Planet Money – “Based on a true story”

Intro

“Based on a true story” is a podcast episode by “Planet Money” that explores the trend of Hollywood creating movies based on real events to ensure box office success. The episode focuses on the GameStop frenzy and the race among producers to turn this captivating story into a hit movie.

Main Takeaways

Hollywood’s Obsession with True Stories

• Hollywood is increasingly turning to true stories for dependable box office returns.
• Recent financial fiascos, like the GameStop movement, have become popular movie and show topics.

The GameStop Frenzy

• The GameStop movement was a story of scrappy underdogs taking on a rigged financial system.
• Youthful amateur day traders on Reddit fueled the GameStop stock surge.
• The GameStop frenzy has the potential to become a great movie.

The Race to Make the Movie

• Hollywood producers are vying to turn the GameStop frenzy into a hit movie.
• Winning the race to make the first movie is crucial in a competitive industry.
• Aaron Ryder, a producer for MGM, is determined to be the first to make the movie.
• Aaron needs a script, a director, and a cast of movie stars to get the green light from the studio.

Ben Mezzaric’s Cinematic Book Proposal

• Ben Mezzaric, known for his punchy book proposals, sells intellectual property (IP) to Hollywood.
• His books, filled with high drama and thrilling themes, appeal to movie producers.
• Ben’s competitive advantage is his ability to sell a story on just 10 pages.
• MGM wins the bidding war for the rights to make Ben’s book about GameStop into a movie.

The GameStop Movie Production

• Producer Aaron Ryder hires screenwriters Lauren Schuker-Blum and Rebecca Angelo to write the screenplay.
• Director Craig Gillespie, known for successful true story projects, is brought on board.
• Amazon’s purchase of MGM puts a halt to the GameStop movie’s development.
• Aaron Ryder and his team negotiate a deal and find a new financial backer to rescue the project.
• The film, titled “Dumb Money,” is successfully produced and will be the first GameStop feature film.

The Challenges of Hollywood

• Hollywood studios are difficult to navigate and compete with.
• Many movies are stuck in development limbo, waiting for the green light.
• The Writers Guild of America (WGA) strike is supported by some executive producers.

Summary

Hollywood’s Obsession with True Stories

Hollywood has recognized the financial success of movies based on true stories, leading to an increasing number of such projects. Recent financial fiascos, like the GameStop frenzy, have become popular topics for movies and shows.

The GameStop Frenzy and the Race to Make the Movie

The GameStop movement, fueled by young amateur day traders on Reddit, captured the public’s attention as a story of underdogs challenging a rigged financial system. Hollywood producers are competing to be the first to turn this captivating story into a hit movie. Aaron Ryder, a producer for MGM, is determined to secure the rights and assemble a talented team to bring the story to life.

Ben Mezzaric’s Cinematic Book Proposal

Ben Mezzaric, known for his punchy book proposals, sells intellectual property to Hollywood. His ability to condense a story into 10 pages makes his books appealing to movie producers. MGM wins the bidding war for the rights to Ben’s book about GameStop, signaling their commitment to the project.

The GameStop Movie Production

Producer Aaron Ryder hires screenwriters Lauren Schuker-Blum and Rebecca Angelo to write the screenplay, while director Craig Gillespie is brought on board to helm the film. However, Amazon’s purchase of MGM temporarily halts the movie’s development. Aaron and his team work tirelessly to negotiate a deal and find a new financial backer, eventually successfully producing the film titled “Dumb Money.”

The Challenges of Hollywood

Hollywood’s competitive and complex landscape poses challenges for movie production. Many projects remain stuck in development limbo, waiting for the green light from studios. Additionally, the ongoing Writers Guild of America (WGA) strike garners support from some executive producers, further complicating the industry.

Conclusion

“Based on a true story” examines Hollywood’s fascination with real-life events and the race to turn captivating stories, like the GameStop frenzy, into successful movies. Despite the challenges and competition within the industry, determined producers and talented creatives work tirelessly to bring these stories to the big screen.