Jeffrey Katzenberg, Co-founder and Former CEO of Dreamworks Animation

Jeffrey Katzenberg, Co-founder and Former CEO of Dreamworks Animation

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Hey. Hi. Jeffrey hi don't, worry we're, doing. Good everybody's, excited. Thank. You so much for coming all, the way up from LA we appreciate, the visit and excited, to be here we're very excited to have you that was an, incredible, list of accomplishments and, you, started off without getting. A degree, can. You tell us why I. Will. But I you know I actually. I've. Always found in. Speaking. In front of any groups it's actually valuable. For me to know, a little bit about the audience. And. So, if I could just do a really, quick survey, of. How. Many, foams. Are there here that are headed to Vegas tonight could I see a show of hands oh boy. So. I would just want, to give you sort. Of two things that I I might be able to help. You out on the first is likely. Probably. Not a lot of people in this room. That. Could, give you wardrobe, advice, as to how to dress for the 1970s. I actually. Can do that I have knowledge, and experience, there. And. Probably. More, importantly. Than that. You. Should know, that. Right. Around the, corner. From, the Marquee. Club, at. The Cosmopolitan. Is, the. Best pizza. In Las Vegas. It's, called secret, pizza it, is, a secret. But. Now, there are a couple of hundred of you that know the secret, it's, open, till 5:00 a.m. which, is I'm sure right around the time in which you'll be wanting, and Jones and on some pizza so, I. Did. Not go to college. Interesting. Thing that I partnered. In 1994. With Steven Spielberg and David Geffen the. Three of us do actually, do not have a college degree so, of whatever that's worth, I. Didn't. Go to college cuz I actually started, working. Very. Young, as a teenager, I volunteered. For a. Man. Who ran for, mayor. Of New York City John, Lindsay who, had been a congressman on the Upper East Side. And. Lindsay. Was really, an incredibly. Charismatic. Very. Forward-thinking. Very. I. Think. Engaging. And, thoughtful, unique. Liberal. Politician. And. Came. At a time in an era where. Participating. And giving and being involved and civic. You. Know was pretty powerful you know the late 60s, was. You. Know a time, of a lot of. Civil. Rights movements. Really. You. Know changing. Moments in our culture, and our society and, being there. In. Politics. In government was. A very exciting thing and I started, very young as a teenager, and continued. To work and when that moment I actually I did go to college for a moment, I registered, at NYU. Because it was the closest, College to City. Hall and. In. That. Era you actually, only had to hand, your class card in and then show up for exams, so it was a, pretty.

Easy For me to go to college. And, the. I. Think the, first, in 1970. The, first midterm, exam. Overlapped. With, the first, police, strike in a modern, city in America, the, police went. On strike in New York State which had never happened before and I thought I could do better there than. In. A college classroom and that was the end of my college career. What. Did you learn from those years that you've taken into your career later Oh everything. I mean it was just it was a less, were lessons in life and and about. People. And you know, values. And. Seen. The harsh realities, of the, streets of New York and, the goods the bads and the Uglies and honestly, there's not in those, five. Or six seven years that I worked for the mayor I actually saw everything I was. A advance. Man. For the, mayor and. Who, loved to be on the streets of New York felt that he should be there whenever. Wherever. Anything. Exceptional. Or extraordinary, was. Happening, and it required. The, resources. Of government to, be there and respond so every, time at anytime anything bad happened, he. Wanted to show up and make sure that government was there doing its job so whether it's a tenement, would burn down or, subway, accident or a police officer shot in the line of duty or you. Know a water main break or anything that was at all disruptive. He, felt as the leader of the city he should be there front and center to see, that the city did its its job and so for me as an advanced man. It pretty, much put me in the wrong place at the wrong time pretty much every every, day and so, you learn about amazing, amazing. Things about life. And death and, and, you. Know. Moments. Of you, know happiness, and sacrifice, and just everything it's just the entire, rainbow, of colors of you know everything around life were reflected, in those experiences. And I think they you. Know just served me very well and they matured, me in a way and they gave me a confidence, about. Myself. I think which was you, know unique. And and for, somebody so young I had, these life experiences, at an, extremely. Early age and. A, sense of responsibility as, a leader yeah. You can make a difference, you know this idea that you know you. You can't change the course of things I don't I don't buy that about anything but particularly. You. Know I think that and. Even today I think about it people feel, like well if you don't like something what do you do about it and I would say well you have two things, and. And they are invaluable. And, I think we, tend not to, understand. How important, and how valuable they are it's, your voice and your, vote and, so. Right now today you, know we're sort of going sideways here, you know for, for me and politics, today I don't, think there's ever been a more important, time in which we have to exercise our voice in our vote and we, have elections that are coming up later this year we have elections that are coming up and you know a little more than two and a half years and. For. Me in terms of what I'm more. Focused on than anything, else today is I. Would, love to see this next election. Cycle. These next two election cycles particularly. 2020. I would, like to see a participation. In a turnout, in our, democracy. The likes of which our country has never experienced, before because the stakes have never been higher and so. Up for this audience in particular you. Know there's nothing more important, than voter, registration. And voter, participation it, is the foundation of, our. Democracy and it is a choice it is a moment in time in which we actually get to determine, the, course of our country. And our leaders and we only have ourselves to. Thank. Or blame. For. You. Know where we are. Go. Vote. So. That. Call to, foster. Expression, and to hear, voices is that what brought you into Hollywood. No. I wanted. No. I was. 22. Years old, and so Lindsay ran for president in, 1972. I. Worked. In Wisconsin, in Florida which were the two primaries, when. He lost. In. Those primaries, and you. Know went back to city government I did not want to go back to city government cuz I felt like I had done everything that I could do and I wanted some I wanted a new challenge. At. 22. Years old I really had sort, of risen, as far as, I was practical, in you.

Know Government. I, don't. Think I was gonna get made police commissioner, or fire commissioner. And. So. I wanted, to go find a career, in an industry where at least age would, not hold, me back and many, people said go. Look at entertainment. Look at, the. Movie, business because, it is, a place in which you. Know, youth, is actually, a. Valued. Asset not a. Liability and, so that that is actually sort of the the big idea of why and. You. Know I got. A couple little opportunities, but then I had. The really great fortune, of meeting. This. Amazing. Amazing, person. Barry Diller, who. Invented. Something called movies, of the week which we don't have anymore on TV, but it was a really both creative. And an entrepreneur, and he. Had just been made the, chairman, of Paramount. Pictures at, the age of 34, years old just rather extraordinary. And. Barry. Hi Ernie, as his, gofer and. You. Know which I think I went, to work when I was 23 and. And. Then over, the course of the, next 11. Years, that. I worked at Paramount, and I worked for Barry, he, did one. Of the most amazing, things which is. He really genuinely mentored, me he invested in me he believed, in me and he. In. A in a very, really. Sort of almost thoughtful, methodical way, I didn't understand it at the time but he, had me work in every area of the company and so, by the time I was 29, years old so I worked, for six years I was in marketing and distribution and international, and negative. Pickups and TV and I had, all these experiences where, I would work for a year or so in one of these and then he'd move me into something else and I wasn't I didn't, see any grand plan here in this I guess I just was, getting moved or out of debt but. You. Know when I was 29 years old there he usually made me president of the studio and I. Actually. Could. Do the job and, the only reason I could do the job is that because he had taken the time to actually, train. Me and give me the resources to, to. Function. In the job can. You tell us a little bit about a day, in the life as the head of a studio. Well. Yeah, I mean I'll focus. Just maybe narrowly on movies, because they're there, you, know that.

Was What I was doing at Paramount. When I went to Disney it was sort of a broader job because it involved. You, know television and animation, and, much. Wider. Responsibilities. But at Paramount, and running a studio. Really. Is about. Finding. Great ideas, and finding. Great talent. Creating. A. Great, environment, for people to, be able. To. Pursue. And realize dreams. Even, though those dreams in many cases, are. Anywhere. Between improbable, and impossible, and. To. Create, an environment where. People. Have. The. The. Ability to fail, and, to. Take risk and reason. For that is is that. Great. Stories. Great movie. Telling. Is, at. Its. Best when its original, and unique and. If you sort of think of it almost. As a mathematical. Equation. Original. And unique. Equals. Risky. Right. So no it's, not a proven formula, and risky. Equals. At least to some degree failure. So. If you don't allow some failure, in the equation, you're. Not gonna have people do things that are, risky. And unique and if you know I'm a better unique and original if you don't have unique and original everything. Becomes a derivative and, I. Think, uninspired, and you won't have success, so creating, a great environment. For people. To take, that appropriate. Amount. Of risk and to actually be able to, have. The. Ambition, to do things that sometimes aren't, going to work now. Very. Specifically, you know I. I. Don't maybe, it came from those years and I have a insane. Work, ethic. And and. Habit. And I. I. Get. Up very early in the morning I have, done, people may have heard I have multiple breakfast is multiple lunches multiple dinners and, how. About that. So. That's genetic, thank, my parents for that I sleep, five hours a night I thank my parents for that I don't get jetlag I thank my parents for that this is all in the gene pool I have nothing to do with it but just if you only sleep five hours a night which I have done since I was fifteen years old that, beetles actually wrote a song for me it's called eight days a week. That. Was for me anyway so, I got, an extra day and I. Might. I'm I invest, my time and, the, reason people you know nobody's, ever actually asked me so why do you have all these breakfast lunches and dinner I'm going to tell you including some of my partners who were sitting here in front of me I. Have. Found as a head of a studio. There's. A there's. A very, great. Distance, between you, and a. Talent. And artists, and. Again, there's a there's. A little bit of fear and you know as you grow, both in the job that you have but, so reputationally. And they create mythology. Around you and, you know coming to see me. Over the years it started to get to the point where it's like going to see Oz it, scares, you to death and, I, found that the way to like, take, that out of the equation, was. Across a table with a meal and that. Suddenly. The. Just the the the the, relaxed. Nature, of sitting. At a table, with somebody, coming, and bringing you, know food and eating, just, made. It gave, me an ability to connect with people way, way way better than, I could, across, a desk in an office or sitting you, know on the other side of a couch and so I just found that I'm way more productive mind so I would get up and I would have breakfast at 6 7 8 in the morning all, three of those by the way. And. So. You know in a studio, you. Know a typical, Monday morning, we would of. The first, thing we would do is have a weekend, read so. Probably. Maybe. The most important. Valuable, thing as an executive, that you have to do is read. And. I, think that all great. Movies. Start with a great idea. All great ideas must, have a great story and so. Reading. Is essential and. I. Will. Tell you just how demanding it was is a typical. Week for me. When. I was at Paramount is I would actually read 10, or 12 screenplays, a week and I'm. Not a super, fast reader, I am. Dyslexic. And, so I actually have to read a little slow and, so. It would take me almost you know it'd take me almost. Two hours to, read a screenplay. And I. Used to actually come, start, at 6 o'clock on Saturday mornings, and read till 5:00, 6 o'clock in the afternoon and. Then come back and probably do about half of that on us on a Sunday. For. Years I mean years and years and years I have read thousands, of screenplays literally. And. So. Then on Monday morning we all would come in and we would actually, talk, about what we read and what, were the good ideas, and who were the great writers and and. Then you'd move through the day and there would be things about, meeting with filmmakers, and hearing, what their take. On their story was why they wanted to do it and then, you, know kind of through the, process, of a movie of, everything.

From The you. Know. Assembling. The team of around. It the producers the directors the. The. Cast you, know pretty much every element of it where was it going to be done the budget the marketing, so, these are all elements, of, moviemaking. And, and. They're still you, know kind of relevant, today and it's probably, organized a little bit differently today but certainly back then that was what. A what a day was for me and you know we had had previews, of our movies we always. Found a great collaboration, with our audience, when we, have a movie that was a work in progress. Being, having, that moment where a filmmaker. Or a storyteller, could actually. Hear. An audience. In that sort of just natural, involuntary. Response. To a film and to see you know was it going too fast was it going too slow was it confusing, that's just you, know just sitting in the back of an audience it's not about sort, of testing, it's not about sort of filling out preview cards which I'm sure everybody has done that's tough kind of nonsense, but. Just sitting in an audience you can tell so, much about things, that are working and things that are not working. You've. Described, your work, ethic and. Giving. All Saturday, part, of Sunday making, work your life have. You seen that have a really strong impact on the teams around you how is that evolved, for you well, it's a fortunately, it's evolved because I started, off sort of I, guess a, Neanderthal. Because, I. Actually. Once said a number, of years ago if you don't come to work on Saturday, don't bother coming, on Sunday. Now. Now. Here's the problem with that when. I said it I meant, it. And. You. Know the, lessons, that you that, I learned I think anybody, learns is is that you learn. That. Working. Smarter. Sometimes, has. As much value as working harder, and, you also learn, that having. You, know what is sort of popularly. Referred. To, as sort, of work-life, balance. Is. Not just a. Nice. Theoretical, thought, I think it's actually true. And so. I can. Kid all I want about it but the fact is I have. A wonderful family I have you, know.

You, Know been. Married. For forty. Five years to, an amazing, amazing partner, have two kids three grandkids you. Know. Very. Proud of how my kids. Grew up and how they. Became, people. And found their own identity. And their own careers, and, and. That's you know that became as an important, part of it and so you. Know in my 20s that was probably fine is probably fine for all of you but there's a moment in time in which you actually have to find those things that make you whole as a human being and then make you better, at what you're doing and, so. Having, that. That. Element, as an important, part of your life is I think an invaluable asset, of doing a great job. That's. The boss respecting, that in your team. And the team around you and what you're building have to yeah. So. If we move, into the Disney years. Everyone. Has a favorite child. So. Do you have a favorite film from that time. There. Are different, movies. That have. You. Know different. So. First of all the, other genetic. Defect, I have in. Addition to those others that I gave you is is that. I I. Don't have, a a. Reminiscent. Gene. And. And, so, I tend not to look. Back and most. Of all when something's finished for me it's I turn the chapter and I go to the next thing and so I've, least. To date I've not yet found that moment to turn back and actually. Be reflective, in a. Way about it but. There are things and stories, that I have, told. Over, the years that. Had. A connection. To me because I had, something, to do, with the idea itself. And the, idea, was in some way a reflection of something going on for me I say. That and. I want to wave the flag of, saying I had. Some peace. In that because, I don't. Want to take credit from great. Writers great directors, great, filmmakers. Whose. Names are on these things it's just you. Know there was this Sam, Goldwyn who's one of the great producers, in early, Hollywood. Had. An expression, which I love. Which he said you know credit you give yourself isn't worth having and so. I I. Say. That as a caveat here, of, the. Story of the Lion King is a reflection, of something, that happened. To me in my life in my 20s, and I. Wanted. To tell that in a story not. The hamlet, part that I had nothing to do with. There's. A guy Willie shake, something or other he was that. But. The. The. Notion, that. For. Those of you who may have a minor memory, of this is is that Simba. Believes. That. He was responsible, for the death of his dad and, he, runs because. He. Does not feel, he. Can, confront. That truth, to. His mom and to. His family, and to his tribe and so. He goes away, and finds. Pumbaa. And Timon and Hakuna, Matata. And eventually. Nala. Shows, up. This. Childhood. Friend of his and. Reminds. Him of. What's. There and then between. Rafiki. Shaking. His magic, wand and Mufasa. From, up there you, must return. He. Goes back and faces. His truth and, I. Had a situation in, my life. In, my career in which that happened, to me not, in the familial, way which I felt would, be the way, in which we could all relate to it but, there was a set of circumstances in which, everything. Was on the line for me and it. Was a chance for me to cut and run and and, I knew ultimately someday I you. Cannot run from the truth the truth will find you and so. I made a very bold. And very hard, and very difficult, decision for me to come back and face the truth and by the way the outcome was great you, know for for, me in doing that and I just felt that was such a life learning lesson, for me that I wanted, to try and tell that in a story there's. Another movie I've made which. Probably. Many of you don't never know or maybe. Bark barely heard about, which. Was also. A reflection, of something from me which. Is about. How I feel, about. Life. I actually don't like the word no, maybe. Some of you do but, it. Doesn't work for me and pretty much any any, you, know I and.

So. There. Was a movie called spirit. Stallion, of the Cimarron and it's. A it, was the last. Hand-drawn. Animated, movie, that, I, made. As that sort of revolution. Of CG came along Shrek was the next one after it and. It, was a very, very, it. Was my homage. To. You. Know really. One. Of the great things that I I, think Walt, Disney. Did. Which, was it, it's to allow animation. To to. Be, it's. It's it's best and and to, let. The pictures. Do. All the storytelling, so the. Lead. Character, which is this indomitable. Character. Spirit. He. He. Doesn't talk. Right. So there's it. It relies on animation. To actually, tell itself and it's. A musical, and it, nobody sings other, than Bryan Adams who sings this sort, of you. Know kind of soundtrack, to it so it was a really. Incredibly. Ambitious very. Risky. Animated, movie that failed. But, but not for me and that story. Specifically. Of spirit. Which. Is he is a character that no matter what the circumstances. His. Optimism. And. His determination would, not allow him to fail and that's. That's. Me. I I'm, I'm I just you know I have you. Know just a. Bottomless. Well of, optimism. And, so. And then the third, one is I grew up across from the, New. York City Central Park Zoo and I, used to go there as a young kid 5 6 7 8 years old and it. Always, when I would see. The. Zoo through the you, know my eyes is that you know as. A kid I thought. Well they live on Fifth Avenue I'd. See they got fed steak every day they. Were groomed, and taken care, of and their cages will all be washed and cleaned every day and I thought god these animals, like they're they like they're living. The top of the mind, I thought well what would happen if they had to actually go back to Africa, and there. Is Madagascar. It. Sounds, like this. Incredibly. Personal, connection for you in making these films it's the one the, ones that really stick with you the animated, ones for sure but they're great movies, over the years that are just you know wonderful. Things where great filmmakers. Great storytellers. Great artists, you. Know had these amazing, stories. They wanted to tell and to kind of be on the sidelines cheerleading. Them helping them realize. Those, things was just very exciting but you know I I made. 406. Live-action. Movies when I say I made, they were made while I was, you. Know overseeing, these. Studios, over the years and 41, animated, movies and you. Know was a lot and man, there are just, a ton of dogs in there. You. Had an abrupt, departure from, Disney can. You talk to us about what that was like. Sure. So. In, the, summer of. 1994. The. Number. One movie in the world was the Lion King. The, number one. Album. Soundtrack. Or actually, record period, was, a, soundtrack. To Lion King sold, twenty seven twenty eight million hard. Copies, anybody want to think about that today with that with. That light but that's how extraordinary. That, is. The. Number one home video in the world was from Aladdin, the year, before. The. Number. One show. On Broadway was Beauty and the Beast number one TV show was a show, we produced called home improvement, the number one book on the New York Times best you get the idea. Like. In. A, moment in time and I don't know whether that's happened, again. Since, or not maybe it has, certainly. Possible for the Disney Company today we, had number one of every, single, place. That, we. Produced, for which is pretty much across the entire, spectrum of things. That are around, entertainment. And culture I got. Fired. And. And. It was, horribly. Ugly I mean it was a it was a you. Know I, had, had, been together. With. CEO. Of the company and Michael Eisner knives and partners together for. 18. And a half years and I, guess. The, analogy I would make except I'm fortunate, and I have not experienced, this but I have friends that have it's like a marriage that went perfectly to a point and then somehow or another just, got unaligned, and there's. A reason for this is is that Michael and I had this amazing marriage. Counselor, who. Is the president, of the company amazing. Guy, selfless. One of the most selfless people I've ever met his, name is Frank Wells and so there. Was Michael as the CEO the company and Frank, was the CEO oh and, I, was the CEO of the of the Walt Disney Studios, and Frank, for. All. Of these years 10 10 years, he. Was the guy that always kind. Of made things right between Michael, and I and that when we would sort, of get unaligned or at each other or I wasn't being sensitive, or not for not being inclusive or whatever those things are Frank, would come in my office sit, down and put his feet up on the table and go I think.

There's A better way of doing this and he managed, to do that and then quite tragically. In April, of 1994. He died in a helicopter crash. You. Know this is where you know my my partner, one of my partner has always said to me Jeffrey you know there's your plan and there's God's plan - your plan doesn't count and this. Is one of those moments where, suddenly. Everything. That worked nothing. Worked and, and. So Michael, and I got sideways. With one another, very, quickly and and and in, a way that became just. Amazing. Eruption. And. And. He fired me and, at. The moment in time in which I was doing my job as well as I'd ever done it before, and, and. At the time it, was incredibly. Public and incredibly. Ugly and very personal. And very nasty. And it resulted, in a lawsuit, and, you. Know just went on for a really long time and I would have to rank that as probably. My. Greatest. Regret. Professionally. Not that I got fired, it's, how, I got fired I may. Not make any sense to you but. The, I just, look back today and I'm there must have been a better way for me to go about separating and, and. And, I. If. I could have a do-over, at. Least I would try and do that and I don't know they would have a different. Outcome I don't, think it would but it would have had a better way to get to the outcome of it because it's the most humiliating embarrassing. Moment. Of my of, my, career, I felt just completely. You. Know the, mean to buy it and, and. You. Know just hurt, by it and it just it was it was hard, eight. Days later after getting fired I started DreamWorks with Gavin Stephenson so, I got over it in about seven and a half days. Yes. But. I just hear, so much love for the films, and the people involved at Disney and just. I really, appreciate that you shared all of that with us and but. You did you turned right around and took. An entrepreneurial, leap when you could have taken, an, operating. Role at any of the established studios with the track record I mean you just made number one and every. Measure so, why. Take the leap um. Well. Again. I you. Know the sort, of recurring, thing for me and literally. Going back to those days of, Lindsay. And Paramount, and Disney. And DreamWorks. And again. Here today now. I. Have. I have loved, the idea of, a blank, slate I know for most people you. Know, that's. A scary, it's. A scary thing particularly. You know most of these are almost. Almost like clockwork. You know these have been ten years in. My career, and so, they're long and they're deep roots and it's attached, to people and projects, and. Friends. And family and that I grew up with in each of these chapters but, I find.

That, For. For me whether it's the circumstances. Change the team broke up or I got, fired. Starting. Over has always been, fantastic. For, me and what has come in front of me has, always every. Single time no matter how great. The circumstances. So as great as. Paramount. Was for me or Disney, with me and they were fantastic times. And incredible, decades, there. And so, much to love and be proud of what came next was better and. So. When. Comcast. Showed up a year and a half ago I thought. I would, my, third act was gonna be doing you know another 10, years of DreamWorks. And making, number 407, and 42, and. And. At, first it was like well what. Do you mean you want my company you don't want me. Hurt. By that for a moment, and then I thought about it and honestly. One day I woke up the next morning and went no, no no wait, a minute this is a chance to be 25, years old again, with extraordinary. Extraordinary. Resources. And, contacts. And all these things and like I just honestly, I, never I had never imagined, there would be another. Get. To start all over again and the moment, that that idea. Just. Came into my my. Head I couldn't get out I couldn't get away and. It became more exciting, to me and so you. Know passing, the baton to, the. NBCUniversal. People on DreamWorks, seemed like, the most obvious, must. Do thing was better for my employees, because they would be part of this two hundred billion dollar company, I have more job security and more resources, and these, are people had been with me for a long time and I felt a great sense of obligation and, loyalty to them I could afford to take risks they might, not you know and. All. Of these characters, and movies, and IP, that we had, created to put them in the hands of people that you. Know could make, them live forever if they so, choose to there couldn't be a better place or a better organization to. To. Do, that, and. For, the shareholders, it was an extraordinary outcome, a stock was selling at $21 a share they bought it for forty one dollars a share and so I didn't. I I couldn't, put myself in. In the, way of all of those three outcomes which, were better for for, everybody and then once that idea of like okay you can start all over again I would touch, down let's go. Minute. So. You. Are, looking. Into the future with excitement in your new venture you. Are looking. For the team to pull around you and before. We were talking you described building, a team for. Our business as a casting, process so. How, are you casting, for your new venture right now well. Again. I you know one of the recurring things for me over the years is I've always had great mentors, as, I talked about Barry Diller but Michael, Iseman it was a great mentor again we were together for, you know 18 and 1/2 those years it was a phenomenal.

Partnership. And I, learned, so much from him. And so I've had a series, of amazing. Mentors, over, the years two, people who were mentors. That went on to do something different one Barry Diller and he started this company called IAC about, 25 years ago. And. The, other was john malone and liberty media and, and. I, saw in what. They did something that excited me because i am a builder. And I'm an operator, I'm not an investor. And. I believe, that the most valuable, thing is human capital. You. You, know to do to build businesses, to do things, obviously. You. Need the cash. To be able to do it but the most valuable, thing is human capital and so in starting wonder Co I wanted. To put together a. Partnership. Of. People. That if today. You were going to have. A business, either one that you were starting or one that you already had started, and you. Wanted. Exceptional. Resources. To help you take that to some you, know great new plateau that within wonder, code we actually had everything you would want in a C suite, you. Have a great, strategist. You have a great. Marketing, executive, you have a general counsel a CFO, a CEO. Oh a CEO, like everything. That you would want, in. A. Place, like that we. Got some of and so. To have that as sort of the resource because when I look at Barry Diller and John Malone that's. What they've done they have found companies. Around ideas and, around, entrepreneurs. And then. They have, put. A ton of, you. Know of people, capital, into those enterprises, and you know Diller started IAC 25, years ago his idea. Was the intersection, of the, Internet and to be able to create. Commercial. Consumer. Transactions. On it so everything from Expedia, to I'm sure no one in this room has ever actually done anything that has anything to do with So. You, know he's. Just any Barry's, probably built literally 70, 80 90 billion, dollars worth of market, cap I mean it's like a quiet story, not maybe, that will, told. But he's literally one of the greatest entrepreneurs of, our time and I think right now today, is exactly. Another one of those moments, and today that intersection, is. Technology. And the. Intersection, of, video. And the, application. Of video against, or, integrated. With technology. And how transformative. And imperative. That is going to be for. What I think is the next evolutionary. If not revolutionary. Part. Of of. Our world today and I'll, try, and maybe translate. That which, is if. You go back maybe I don't. Know 1214. Years ago. Everybody. Was. On a thing called an X tell most. People this remember too this is you could send a text to somebody on this little sort, of page or device somebody up here left it's probably over 40 and. And. Then we went from that to a to, a flip, phone and you. Had to actually hit three times to get an R I know this I'm speaking, you know Swahili. To you but trust, me and then. I'm now getting into territory, here we went to a blackberry, and then, from a blackberry to a smartphone and so in the course of about 12. 14 years. Everything. Or text the, application. Of text the, platform's around text so if you think about communication. Collaboration. Sharing. Search. Ecommerce. And even entertainment, in a, very, short handful, of years.

Text, Became ubiquitous. The, enterprises. Built, around text, became, worth hundreds. Of billions if not trillions of, dollars, and. All of us became, expert. At, it, so, like literally, the. Ability, of all of us in any of us and everyone of us to use. Text, against, those seven verticals, today is, honestly. As easy as putting one foot in front of another so, then, about five six years after that happened. The next thing that happened, in that sort of evolution, was, photography, and so. Today. Every. Single one, of us is like a junior, Andy, Leibovitz, like we can all take, great photos no, matter how inept. We are we, can't help but take great photos and, so. Now. Think about in these last four or five years the impact that, photography. Has had so we've moved and it's, not it's not displaced, text it's added on text why because. A picture is that that is better than a thousand, words you've. Heard that said before in it so now you. Think about communication, collaboration you, get it the. Application of, photography. Has, been transformed, and once again many hundreds, of billions of dollars of market. Values but whether it's you know Instagram, or Pinterest and we can go on and on okay so, we're now in the third cycle the. Sort of next third evolution is the application, of video, against. Each of those very. Specific verticals. And you're seeing what. Happens, when people come along and come. Up with the application. Of putting. These things to these two things together so two perfect, examples of it are snapchat, right, and. In the world of communication, and sharing if. You think about an entertainment. Best example, of its Netflix you. Know Netflix is people forget it was it they were you, again, I don't have anybody remembers you used to have a red, envelope with a DVD in it that's only seven years ago you. Know now it's it's it's streaming, and a hundred, billion dollar, market. Cap over, the intersection, of. Video. And. Technology, so for us today we, have, a team that we have built that we think bridges that world and. There's. A 12. Of us nine. Of which came our graduates, at Stanford, so thank you all very much. One, of us is not a graduate. Of Stanford he couldn't get in here so you went to Harvard Business School, instead, but. He teaches here which is sue JJ's what should stand up and wave hello there cuz hopefully some of you are being taught by him today come. On CJ show that t-shirt off. Stand. Up stand. Up. There. We go. And. So. We, we have a partnership, that I think is a great, marriage.

And Collaboration. Between Northern, California, and Southern California, which, right, now at this moment in time is highly, unique because we, are different cultures we actually speak different languages, but. Our, codependency. On one, another the integration. Of these two worlds is, is. Like literally these two trains that are on their way at one another and so for, wonder Co we, believe. We have the human capital to facilitate. That and to take advantage of it and to be entrepreneurial, around it an. Incredible, vision you seem, to have pretty boundless. Ambition for. What's to come and Meg Whitman is obviously gonna lend a huge amount of experience well. It's a perfect example I've, known Meg for thirty years she's truly, one of the most extraordinary, leaders. And. And. And just great great, people she was on my board at DreamWorks Animation, we met when I was at Disney we've. Started this new business which is right, now we as, our working title, is called new TV but, it's an incredibly. Incredibly exciting, ambitious, improbable. Likely. Impossible. Dream. That, she. And I now, are sharing. And you. Know and. It could only work, by. Putting our two worlds together, and she brings you. Know just a level of knowledge. And expertise, she's you know been at every whether it's what she did it eBay or you. Know, certainly. At HP she just has an incredible. Incredible, set, of skills. I don't and it. Is I I, believe it, is one of those things where one plus one is going to equal eleven. I. Want. To thank you for everything you've shared with us so far we're gonna pause. For Moto 'pn up to questions, love it. Alright. My, name is David I'm a second year here and I'm, inspired by your talk of the move or the movement, from the first a second to third wave of video, does. Wonder Co have any sort of ambitions, on saying what's after the third wave. Well. No cuz we got to get to the third. You. Know I think we're at the beginning at the beginning of the third wave, but I actually think that you know, when you could just you. Know you just imagine. What. The application. Is let me give you just one place, here. Which is you. Know ecommerce, so. Think about how much ecommerce, was changed from text, to photo right. That the ability that you could actually look, at. Commerce. On a on. Your phone and see. Displayed. For you you. Know every single version of a Nike sneakers you, could imagine right. Okay now move to video and video. Which is how the human, being actually functions, sight and sound is, really. The way in which we ingest data in the most effective most efficient, way and we can put emotions, around. Those things so, now think about how all those versions, of Nike, will look like in video so, it, it the and I say that because we're in mister Nikes. Home. Here. We. Can thank him for this, so. But. The application. Of video for. Commerce. Is going to be transformative, as much as we think we're you, know had a you. Know I would say we're in that sort of evolutionary, revolutionary. Moment, from retail, into, e-commerce. I, would, I would bet that we'll look at five seven years from now won't look anything like it'll, be it just go to a whole nother level by. The application, of video just that one now we go to the other verticals, and I think it'll be as impactful, I. Mario. Yeah. We can hear you I'm. An MBA one, and my, question, is what you learned from, your. Partnership. With Spielberg and Geffen. How you've applied that into building wonder, Co and how you'll build, your future teams, within the company um well, it was a it was Mena's. Amazing, of. A partnership, and. And. I think taught me about what what. The value of partnering. Can be when. Stephen, and Dave and I came together in 1994. If, you went to Las Vegas probably as many of you were going to tonight you could place a bet on how, long would the three of them be able to stay be in the same sandbox without, killing each other right. And the. Odds were you, know a, hundred. To one that it would blow up in a year or two. But. What, Stephen. And David and I found in each other is. Very. Specific. Expertise. And as partners, we. Actually could rely on one, another so quite obviously, in the world of storytelling. You. Know Steven Spielberg arguably. Is the greatest storyteller certainly, among greatest storytellers, of our of our time and so to. Defer, to him as. The. Sort of final arbiter, in that regard, seem, easy. And good to do and. Even for me who had had, you. Know amazing. Success. Before we. Came to that partnership. I always. Felt deferential, and even, on our animated, movies you know I would always bring, Stephen in I mean right up to the very end once a week he'd come over and you, know give me a warning and I would engage him, in every way in any way I didn't always agree with, him but I always wanted to hear.

What. He would have to say David. Geffen in the, media. Space. Probably. The most successful entrepreneur, of our time he literally made billions and billions and billions of dollars from you. Know being, you, know brilliant, in the music business brilliant, and Broadway successful. Movie, producers it's just the guy has taste and everything. He did worked. And. So, but, most of all a fantastic, entrepreneur. So, and I'm the Builder right. So we had a dreamer an, entrepreneur. And a builder and those, three things were, just incredible. And and and supportive. Of one another and, so, finding. That and being able to respect. That in one another I thought, it was a bargain because in, 1994. As I, said I had just been fired. Steven. Spielberg, had won the Academy, Award in the spring of 1994. For Schindler's List and in June of 1994. He, put out the first Jurassic, Park so, in our world he had won both the Academy Award in the Bank of America Award, something rarely somebody, does those two at the same. David. Geffen had actually, just, recently sold. His. Music. Company for the third or fourth time for, another billion, dollars to. Universal. And. When. I got fired I went. Back to my office I. Left eisenerz office, and when. I walked. Back to my I did not know this at the time this is to give you idea how kind of nasty you got so I'm in this his office he just well I don't think this is gonna work any longer, stating. What would it at that point was truly the obvious what. I didn't know is while I was in his office he put a press release out saying that he had fired me right so, I. Get, back to my office and Lucia I walk into my office and my. Assistant, says to me Steven. Spielberg, and Bob, Zemeckis are on the phone and they would not hang up they've insisted. On holding on until. You come back there and Jamaica together, so with, the three of us had made a movie called Roger Rabbit, together, and actually had kind of a great bond, and you know relationship, came out of out of that movie and so. I get on the phone and then, laugh and they go oh my god this is fantastic it's. Just great and it's it's funny and there I'm going really. Explain. To me how I'm what I'm missing here because I'm not feeling any of this guys and. Bob. Zemeckis, I have they will give him the credit for, it Bob, Zemeckis says you, know what Jeffrey you. Should just start your own studio. And. I will hung up the phone I went hmm. No, that's a good idea. Literally. That was the moment. So. We're, almost out of time to. Close I would ask you to dig. The reminiscence, gene just one, more chorus onstage. At. The, end, the day of the September, 11th attacks the, entire country, is, paralyzed. In shock and mourning and. You. Spring, into action you activate, that sense of personal responsibility and, you put yourself at the center can. You describe, that moment for us and your, leadership yeah, it. You. Know it it, was a moment, for. Everybody. You know in this country if not around the. Globe in which you you. Know that you you, know I think every single person. Was. Not. Only feeling, fear, but. Also helplessness. And, most. Of all, what. Can I do and. I. Thought. About that I felt, like I have to do something, I'm. Not a fireman, I'm. Not a policeman, I'm, not a soldier. I'm. An entertainer most, of all above all what. I've tried to do my whole life is, actually bring laughter to people that's been my mission and if. You think about the movies and you, know the most joyful rewarding, thing for me is to stand in the back of a theater and, hear. An audience and laughter, that's my joy and. It's literally the most beautiful, thing in the world to me is to hear laughter and particularly the laughter of children. And, I thought okay, you know, we, it. Would be great if we could have a shared, healing. Moment and and. We. My. Community, of entertainers. Actually. Could. Do something, and so, I had. This idea of doing, a. Telethon. That, would. Be a tribute to. America. And the strength, of our country and. Was. Able to do the, thing I am I was able to do which is to get everybody and anybody on the telephone, and talk them into doing something that they never would ever think of doing or what I would say think of doing something they would not likely do and so, for the first time actually in history. Every. Single television, station every cable station, every, radio, every, everything for, that two, hours. Stopped. While, the. Greatest. And the best and you, know entertainers. Singers, actors. Spoke, from the heart, and. And, and, I I. Just for, me when I think of all of the wonderful things that I have been able to do and had in my career, honestly. Nothing. Even, comes remotely, close to that moment. And that time in which, I felt you, know it was it was the ultimate unifying. Shared. Moment. And just for a second.

I Felt. Maybe there. Was at, this tragic, tragic time happiness. Thank. You so much for the gifts that you've given us over an incredible, career and today, in this auditorium we, are so blessed.

2018-02-03 18:48

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