treville (EP.455) Listen: Play from 08:37

"I was in London about a month ago at a business dinner with a bunch of very prominent European businessmen. We got around to talking generally, not just about business, but one of them had just had a failure in a business that he started. He brought the subject up. He just wanted to talk about it and we all wanted to help him. One of the things that he brought up is he asked me how was it possible that American businessmen and women, including me, have done some things that are good and have failed at other things, but we just get right back up on the horse and do it again. In Europe, if they fail, they're embarrassed and they go hide. To with, he was talking about moving to Switzerland. I said to him that I don't know how you people are brought up because I'm not a European, but my family and they had no money. No means. I lived in a $3,000 track house with two bedrooms and my grandmother lived with us. My mother and my grandmother from the day I could talk told me that I could be, whatever I wanted to be. But they didn't tell me once. They told me every time I saw them and they would reinforce almost anything I did at school. Anything I did, even if I was terrible at it, it was fascinating. "