For almost 25 years, Shane Smith’s plan was that, by the time the suckers caught on, he’d never be stuck owning the company he co-founded.
A fantastic article.
This reminds me a lot of the recent Theranos stories and book. It’s sad how companies don’t do enough due diligence on potential investments like this. When I think about how much basic work and discussion Marcus Lemonis does for $100,000 investments, I’m appalled to hear what people are doing for multi-millions. It’s stunning that a company can get to this size and be worth nearly nothing. Using the relative size (ie number of employees) of business units like human resources and legal within a particular industry could be a reasonable guide for the internal management of a company.
This is also a good example that while investments may give a company a particular valuation, it can rarely be the actual potential present value of the company. As a result, workers who are working for near free plus stock should be paying closer attention to company internals to know that their stock portion is going to be completely worthless.
Worse, I’m always pained to hear that young people (rich or otherwise) are essentially giving away their work and sweat equity away for free to big companies that could easily pay them. Eventually the pendulum is going to swing back the other way and companies are going to need to pay more.
One of my favorite quotes from the piece:
“Shane would always say that young people are the No. 1 bullshit detector, which was annoying once you realized that the thing he mastered is getting young people to buy shit,” says a recently departed senior employee.
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Perhaps coincidentally, there was a session at IndieWebCamp Austin yesterday (12/09/17) entitled Payments, Pledges, and Donations, Oh My!. The link includes the video of the session via YouTube as well as notes.
The premise is that many creators already have their own websites/platforms for promoting or featuring their work. In some sense Patreon is only bringing a payment gateway (and apparently not a great one) as their sole feature. The conversation within the session was geared toward attempting to make it easier and simpler for creators to not only host their own work, but to accept payments and recurring payments directly. Some of the discussion was geared at making the payments systems seamless so that one could move them from one platform to another without losing hard won supporters and needing to start over again.
While we’re still in the very early days for improving the technology for this, hopefully some of the demos coming out of the camp later today will move the ball forward. Those should be posted on the IndieWeb YouTube channel later today as well.
For those looking for alternates (and particularly when they’ve already got their own websites), I suspect it’ll definitely be worth a look. Alternate platforms and methods were certainly discussed. The means of control for creators to inexpensively keep all of their workflow in-house is very near.
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Join students and alumni from the Film and Media Studies Program in Culver City
I’ve been invited to participate in a panel discussion as part of an Intersession course by the Johns Hopkins Film and Media Studies Program. I hope fellow alumni in the entertainment and media sectors will come out and join us in Culver City on Thursday.
Join the Hopkins in Hollywood Affinity Group (AEME LA) as they welcome Linda DeLibero, Director of the JHU Film and Media Studies Program, and current students of the program for a dynamic evening of networking which features an alumni panel of industry experts.
Open to alumni, students, and friends of Hopkins, this event is sponsored by Donald Kurz (A&S ’77), Johns Hopkins University Emeritus Trustee and School of Arts and Sciences Advisory Board Member, and the Hopkins in Hollywood (AEME LA) Affinity Group.
Event Date: Thursday, January 12, 2017
Start Time: 6:30pm
End Time: 8:30pm
Donald Kurz, A&S ’77
Donald Kurz is Chairman and CEO of Omelet LLC, an innovative new media and marketing services firm based in Los Angeles. Previously, Mr. Kurz was co-founder and CEO of hedge fund Artemis Capital Partners. Between 1990 and 2005, Mr. Kurz was Chairman, President, and CEO of EMAK Worldwide, Inc, a global, NASDAQ-traded company providing Fortune 500 companies with strategic and marketing services internationally. Mr. Kurz’s 25 years’ experience in senior leadership includes management positions with Willis Towers Watson, PwC, and the J.C. Penney Company. Mr. Kurz is a Trustee Emeritus of the Johns Hopkins University, having served for 12 years on the Hopkins board. He received an MBA from the Columbia University Graduate School of Business and a BA from Johns Hopkins University.
Jason Altman, A&S ’99
Jason Altman is an Executive Producer at Activision working on the Skylanders franchise and new development projects. Prior to Activision, he spent the past 5 years at Ubisoft Paris in different leadership roles, most recently as the Executive Producer of Just Dance, the #1 music video game franchise. He is a veteran game producer who loves the industry, and is a proud graduate of the media studies program at Johns Hopkins.
Paul Harris Boardman, A&S ’89
Paul Boardman wrote The Exorcism of Emily Rose (2005) and Devil’s Knot (2014), both of which he also produced, and Deliver Us From Evil (2014), which he also executive produced. In 2008, Paul produced The Day the Earth Stood Still for Fox, and he did production rewrites on Poltergeist, Scream 4, The Messengers, and Dracula 2000, as well as writing and directing the second unit for Hellraiser: Inferno (2000) and writing Urban Legends: Final Cut (2000). Paul has written screenplays for various studios and production companies, including Trimark, TriStar, Phoenix Pictures, Miramax/Dimension, Disney, Bruckheimer Films, IEG, APG, Sony, Lakeshore, Screen Gems, Universal and MGM.
Devon Chivvis, A&S ’96
Devon Chivvis is a showrunner/director/producer of narrative and non-fiction television and film. Inspired by a life-long passion for visual storytelling combined with a love of adventure and the exploration of other cultures, Devon has made travel a priority through her work in film and television. Devon holds a B.A. from Johns Hopkins University in International Relations and French, with a minor in Italian.
Chris Aldrich, Engr ’96
Chris started his career at Hopkins while running several movie groups on campus and was responsible for over $200,000 of renovations in Shriver Hall including installing a new screen, sound system, and 35mm projection while also running the 29th Annual Milton S. Eisenhower Symposium “Framing Society: A Century of Cinema” on the 100th anniversary of the moving picture.
Following Hopkins he joined Creative Artists Agency where he worked in Motion Picture Talent and also did work in music-crossover. He later joined Davis Entertainment with a deal at 20th Century Fox where he worked on the productions of Heartbreakers, Dr. Dolittle 2, Behind Enemy Lines as well as acquisition and development of Alien v. Predator, Paycheck, Flight of the Phoenix, Garfield, The Man from U.N.C.L.E., I, Robot and countless others.
Missing the faster pace of representation, he later joined Writers & Artists Agency for several years working in their talent, literary, and book departments. Since that time he’s had his own management company focusing on actors, writers, authors, and directors. Last year he started Boffo Socko Books, an independent publishing company and recently put out the book Amerikan Krazy.
Source: Hopkins in Hollywood | Johns Hopkins Alumni
More information Office of Alumni Relations
Part of the course:
Students will have the opportunity to spend one week in Los Angeles with Film and Media Studies Director Linda DeLibero. Students will meet and network with JHU alums in the entertainment industry, as well as heads of studios and talent agencies, screenwriters, directors, producers, and various other individuals in film and television. Associated fee with this intersession course is $1400 (financial support is available for those who qualify). Permission of Linda DeLibero is required. Film and Media Studies seniors and juniors will be given preference for the eight available slots, followed by senior minors.Students are expected to arrive in Los Angeles on January 8. The actual course runs January 9-13 with lodging check-in on January 8 and check-out on January 14.
|Course Number: AS.061.377.60
Days: Monday 1/9/2017 – Friday 1/13/2017
Times: M – TBA | Tu- TBA | W- TBA | Th- TBA | F- TBA
Instructor: Linda DeLibero
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A series of articles by producer Gavin Polone can serve as an excellent introduction to the business of Hollywood.
Dearth of (Great) Textbooks on The Entertainment Business
In having previously taught several classes on the business of the entertainment industry, I was never quite able to pick out even a mediocre textbook for such a class. There are a handful that will give one an overview of the nuts and bolts and one or two that will provide some generally useful numbers (see the syllabi from those classes), but none comes close to providing the philosophy of how the business works in a short period of time.
A Short Term Solution
To remedy this problem, I was always a fan of producer and ex-agent Gavin Polone, who had a series of articles in New York Magazine/Vulture. I’ve recently gone through and linked to all of the forty-four articles, in chronological order, he produced in that series from 9/21/11 to 5/7/14.
I’ve aggregated the series via Readlists.com, so one can click on each of the articles individually. Better yet, for students and teachers alike, one can click on the “export” link and very easily download them all in most ebook formats (including Kindle, iPad, etc.) for your reading/studying convenience.
My hope is that for others, they may create an excellent starter textbook on how the entertainment business works and, more importantly: how successful people in the business think. For those who need more, Gavin is also an occasional contributor to the Hollywood Reporter. (And, as a note for those not trained in the classics and prone to modern-day stereotypes, I’ll make the caveat that I use the title “Machiavelli” above with the utmost reverence and honor.)
I’m still slowly, but surely making progress on my own all-encompassing textbook, but, until then, I hope others find this series of articles as interesting and useful as I have.
Gavin Polone is an agent turned manager turned producer. His production company, Pariah, has brought you such movies and TV shows as Panic Room, Zombieland, Gilmore Girls, and Curb Your Enthusiasm. Follow him on Twitter @gavinpolone.
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