The Prof G Pod with Scott Galloway No Mercy / No Malice: Struck
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May 20, 2023 The discussion kicks off with insights on the Hollywood writers' strike and its historical parallels. It draws intriguing comparisons to the decline of the British coal industry, stressing union solidarity. The talk dives into how entertainment is shifting from scripted to unscripted formats, spotlighting the impact of platforms like TikTok. Streaming woes are a focal point, examining profit margins and union negotiations over AI. Finally, there's a look at the financial fallout of the strike and the need for a strategic rethink in streaming economics.
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WGA Strike Parallels
- The Writers Guild of America, like the UK's National Union of Mine Workers in the 80s, likely misjudged the situation.
- Their strike may severely weaken them, similar to what happened to the miners.
Entertainment's Decline
- Scripted entertainment, like the British coal industry in the 1980s, faces structural decline.
- Alternative entertainment sources are increasingly popular, decreasing reliance on Hollywood writers.
Alternative Entertainment Tsunami
- Reality TV, live sports, and social media present strong competition to scripted TV.
- TikTok is a major threat, especially for younger generations who prefer it over traditional television.