Netflix director gambled budget instead of making show

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AgrippinaX's Avatar
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11-26-23
Netflix director lost millions gambling show's budget on stocks instead of making a new series


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Director Carl Rinsch hit the big time when he signed a deal with Netflix.


Back in 2018, when streamers like Netflix and Amazon Prime were scrambling to find content to keep up with the demand from customers, Rinsch pitched the rights to a sci-fi series that he'd started a script for.


Initially Amazon bagged an informal deal with the hardly-known director for an eight-figure sum but, before any papers could be signed, Netflix swooped in and ended up agreeing a huge $61.2 million deal with Rinsch for the series it later named Conquest.



https://www.unilad.com/film-and-tv/n...40226-20231125



Stirchley's Avatar
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11-27-23
Originally Posted by AgrippinaX
Netflix director lost millions gambling show's budget on stocks instead of making a new series


FILM & TV


Director Carl Rinsch hit the big time when he signed a deal with Netflix.


Back in 2018, when streamers like Netflix and Amazon Prime were scrambling to find content to keep up with the demand from customers, Rinsch pitched the rights to a sci-fi series that he'd started a script for.


Initially Amazon bagged an informal deal with the hardly-known director for an eight-figure sum but, before any papers could be signed, Netflix swooped in and ended up agreeing a huge $61.2 million deal with Rinsch for the series it later named Conquest.



https://www.unilad.com/film-and-tv/n...40226-20231125
I read about this either in the New Yorker or The NY Times. Interesting ridiculous story.
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AgrippinaX's Avatar
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11-27-23
Originally Posted by Stirchley
I read about this either in the New Yorker or The NY Times. Interesting ridiculous story.
It is utterly bonkers.

My favourite bit is this:

With the remaining money he'd transferred over, Rinsch moved more than $4 million from his Schwab account to an account on the Kraken exchange, which he then spent on Elon Musk-favoured Dogecoin.

But this risk paid off.

When he came to sell off the cryptocurrency in 2021, he had a balance of almost $27 million.

His winnings came after Netflix announced a few months prior that it would no longer be funding Conquest.



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11-27-23
In the wake of its decision to stop funding his sci-fi show, Rinsch has reportedly filed a lawsuit against the streamer, where he claims that Netflix owes him a minimum of $14 million in damages.

But Netflix has labeled this as a shakedown and has denied that it owes him any more cash.
Honk honk.



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11-27-23
I can't wait for the documentary. @AgrippinaX , Paul T. Goodman was the most meta tv show I have ever seen. It's about a nerdy fantasist that a documentary is made of and his coming to terms with the fantastic nature of his narrative. It kind of borders on the exploiative. Very wild. It is an American show.



AgrippinaX's Avatar
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11-27-23
Originally Posted by beelzebubble
I can't wait for the documentary. @AgrippinaX , Paul T. Goodman was the most meta tv show I have ever seen. It's about a nerdy fantasist that a documentary is made of and his coming to terms with the fantastic nature of his narrative. It kind of borders on the exploiative. Very wild. It is an American show.
Thank you! I’ll check that out. Not big on comedy but anything meta, I’m in.