You know, it can be the Romanovs getting shot and Marie Antoinette losing her head. You know, the downward consequences of the beginning of a revolution. If you were running a studio right now, what restrictions would you put on generative AI?ĭILLER: Right now overly hyped as all revolutions that are at the very beginning. That's not the only industry worried about that. But on your point about AI and existential threats here- Fran Drescher, the head of the union said, we're all going to be in jeopardy of being replaced by machines. It's not just people in front of the camera here. MARGARET BRENNAN: Well, and also, they're all the people who are, you know, paid by the hour who work on these sets who aren't receiving pay when things are shut down. But these conditions will potentially produce an absolute collapse of an entire industry. And if it is- these conditions- it sounds like I'm crying to the skies. But the truth is, this is a huge business both domestically and for-for world export. Because unless it happens by September 1, the actions and you know, of course, who cares about Hollywood, who cares about it. I think there should be a settlement deadline. The one idea I had is to say, as a good faith measure, both the executives and the most paid actors should take a 25% pay cut, to try and narrow-narrow the difference between those who get highly paid and those that don't–ĭILLER: The only other thing I would do, I would call for a September 1 deadline.There's a strike deadline. Actually, everybody's probably overpaid at the top end. ![]() So- but there's no trust, you have the actors union, saying, "How dare these 10 people who run these companies earn all this money and won't pay us?" While if you look at it on the other side, the top ten actors get paid more than the top ten executives. Obviously, AI, which I think is just overhyped to death, in terms of the worries that there is and writers are going to be replaced rather than assisted, which is what I think will happen. And the problem with settlement in this case, is there's no trust between the parties. So this actually will have devastating effects if it is not settled soon. And at just the time, strike is settled that you want to get back up, there won't be enough money. So, you're gonna see subscriptions get pulled, which is going to reduce the revenue of all these movie companies, television companies, the result of which is that there will be no programs. What will happen is, if in fact, it doesn't get settled until Christmas or so, then next year, there's not going to be many programs for anybody to watch. But I'll posit what happens if it doesn't, and there doesn't seem to be enough trust and energy to get it settled soon. So, at this moment, this kind of perfect storm, it's okay if it gets settled in the next month. You- you've had the results of huge investments in streaming, which have produced all these losses for all these companies who are now kind of retrenching. Because you have almost a perfect storm here, which is you had COVID, which sent people home to watch streaming and television and killed theaters. What do you think the impact will be? And how long will the strikes last?ĭILLER: Well, the problem with this particular- all strikes get settled. And according to the Milken Institute, it could cause $4 billion in economic damage. ![]() ![]() MARGARET BRENNAN: You know, we were trying to gauge the economic impact of this.
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