Hollywood’s Favorite New Credit

PRESENTED BY LAUNDY SAUCE

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Bipartisan lawmakers in both the Senate and House of Representatives introduced the first-ever federal film and TV tax credit — the Motion Picture, Television, and Entertainment Revitalization Act.

The Big Picture: Hollywood and the broader entertainment industry have been clamoring for a federal tax credit for years, especially as an estimated 60% of productions now shoot outside the US. That shift has decimated the livelihoods of blue-collar production workers in cities like LA and Atlanta. Its passage could be revolutionary not just for the viability of these jobs, but also for the projects studios greenlight.

Behind The Scenes: After years of losing productions to countries like Canada, the UK, and Romania, the US is finally getting its best chance yet to bring productions home.

Here are some highlights from the bill:

Final Credits: In these divided political times, it’s incredible that there is so much bipartisan support on this issue, which is being positioned as an American jobs issue in desperate need of solving. After actor Jon Voight and partners in his camp showed President Trump the data on runaway production, he expressed support for a federal tax incentive. At that point, Democratic Senator Adam Schiff, who has been working on the issue for years, and several other lawmakers began working on a proposal that has broad backing from Hollywood’s various unions.

That’s an unprecedented amount of momentum just as Hollywood is getting its footing again after COVID, the streaming implosion, and the dual strikes of 2023.

Coming Soon: There’s still a long road to getting this bill passed — especially in an election year — but a job market that feels like quicksand under everyone’s feet could help push it over the finish line. The momentum is reason to be optimistic.

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VC firm Andreessen Horowitz (a16z) is breaking ground on a new post-high school education project called the Horowitz Andreessen Academy.

The Big Pitch: The skills needed for a job in Silicon Valley — especially in AI — are changing so fast that many of its leaders no longer believe a typical four-year university is giving students the tools and experience they need to enter the workforce. While some are advocating for students to simply skip school, others among the biggest names are opening (and closing) their own grade schools, apprenticeship-focused internship pipelines, or college-like trade schools. Time will tell how successful these experiments are.

Behind The Syllabi: The Horowitz Andreessen Academy, an uncredited one-year program developed by Udemy co-founder Gagan Biyani, is already open for applications.

Final Enrollment: The academy has already raised $42 million to begin operations, with the in-person program set to take place at an undisclosed location in San Francisco. While the inaugural class won’t have to pay tuition, the company plans to introduce a two-year paid program with tuition “comparable to that of an elite private university.”

The Future: Soon, tech-focused high schoolers may be touring both Ivy League institutions and Silicon Valley-developed alternative education programs. The trade-school question is no longer reserved for blue-collar roles.

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34% of you voted No, and I wouldn’t use AI that way in yesterday’s poll: Have you ever used AI to save money?

“Companies are constantly having data breaches. Why would I open up another avenue for my information to be stolen?”

“My skepticism comes from the fact that whatever I tell an AI is information that will likely never be forgotten. No matter how many times we users tell an AI to delete something, or how many times the AI tells us it does not retain something, we have no way to confirm that our very personal information isn’t just sitting there waiting for bad actors or bad AI to use it for their own gain. I really don’t see how I could be convinced to trust an AI to tell me the truth on this — or anything else — because why would it?”

“I’m not sure I like putting personal information into a robotic platform that can then store it as part of its ever-increasing database of knowledge, but I’d try it once with fake numbers just to see what it would do.”

“Trip planning, surfacing hidden airfare combos or travel deals, etc. I even created my own ‘watch list’ agent that notifies me — à la a buy order on the stock market — when something on my list reaches my ‘buy point.’”

Let’s keep the conversation going. Join Poll Of The Day, so your opinions can shine. Discover how your views line up with your peers’, check out cool insights, and have some fun. It’s data with personality.

🖋️ RedBird Capital has acquired a majority stake in Puck, valuing the newsletter-focused media company at $250 million.

💻 Now, A24 and NYT are considering buying Letterboxd in a deal that could be worth $300 million.

🎤 Taylor Swift is set to debut a new music video at the VMAs, with MTV hoping she can boost ratings for the awards show.

👓 Meta debuted two game-changing new devices yesterday — a palm-sized charm for its Muse AI agent and a pair of lightweight VR glasses.

👀 OpenAI autonomously hacked Australia’s Department of Health website back in June.

📞 Google is experimenting with letting Gemini make calls to people and companies on a user’s behalf.

₿ BlackRock is going on the blockchain with three investment vehicles that can be traded as digital tokens.

🛒 Meta has inked retail partnerships with Walmart, Best Buy, and Sephora for its Muse AI agent.

👗 Google can now search your photo library to build a digital version of your closet.