It is caused by tech and by tech quite exclusively by Netflix, for sure. But nothing recent or magical thinking is to blame here. In the past people were dumbly

It is caused by tech and by tech quite exclusively by Netflix, for sure. But nothing recent or magical thinking is to blame here. In the past people were dumbly forced to pay hundreds of dollars for a cable package they never truly utilized fully. They bought CDs for 10-15 bucks a piece. They bought DVDs in Walmart for movies they never would have paid any money for otherwise except maybe because it’s now in the discount bin. One could argue that the per capita entertainment expenditure in the US might have been in the hundred+ dollar range in the nineties. But now due to Netflix and Spotify that’s not true. Even with all the subscription services it’s a small fraction once you divide family sharing. Thus we are making more movies and shows and music with less money for the total pie. Something’s gotta break. Realistically half the studios or folk making these things just have to stop making them. The industry cannot survive on the smaller pie with so many people eating chunks of it (I mean studios and tech companies not workers). It’ll be interesting to see how this actually ends up working out.