#325 Larry Gagosian (Billionaire Art Dealer)

About this episode

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