Richard toyed with his coffee, his eyes fixed on the man across from him. His face was etched with a deep frown, his coffee untouched, and dark circles under his eyes hinted at a sleepless night. "So, George, have you given any thought to my proposal?" Richard asked, breaking the silence.
George lifts his gaze from his untouched coffee cup. With a wary chuckle, he says, "You were serious weren't you?"
Richard put on his signature sweet smile. Seeing that George shakes his head and says, "Well, I have, Richy. I have."
"Look," he continues rubbing his forehead, "I don't think I am ready to take any angel investment or capital injection. Sorry"
Richard's eyes sparkled with amusement as he made a playful offer. "Hey, not even for 2%, I'll give you a ton of cash for it, and I'll even throw in an annual cash injection without upping the stock percentage - just a little cherry on top. How's that for a deal?" he asked with a grin.
George, however, remained unimpressed. He shook his head, his expression unwavering. Despite knowing Richard was joking, he was determined to stick to his decision.
Richard's smile faltered, and he let out a dramatic sigh. "Fine, I respect your decision, George," he said, slipping back into his chair and taking a grumpy sip of his coffee. But the hint of mischief is still clearly seen in his eyes.
A soft chuckle escaped George's lips, a rare smile tugging at the corners of his mouth for the first time after all the drama in his life. "Kid, I don't know how you act like an old man sometimes." His voice held a note of affection, a touch of camaraderie.
Richard shrugged nonchalantly, a carefree air about him. "I don't know. Maybe I learned from you guys.
George grunted in mock skepticism, a twinkle of amusement in his eyes. He has met him enough to know a ruse if he sees one.
"How are you going to manage it? If you don't mind me asking," Richard inquired, his curiosity piqued by George's unwavering determination.
George shrugged casually, a sense of contemplation coloring his features. "I think I can manage by selling off some of the less important sections of ILM," he replied, his voice tinged with a hint of resolve.
"Speaking of selling. How about the other proposal I mentioned." Richard asks.
"The computer graphics department one?" George sought confirmation.
Richard nodded affirmatively, his eyes gleaming with anticipation.
George paused, his gaze shifting to the window as he pondered the offer. "I can do that, but how much do you want?" he finally asked, turning his attention back to Richard.
With a sly smile, Richard leaned forward, resting his chin on his hands. "Well, my dear uncle George. How much are you willing to sell it for?"
The man Richard is with is none other than George Lucas. The department they are discussing would one day become the legendary animation studio, Pixar.
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Pixar is a renowned animation studio that was once owned by Steve Jobs, who acquired it from George Lucas as the computer graphics unit of Industrial Light & Magic (ILM).
Under the leadership of co-founders Edwin Catmull, Alexander Schure, and Alvy Ray Smith, Pixar evolved from a computer graphics department to a pioneering force in 3D animation, creating a multi-billion dollar franchise with beloved films like the Toy Story series, Finding Nemo, and Up, from the mid-1990s onwards.
The studio's immense value was evident when Disney acquired it for $7.5 billion, yielding a massive profit for Jobs, who had purchased it from Lucas for a mere $10 million in 1986.
Richard met George Lucas at the party for "The Sixth Sense" hosted by Universal. By this point, Richard and Lucas had already become well-acquainted, having met on several occasions. Their shared connections to Steven Spielberg and Francis Coppola had helped to establish a rapport between them.
The conversation began after Coppola's enthusiastic outburst, in which he tightly hugged Richard and slurred his words, expressing his gratitude for the opportunity to work with him and crediting Richard with helping him turn his career around.
As they delved into the exciting developments in computer graphics effects, Richard's memory was sparked, and he recalled that Pixar had originated as the computer graphics division of Industrial Light & Magic (ILM). It was rebranded as such after it was acquired by none other than Steve Jobs.
Richard steered the conversation towards Industrial Light & Magic's CGI division. During that moment, Lucas expressed his frustration with the financial struggles of Industrial Light & Magic (ILM), particularly its computer-generated imagery (CGI) division, which had become increasingly difficult to manage following his divorce the previous year.
Richard responded by suggesting a potential solution: he proposed either investing in Lucasfilm or acquiring a stake in ILM, to provide an annual influx of capital to help alleviate Lucas' financial burden. He even offered to purchase the CGI unit outright for a fair price.
Lucas hearing the propostion asked for some time to think about it.
Back in the present.
“I’m willing to sell the CGI unit for 15 million,” Lucas stated, his voice steady as he meticulously kept his expression neutral.
Richard was quick to respond, his tone incredulous, "Come on, Lucas, don't rip off a kid. How about 5 million?" He leaned back in his chair, a slight smirk playing on his lips.
Lucas narrowed his eyes, his jaw set, "Richard if you want to buy it, show some sincerity. I won't go less than 10 million." His words were final, leaving no room for negotiation.
Richard leaned forward, a contemplative expression on his face. "Lucas, we've discussed this before. You know how much this thing burns money." He paused, then proposed, "Here's an alternative: Buy out the price of $6 million for the CGI unit and a movie with custom-made special effects, tailored specifically for you to direct. I'm willing to not only invest in the project but also take on an acting role. You know how eager production companies are to back my projects."
A moment of consideration passed between them before Lucas countered with a revised offer. "Increase it by two million, and I'll be happy to move forward with the deal."
Richard’s face lit up, his relief palpable as he exclaimed, "It's great! Happy cooperation!"
Eight million was more than perfect for Richard. He was prepared to fork out 10 million for the opportunity presented to him. But saving two million in the process was an added bonus that he couldn't resist.
Lucas echoed, "Happy cooperation," and raised his glass to clink against Richard's.
Later that day, Lucas and Richard met again at Lucas's office to finalize the necessary contracts and agreements. Following the handover of the CG unit to Richard, Lucas introduced him to the department heads, Edwin Catmull, Alexander Schure, and Alvy Ray Smith.
Initially, they were apprehensive about meeting their new boss, but after receiving reassurance that there would be no changes to the staff and that they would be relocating to a new facility, their concerns dissipated and they became optimistic once more.
After a productive and pleasant conversation with Richard, they decided to schedule an official meeting for the following week to discuss the reorganization of the department.