Too often, Hollywood prefers a retread to a risk-taker



What do you think is true that no one else thinks is true?

This is the question at the heart of Peter Thiel’s new book, Zero to One. Mr Thiel is an entrepreneur and an investor – he was one of the founders of PayPal, an early investor in Facebook, runs a venture capital fund, a hedge fund and still has a hand in the management of Palantir, an enormous data-mining company. He’s rich, smart and accomplished.

In other words, he’s about the closest thing we have to a true-life James Bond-style villain these days, except for the villain part.

The book is terrific – chock-full of insights into business and entrepreneurship, philosophical and far-ranging, often witty and breezy to read – but like all books of this kind, it has a central theme, embodied in the question Mr Thiel asks all of his prospective hires about what they might believe to be true that no one else does.

It’s a difficult question, apparently, because most jobseekers deliver an uninteresting answer safely in the I’m-just-an-order-taker zone, things blandly anodyne or simplistically iconoclastic. Those are the interviews he cuts short. Anyone can pose as a contrarian thinker – all you have to do is say the opposite of the current wisdom.

The few who say something that’s original, different, interesting, brave and possibly true – those are the young people he wants to hire to help him make investing decisions and manage his billions.

I thought of his question recently when I was talking to a couple of writers about a script we’re developing together.

What I like so much about the project is that it’s close to their hearts – it’s rooted in the family legends they’ve heard for years, it’s got crime and family drama and a hugely interesting central character you’ve never seen before. And it’s true.

“You know what I love about this story?” I asked them. “I love that there’s nothing like it on television. It’s totally original.”

We all nodded enthusiastically. When you’re developing a project and really getting into it, there’s lots of enthusiastic nodding.

“It’s like, a female Breaking Bad with a little Sopranos thrown in,” I said. Immediately, their faces dropped. How original and fresh could it be, they asked, if it’s so easily summarised?

Which was a good question. And the truth is, I failed the Peter Thiel interview test by reducing a truly original story into what I (probably mistakenly) thought was a more sellable mix of familiar past hits. I was already sanding off the interesting edges of the story, pre-softening the character and the world for the eventual meetings with the buyers – studio and network executives, sitting across a conference room table, poker faces firmly in place – by telling them that this wasn’t something new. Don’t worry about this one! I was saying, essentially. This is just a version of what you already know works. Nothing original here, I promise.

I was planning to tell them something that I thought was true that they also thought was true. Which may be a good way to sell a script, but a script is only the first step in a long road to the real goal, which is a big fat hit television show. Real hits, when they come, usually come as a surprise.

If you ask the producers of the biggest movie of the summer, Guardians of the Galaxy, what they thought was true that no one else did, they’d probably say something like: “We thought a fun, half-serious superhero movie with no stars in it would be a gigantic hit as long as the tone and the spirit of the movie was spot on.”

If you ask the writers and producers in Hollywood, sitting in lobby waiting areas in studio and television network offices, what they think is true that no one else thinks is true, the answer – one hopes – will be something similar: that the show or movie they’re about to pitch to a glum-faced and expressionless executive is just the thing the audience wants, despite its newness or unique tone, or revolutionary spin.

Entertainment industry executives, of course, spend most of their time listening to pitches and thinking to themselves, “What’s this similar to?” Which is another way of saying: “If I buy this and it doesn’t work, what will I tell my bosses so that they don’t fire me?” So it’s only natural that the creative types waiting nervously for the big pitch meeting might start coming up with ways to sell their project in the safest way possible. Safe sells, of course – we all see how many sequels and “reboots” and cookie-cutter romantic comedies get produced every year. But if what you’re looking for is that surprising and original idea that produces a hundred-fold return – what Mr Thiel looks for in a prospective investment, like Facebook, or a potential young employee, or for that matter what a seen-it-all and easily distracted audience looks for in a movie or television show – then it’s probably smarter to keep looking for that thing that you believe that no one else believes.

And hope that you can convince at least someone in an office, across a conference room table, to take a chance.

Rob Long is a writer and producer in Hollywood. His two books, Conversations with My Agent and Set Up, Joke, Set Up, Joke were published in July as one volume by Bloomsbury

On Twitter: @rcbl

Auron Mein Kahan Dum Tha

Starring: Ajay Devgn, Tabu, Shantanu Maheshwari, Jimmy Shergill, Saiee Manjrekar

Director: Neeraj Pandey

Rating: 2.5/5

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COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
COMPANY PROFILE

Company: Bidzi

● Started: 2024

● Founders: Akshay Dosaj and Asif Rashid

● Based: Dubai, UAE

● Industry: M&A

● Funding size: Bootstrapped

● No of employees: Nine

A State of Passion

Directors: Carol Mansour and Muna Khalidi

Stars: Dr Ghassan Abu-Sittah

Rating: 4/5

Formula Middle East Calendar (Formula Regional and Formula 4)
Round 1: January 17-19, Yas Marina Circuit – Abu Dhabi
 
Round 2: January 22-23, Yas Marina Circuit – Abu Dhabi
 
Round 3: February 7-9, Dubai Autodrome – Dubai
 
Round 4: February 14-16, Yas Marina Circuit – Abu Dhabi
 
Round 5: February 25-27, Jeddah Corniche Circuit – Saudi Arabia
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Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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Tips for job-seekers
  • Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
  • Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.

David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East

Meydan racecard:

6.30pm: Handicap | US$135,000 (Dirt) | 1,400 metres

7.05pm: Handicap | $135,000 (Turf) | 1,200m

7.40pm: Dubai Millennium Stakes | Group 3 | $200,000 (T) | 2,000m

8.15pm: UAE Oaks | Group 3 | $250,000 (D) | 1,900m

8.50pm: Zabeel Mile | Group 2 | $250,000 (T) | 1,600m

9.20pm: Handicap | $135,000 (T) | 1,600m

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

The specs

Engine: 2.0-litre 4-cylturbo

Transmission: seven-speed DSG automatic

Power: 242bhp

Torque: 370Nm

Price: Dh136,814

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The specs: 2017 Dodge Ram 1500 Laramie Longhorn

Price, base / as tested: Dhxxx
Engine: 5.7L V8
Transmission: Eight-speed automatic
Power: 395hp @ 5,600rpm
Torque: 556Nm @ 3,950rpm
Fuel economy, combined: 12.7L / 100km

Engine: 80 kWh four-wheel-drive

Transmission: eight-speed automatic

Power: 402bhp

Torque: 760Nm

Price: From Dh280,000

Padmaavat

Director: Sanjay Leela Bhansali

Starring: Ranveer Singh, Deepika Padukone, Shahid Kapoor, Jim Sarbh

3.5/5