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Here's an excerpt from a summary of an event at Duke University's Fuqua School of Business on Friday, where Robert Johnson gave a speech about his rise to success:
“I fundamentally believe that if there were more John Malones in this society, there would be more Bob Johnsons,” Johnson said. He said that society needed to find a way to make capital access more available to black businesspeople. “It is becoming more and more difficult to gain access to capital and not because of scarcity of capital,” he said. “There is a trillion dollars sloshing around this economy, but none of it is blowing our way.” He believes that in many situations, black people and other minorities just need the opportunity to get their foot in the door. “My story is because someone in the white community said, ‘I want to back this young African- American guy on this idea called BET,’” he said. “It was a real roll of the dice kind of gamble. But somebody did that, and it paid off.” He said that as he is nearing the end of his career, he wants to see more black and minority Americans prove to the broader society that they deserve the right to manage and create value out of the wealth of the nation.
That got me thinking about many of the conversations we've had and continue to have on this site, especially about power, ownership and influence in this industry.
I could be reading too much into it, but the sentiment I get is that Johnson is stressing the fact that a rich white man in John Malone invested in him, a black man with promise, and that this is the kind of thing we need to see happen more often if black people are to participate in the broader financial success stories of this country.
So essentially, reiterating the idea that white people have the money and power, and that we (black people) may need them in order climb that ladder of success - especially those who want to be owners and power players themselves.
I feel like this goes against a lot of what we discuss here at S&A about the need for *US,* black people, to invest in ourselves; meaning that there are more than enough black people in this business (or in the business world in general) with their hands in some of that trillion dollars he says is sloshing around the economy, that instead of the John Malone's of the world investing in us, those black people whose bank accounts are overflowing (like a Robert Johnson for example), should be investing in up-and-coming black business people who've shown promise and have a track record.
Although to his credit, the summary says that Johnson *invented* what he calls the "RLJ Rule to give back," which states that companies should interview at least one minority applicant for any position at or above the director level; but of course it's all voluntarily. Companies aren't forced by law to do so.
“I’m not asking for any form of reverse discrimination, but I just have to live with the facts,” he said. “If you can’t get access to pursue your dream, you will not be able to be competitive.”
That's true, but other than *inventing* this rule to give back, I think we'd all like to see Johnson do for up-and-coming black entrepreneurs what John Malone did for him. Although maybe he has, and he isn't shouting it from rooftops.
But my point here is really to ask if this is popular thinking among *US,* black people. When it comes to the film industry, are we waiting for white folks to help us out, or are we looking to those black people with power and influence to do that for us?
I think of one example in Lee Daniels, when he was trying to get funding for Precious. Long story short, white millionaires funded the film. And then what happened after the film was made, and it was a hit at the Sundance Film Festival? Two prominent and very rich black celebrities in Oprah Winfrey and Tyler Perry came onboard as "executive producers."
My question to them would be, where were they when Lee Daniels was trying to raise money to get the film made?
And we've seen this kind of thing happen more than once.
I know I'm probably beating a dead horse on this site (I know Tambay has called for some kind of black-owned and operated film studio in the past) when I say that I'd love to see Oprah and Tyler (or anyone else at their level, or close to it) team up and create some kind of a financing company specifically to finance films by black filmmakers, especially indie black filmmakers. I think it actually reflects negatively on US when we have to go ask white people for money, when we have black people who have the money to give/loa/invest.
Just my take on the whole thing, spurred on by what Robert Johnson said above.
Your take?
You can read the full report of Johnson's talk HERE.
32 Comments
ALM | November 22, 2012 6:05 PM
"He said that as he is nearing the end of his career, he wants to see more black and minority Americans prove to the broader society that they deserve the right to manage and create value out of the wealth of the nation."<<< This is one of the key problems with this type of discourse. Black Americans are always being asked to PROVE themselves, while other people are consistently allowed to make flop after flop without having to PROVE themselves. Black people don't need to prove anything to anyone but themselves.
"....Johnson *invented* what he calls the "RLJ Rule to give back," which states that companies should interview at least one minority applicant for any position at or above the director level...."<<< This "rule" he "invented" is absolutely WORTHLESS. You can interview 15 people of color for one slot, but if you never actually hire any of them or never greenlight their projects, then you are still at square one.
"When it comes to the film industry, are we waiting for white folks to help us out, or are we looking to those black people with power and influence to do that for us?" <<< I think that there are filmmakers who fall into both categories. At the end of the day, I believe that film makers should take a page from both Ava Duvernay (with regards to quality of her work and her revolutionary business model) & Tyler Perry (with regard to his business model). Both have been able to make feature films for little or nothing. I think we have to release the mind set that we need $25 million in order to make a film. We have to save up to make the $500,000 films and market/advertise relentlessly via low cost forms- i.e. blogs, Facebook, Flyers, etc. Then later we can make the $50 million film. I believe that Ava will be making multi-million dollar films in the future. The thing is, she's so good that she doesn't even need a big budget.
Donella | November 20, 2012 6:25 PM
I recommend Nollywood--Nigerian film industry for financing. And then perhaps financiers in the Middle East. The richest people of African descent are not in America. They are in Africa.
Rod | November 20, 2012 12:51 AM
The thing is, investing in movies is like investing in anything else. People need to know they're getting a return. It would make more sense for black filmmakers to start with films the mainstream will like, like a comedy or an action movie. Tom Hanks started with Bachelor Party and Big before doing Forrest Gump and Apollo 13. And nobody would have seen Lost in Translation if Bill Murray didn't do Stripes. Once you're a known commodity, you're less of a risk. Look at Issa Rae. She's done amazing things on YouTube. And now she and Shonda Rimes have an upcoming sitcom. I really believe black filmmakers netted to get their art to the masses and make a name for themselves so they can get support from smart investors rather than hoping their artsy projects get funding by benevolent millionaires.
NO BRAINER | November 20, 2012 12:39 AM
"or are we looking to those black people with power and influence to do that for us?" asks Courtney. Well, if this is true, no wonder not enough of us are doing it big in this business. If black people wait on other black people to eat, they will starve. Black people are big on faith, probably one of the most church going race of people in America. But black people also need to "see to believe," which is kind of ironic considering our faith in the unseen. And until black people see one of their own doing it BIG, they don't show support. Perfect example, the Lee Daniel's story behind Precious: The two prominent black people wait until all the hard work is done, with the backing of white millionaires, and the film winning numerous accolades from the white establishment. Black people go as far as to telling ourselves to love the film because the white establishment found it to be exceptional filmmaking. Let the film have been limited to the black community's praise, only screening or even winning at American Black Film Festival, Urbanworld, or Pan-African Film Festival, etc., only to be distributed by Codeblack at 4 theaters or so, black people would've hated the movie... including Oprah. The film would've been accused of being stereotypical and degrading, which to some degree it is. Then you have the blacks that need to know you, maybe love you, in order to invest their time in helping you in some sort of way. It's never about business with these types. They limit themselves to their cliques and tell everyone else to go to hell. Of course, they're not immune to the seduction of the white establishment's approval. Get into Cannes and Sundance and even they will come around eventually, when it's too late of course. Let's not forget the crabs in the barrel, which is prevalent amongst blacks. So, if you're waiting for black people, then I hope you brought a lot to read and a thousand game apps on your I-Pad to play as you while away the time. You're in for the never ending wait in that waiting room. I say, get it where you can, doesn't matter the color.
Orville | November 19, 2012 11:19 PM
There are black people doing good in Hollywood trying to reach back and give back.
Well this is one of the reasons Tyler Perry really deserves more respect on Shadow and Act. The black snobs say Tyler is a terrible filmmaker and blah blah blah. However, Tyler is using his money to help blacks and other minorities in Hollywood get work! Tyler Perry also owns his own studio were he can consolidate his power. Shonda Rhimes is also doing her part if it wasn't for Shonda and her success there is no way in hell Hollywood would allow Kerry Washington a black actress to be the lead on a mainstream network with Scandal. So I tip my hat to Shonda and Tyler Perry they have done a lot for black entertainers in Hollywood. Oprah is another person that deserves respect if it wasn't for her Zora Neale Hurston's book Their Eyes Were Watching God would not be made into a successful television film. Oprah has also done a lot to help black female writers like Gloria Naylor, Alice Walker, Zora Neale Hurston to reach a wider audience with her telefilms ect.
Charles Judson | November 19, 2012 9:37 PM
If you want to investigate what's possible in the modern world of film finance, you need to look at companies like Relativity Media or Legendary Pictures. It's not the individuals, it's the companies that are most important. Dreamworks was started by 3 of the most powerful men in entertainment and only the animation side ever took off and was truly successful. The structure is just as important as the who. However, the Legendary Pictures side of the equation also means playing in the Wall Street sandbox and having to be just as wary of what the financial section of the newpapers are saying as much as what the Friday night box office returns were. In the current climate, what Robert Johnson is alluding to with the trillions floating around is true, it's how many of the newest players in Hollywood got into the game in the last 10 years. It's also true it's not going our way. However, how many folks are building anything that remotely resembles Relativity or Legendary. Part of it is due to systematic barriers. Part of it is just the hard truth that very few people of any hue are able to secure $500 million in equity financing. I would also look to see who are the distributors that are currently most successful, even on an indie scale. Most of the cats who took a film made for $20k, $100k or $1 million movies and turned them into a decent success have aged out because it's near impossible to get most films to $1 million theatrically in the current era. So is the future of Black film in examples like Cinetic and cross platforming? Or elsewhere? Is theatrical still even the dream we should be chasing? Lots to mull over and a number of questions to be answered and more that need to be raised.
Blackman | November 19, 2012 9:22 PM
This NEGATIVE so-called systemic Black behavior is a LEARNED pattern. If you check YOUR Black History, you will find that White folks pervasively undermined Blacks at every available opportunity. Nowdayz, even YOU PEOPLE, will not buy Black. Yet, you got the timidity to pass judgment on Rich Folks that are trying to Spread their LOVE. John Johnson is a SELLOUT. Moreover, Black Sports athletes are CONSISTENTLY being SWINDLED. Hell, WallStreet is a Casino and a racket. and to "truthaccordingtotorey.blogspot.com"
( I still however, do believe if you work hard on your dream, invest in yourself, the right folks will eventually hear about you! Here is a link to the blog I wrote today http://thetruthaccordingtotrey.blogspot.ca/2012/11/monday-motivation-money-talks.html), ....meritocracy is something that Black folks believe. It STILL IS about who you KNOW to help you over those HUGE obstacles that come so easily to White folks.
willie dynamite | November 19, 2012 5:59 PM
People, please stop with the delusions of grandeur regarding a film collective funded by wealthy blacks. Black folks have no solidarity and jump on something once it has obtained critical acclaim or popularity. The crabs in the bucket mentality has not left us. The biggest issue is that we have no mentorial infrastructure. Knowledge and resources are rarely passed down which forces every generation to start from scratch. Filmmakers, get your financing however you can!
jeni | November 19, 2012 3:09 PM
Good post. Aren't there any black venture capitalists out there investing in something other than IT?
Phil | November 19, 2012 2:37 PM
Courtney, can we not talk about how to spend Oprah and Tyler's money? It is a defeatist approach to solving the issue in front of us.
trey anthony da kink in my hair | November 19, 2012 12:52 PM
Funny enough I just wrote a blog about this same issue this morning, talking about investing in my own work and dreams.... I do think there is another money in "black hollywood" to make projects happen but the access to "black hollywood" is extremely hard for up and coming artists of color. I wish there was some sort of alliance or some sort of system created that could help independent artist gain access to those with power, money, and influence. I still however, do believe if you work hard on your dream, invest in yourself, the right folks will eventually hear about you! Here is a link to the blog I wrote today http://thetruthaccordingtotrey.blogspot.ca/2012/11/monday-motivation-money-talks.html
Rodney | November 19, 2012 12:21 PM
It could be argued that Michael Milken gave Reginald Lewis, the great black '80's entrepreneur, the financial backing to acquire Beatrice International, a deal that put Lewis on the map.
Interestingly enough, Lewis, was contemplating a run at Paramount Pictures. Unfortunately, he was diagnosed with brain cancer and passed away before he did anything about it.
Grizz | November 19, 2012 11:59 AM
The answer to your question is simple. Those rich Black folk with the power and resources to help another Black person make a project don't do it because they are scared, period. In your example of Lee Daniels, Oprah couldn't fund his film at that stage of the game because the perceived risk was too high, even though she probably liked it, she would back away and wait to see how it was received by White folk before investing. She would dread the notion she was putting money into black films that were not commercially successful and didn't a thumbs up from other rich White people. She is not concerned about making content just because African Americans are under represented in the media. They also lack vision; you build a demand for content by making good stuff, creating our own thing and they will come to you. Just like we did with Hip Hop.