Tech Bubble Watch

Oh Sweet Lord, CAA Wants to Set up Shop in Silicon Valley

jeremy piven talks final season of entourage Oh Sweet Lord, CAA Wants to Set up Shop in Silicon Valley

Gonna need a better cellie if you want to sign Thiel.

All those other warning signs of that the tech bubble cometh? Forget them. Because this is it:  Creative Artists Agency, the same talent-representing behemoth behind stars like Brad Pitt and Oprah, is contemplating moving to the Valley.

Hollywood tried the same thing back in the nineties, but got scared off when the bubble went bust. But it looks like they think this bubble has legs.

According to Reuters, who broke the news, the plans are under consideration and will “proceed slowly,” but the agency already has some bold-faced, internet-famous celebrities on the roster for its Speakers Division, such as Twitter co-founder Biz Stone and former Facebook exec Randi Zuckerberg, sister of what’s-his-face. You remember him? From that movie that one time?

Reuters really brings the point home with this money quote:

“The plans under consideration by CAA underscore the idea that software developers and computer engineers are the new creative community, and tech executives — not media moguls — are the rock stars of the business world.”

Aww, isn’t it pretty to think so.

So, what will a bunch of Hollywood wheeler and dealers be doing so far from L.A.?  Says Reuters: “CAA’s business in Silicon Valley is divided into three buckets: advising tech companies about Hollywood, partnering with venture capital firms to incubate start-ups, and matching clients who have digital media ideas with companies that can help bring them to fruition.”

Yes, incubating. You read that right. For a little history lesson from the not-too-distant past, the last time Hollywood tried an incubator it was a joint venture between William Morris Endeavor, Accel Partners and AT&T known as a the Mail Room Fund that only spent about $5 million (of its $30 to $50 million under management) before shutting down in April. As former Venrock Ventures partner David Siminoff explained to Reuters, culture clashes between the Valley and Hollywood often making working together difficult.

Although that sounds like the makings of a great (read: horribly awkward and potentially violent) reality TV show, how about recruiting New York’s budding tech stars, huh? We know how to deal with your kind out here.

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