#325 Larry Gagosian (Billionaire Art Dealer)

Founders

David Senra

History, Entrepreneurship, Business, Technology

4.8 • 2.4K Ratings

🗓️ 29 October 2023

⏱️ 72 minutes

🔗️ Recording | iTunes | RSS

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Summary

What I learned from reading How Larry Gagosian Reshaped The Art World by Patrick Radden Keefe. ---- Get access to the World’s Most Valuable Notebook for Founders by investing in a subscription to Founders Notes ---- (4:00) The dealer has been so successful selling art to masters of the universe that he has become one of them. (5:45) We think of genius as being complicated, but geniuses have the fewest moving parts. Gagosian is simple. He's basically a shark, a feeding machine. (6:00) A novice is easily spotted because they do too much. Too many ingredients, too many movements. Too much explanation. A master uses the fewest motions required to fulfill their intention. (10:00) His own publicist described him as “A Real Killer” (12:00) The Invisible Billionaire: Daniel Ludwig by Jerry Shields. (Founders #292) (17:30) There is always a blueprint. Joseph Duveen was the art dealer to the Robber Barons. Biographies of Duveen: Duveen: A Life in Art Secrets Of An Art Dealer Duveen The Artful Partners: The Secret Association of Bernard Berenson and Joseph Duveen (18:00) Numerous friends of Gagosian caution me not to mistake this merry-go-round of parties and galas and super yacht cruises for a life of leisure. This guy is always working. This motherfucker works 24/7. The parties are marketing showcases in disguise. (19:00) The Taste of Luxury: Bernard Arnault and the Moet-Hennessy Louis Vuitton Story by Nadege Forestier and Nazanine Ravai. (Founders #296) (19:30) The best way to raise the price of something is to say that you would never sell it. (23:00) If Gagosian possesses one secret weapon that has equipped him for success it might be his disinhibition. (33:00) The niche Gagosian pursued was seen —at the time —as low status. The secondary business was perceived as a backwater by dealers. It was considered a bit distasteful. (42:00) He disdains formal meetings. He finds bureaucracy and protocol dull. There is no hierarchy. There is Larry and then everyone else. (44:00) Gagosian reaps huge profits from asymmetries of information. (51:00) Art is just money on the walls. (54:00) David Geffen is still as liquid as the day is long. (56:00) The competitive drive of self-made billionaires does not go into remission once they’ve made their fortune. ---- Get access to the World’s Most Valuable Notebook for Founders by investing in a subscription to Founders Notes ---- “I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested, so my poor wallet suffers.” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast ---- Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here. ---- “I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth Be like Gareth. Buy a book: All the books featured on Founders Podcast

Transcript

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0:00.0	All the way back in 2019 I received a message that changed the direction of this podcast forever.
0:04.8	It was from Tristan who is one of the co-founders of Reed Wise.
0:08.2	He said, hey, I love the podcast and he told me about the Reed Wise product.
0:12.4	I responded, thanks Tristan, love the idea behind Reed Wise. and he told me about the Reed-Wise product.
0:12.5	I responded, thanks Tristan, love the idea behind Reed-Wise,
0:15.2	I will definitely check it out.
0:16.3	I had no idea that I would become a super user of his product.
0:20.8	And so over the years, I've added my highlights and notes for over 300
0:23.7	books I have over 20,000 highlights and notes for the books that I read for the
0:28.3	podcast and because I can search every single thing I've ever done I use ReedWise every day. I never
0:36.1	close the browser tab. The tab on ReedWise is always open because as I'm
0:40.5	reading, as I'm thinking, as I'm researching researching I'm constantly going in
0:44.7	and re-reading all my notes and highlights.
0:47.3	And you might already know this because every other podcast I go on I talk about
0:49.5	Reedwise, I treat about it, I post about it
0:51.6	constantly, I've been saying for years it is the best
0:53.9	app that I pay for. And because I go around shouting about how great it is from the mountaintops,
0:58.8	I get a bunch of messages. Nearly every day people have asked me, hey is there a possibility that I can actually get access to your readwise?
1:05.6	And this happened so much for so long. And I thought it was like a superpower of mine.
1:09.3	So I was like, no, no, no, no. And then I started thinking, it was like, well, why is everybody
1:12.3	want this? Like like why do they keep
1:13.7	asking for this and I thought about it's like well if you think about this is like has anybody else in the world
	...

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