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Hollywood is planning a Sam Bankman-Fried movie based on Going Infinite

Apple Studios and A24 are reportedly planning to adapt Michael Lewis’ book on the rise and fall of the former FTX CEO into a feature film.

Sam “SBF” Bankman-Fried may still be looking at 25 years in prison, but production companies are reportedly developing a film based on the former FTX CEO’s rise and fall from grace.

According to a Nov. 12 Variety report, Apple Studios and A24 are co-developing and co-producing a feature film about Bankman-Fried based on Michael Lewis’ book Going Infinite: The Rise and Fall of a New Tycoon. Lewis released the book in October 2023, on the day the former CEO’s criminal trial began in New York.  

Some critics of Lewis’ book claimed that the Big Short author downplayed the impact of Bankman-Fried’s actions on millions of investors, who were locked out of their accounts and could not access a combined billions of dollars. A portion of the book focused on SBF’s effective altruism and how it may have influenced events leading to his misuse of customer funds.

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Futurama can’t stop making fun of crypto and blockchain

The season two premiere of the animated science fiction series’ latest iteration focused on an NFT heist from a museum displaying digital artwork.

More than 25 years after its series premiere, the animated series Futurama, known for its “shut up and take my money” and “not sure if” memes, has gone after non-fungible token (NFT) fans in its latest episode.

In the Futurama episode “The One Amigo,” released on Hulu on July 29, the characters based in the year 3024 struggle to understand the concept of NFTs after selling a series featuring different looks for the robot Bender. The show parodies the Bored Ape Yacht Club NFT collection with the aptly named “Apathetic Fish Society” and explains how one might hypothetically steal an NFT using magical code from an ancient robot civilization.

“You can’t just delete an NFT. There are billions of copies stored all over the universe [...] But only the museum has access to a hashcode on the blockchain that authenticates ownership,” said children in the latest Futurama episode.

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Counterpunch: Russia Reveals Plan to Utilize Frozen Western Assets

Fortune favors something — Eminem takes Crypto​.com mantle from Matt Damon

Slim Shady was the latest celebrity to advertise “fortune favors the brave” for Crypto.com following Matt Damon’s ad spot in October 2021.

American rapper Marshall Mathers, better known as Eminem, has become one of the latest celebrities to tout cryptocurrency exchange Crypto.com.

In an April 26 X post, Eminem released an ad spot showing a boxing training montage interspersed with crypto jargon, including proof-of-work and Crypto.com’s now infamous slogan “fortune favors the brave.” The rapper was one of the first major celebrities to advertise for the cryptocurrency exchange since actor Matt Damon’s ad spot in October 2021.

It’s unclear under what terms Eminem became the latest celebrity voice to push crypto in the United States following a significant market downturn in 2022, the high-profile collapse of FTX and its former CEO Sam Bankman-Fried, and the U.S. Securities and Exchange Commission stepping up enforcement actions against digital asset firms. The rapper was a member of the Bored Ape Yacht Club, purchasing a nonfungible token (NFT) for $462,000 in 2021. 

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Counterpunch: Russia Reveals Plan to Utilize Frozen Western Assets

‘Dutch & Razzlekhan’ — A Cinematic Dive Into the Bitfinex Hack

<div>‘Dutch & Razzlekhan’ — A Cinematic Dive Into the Bitfinex Hack</div>The intricate saga of the Bitfinex heist, involving the disappearance of $4 billion in bitcoin, is being adapted for film. “Dutch & Razzlekhan” aims to vividly depict the bold cryptocurrency theft that impacted the cryptocurrency sector in 2016. From Heist to Hollywood: The Bitfinex $4 Billion Scandal Hits the Big Screen Directed by Jon S. […]

Counterpunch: Russia Reveals Plan to Utilize Frozen Western Assets

SAG-AFTRA strike ends as AI deal reached, Hollywood still torn

The 118-day Hollywood actors’ union strike came to an end with an agreement on AI usage, though not everyone in the industry sees it as the right move.

The Hollywood actors’ union SAG-AFTRA concluded its strike on Nov. 9 after 118 days of picketing with new deals on various proposed stipulations including artificial intelligence (AI) usage. 

Since then, the union has released a summary of its final deal with studios, which included nearly 4.5 pages of AI guidelines and a digital pamphlet spelling out the agreed-upon AI regulations for the industry.

SAG-AFTRA AI guideline digital pamphlet. Source: SAG-AFTRA

The AI agreement is expected to come into effect 90 days after the ratification of the agreement. Its terms include defining AI in industry terms, the digital replication of performers and background actors, digital alterations and the establishment of semi-annual meetings between the union and producers over generative AI use.

According to a report from Rolling Stone, the contract was approved by 86% of the board of Screen Actors Guild-American Federation of Television and Radio Artists and is going to union voters on Nov. 12 with a 21-day voting period.

A new type of digital asset

The deal defines and establishes coverage for the creation, use and alteration of “digital replicas” of performers. These digital replicas are copies of the voice or likeness of a performer for “portraying the performer in photography or soundtrack in which the performer did not actually perform.” 

These “digital replicas” are categorized by those made in employment with studios and those made independently. Compensation for the latter will be bargained by the actors themselves, however for those employed directly from studios, compensation will be for the creation and use of their AI replicas and its use in any additional projects or other mediums - plus normal residuals.

It also laid out a definition for a new type of actor called a “synthetic performer.” Under the terms of the agreement, this is a “digitally-created asset” that “is intended to create, and does create, the clear impression that the asset is a natural performer who is not recognizable as any identifiable natural performer.”

When it comes to the replication of background actors, the agreement seems to shield them from potential replacement saying that:

“Replicas must not be used to meet the background counts for the day. Replicas will not be used to avoid the engagement of background actors.”

The agreement stresses that explicit and “conspicuous” consent from the actor, either principal or background, is needed during the replication process, both for its use in the production for which it is made and for any future use.

Related: Hollywood studios offer new proposal for AI and data transparency to curb strike

This also includes consent for digital alterations to the performer’s performance in “previously recorded material unless it remains substantially as scripted, performed and/or recorded” and producers must provide a “reasonably specific description” of the alterations they would like to make. 

For background actors, the agreement said if “lip or facial movements are altered to make it look like a background actor is speaking, and dialogue is added, they will be upgraded to a day performer.”

Mixed reactions from Hollywood

Reactions from industry insiders to the agreement have been mixed, and alternate between praise for the deal and excitement to move forward, and believing more could have been done and fearing for performers. 

Director and producer Justine Bateman expressed her disagreement with the decision on social media. She called the AI permissions “violating” and said she was disappointed in the SAG-AFTRA leadership.

On the other hand, actor Jason Winston George, a negotiating committee member on the deal, took to X (formerly Twitter) to defend the agreement.

“Not only is it unrealistic and impossible to try and hold back the tide when it comes to technology, these new SAG-AFTRA protections actually allow you to surf the wave of AI technology when it comes to the use of your face and likeness.”

He said if a company wants to pay him by a rate he negotiated to use his AI double while he “stays at home—or better yet to work another job,” he’s on board.

However, he also said there may still be “a fight someday against Synthetic Fakes, completely AI-generated characters that don’t look like any individual performer.”

On the side of Bateman, actor Rainn Wilson, famous for his role in the sitcom The Office, mocked the deal, asking what would happen if actors disagree with the deal. Will they be replaced by AI actors?

The end of the SAG-AFTRA strike comes about a month and half after the Writer’s Guild of America (WGA) strike ended on Sept. 24. The WGA strike was also negotiating industry practices, among which AI usage in writer’s rooms was a critical negotiation. 

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Writer’s Guild strike ends with tentative deal approved, AI key negotiation

The Writer’s Guild strike has come to an end after five months of picketing, with a tentative deal approved for new conditions that include negotiations over AI usage.

The Writer’s Guild of America (WGA) strike is set to officially end as leaders approved a tentative deal with entertainment studios in Hollywood, part of which includes artificial intelligence (AI) usage in the industry. 

After nearly five months, the strike, which began on May 2, 2023, was pronounced over at 12:01 a.m. PT Wednesday, Sept. 27, 2023, as reported by Deadline.

One of the major argument points of the WGA, aside from higher wages and more fair contracts, was in regard to AI practices and implementation.

In August, Hollywood studios sent out a memo to the writers and actors on strike with a proposal for AI usage, though it was not sufficient for either guild.

The terms of the official agreed upon tentative deal with the WGA explained that:

“AI can’t write or rewrite literary material, and AI-generated material will not be considered source material.”

According to Deadline, this meant that AI-generated material is not allowed to be used to “undermine” a writer’s credit. The deal also says that:

“A writer can choose to use AI when performing writing services if the company consents and provided that the writer follows applicable company policies, but the company can’t require the writer to use AI software (e.g. ChatGPT) when performing writing services.”

Ellen Stutzman, one of the chiefs of the WGA, said that prior to going on strike, AI terms were ones that studios “refused to negotiate” prior to the strike. 

Related: US judge rules in favor of human ingenuity, denies copyright for AI art

Additionally, companies must be transparent with writers when AI-generated content is given to them or incorporated into a project. The WGA says it “reserves the right to assert that exploitation of writers’ material to train AI is prohibited by MBA or other law.”

The most recent agreements affect the WGA, which was one of the two entertainment unions on strike. SAG-AFTRA, the other striking union, represents actors and other “media professionals.” This union joined the WGA on July 14, 2023 and is currently still striking. 

AI is one of the main components SAG-AFTRA is fighting against as well. The AI proposal from studios suggested scanning of background performers, for which they would only receive a single day’s payment. Subsequently, they would grant companies full ownership over the scan, their image, and likeness.

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Californian lawmaker proposes legislation to protect actors from AI clones

Californian Assembly Member Ash Kalra labeled the bill as a “common sense requirement” to help protect the work of actors, artists and entertainers.

A Californian lawmaker has introduced a bill to protect actors, artists, and entertainers from artificial intelligence, by mandating employment contracts to include informed consent when it comes to digital replicates.

Ash Kalra, an Assembly Member of the State of California — the lawmaker behind the bill — argued that generative AI presents a “real threat” to workers in the entertainment industry and its use should be banned unless a bargaining agreement between the parties is made.

The legislation, Assembly Bill 459, will eventually be assigned to a committee whose members will research, discuss, and make changes to the bill proposed by Kalra, which will then be put before the chamber for a vote.

Kalra explained in a Sept. 13 statement that “common sense requirements” like those in bill AB 459 need to be implemented to protect these workers:

“Mandating informed consent and representation will help ensure workers are not unknowingly at risk of losing the right to their digital self, and with it, their careers and livelihoods.”

The bill was also supported by Screen Actors Guild and American Federation of Television and Radio Artists (SAG-AFTRA) — a United States-based labor union representing over 100,000 media professionals around the world.

Duncan Crabtree-Ireland, the guild’s national executive director and chief negotiator stressed that protecting an actor’s digital image through consent-based laws is now a necessity.

“We believe that our members must maintain full control over the use of their digital selves through informed consent, and this is key if they are to be able to build and sustain a career,” he explained.

Crabtree-Ireland said AI copycats can lead to “abusive” and “exploitative” practices and that legislation will play a key role in curtailing such conduct:

"We see protection against the unjust transfers of these rights to be an imperative against potential abusive or exploitative practices. We are deeply concerned by the proliferation of AI-created audio and video content without full consent, and this legislation is an important step to ending these dangerous practices.”

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The Screen Actors Guild has been behind a nearly four-month-long ongoing strike action in Hollywood over base compensation, better working conditions and other contentious issues.

One of the issues raised revolves around AI and its use, with the workers demanding stricter protections against artificial intelligence and larger royalties for their work, known in the industry as residuals.

In a recent interview with Variety, U.S. actor Sean Penn took a shot at many studios' desire to utilize actors' likenesses and voices for future AI use.

“So you want my scans and voice data and all that. OK, here’s what I think is fair: I want your daughter’s, because I want to create a virtual replica of her and invite my friends over to do whatever we want in a virtual party right now.

"Would you please look at the camera and tell me you think that’s cool?” he asked. 

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How Web3 can prevent Hollywood strikes – Replay joins Cointelegraph Accelerator

Hollywood strikes echoed the unbalanced value distribution in the streaming video industry — blockchain can change that.

Streaming video is one of the fastest-growing markets in the world, with the OTT video industry alone projected to reach $200 billion in 2023. Short for “over-the-top” video, the OTT video ecosystem includes on-demand video as well as ad-supported video content, and it is mainly driven by the growth of established Web2 streaming platforms, including Netflix, Hulu and Disney+.

The streaming video market is expected to grow at 14.3% CAGR. Source: Replay

The streaming video market is expected to grow at 14.3% CAGR. Source: Replay

While the reports project an $300 billion revenue for the streaming video business by 2027, the lopsided revenue-sharing mechanics of the industry creates an unhealthy balance between the creators of value and the platforms distributing that content. The centralized nature of the video streaming ecosystem allows for opaque distribution and lets platforms capture the vast majority of the revenue, leaving minimal value for video creators.

Although companies – ranging from talent agencies to tech projects – exist to broker and license content on behalf of the creator, they fail to track revenue accurately and mostly rely on manual record-keeping. The recent strikes started by the Writers Guild of America (WGA), Directors Guild of America (DGA) and SAG-AFTRA, the union representing actors in the United States, remind the film industry that the workers behind streamed shows are heavily underpaid and uninformed when they will get paid next, highlighting the issues in the traditional value distribution model.

Blockchain-based video distribution

One potential solution for mainstream media brands managing these issues lies in a decentralized, transparent video distribution ecosystem that utilizes the traceability and accountability qualities of blockchain technology. Replay, a decentralized video streaming protocol, aims to provide transparency and fairness to content creators and owners by building a video ecosystem with real-time compensation by monitoring content usage on playback and recording all data on a distributed ledger. The protocol can also gamify any video app with badges, missions and digital collectibles.

Replay’s first streaming service, RewardedTV, utilizes Web3 to reward viewers with digital tokens. Users can redeem reward tokens for digital goods, and the whole experience is gamified with features such as leaderboards and competitions.

How decentralized video streaming works for the benefit of creators and viewers. Source: Replay​​​​​​​

How decentralized video streaming works for the benefit of creators and viewers. Source: Replay

Using Replay’s asset management portal, creators can get live insights into their content consumption data and have direct control over their business models. Replay also lets creators be in charge of their own distribution by allowing them to build first-hand relations with platforms, publishers and communities that wish to support creators.

Replay joins Cointelegraph Accelerator

Replay has become the latest participant of the Cointelegraph Accelerator program. Given the growth potential of a Web3-driven video industry, Cointelegraph Accelerator picked  Replay for its U.S.-headquartered experienced team of 10+ employees hailing from within the video industry as well as its proven track record. “It’s incredibly exciting to be selected by Cointelegraph for this prestigious accelerator program,” said Krish Arvapally, CEO of Replay.

“In an online world that’s increasingly dedicated to streaming and video, this partnership is a testament to our progress in building the open Web3 standard for tracking and monetizing video engagement.”

As of May 2023, RewardedTV hit 100,000 registered users, with over 4,000 video-on-demand (VOD) options and over 120+ linear and live channels. The platform provides access to over 20,000 titles, including those from popular brands like Yu-Gi-Oh!, The Washington Post and WatchMojo.

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Hollywood studios offer new proposal for AI and data transparency to curb strike

The Alliance of Motion Picture and Television Producers released a memo of its offer to striking writers and actors, with proposed guidelines for AI usage and data transparency.

The Alliance of Motion Picture and Television Producers (AMPTP) released details of its proposal for striking actors and writers on Aug.22, which included standards for the entertainment industry surrounding the usage of artificial intelligence (AI) and data transparency. 

Under the proposed conditions, generative AI cannot be considered a writer. Therefore, any AI-created material cannot be regarded as literary or intellectually protected.

The proposal also ensures that material produced by generative AI cannot affect credit, rights and compensation. While companies can use generative AI-created scripts as source material, any writer who reworks the script will be compensated as if they are the original author.

Additionally, any studio or production company seeking a writer’s help in the development of an AI-produced script must disclose the origin of the script.

Initially, the proposal was released eleven days ago, on Aug. 11, but without significant information about important issues raised by the striking parties.

Related: US judge rules in favor of human ingenuity, denies copyright for AI art

Along with updates to AI-related matters, the proposal touches on data transparency issues. Before the proposal, writers rarely had access to metrics produced by their work.

The updated offer would allow viewership data to be made available to writers and presented in quarterly confidential reports. However, for the time being, it would only include subscription video on demand (SVOD) metrics — not advertising or transactional videos.

The AMPTP proposal suggested that:

“This increased transparency will enable the WGA to develop proposals to restructure the current SVOD residual regime in the future.”

The latest developments came on the 114th day of the strike and were the latest iterations of AI incorporation from Hollywood studios. 

On May 3, they rejected requests from the Writers Guild of America to ban AI completely from the writing room.

There were also proposals that suggested background performers should undergo scanning, receive compensation for the initial day of work and then grant companies ownership of the scan, image and likeness. This sparked a wave of backlash from entertainers in the industry.

Nonetheless, the signals of big production companies looking to incorporate AI are apparent. On July 27, Netflix posted AI job positions with exuberant salaries reaching up to $900,000.

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Netflix eyes AI amid Hollywood strike, offers high-paying AI positions

The positions come with six-figure salaries, ranging from $450,000 to $650,000 for the Technical Director role and $300,000 to $900,000 for the Product Manager position.

As the Screen Actors Guild‐American Federation of Television and Radio Artists/Writers Guild of America (SAG-AFTRA/WGA) strike over the use of artificial intelligence (AI) in film and TV production enters its second week, Netflix is advertising for AI developers to fill Product Manager and Technical Director positions within its R&D Labs and Machine Learning division.

In the job posting, Netflix stated that they are establishing a fresh product management position with the aim of enhancing the effectiveness of their Machine Learning Platform.

According to Netflix, both roles will be located at the stream platform's headquarters in Los Gatos, California, but they offer the flexibility to work remotely. The positions come with six-figure salaries, ranging from $450,000 to $650,000 for the Technical Director role and $300,000 to $900,000 for the Product Manager position.

Screenshot showing Netflix job listings on LinkedIn.  Source: LinkedIn

Both writers and actors in Hollywood share concerns about the increasing use of AI. Writers fear that generative AI tools, such as ChatGPT, may potentially replace their jobs, while actors are alarmed about their faces and bodies being scanned for background roles. This data capture raises worries about the indefinite use of their likeness for minimal or no compensation.

The job advertisement highlights the significant demand for machine learning and AI expertise, particularly given the rapid advancement of AI since the introduction of OpenAI's ChatGPT in November. Both positions necessitate experience in game design and the machine learning domain. Interestingly, neither role explicitly mandates a college degree as a requirement.

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As per the Netflix LinkedIn job posting, the vacancies emerged last week, which interestingly coincided with the breakdown of negotiations between SAG-AFTRA and the Alliance of Motion Picture and Television Producers (AMPTP). Consequently, the actors showing solidarity with the striking writers decided to join them on the picket line.

This development has added a layer of significance to the situation, with both parties expressing their concerns and demands through collective action during this critical period of contract negotiations in the film and television industry.

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