Hey, let's marry the prudent shrewdness of Wall Street with the practical sensibilities of Hollywood!
Jesus Christ
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| What Keiser created along with Michael Burns in 1996 was the Hollywood Stock Exchange, a virtual technology where over 350,000 registered players traded shares of movies and celebrities using fake dollars. If Congress approves the idea, real trading should go live on exchange as soon as June 28—with real money. |
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| Hollywood is completely opaque about its finances and has a horrible track record of success. So lumpy and random are its successes that when studios invite investors to fund a slate of films, investors usually don’t get to choose which specific films they’ll put their money into. It’s all or nothing, because Hollywood needs the money to pay for the dogs as well as the swans. |
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| Swagger counters that while there are a lot of potential insiders who could leak damning information about movies, they only have the power of gossip. “They know what happens on the set, but not what the box office would be,” he said. The derivatives contracts would start trading only four weeks before a movie’s release, meaning that the movie would be well past the production stage and all the gossip from the set would have leaked already. There is not a lot of key information that can change a movie’s box office four weeks out, he argued. |
