In Hollywood, the future belongs to the writer-entrepreneur

I think that this is/will be the direction of every industry which hires people to do creative work, whether writing/hacking/design.

And the only way big companies will be able to persist is to create a mechanism for launching offshoots of themselves by investing in co-ventures between current/former employees/entrepreneurs and the company.

Also see Marc Andreessen's similar article from last week: http://blog.pmarca.com/2007/11/rebuilding-holl.html (as Goldstein mentions)

Creative accounting is why this does not work though standard channels. Hollywood loves to talk about sharing profit but never total revenue. A $40-million marketing blitz sounds like a great idea when they get a cut of that 40 million. Etc.

the question is, will the name of the social news site for writers and journalists be "Hack News"