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Speaker 1: Now Village Road Show, who are no small player in

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Speaker 1: the movie industry. Of course, this week filed for chapter eleven.

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Speaker 1: They've been having some legal troubles or issues with another

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Speaker 1: major studio. But they also cited along with that their

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Speaker 1: other overriding problem, the actors strike. You remember that it

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Speaker 1: was more than actors, of course, it was the whole

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Speaker 1: of the industry. Hollywood came to a great, big grinding

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Speaker 1: stop for months as they argued over pain conditions. Some

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Speaker 1: of the pain conditions were based around what was seen

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Speaker 1: at the time as this frightening new development called AI

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Speaker 1: that was potentially going to slash their work in income.

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Speaker 1: They wanted protections. It was eventually settled, but and here's

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Speaker 1: the really big question, at what cost. Hollywood has never

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Speaker 1: come back. The movie industry has never really been the

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Speaker 1: same again, irony of ironies. A lot of people lost

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Speaker 1: their jobs, not because of AI, but because they never

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Speaker 1: recovered from the shuttering as a result of the strike. So,

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Speaker 1: given fewer movies were made, less income was generated, and

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Speaker 1: so the vicious cycle began until someone like Village Road

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Speaker 1: Show could no longer go on, so they folded for

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Speaker 1: chapter eleven. Chapter eleven. If you don't know. By the way,

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Speaker 1: it's not the end. It can be the end, but

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Speaker 1: initially it's about some protection to get some affairs in

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Speaker 1: order and potentially get a rescuer. The lesson here is

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Speaker 1: this unionism, which is what this is. I mean Hollywood,

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Speaker 1: in the film and television industry is heavily unionized as

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Speaker 1: one of those ideas that once upon a time might

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Speaker 1: have made a modicum of sense, but as the world

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Speaker 1: in the workplace has changed and got increasingly sophisticated, now

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Speaker 1: presents as an old idea that basically does more harm

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Speaker 1: than good. So they go on strike. The multimillionaire actors,

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Speaker 1: of course back them. Food parcels are handed out, they

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Speaker 1: pound the picket liney eventually cut a deal. Is that good? Well?

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Speaker 1: Not of you then go and lose your job, not

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Speaker 1: of the studio then goes and files for chapter eleven.

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Speaker 1: What's the point of that? What would you rather have

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Speaker 1: more money for fewer people or more people? Because that's

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Speaker 1: what unionism does. So was the strike a win or

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Speaker 1: a path to joblessness and business ruined? And what do

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Speaker 1: you reckon? Village Road Show would say? For more from

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Speaker 1: the Mic Asking Breakfast, listen live to News Talks. It'd

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Speaker 1: be from six am weekdays, or follow the podcast on

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Speaker 1: iHeartRadio