The Actors' Strike and Its Implications

Let me share a story about two rather foolish figures in the industry. But first, we need some background to set the stage.

Recently, Hollywood actors joined the ongoing writers' strike. You might be wondering: what does this have to do with technology? The answer is simple: their grievances revolve around streaming platforms and artificial intelligence (AI).

For instance, Jerry Seinfeld has amassed a fortune due to his share of syndication earnings—essentially, he receives royalties every time his show airs. This safety net is crucial, allowing him to stay afloat even when he’s not actively working on new projects.

However, with the rise of streaming services, actors and writers are compensated a fixed amount once a show is released, regardless of its success. This means that even if a film breaks streaming records, the creators receive nothing beyond their initial payment.

Now, actors and writers are demanding a continuous share of the streaming profits, highlighting the growing income gap between the executives of these platforms and the workers.

Enter buffoon number one: Bob Iger, the CEO of Disney, which owns Disney+. He dismissed the protesters as unrealistic, labeling the strike as a "shame" and an inconvenience to his business.

Uh oh. Here’s a tip: when your employees are striking, avoid belittling their concerns. His remarks have only fueled anger, especially among writers who are struggling financially, making his situation look even worse—particularly since he earned $27 million last year.

In addition to financial concerns, writers are also pushing for safeguards against the use of AI. They fear that producers might replace them with AI-generated scripts or use it to complete unfinished works, leading to a demand for stricter regulations on AI usage.

Now, let’s introduce buffoon number two: Fable Studios. Amidst this tumult, they chose to unveil an AI capable of "writing, animating, directing, voicing, and editing" an entire television show—complete with a mock South Park episode, which is precisely what writers dread.

If that wasn’t alarming enough, they followed up with a statement suggesting that this innovation could actually benefit writers: "We believe this release comes at a pivotal time, right in the middle of the largest strike in 60 years, and we hope for the Guilds in Hollywood to negotiate strong protections against unauthorized AI usage."

• Fable Studios

Not exactly the most reassuring message…

Without a resolution, scripted TV and film production in the U.S. could come to a standstill. Ironically, streaming platforms like Netflix and Disney+ might weather this storm better than others due to their vast libraries of content.

We’ll keep our eyes on this unfolding situation. 👀

Poll of the Week: Predictions on the Strike

What’s the buzz? Do you think actors and writers will achieve their goals? Share your thoughts below:

• They’ll secure higher pay
• They’ll gain protections against AI
• They’ll achieve both
• They’ll end up with nothing

P.S. Join our live polls and discover more content by subscribing for free here.

Quick Headlines to Chew On

After all the commotion, it appears engagement on Threads is dwindling: daily active users have dropped by 20% this week, and time spent on the platform has halved from 20 minutes to just 10. Not pictured: Elon, seemingly enjoying himself.

Speaking of which, Elon is launching an AI venture called xAI. The mission? To "understand the true nature of the universe." Sounds intriguing, right?

In other news, the NBA is set to debut on Apple Vision Pro—courtside tickets, anyone?

Satya and Zuck are getting cozy: the two shared a friendly IG pic after announcing their collaboration to release an open-source LLM named Llama 2, enabling developers on Azure to utilize it and granting Meta valuable R&D opportunities.

As for Reddit, the CEO had an interview this week, and the gist is: "We won’t reverse the API pricing changes, and we’re not overly concerned about the tools that had to shut down, as they’ve already profited significantly."

And finally, get ready for some hot tea: a Google employee leaked salary data for 12,000 employees, revealing that the median salary stands at nearly $280K per year. Wow!

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Reforge has released a library filled with lessons and insights from seasoned founders and operators. It includes actual documents and presentations utilized in successful companies. Though it requires a sign-up, it looks genuinely useful!

Memes for the Weekend

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That wraps up this week’s edition, folks. We’ll catch you next Thursday! If you enjoyed this, feel free to share it with a friend. We’re all about spreading the good stuff. 🙏🏾

Reviews of the Week

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The first video discusses the ongoing strikes in Hollywood and their implications for the entertainment industry, focusing on the latest SAG-AFTRA developments regarding video games.

The second video features Puck's Matt Belloni, who shares insights on the ongoing Hollywood strike and the uncertainty surrounding its resolution.