So A.E. Vogler proposes that media studios will be replaced by venture capitalists, ala. Michael Clayton.

I love the idea, but He's forgeting about two VERY important data points, Uwe Boll and Pornt. Uwe Boll He has consistently pumped out shitty movies by helping wealthy Germans VCs exploit a tax loophole. He spent $3m making craptastic flicks that rake in a modest $15m. The system he describes is exactly what the porn industry does, and for every great "Redheads Attack 2:Fire in the hole" you have 1000 crappy "Anal Whores 3."

The point of this is that studio execs act as a crap filter. (although not a very good one) What I am concerned about is a proliferation of low-budget porn-esque shit-flicks. Imagine that you are an investor with 100 million dollars. Would you rather invest in a $100m star-studded sci-fi action-drama or 33 $3mil plotless wastes of film. Everybody smart enough to have that kind of money will diversify so that you end up distributing risk instead of risking it all on "battlefield earth 2."

There are certainly crappy movies, but the real problem is TV. TV is just bad. Dramas are formulaic and uninteresting, sitcoms are dead, and I'm convinced that "reality" TV is a plot by the chinese to make Americans even dumber. The only quality work on TV seems to be in cartoons.