← Back to list
Colossus (Invest Like the Best / Business Breakdowns)Podcast29 Nov 2022Source: joincolossus.comHost: Patrick O'Shaughnessy

Ron Howard and Brian Grazer - Box Office Business - [Invest Like the Best, EP.305]

In plain words

This is about Hollywood duo Ron Howard and Brian Grazer, who've partnered for 37 years to make hits like Apollo 13. They don't predict trends—Grazer instead has weekly chats with scientists and doctors to fuel ideas. Key holdings: Imagine Entertainment (their studio, with 49 Emmys), Splash (a low-budget hit that built their trust), and Apollo 13 (a survival story that creates suspense even though everyone knows the ending).

AI SummaryAI-generated · may contain errors · verify against the original

This episode invites legendary Hollywood director Ron Howard and producer Brian Grazer to discuss how their decades-long collaboration built trust, maintained creativity, and built Imagine Entertainment — a company that has collectively won 49 Emmy Awards, 11 Golden Globe Awards, and 10 Academy Awar

~13 min full read · 8 sections
Deep Analysis

This Issue at a Glance

Ron Howard and Brian Grazer are the co-founders of Imagine Entertainment, a studio that has collectively won 49 Emmy Awards, 11 Golden Globes, and 10 Academy Awards. This issue explores how their 37-year partnership built trust, maintained creative vitality, and systematized curiosity into a business process. Key judgment: Brian Grazer believes that "you should never predict what the market wants" — if you start predicting how an art form will connect with audiences, you have already missed the point.


Trust: Accumulated from "Scam" to "Crucible Moments"

Ron Howard believes that trust is not built by a single grand declaration, but rather accumulated through a series of "crucible moments."

The two began their collaboration in the early 1980s. Howard was already famous for Happy Days, while Grazer approached him with two projects: Night Shift (about two men running a call-girl ring out of a New York City morgue) and Splash (a mermaid love story). Howard shot Night Shift first. After its success, he had many options, but he still kept his promise and directed Splash.

Key Trust Test One: Howard's "fake punch" test. They were in a small office at Warner Bros., with no secretary, just one chair and a phone. Grazer heard that John Belushi and Dan Aykroyd were doing reshoots on set, and told Howard to take the script to them. Howard went, stayed a long time, and when he came back, Grazer eagerly asked, "How did it go?" Howard said, "I had to hit him." He described a fictional conflict—Belushi knocked over coffee, and he was forced to throw a punch. Grazer's reaction was not "How did you screw this up?" but rather he slumped to the floor and said, "I'm sorry I put you in that situation." Howard realized that Grazer's first thought was about his feelings, not the project's loss.

Key Trust Test Two: Grazer's protection at Disney. Splash eventually landed at Disney, but at the time, Disney's biggest hit was Gus, the Field Goal Kicking Mule (a mule that kicks field goals). Howard worried that Disney would "sanitize" the film. Disney's board insisted the mermaid wear a swimsuit top. Grazer went directly to meet board chairman Card Walker, promising to cover her chest with hair and use a flesh-colored bodysuit, all to protect Howard's director position. Despite pressure from many other project offers, Howard still directed the film.

Key Trust Test Three: Grazer threatened by the most powerful producer in the industry. At the time, Hollywood's most powerful producer, Ray Stark, was also developing a mermaid film, with a script by Robert Towne (screenwriter of Chinatown) and directed by Robert Ross. Stark called to threaten Grazer: "You'll have no future in Hollywood." Grazer simply refused to take any follow-up calls, avoiding a "psychological conflict." In the end, Splash premiered first and was a huge success.

Key Trust Test Four: The exclusion invitation incident. After Splash's success, the newly appointed studio chairman invited only Howard to the Deauville Film Festival, not Grazer. Howard said, "If he's not inviting you, then I'm not going either." Grazer was deeply moved.

> "These early crucible moments were the foundation for everything that came later. Don't try to skip the early stages." — Ron Howard


Curiosity: The Essential Prerequisite for Innovation

Brian Grazer argues that "curiosity precedes innovation"—he has been conducting a "curiosity conversation" every week for 35 years, with any expert outside the media field.

Grazer's rule: once a week, find someone outside the industry—science, medicine, art, religion, technology—and talk about anything, but never discuss media-related topics. He estimates he has met at least 100 Nobel laureates. He writes a letter or email to each potential subject, clearly stating "no request at all"—they can stay for just a few minutes or for several hours.

Key examples: Science fiction writer Isaac Asimov stayed only a few minutes and left; Jonas Salk (inventor of the polio vaccine) took two and a half years to agree to meet; Edward Teller (father of the hydrogen bomb) met during the Splash period and even publicly insulted the value of storytelling; Fidel Castro had lunch with him for 6.5 hours, breaking down the physical parameters of every electrical system on the island of Cuba ("He knew what a kilowatt-hour meant in a household").

Howard added the "why" behind Grazer's approach: Grazer has dyslexia and does not learn a subject by reading books, but by connecting with people. He not only learns the subject matter itself, but also the other person's "way of life"—how they think, how they make decisions. "We are tasting the industry. I need to make split-second judgments based on solid, well-informed taste." The knowledge accumulated from these conversations is instantly put to use when casting, selecting scripts, and choosing projects.

Grazer's differentiation strategy: To this day, he makes all the outbound calls himself, without delegating to an assistant. He wants to "get a head start when the ball is tipped" and to make the assistant who receives the call feel "interesting, warm, and different." "Everyone wants Tom Hanks in their movie. You have to be the most interesting person."


Creative Principles: Avoid Trends, Seek "Universality"

Howard and Grazer identify three core creative principles that form Imagine's creative screening system.

Principle One: Stay away from trends. "If you see too many people doing the same thing, immediately look in the other direction." (Grazer) They do not forecast the market, nor do they attempt to create new trends.

Principle Two: Seek "universality." Every project must have a theme that goes beyond the surface. For example:

  • 《Parenthood》: On the surface, a family comedy; the theme is "the universality of family."
  • 《Apollo 13》: On the surface, a space mission; the theme is "survival"—everyone understands survival.
  • 《American Gangster》: On the surface, a gangster film; the theme is "how a person defines himself."

Principle Three: Create likable characters—even if they are villains. Howard tells a lesson: He made a film he thought was great, showed a rough cut to a friend, and the friend asked: "Who do you like?" He realized the protagonist had no likable qualities. "You have to like something about your protagonist—even if it's just a generous gesture." Even Jack Bauer (from 24) or Denzel Washington's character in American Gangster has some "expression of the human spirit" or "need for self-definition."

Howard adds the mechanism of "suspense": When the audience knows the outcome (e.g., historical events), how do you create suspense? Two methods: 1) Extremely granular process—show "what this person is good at" and "what this person doesn't know how to do but tries to do"; 2) Dig into the cost of "psychological trauma"—"What psychological scars will this person carry after going through this ordeal?"


Failure and Adaptability: Overcoming "Catastrophic Expectations"

Grazer admits that he long believed a film's failure meant "the end of his career" — until he experienced his first failure and realized it wasn't.

> "I realized you can survive a movie failing. I thought I was going to die. But as long as you maintain the same intensity, curiosity, energy, and resilience, you can climb the next mountain." —— Brian Grazer

Howard came from a different background: he grew up with The Andy Griffith Show and Happy Days, both of which never received good reviews but lasted for years. "I was more confident that as long as you keep going, you can get through it."

The two partners' view on the corporate model: They once took Imagine public, only to find the model didn't work — "money was draining away." They chose to trust themselves, assume financial risk, and found Universal as a long-term partner. Later, they again realized that being a public company was unsuitable, and took the risk to take it private. "The company gets rediscovered almost every six months. The business changes, the partners change, but the fundamental driver is the same — the impulse to solve problems."


How to Go from Zero to One: Every Project Is a "Mini Startup"

Howard says every project must start from a "blank slate" — curiosity drives you to fill in the blank.

Specific approach: paste all research materials on the walls of the production office, on the walls near the kitchen and bathroom, and loop documentary footage (muted) on the monitors. "Slowly, everyone is being subconsciously influenced by the details. This sparks conversations and pulls the team in the same direction."

Grazer adds that they are now working with brands because "brand narratives themselves are an interesting starting point," and documentary subjects (such as Louis Armstrong, Lucille Ball, Jim Henson, and Jose Andres' World Central Kitchen) are inspiring scripted projects. "Everything inspires each other."


Targets Mentioned

Target Guest Attitude Key Data
Imagine Entertainment Bullish 37-year history, 49 Emmy Awards, 11 Golden Globe Awards, 10 Academy Awards; was listed and then delisted
《Splash》 Retrospectively Positive Low production cost, no stars, ultimately "long lines around the block"; Disney's first PG film
《Night Shift》 Retrospectively Positive Not a major financial success, but made Howard a "hot" director
《Apollo 13》 Case Reference Used "survival" as a theme to create suspense, even though the audience already knew the outcome
《24》 Case Reference Jack Bauer character is "controversial but relatable"
《American Gangster》 Case Reference Character is "morally debatable, but with a human spirit"
《Arrested Development》 Case Reference 22-minute comedy format
《Parenthood》 Case Reference Theme: family universality
《The Grinch》 Case Reference Built empathy from the villain's perspective
《Liar Liar》《Nutty Professor》 Case Reference Finding emotional connection in absurd comedy
《Ransom》 Case Reference Lessons in tragedy
《13 Lives》 Case Reference Released in 2022, based on a true story
《Candy Cane Lane》 In Production Collaboration with Eddie Murphy
Louis Armstrong Documentary Released Produced by Imagine's documentary unit
ILM Documentary Reference 6 hours
Jose Andres and World Central Kitchen Documentary Reference Portrait included in the National Gallery
Ray Stark's Mermaid Project Not Produced Beaten to the punch by Imagine's 《Splash》

Judgments Worth Remembering

1. Curiosity is "preventive maintenance for taste"—Grazer believes that people in the taste industry need instant judgments, and the quality of those judgments comes from cross-disciplinary curiosity-driven conversations. 35 years, once a week, outside the media field, at least 100 Nobel laureates—this is systematic "taste input."

2. The "fixed-fight test" of trust—Howard used a fictional conflict to test Grazer's first reaction and found that Grazer cared about his feelings rather than the project loss. This is a moment when trust is "reverse-validated," far more valuable than a promise made in favorable circumstances.

3. Don't predict the market—Grazer's maxim: "If you start predicting how an art form will connect with an audience, you've already missed the point." They "stay away from trends" and only ask, "Does this thing touch my soul?"

4. The "universality" principle is the filter for Imagine's projects—The theme of Parenthood is family, the theme of Apollo 13 is survival, the theme of American Gangster is "self-definition." Every project must pass this test: Is the theme understandable to all human beings?

5. Failure in the film industry is not the end—Grazer originally thought a film's failure meant "the end of a career," but after experiencing it, he realized, "You just need to maintain intensity, curiosity, vitality, and resilience." This is the core lesson of "antifragility" in creative businesses.

6. The mechanics of suspense: When the audience knows the ending, suspense comes from "process details" and "the cost of psychological trauma." Howard says: "You never know what psychological scars that person will walk out with."—This can be analogized to investing: knowing a company's endgame does not mean knowing the psychological cost along the journey.

7. You have to like your protagonist—Howard says: "I made a film I thought was great, and a friend asked, 'Who do you like?' I realized it was doomed." In business storytelling, if a brand/company does not have a trait that makes people "like" it, the story fails; brand narrative requires "connectability" + "new information."

8. Companies should "rediscover themselves" every six months—Howard says Imagine's business changes every six months, but the core driving force remains the same. This is another definition of an "evergreen company": not unchanging, but with a core that stays the same while the periphery is always changing.