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Towards A Sustainable Investor Class: Diverse And Deep Industry Knowledge
By Ted Hope
Potential film investors need to be educated about what is working and what is not, where it works, and what could be done. No one likes to look foolish, but most film investors come to the industry having made their wealth in other fields (or having not actually generated it themselves) and thus often start with a paucity of the necessary and a surplus of the inapplicable.
Investments should be made based on educated choice, not an impulsive or biased guess — and certainly not on the advice of conflicted advisors.
The problem here is that the ramp up time for a sufficient knowledge base often deflates the passion that has driven someone to want to invest in the first place. We know we need it but we aren’t willing to invest the time required to do it. We meet someone super creative or incredibly attractive, and they have a movie — and we want to commit to it now. It’s not a wise way to work.Can we find a solution for this?
Imagine that everyone that wanted to learn about the film industry could somehow specialize — even if not in a particularly deep way — and gain a good working understanding of a unique aspect of the film industry, and then that same group could come together and share that expertise. The whole would be so much stronger than just the sum of the parts. Group learning allows the likeminded to accelerate quicker to achieve expertise.
Now recognize what a well funded group of like minded people who have declared they want to invest in film could access. Their money and intention would give them access. They would soon be able to learn from the best. In the hopes of appropriating their wealth, people would trade their knowledge. This group would soon know more than the average bear.
It’s interesting. Great disparity of wealth often develops in industry centers, partially attributed to the fact that when like minded people congregate together they accelerate their learning and learning potential. This phenomenon does not have to only pertain to negative tendencies. We can turn it on it’s head to use for positive change too.