Tune in today, Tuesday October 1st, to Volume 106, 7 PM East, 4 PM West.

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I went this morning.

Oh no, I know it’s Rosh Hashanah. I was supposed to see Sturgill Simpson last night at the Troubadour, with even dinner after at Dan Tana’s, but I felt too guilty.

But my last two years of high school we played the Rosh Hashanah Open.

On a bitterly cold day, while I skied at Bromley and my parents and Wendy did not, my father decided to go house hunting. And stunningly, when they picked me up at the end of the day, my father told me he’d bought. Which stunned me and thrilled me. Stunned me because my father was not that big a spender and thrilled me because this would ensure we came to Vermont and went skiing more.

The house cost $14,000 and change. This was back in ’68. It was down the street from the Equinox Hotel, which was closed at the time but is back in business, in Manchester, Vermont.

And I bet my mother a pair of Head skis that one of the holes of the golf course, which was between us and the hotel, went over the road. She’d never seen such a thing, I was right, and I got a used pair of Head Comps the following fall.

My father made friends with the real estate agent, who turned out to be Jewish, so the following Rosh Hashanah, and the one after that, we went to shul up in Manchester. Want to get that religious feeling? Have so few people in attendance that no one is on the same page during the responsive reading. Oh, they’re on the same page, they just don’t speak in unison. And we went to services the night of and the following morning of Rosh Hashanah back in Connecticut, but in Vermont, the evening was enough, in the afternoon we played golf, ergo the Rosh Hashanah Open. After all, Rosh Hashanah is supposed to be joyful, right?

So I woke up early and went to the ArcLight for the 11:15 show.

Now I left my parking ticket in the car. I realized this as I got out of the elevator on the first floor. You see I’d been scrounging for my energy bars in my automobile and forgot all about the parking ticket, which you need, otherwise you’re going to get charged up the yin-yang.

And on the way back up I got off on the wrong floor. You see the stairs were closed for repairs. And I started to get antsy, was I gonna miss part of the movie? I’m like Woody Allen, I’ve got to start at the beginning, otherwise I’m convinced I’ve missed something.

Then I see people who are obviously going to the ArcLight. So I put it in high gear, I don’t want to wait in line for a ticket. I pass people on the escalators, and I ran up to the counter just before a woman and her two little kids and purchased my ducat and immediately went to the bathroom. That’s right, I’m old, what are the odds I can sit through a three hour picture without peeing? Pretty low.

Actually, I’d had nothing to drink in the morning, I was prepared.

And when I entered the theatre, a big one, #1, I saw the usual beshirted usher ready to give the ArcLight rap. But she didn’t, because I was the only person in the theatre. She said when big movies open, sometimes they start ’em at 9 AM and nobody is there, so this wasn’t the biggest surprise to her, but it was to me.

So I’d picked one seat from center, so I moved over.

And then I realized I was looking up ever so slightly, so I went to the row behind, and then the sound was a bit softer, so I went back to the prior row. I know, it’s OCD, but really, the lower row was better. And I’m constantly checking my pockets to make sure I’ve got all my gear. And it’s then that I realize…

I’ve lost my wallet.

Oh boy. You mean I killed myself to get here on time and now I’m gonna miss some of the movie to look? Hell, maybe I’ll just wait until the end, someone will turn it in, but will I be calm during the show?

No.

There are only two trailers at the ArcLight. At least that used to be the pitch, I haven’t been in a long time, I haven’t been in eons, because it’s just too much of a hassle. I plan, and then when I’m there I wish I wasn’t, my mind can’t slow down.

So I’m standing by the exit, waiting to see… AND THERE’S A THIRD TRAILER!

I rush out to the ticket-taker, has anybody turned in a wallet?

No. But he said lost and found was handled by the concession.

So I walked over and interrupted a man pulling popcorn, but he didn’t have it either.

I went to the bathroom.

Gone.

And now I’m starting to flip. Forget the money, it’s the credit cards and IDs I’m worried about.

And the trailer is still going, so I whip out the flashlight on my iPhone and look for said wallet beneath the seats in my row and the row behind.

No go, it’s not there.

Now I’m starting to freak, this doesn’t add up, so I retrace my steps from the first of my rows to the second, and on the edge of the concrete, in the row behind, there it is.

So, I could be calm during the film.

Now I paid fourteen something for the ticket. Too much, considering Sharon Tate is gonna be charged seventy five cents in Westwood in 1969. I’ve been to that theatre zillions of times, I used to use my college ID to get fifty cents off, in 1974 the sticker price was $3.50, but then I got too old to use the picture and…

Concerts cost a staggering amount. Maybe fifteen bucks is worth it.

Oh, screw the concessions. I don’t want people eating, talking or checking their phone, if I bother to get out, can’t I watch the movie in peace?

And then the flick begins. It made me want to move to L.A., except I’m already here.

I’m not a fan of Leonardo DiCaprio, he never seemed grown-up to me, even when he became so. But he’s got this scene with this little girl where he kills and…

The real star is Brad Pitt.

Now if you’re a woman, you probably noticed him in “Thelma & Louise.” To me he was just another actor, but the women swooned.

But that was thirty years ago. You look in the mirror every day, you see your friends, you notice gradual aging, but you always think of old girlfriends and movie stars as how they look in pictures. But the truth is Brad Pitt still looks pretty damn good, even though he’s fifty five.

But it’s his attitude that kills.

Now male attitude is in question these days. You certainly don’t want to be macho in big business. As a matter of fact, men no longer know how to act, they’re afraid. But here’s Brad Pitt as Cliff Booth and he just doesn’t care what you think about him or what’s gonna play out, he’s got to be himself 24/7. I mean you can see trouble coming. Especially when he makes that guy fix his flat tire, I would have bolted immediately.

But he got there by picking up a hitchhiker. That’s something you used to do. No one would pick up a hitchhiker today. But even Sharon Tate does in this flick. Oh, do I need a spoiler alert? I don’t think so, the movie’s been out for months, not that I want to reveal too much.

But I’m a wuss. If I smell trouble, I’m out of there.

But not Cliff Booth.

Not that he’s doing well, he’s living in a trailer with his pit bull…

That’s behind the Van Nuys Drive-In. I remember going there to see the original “Friday the 13th,” back when you still hung the speaker on your window, before you turned on the FM radio. I was always worried about my battery draining down, but there are no drive-ins left, so I guess that’s not an issue.

And then when we hear that Cliff killed his wife, or at least it’s commonly believed…

Kurt Russell is killer in his role. He’s gotten old, but he’s grown into his skin. And the scene where Cliff’s widow is on the boat calling him a loser…

That’s one of the things I thought about during the whole film. I wasn’t here in ’69, but I arrived not long thereafter. I was never one of the insiders. They were considered a separate breed, it was unfathomable. But some people came to L.A. and some people made it and…

It was very different from today. People took a chance. Today if you’re middle class or above, you don’t. You go to a good school to get a good job and you’re on the track to success right away, you don’t want to be a loser.

Now we all know the women in this film, the hot ones trading on their looks. These are not MBAs, not MDs, these are people who sat in front of the mirror and then used their looks and charisma to snag a man and move on up the food chain, and if you didn’t have anything worth latching on to, you had no chance, no way.

Men have money. Women have their looks.

Oh, of course that’s not the rule, but it is in Hollywood, where no one’s got a CV and no one’s got a safety net, everybody’s making it up as they go along, faking it until hopefully they make it.

So Cliff is worried about losing his job as a stuntman, he ferries Rick Dalton around, but he’s got no other gigs. But he’s not humbled, not broken, he takes care of Bruce Lee and…Cliff is the antihero we all rally around, someone just going through the motions with enough charisma to make it work.

As for Rick Dalton…

He’s seen better days. He laments forgoing the last year of his series for films. And then Al Pacino, as jive as any business guy in Hollywood ever, says Dalton will never get ahead if he keeps on playing the heavy.

This is not working for Procter & Gamble, there is no insurance, it can disappear any day. And chances are you blew the money anyway. And you can criticize these people for their lack of financial acumen, you’d save the money, but you’d never risk it all in Hollywood.

As for the girls in the Family…

They’re too nice. At least at first.

Yes, you’re stoked, you’re remembering the sixties, when we all listened to the same radio stations, watched the same TV shows, you’re nostalgic, and then you remember…this is a shined-up version. The women in the real Manson Family were grittier. As for those who lived here, who grew up here, this was their everyday reality, which was beamed across America, across the world, every night, which is one of the reasons I moved to California. I’d say most people don’t have the cojones, but to tell you the truth, I’m not worried about most people. You want to drive with the top down in the middle of winter, you want society to be fluid, you want to feel the energy…

And in L.A. it doesn’t matter who your parents are, where you went to school. Oh, it might get you in the door, but everybody’s hustling every damn day, are you willing to?

So Tarantino gets the feel exactly right. And the Dolby Atmos is thrilling.

Oh, that’s a point I wanted to make. They’ve got to give up making niche pictures, that’ll never work and it isn’t. It should be all about event pictures all the time, that’s the only way to save the movies. And, like it used to be, with platform releases, they should make it harder to get in, you need to salivate, with only shows at night, it’s got to be an experience like going to a concert.

Did I need to see “Once Upon A Time…in Hollywood” on the big screen?

Don’t ask me that question.

So you’re wondering what the arc is, where the film is going. Then you realize it must be Rick’s career. But there’s all that Manson stuff and…

The flick ends and you go…WHAT?

It was a great ride with no payoff. Oh, there’s the typical Tarantino gore, but in terms of story, it was light, the film was more impressionistic.

Is it because I was overhyped, seeing the movie too late?

I don’t know, I think I would have been disappointed if I’d seen it when it first came out. I expected to be wowed, like “Hamilton.”

So what did I learn?

Well, that movies should be events. And all the money Tarantino spent was on the screen, there were the old cars and nuances… Although the truth is the 747 didn’t start flying until 1970, but that was almost fifty years ago and unless you lived back then and were an aviation fan, you would not know.

And of course Tarantino makes excellent use of music, but…

Going to the movies in 1969 was part of your life, you went on a regular basis, to see “Goodbye Columbus” and “Butch Cassidy” and…this film evoked those times, and on that level it’s a ten, but not in story.

And when it was all over, I called my mother, and she told me how she’d debated going to services. This made me feel guilty. She’s barely ambulatory, I don’t think she’s a believer, and she was gonna go?

So I came home and fired up my browser and went to services online, at the Wilshire Boulevard Temple. I’d like to tell you I didn’t surf the web while I was watching, but I’d be lying, and the truth is I rarely paid attention at the temple anyway.

But you’ve got to see this.

Fire up your browser and go to:

Wilshire Boulevard Temple

And then fast-forward to 1:38, that’s one hour and thirty eight minutes. And hang in there until…THEY START TO BLOW THE SHOFAR!

It’ll blow your mind. We just used to have little horns akin to Daniel Boone’s gunpowder carrier. But these rams horns…

Check it out.

So the sun has set.

Actually, it’s been cold in L.A. the past two days, into the fifties at night, but it’s gonna go back into the eighties by Wednesday.

And it’s fall, when the air is pregnant with possibilities.

These things we do to keep the flame burnin’
And write our fire in the sky
Another day to see the wheel turnin’
Another avenue to try

It’s not really the luck of the draw, but luck does play a huge part in it. But really it’s about your personality. That’s what gets you ahead in Hollywood, everybody believes you’ve got the goods if you can get inside.

But that’s a tough road.

Which Rick Dalton is afraid he’s gonna fall off of, and end up in his hometown in the Midwest.

But Cliff Booth will survive. Back when you could make it on minimum wage. But the truth is we’re all scrambling, we’re all hustling, and if you live long enough you’ll hit hard times – career, health, marriage, money…

Yup, life is the luck of the draw. You don’t want to have any regrets. And the people who come to Hollywood to make it, they don’t, they give it a good shot, because they want some of what’s in this movie.

And I can tell you how it’s different today, with social media and cameras.

But it’s more the same, if you can become a member of the club…

But not only is it hard to make it, it’s hard to stay there.

It’s a long way to the top if you wanna rock and roll, if you wanna be a movie star, if you want the brass ring.

But someone has to make it, why not you?

It wasn’t creepy.

I was shocked how many people were there, it was essentially sold out. How did they know and why did they go?

Advertising, Nelly told me, she runs marketing for the tour. I didn’t see any of it, not a bit, but that just shows how vast the world now is, you think you know everything, you think everybody else is clued-in when that’s rarely the case.

Yes, they were oldsters, but they’d paid to come. Tickets were not exorbitant, the average price was $55, but what got them out of the house in an era where all the entertainment is inside the house? Was it the acts, the experience..?

Having seen it, I’ll tell you it’s about the music, the songs.

I went expecting to laugh, figuring this was a novelty that no one was interested in. I expected the place to be a third full at most. I mean this is a gimmick, right?

Now it started at 9, which is so reasonable in this era of gridlocked traffic, most people can’t make it for the opening act even if they want to, they’d have to leave work early and sit on the freeway forever.

And at the appointed hour, the band began to play.

Didn’t they do this first with Elvis? His players?

But these were not famous cats, and they were astoundingly good, better than most people plying the boards today, at least the new acts. It was shocking. But then I learned that they’re all from the Broadway scene, they’re pit players, and they’re used to getting it right every night.

So Roy Orbison emerges from the footlights and…THE PEOPLE CHEER! It was like a regular concert, it was like everybody in attendance suspended disbelief and it was truly Roy Orbison on stage, alive.

But once you’ve seen the gimmick…

I found for the first half of the show, I could only watch the holograms for two numbers, after that I let my mind drift, I marinated in the music. But my eyes did lock on Buddy a bit more in the second half.

And it’s not Pepper’s ghost, it is something like a hologram, not that I heard exactly how these images were created. It’s expensive. The rightsholders get an advance and then everybody’s a partner, it’s seen like a Broadway show, if it plays long enough, there’s plenty of dough, right now there are two companies, two Roys and Buddys, one here and one across the pond.

Roy Orbison barely moved. After the show Nelly told me that one of his original players, upon seeing the hologram, said that Roy didn’t even move his hips that way, he stood stone still. Did that detract from the experience? I don’t think so.

The first thing I thought of was Journey, who I saw at the Hollywood Bowl a few years back. The songs had transcended the band, they were owned by the audience, which was singing along. It didn’t matter it wasn’t Steve Perry, and the truth is these attendees don’t care about Steve Perry, his new album came and went in a matter of weeks, which is faster than the instant the new projects by Madonna and the Boss got, but Steve had been gone so long, if Perry puts out more new music, it too will fade away instantly. I’m not saying if Perry came back Journey couldn’t do stadiums, like if Plant got back together with Page and they called it Led Zeppelin, but Robert still does good business by his lonesome and Journey does play stadiums, albeit with Def Leppard.

And the truth is you can never get these acts back together, Buddy Holly died in 1959, that’s sixty years ago, and Roy Orbison died in 1988, which was thirty one years ago, before Gen-Z was even born. It’s not like I passed on seeing Holly back then, I wasn’t even aware. But now I know the songs.

Orbison opened. I heard he was closing, but you know how it is with billing and performing with these acts, even if they’re dead!

And Roy’s immediately playing his hits. People are oohing and ahhing, they’re clapping during the songs, I wouldn’t have believed it if I didn’t see it.

And then Roy dissolved and Buddy came to life.

Now I was wondering, how short was this show gonna be? I mean after the gimmick did people get tired and did the producers not want to burn out their welcome?

Buddy was different. He had a long yellow guitar cord, at least it was yellow under the lights, and he jumped around like he had springs in his shoes and his body was made like Gumby’s.

Like I said, I could watch the holograms for about two numbers. Normally you focus on the lead singer, but these guys aren’t real.

But the music is.

The highlight of the show for me? “Well All Right,” which Blind Faith covered so well on their first and only album, only ten years after Holly’s death. Holly’s version is more raw, more simplistic, less rocking, but it’s the same damn song. As is “Not Fade Away,” covered by the Stones back in ’64. I heard “It’s So Easy” and thought of the famous Ronstadt version. “Maybe Baby”… What would it have been like if Holly lived, would he be seen as a has-been, a legend, would he have had more hits? I’m not sure the younger generation is aware of him, but they should be.

And when the curtain came down, I thought it was over.

But after the break you had people testifying on a screen… There wasn’t much screen time, a little nostalgia, illustrating the era, and then testimonials. Tom Petty got the biggest applause, illustrating that the audience was neither dead nor quite that old. And Petty was the only creepy part of the evening, it’s so weird that’s he gone, before his time.

And a few people left before the second half. And a couple left after a couple of numbers, but the rest stayed.

After Holly, Roy came back.

And then Holly again, with the aforementioned “Well All Right.”

Then Orbison closed the evening with “Oh, Pretty Woman.”

I never knew Orbison covered “Love Hurts,” he does a killer version, but I still think Nazareth’s is the best (the Gram Parsons/Emmylou Harris version kills too), but my lack of awareness of Orbison’s iteration demonstrates I can still learn something.

So I’m sitting there contemplating who else they could get on the boards. In the future would acts film themselves just for this purpose, for when they were gone?

And the reality is, this is just a gussied-up tribute show. But tribute shows do great business, and this is the actual act and the playing is flawless.

Hmm…

We’ve seen gimmicks/fads come and go. Do you remember 3D TV? Hell, there’s barely any 3D movies anymore. Do you see the trick once and forget about it?

But what if you never got a chance to see the act originally? Maybe you weren’t even born yet.

This is the legacy of rock and roll. The songs. We all know them by heart.

And this is testimony to today’s music business. Once upon a time it was all about the hit parade. But now the action is live, it’s the aforementioned experience, leaving the home, sitting in a room full of people. There are many ways to skin the cat, many ways to bring people to the gig.

The future?

I have no idea.

If you’re a muso, if you groan at any change or exploitation of music history, you’ll be bored, you won’t even go. But most people are just fans of the songs.

You can’t get people out of the house to see old movies.

But there’s something special about music, live music, when done right it loosens you up and sets your mind free. You go to a concert and the world outside fades away and you move to the tunes, you think about where you were when they were hits, when they played during your life.

And you sit there observing, and then Buddy Holly kills and you clap.

Just like me, I kid you not.

Check the financial pages. Entertainment CEOs make as much as anybody ruling the Fortune 500, even though their companies are oftentimes worth less and generate less cash flow. There’s a self-importance factor in Hollywood…these gents, and they are mostly men, control and steer the culture! That’s a powerful position, and they believe they’re indispensable.

Except in music, in the old days anyway. Music got short shrift because it was uncontrollable and unpredictable. And dependent upon the artists. That’s one thing the Beatles and the classic rock revolution did, wrest control of the art from the suits and give it to the creators. You recorded what you wanted to, you controlled the cover art, the label just had the right to sell it and market it.

But something changed about thirty years ago, the suits and now they were wearing such, took control of the business. And there isn’t a suit alive as credible as an artist when it comes to creativity. The artist has the idea, the suit wants to mold it to his or her vision. Credit Tommy Mottola. He brilliantly squeezed out Walter Yetnikoff and made it about the highly compensated, the finely dressed, exec. Mottola looked at Charles Koppelman’s paradigm and then injected it with steroids, after all, Sony, along with Warner Brothers, had the best catalogs, the best artists in the business.

And speaking of Warner Brothers, Prince’s main complaint with the company was it wouldn’t allow him to release as much product as he wanted when he wanted. There was the issue of whether the music qualified under the deal, whether the new music would compromise exploitation of the previous release, whether the new music would be up to a platinum standard.

Turns out Prince was right. On many levels. Career artists are no longer about hits. They’re about their catalog and their relationship with their fans, and the real money is made on the road.

The music survives, Prince survived every one of those suits at Warner Brothers until he fell to fentanyl.

There are two points here. One, who is more important, the artist or the suit, and two, the music business gets no respect, even though the profits from the Warner music labels built the Warner cable system, you see music scales, once it catches fire it takes almost nothing to continue to produce and reap the rewards, especially in the era of streaming, where there is no manufacturing and shipping.

So, for this exercise, the only thing that is truly important is the suits, how they wrested power from the artists and compensated themselves heavily and made like they were the artists. The worst example is Clive Davis, who gives the impression if it weren’t for him, the music business wouldn’t exist. But the truth is he had a very small purview, unlike Mottola or Mo.

So…

Everything’s going along swimmingly in Hollywood until the internet. And when the internet came along, what did the Tinseltown titans do? Deny it, said they were entitled to control and reap the rewards of their wares, ultimately driving recorded music to half of its revenue. They could have embraced the internet sooner, but they were afraid they’d lose their compensation in the process, and nothing is as sacred as an entertainment exec’s salary, bonuses and stock grants.

But over the past twenty years something has become clear… We can debate the extent to which Hollywood controls the culture, certainly less than it ever has in the era of social media and YouTube, but one thing is for sure…Hollywood execs are paupers compared to the Silicon Valley winners, and they don’t like it.

If you’re keeping up with the Joneses, and the Hollywood elite thought they were the Joneses, you don’t want to wake up one day and find out you’re far behind.

So…

Every company established a tech fund, an incubator, investment in tech was the way to riches.

But that’s like asking a musician to play in the NBA, that’s not in their skill set.

Furthermore, Universal Music famously sold the name “Uber” for a pittance.

But not everybody is stupid in Hollywood. One of the smartest is Ari Emanuel, along with his compatriot Patrick Whitesell. They didn’t care that CAA demanded respect. They formed their own talent agency which ultimately merged with William Morris and they ended up in charge.

But it wasn’t enough.

They saw the landscape changing. They saw the big paydays in Hollywood disappearing. So what did they do?

What the tech firms did, take on money to grow and cash in, big time. Yup, everybody at the now-named WME was waiting for the day when they’d become millionaires, billionaires, just like those they envied up north.

Now the question is, was it more about disruption or envy? Changing the business model before the bottom falls out or making those billions at the top.

It started with CAA, taking on investment. Remember thirty years ago, the breakthrough was that Michael Ovitz took CAA into business advising and commercial making. Once again, it was all about advice. But now it became about assets.

Yup, if you don’t own anything, what have you got?

Well, you used to have a bunch of agents taking 10% and an occasional win in packaging. Good money, but there was less money and no pot of gold at the end of the rainbow.

The agencies decided to go for the pot of gold at the end of the rainbow.

And the funny thing about this was their base was rejected, the talent they represented became secondary, because it didn’t generate enough cash, it didn’t scale. So, the talent was thrown under the bus, or maybe made to sit in the back of the bus, too bad, they had no choice.

Then the writers fired their agents. Their point was clear. Whose side were the agencies on? Were they sellers or buyers? There was an inherent conflict.

But these agencies now owned assets, they convinced themselves that they were sexy, and certainly history is littered with rich outsiders wanting to get in on the entertainment game.

But, as they did twenty years ago, the entertainment execs turned out to be bad seers, poor students of the game. The startup world faded and almost dried-up. You couldn’t compete with the behemoths. Facebook and Google and Amazon…they either bought you or killed you, affecting your upside.

And the bloom was off the rose for tech investors. They were wary of burning their bucks.

But a VCs whole business is based on taking risks. So they continued to do so, someone else had to pay.

Until this year.

Lyft and Uber go public and sink. WeWork turns out to be a fabrication, there’s very little there there. And Peloton has a small customer base, they’re charging too much for the business to truly scale.

And investors realized all this. The game changed.

Endeavor waited too long to get in the game. Hubris. After all, they were desirable, they controlled the content, didn’t they always say that content was king?

Of course not, distribution is king, which is why the cable companies mint money and 5G is going to generate beaucoup bucks. The L.A. execs misplayed their hand, they were out of their depth, they talked disruption, but truly it was about money.

Yup, Clayton Christensen said that the best companies disrupted themselves. Endeavor did this. But, when you disrupt, you have to write off your old bread and butter, your old customers, go from small to mass. And the UFC is mass, but Endeavor still wanted to control the old talent, they wanted it both ways, they wanted to get rich on the backs of their old bread and butter and not pay them. That’s a recipe for disaster.

And it’s not only Endeavor, it’s CAA and UTA too. They’ve taken on these investments, and the investors want their money back.

This is not Warren Buffett, who kicks the tires and buys in for the long term, this is new money, that wants to put in a little to make a lot. And it wants to make that lot in only a few years.

So where does this leave us?

The financial press says Endeavor is hobbled forever. They’re writing the entity’s death warrant, they say if the company ever goes public, the number will be much lower. Also, they say most people have no idea what Endeavor is, what it does. The WSJ just wrote that. Which is a kick in the face to these He-Men of Hollywood. Aren’t they kings?

Turns out they’re not.

Turns out they’re amateurs playing in a sophisticated world who are used to bullying people into submission, their greatest asset is their title, they declare you must play by their rules or you’ll be excommunicated. They create the art, they’re the ones who are talented, the talent itself is just grist for the mill, it can be replaced.

But we don’t have a new Prince.

And we never got a new Beatles, never mind Bob Dylan.

The agents loss sight of their business.

And one thing is for sure, Wall Street knows its business. The Street has learned that oftentimes there’s no there there, that there’s no way to make money, and now investors are shunning those who want to go public at high valuations to reap their rewards, pay back their investors and get rich themselves.

Now these investors, these private equity companies, these VCs…this is their business, very few of their investments pan out, they just need a few to go nuclear, so they can afford the loss, not that they’re happy about it, but they won’t starve, whereas Endeavor hurt not only itself, but the whole entertainment business, now those with cash will think twice not only about investing in talent agencies, but other entities in Hollywood.

And this is kind of funny, because for decades, Hollywood screwed outside investors. They let them come to the set, they let them meet stars and they let them lose their money. There was always another mark.

But movies are no longer king. And everyone’s seen this film. They know it can all be smoke and mirrors, they want to investigate. And when Endeavor decided to go public, those with the cash thought they were being ripped-off, overcharged for very few assets, so they said no.

Saying no to Hollywood?

Welcome to the new world. One in which Billy Joel no longer even makes records, where he writes his own ticket, he said goodbye to Hollywood long ago.

And now so has Wall Street.