Business
Hollywood Bets Big on the Bad Entrepreneur
“I’m not a nasty man,” the Fb founder Mark Zuckerberg (Jesse Eisenberg) insists on the finish of “The Social Community,” the 2010 movie that outlined the cultural response to younger tech billionaires. Zuckerberg’s considerate lawyer (Rashida Jones), an invented character who serves largely to adjudicate Zuckerberg’s persona, assures him that she doesn’t suppose he’s a jerk: “You’re simply making an attempt so exhausting to be one.”
Twelve years later, this ambivalence towards tech titans has resolved. The brand new consensus is that there’s certainly one thing improper with these individuals. Contemplate the brand new Showtime restricted collection “Tremendous Pumped,” which charts the rise and fall of the Uber founder Travis Kalanick (Joseph Gordon-Levitt). As Kalanick stomps throughout the tech scene, John Zimmer, the measured founding father of rival Lyft, diagnoses Kalanick’s drawback, and his superpower: “You’re not human sufficient.”
“Tremendous Pumped” (based mostly on the e-book by Mike Isaac, a reporter for The New York Occasions) arrives amid a wave of collection about unhealthy entrepreneurs — figures who exemplify the delusions of start-up hype as they lure buyers to bankroll concepts that turn into silly, evil or fraudulent. In Hulu’s “The Dropout,” Amanda Seyfried performs Elizabeth Holmes, the Theranos founder who dons a black turtleneck and pretends that she has developed expertise that may diagnose illnesses with a single drop of blood. In Apple TV+’s “WeCrashed,” Jared Leto performs Adam Neumann, the weirdly shoeless WeWork founder who hustles a $47 billion valuation for a bunch of co-working areas that he says represent a world consciousness-raising motion.
Even “Inventing Anna,” the Netflix collection from Shonda Rhimes specializing in the SoHo grifter Anna Delvey (Julia Garner), feels sympatico. Delvey, whose actual title is Anna Sorokin, floats via the millennial start-up scene along with her unplaceable European accent, bumping into the pharma bro Martin Shkreli and Billy McFarland, the Fyre Competition fraudster, as she tries (however principally fails) to persuade buyers that she is a German heiress launching an unique membership she has named after herself.
These collection vary from the tedious (“Inventing Anna” makes Delvey’s high-wire deceptions as uninteresting because the bus trip to Rikers Island) to the sublimely weird (when Seyfried confronts a mirror in smeared lipstick, she brings Joker-origin-story vitality to Silicon Valley’s most infamous girlboss). Watching them collectively, they create a shared universe during which scamming and entrepreneurship meet in a chaotic portrait of American decline. Sprinkled via the reveals are film stars enjoying rich weirdos, maximalist title playing cards demystifying monetary transactions, private-jet tantrums, questionable hair makeovers, vomit-marred employees events and plenty of self-aggrandizing comparisons to Steve Jobs.
The businesses’ story traces are all the time spilling into one another. In “The Dropout,” Theranos companions focus on a brand new app that “permits you to pay for a cab in your cellphone”; in “WeCrashed,” Neumann watches on tv as Kalanick is ousted from Uber’s board; in “Inventing Anna,” Delvey’s lawyer operates out of a WeWork.
The central figures usually seem like mirrored pictures: Whereas Kalanick amasses cynical workers who wish to break stuff, Neumann invitations his deluded employees to “construct tomorrow.” And as Holmes artificially lowers her voice to venture a masculine presence, Delvey makes use of a voice-modulating app to impersonate the German supervisor of her nonexistent belief fund. Their arcs all resemble electrified variations of Hieronymus Bosch’s “The Backyard of Earthly Delights,” the place utopian goals give method to wild sprees earlier than devolving into smash.
Most of those topics are already intensely acquainted. Although tales of company extra have lengthy captivated the media and leisure industries, by no means have the headlines been ripped as rapaciously (and as shortly) as they’re now. Since Holmes’s claims have been uncovered as fantasy in The Wall Road Journal in 2015, for instance, her downfall has been restaged in a book-length exposé, a number of podcasts, a feature-length HBO documentary, a web-based market of ironic fan gear, “The Dropout” and, maybe sometime, a film starring Jennifer Lawrence, which stays in improvement.
“The Social Community” lined Fb’s origins in simply two hours, however this new entrepreneur class is being reprocessed via hourlong episodes that drop week after week. Whilst these reveals solid skepticism on speculative tech bubbles, they work to inflate a bubble of their very own, as multiplying streaming providers shovel money into status restricted collection to bait viewers and knock out opponents. They really feel calibrated to sport the market in the identical method: safe examined mental property on a current scandal, recruit very well-known individuals to impersonate the gamers, tempo the story to a limited-series schedule (lengthy sufficient to advertise binge-watching, transient sufficient to lock in busy celebrities and justify budgets), then hope subscribers don’t cancel after the finale.
Whereas HBO’s “Succession” has well imbued its bad-business story with the regenerative powers of a sitcom, toppling and resetting its chess board each season, the restricted collection is beholden to its rigid arc. It tends to proceed like a morality play, with a agency decision signaling a lesson discovered. These reveals course of the identical period in the identical type via the identical zeitgeist, they usually come to comparable conclusions. One is that the road between scammers like Delvey and titans like Kalanick is slim, and entire techniques of energy are implicated of their rise. As one “Inventing Anna” character places it, talking with the cool readability of a Shondaland oracle: “Everybody right here is operating a sport. Everybody right here wants to attain. Everybody right here is hustling.”
However whereas “The Social Community” implies that Zuckerberg was introduced low by the dizzying stakes of the start-up scene, these reveals counsel that some persons are drawn to that scene as a result of they’re ruthless egomaniacs. The system rewards them — “be crazier,” Masayoshi Son, the chief government of SoftBank, advises Neumann — so long as the corporate valuation rises. The difficulty comes solely when the manager’s erratic conduct attracts adverse press consideration and threatens to spook the market and shake stakeholders’ fortunes.
Usually the unhealthy conduct issues the mistreatment of ladies. As Tim Prepare dinner (Hank Azaria) of Apple warns Kalanick (the man who thought it was a good suggestion to say “Boober” to a reporter), girls are “the canary within the coal mine” of company dysfunction. Whereas “The Social Community” argues that Zuckerberg began Fb in a pique of informal (and largely exaggerated) misogyny, rampant sexism is now pitched because the tech trade’s defining high quality — a weak spot that threatens to topple unhealthy males and, typically, carry unhealthy girls. In “The Social Community,” girls are relegated to the position of loopy girlfriend or comely intern, and whereas this will likely mirror the chauvinism of Harvard and Silicon Valley, it additionally reinforces it. A refreshing improvement of those new tales is that girls, too, are allowed to flourish into world-historical narcissists, usually underneath the guise of countering that chauvinism.
Holmes rises by courting the admiration of, per one episode title, “Previous White Males,” but additionally by positioning herself as a feminist triumph who speaks earnestly about girls lifting girls and, laughably, preventing the scourge of “impostor syndrome.” “WeCrashed” provides equal time to Neumann’s woo-woo spouse, Rebekah Paltrow Neumann (Anne Hathaway), who publicizes at an organization retreat that girls should assist males “manifest their calling in life,” then manifests her personal calling via her husband’s firm, firing workers with “unhealthy vitality” and beginning a WeWork faculty for indoctrinating kids into acutely aware entrepreneurship. And the “Tremendous Pumped” model of Arianna Huffington is performed by Uma Thurman as a suspect operator who flatters Kalanick — “Travis and I share a connection that one not often finds on this world males have constructed,” she purrs — and rises increased within the firm as different girls sink.
Uma Thurman as Arianna Huffington within the Travis Kalanick story — that appears like Hollywood phrase salad, however it’s engrossing however. A part of the draw of those reveals is the curiosity hole they create once they assign a film star to a reputation within the information. Although we could also be overly aware of, say, Elizabeth Holmes, we have now not beforehand seen her story interpolated by an actor, and the Hollywoodification guarantees to disclose one thing that journalism can not all the time provide: perception into what, precisely, is improper along with her. Seyfried performs Holmes as earnest, pushed, weak and hypercritical earlier than she turns chilly, manipulative and despotic. I don’t understand how true that portrait is, however I believe that with an actor as perceptive as Seyfried, Holmes might come to appear extra complicated than she actually is.
Just lately the absurdity of enterprise capital has been dwarfed by the spectacle of cryptocurrency, and now crypto tales are being churned into content material even sooner than their predecessors. Inside days of the arrests of Ilya Lichtenstein and Heather Morgan, dubbed the “Bonnie and Clyde of Bitcoin” and accused of a scheme to launder billions, the story had been optioned for a collection. It’s being developed by Forbes Leisure, the manufacturing arm of the monetary journal which till not too long ago allowed Morgan to hold forth on its web site as a ForbesWomen columnist, providing her “knowledgeable recommendation to guard an organization from cybercriminals.” That’s the most recent twist within the Hollywood I.P. gambit: Assist construct the parable, then dramatize the autumn.
Business
Q&A: For the Angels, Bally Sports is Plan A. What could Plan B be?
Three days after the Angels concluded the worst season in franchise history, their fans faced a new and urgent concern: Would they be able to watch their team on television next season?
The answer appears to be yes, and probably in the same way they did this season. On Wednesday, however, the parent company of Bally Sports indicated that it was prepared to step away from broadcasting games of the Angels and all but one other team.
A federal bankruptcy court has the final say, so nothing is definitive for now, and the Angels and Major League Baseball declined to comment. Here are questions and answers about what we do know.
What is happening in court, and what is happening with the Angels?
Bally filed for bankruptcy 19 months ago. Its latest plan to get out of bankruptcy could involve walking away from contracts for all teams besides the Atlanta Braves. It does not preclude other teams from negotiating new contracts that would save Bally millions in rights fees.
For the Angels, that is Plan A. The team is in discussion with Bally to restructure its current deal. The Angels would surrender some guaranteed revenue in order to avoid the financial uncertainty of a streaming-first future.
If the Angels do not reach a restructured deal with Bally, would I be able to watch the Angels on television next year?
Almost certainly. MLB could deliver the games as it now does for the San Diego Padres, Arizona Diamondbacks and Colorado Rockies: offering a streaming option while cutting deals with cable and satellite companies. As an example, the Padres’ monthly streaming price this year was $19.99.
Could the Angels explore other options?
They could. The Ducks, for instance, are offering a free streaming option as well as 65 free, over-the-air games on Channel 11 or Channel 13. The Ducks are one of several NBA and NHL teams sacrificing revenue — at least in the short term — in exchange for the ability to reach any fan in their local market.
Where does MLB stand?
Unlike the NBA and NHL, MLB has urged its teams not to take a new Bally’s deal at a significant discount.
MLB long has hoped to launch a national streaming package, provided the league could secure streaming rights for a critical mass of its 30 teams.
The Bally strategy could push MLB in that direction. The plan unveiled Wednesday would free 11 teams from any ties to Bally.
With three other MLB teams recently dropped by another broadcast company, that could give the league the opportunity to market streaming rights to roughly half its teams at once.
One party that might be interested in those rights: ESPN, for its ESPN+ service. ESPN reportedly is thinking about whether to renew or renegotiate its national MLB package — highlighted by Sunday Night Baseball, the Home Run Derby and wild-card games — and streaming rights could be a lure to retain ESPN.
If the Angels and other teams return to Bally or go elsewhere, that could complicate the MLB plans, depending on the terms of those deals. Generally, regional sports networks offer streaming rights only to subscribers. Last season, five MLB teams — not including the Angels — had granted Bally the rights to stream their games to non-subscribers.
Would the Dodgers be part of a national streaming package?
Almost certainly not. The Dodgers’ record $8.35-billion contract with SportsNet LA extends through 2038.
The Dodgers and other large-market teams that own local cable channels — including the New York Yankees (YES), the Boston Red Sox (NESN) and Chicago Cubs (Marquee) — stand to make much more money on their own. It is unlikely that small-market clubs would agree to pay the billions it would take to buy out the big-bucks teams, even if those teams agreed to entertain a buyout offer.
What is the Angels’ current television deal?
In 2011, what was then called Fox Sports had lost the Lakers to Time Warner Cable, and the Dodgers’ television rights were about to hit the market. Angels owner Arte Moreno brilliantly leveraged that situation, opting out of a Fox Sports contract worth $500 million and signing a new one worth $3 billion.
That contract, inherited by Bally, remains in effect at the moment. The Angels were owed $112 million in rights fees from Bally in 2023, according to Moreno. The team generated an estimated $407 million in total revenue that year, according to Sportico.
The uncertainty over what might happen to about 28% of the team’s revenue could dampen the amount Moreno might approve in player spending over the coming winter.
What has commissioner Rob Manfred said about teams that have lost their regional sports network?
“We think that reach is a really important change,” Manfred said at the All-Star Game in July.
“San Diego is kind of the leader in the clubhouse there, approaching 40,000 subscribers, which is a really good number. Having said that, from a revenue perspective, it is not generating what the RSNs did. The RSNs were a great business. Lots of people paid for programming they didn’t necessarily want, and it’s hard to replicate that kind of revenue.”
In 2023, the league guaranteed that any team losing its local television deal would retain at least 80% of the revenue from that deal, with MLB making up any shortfall. Is that guarantee still in effect?
No.
Business
Your guide to the presidential candidates' views on tax policy
Though sparse on details, the broad outlines of what Vice President Kamala Harris and former President Trump want to do on taxes are clear — and they are very different.
Trump’s tax proposals are tilted to benefit wealthy Americans and large corporations. Under Harris, the bulk of personal gains would come to those with lower and lower-middle incomes, according to the Penn Wharton Budget Model.
“Harris has a more ‘coherent’ plan because she’s essentially got [President] Biden’s budget proposals, which are fairly scored, scrubbed and all that stuff,” said Douglas Holtz-Eakin, president of the conservative-leaning American Action Forum and former director of the nonpartisan Congressional Budget Office. “We know that agenda — enhance the child tax credit, raise the corporate rate, tax high-income people.”
Trump, he said, “has got a more tax cut orientation. He’s talked about a 15% corporate rate” — down from the current 21% — “and now he’s walking around and offering a handout at every rally on what he’s not going to tax next — tips, Social Security, overtime. It looks to me he’s just trying to match her on middle-class tax cuts.”
Business
'Rust' to premiere at Poland film festival, followed by panel about Halyna Hutchins
Three years after cinematographer Halyna Hutchins was fatally shot on the set of “Rust,” the movie is set to make its world premiere in Europe.
The organizers of Poland’s EnergaCamerimage international film festival announced Thursday that “Rust” will be screened at the event, followed by a panel discussion honoring Hutchins. EnergaCamerimage will take place Nov. 16 -23 in Torun.
Hutchins was working on the New Mexico set of “Rust” in October 2021 when a bullet from star and producer Alec Baldwin’s prop gun killed the 42-year-old Ukrainian cinematographer and wounded director Joel Souza.
Baldwin recently stood trial in New Mexico for involuntary manslaughter in connection with Hutchins’ death, but the case was dismissed amid a dispute over the special prosecutor’s handling of evidence. The actor had pleaded not guilty.
This week, a New Mexico judge denied a request to release Hannah Gutierrez from prison after the “Rust” armorer was found guilty of involuntary manslaughter and sentenced to 18 months in prison. Gutierrez has maintained that she loaded Baldwin’s gun with what she believed were inert “dummy” rounds, unaware that a live bullet was in the chamber.
After the “Rust” screening, EnergaCamerimage will host a panel featuring Souza, as well as one of Hutchins’ mentors, Stephen Lighthill, and the cinematographer who finished the film, Bianca Cline.
The panelists are expected to discuss how the filmmakers completed the picture while maintaining Hutchins’ artistic vision. Other topics of conversation will include the role of women in cinematography and the importance of safety on set.
According to the festival’s announcement, Hutchins suggested bringing the film to EnergaCamerimage — a festival celebrating the art of cinematography — during the early stages of production on “Rust.”
“We knew that our event was important to her, and that she felt at home among cinematographers from all over the world, who have been gathering at Camerimage for over 30 years,” festival director Marek Zydowicz said in a statement.
“During the [2021] festival, we honoured Halyna’s memory with a moment of silence and a panel of cinematographers discussed safety on set. Now, once again, together with cinematographers and film enthusiasts, we will have this special opportunity to remember her.”
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