This is all trending into a completely different topic, namely agent failures and market failures in Hollywood. Movies routinely fail to make money due to lousy scripts, but this doesn’t cause Hollywood to routinely pay more for better scripts. Locks on distribution channels present huge barriers to new competition entering; Hollywood executives have no taste so they can’t hire people with taste (Paul Graham’s “design paradox”), but it makes them feel good to think they’re above their audience; presumably there’s some standard agent failures in the boardroom that prevents these guys from getting fired; etc etc.
Claim to anyone in Hollywood who knows what the phrase means that there’s an efficient market in getting movies made, and they’ll laugh like hell.
This is all trending into a completely different topic, namely agent failures and market failures in Hollywood. Movies routinely fail to make money due to lousy scripts, but this doesn’t cause Hollywood to routinely pay more for better scripts. Locks on distribution channels present huge barriers to new competition entering; Hollywood executives have no taste so they can’t hire people with taste (Paul Graham’s “design paradox”), but it makes them feel good to think they’re above their audience; presumably there’s some standard agent failures in the boardroom that prevents these guys from getting fired; etc etc.
Claim to anyone in Hollywood who knows what the phrase means that there’s an efficient market in getting movies made, and they’ll laugh like hell.