Dive into the controversial PBD Podcast episode where host Patrick Bet-David engages in a compelling dialogue with Gina Carano, Vincent Oshana, and Thomas Ellsworth, exploring the intersection of entertainment and activism. Get an inside look as Carano, the former Mandalorian star, recounts her firing from Lucasfilm/Disney due to her outspoken social media presence, which culminated in a tweet comparing societal polarization to the events of the Holocaust. This episode delves into the complexities of free expression in Hollywood and the consequences faced by Carano, who refused to curb her online rhetoric despite company pressures, ultimately leading to a fallout that rippled across the industry with co-stars publicly supporting her.
The PBD Podcast further examines Gina Carano's ensuing lawsuit against Disney, covering the intricacies of her legal battle and the broader cultural implications. With Elon Musk's indirect financial backing, her fight against the media giant isn't just for personal vindication but aims to challenge corporate practices and advocate for change. The episode also casts a critical eye on Disney's current tribulations, from significant market cap shrinkage to leadership crises, shareholder unease, and internal criticism towards creative directions. Through this in-depth conversation, the PBD Podcast illustrates a corporation at a crossroads and an individual's stance against the tides of 'cancel culture.'
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Gina Carano's firing from Lucasfilm/Disney triggered extensive debate, primarily due to her social media activities. In 2020, Carano began expressing her concerns over lockdown enforcement inconsistencies on social media, sympathizing with struggling small businesses during the protests. Her change of heart from initial support of COVID precautions and the Black Lives Matter movement was significant as she began advocating for the reopening of businesses. Carano's controversial tweet, comparing current societal polarization to the events leading up to the Holocaust, is cited as the precipitating factor for her firing. Despite Lucasfilm's requests for her to modify her social media behavior, including unfollowing certain YouTube critics and altering her posts, Carano maintained her stance on free speech.
Her subsequent firing was not communicated to her directly by Disney; instead, she learned of it through other means. A statement from Lucasfilm labeled her posts as "abhorrent and unacceptable," raising questions about who at Disney sanctioned this statement. After her firing, support emerged from co-stars such as Bill Burr, Pedro Pascal, and Carl Weathers, who indicated disagreement with her termination.
Gina Carano's lawsuit against Disney has gained attention, especially with Elon Musk's indirect role in funding it through an entity previously related to him. Carano's legal battle focuses on uncovering those responsible for deciding her contract termination and who authorized the public statement. Through the lawsuit, Carano is intent on uncovering the decision-making details and aiming to spur change within Disney's treatment of employees. By shedding light on internal practices, she hopes to reach a legal resolution, seeking a minimum of $75,000 in damages and expressing a desire to return to her former role.
Disney is grappling with severe financial issues and leadership challenges. The company's market cap has significantly decreased from $341 billion to $201 billion since Carano's firing. This downward trend is concerning for investors, given Disney's 41% stock value drop over three years. Attempts to reverse the decline, including a dividend increase and a share buyback plan, have not alleviated shareholder worries, especially in the absence of reassuring financial results. Disney's forward-looking $60 billion investment in parks and cruises also meets skepticism given the recent performance.
Investor confidence in Disney's leadership is eroding with criticisms aimed at the company's entertainment direction and the handling of grievances from heavyweight investors. The resistance to board nominations from investors like the Trion Group and the Blackwells hints at a leadership averse to change, even as key figures like Sean Bailey depart. Former executives like Jay Rosullo openly criticize Disney's lack of strategy, accusing the board of disregarding the traditional family customer base and placating shareholders with financial maneuvers rather than substantial transformation. Critics also question the leadership's handling of internal creatives, pointing to Kathleen Kennedy's controversial creative direction as a cause for concern.
1-Page Summary
Gina Carano's termination from Lucasfilm/Disney was a result of a series of events predominantly centered around her social media activity.
In 2020, Carano began to express her concerns on social media regarding the inconsistencies she observed in the enforcement of lockdowns, empathizing with small businesses suffering during this time. Particularly during the protests that year, she was critical of the lack of enforcement of COVID-19 guidelines against large protests, while small businesses faced restrictions.
Carano was initially supportive of COVID precautions and the Black Lives Matter movement, posting a black square on Instagram. However, her perspective changed as she sympathized with small businesses impacted during the protests, and she even advocated for the reopening of businesses. Carano mentioned on social media that if people could protest, then they should also be able to open up their businesses.
It was her controversial tweet comparing the current societal polarization to the demonization preceding the Holocaust that Carano cites as the final factor leading to her firing. In the tweet, she intended to express concern over the treatment of people based on political views and the dangerous path of demonizing neighbors.
Lucasfilm's requests for Carano to modify her social media behavior included asking her to unfollow certain YouTube critics critical of the new Star Wars movies and Disney, as well as to change her posts. Despite the pressure, Carano chose not to comply with these requests, citing her freedom on social media and disagreeing with the company's characterization of the YouTubers as problematic.
Carano's tweet about the demonization and polarization in society being comparably dangerous to that faced by Jews before the Holocaust created backlash which she did not anticipate. She clarified that her intention was not to belittle the Holocaust but to caution against how demonization of political views could lead to a "bad place."
Key Topic 1: Gina Carano's Firing from Lucasfilm/Disney
Concerning Gina Carano's legal action against Disney, the involvement of Elon Musk and the objectives of the lawsuit are prominent aspects of the discourse.
Elon Musk's indirect support for Gina Carano has brought a significant turn of events in her legal battle against Disney. An entity once related to Musk has been funding Carano's lawsuit, which she has expressed helps alleviate the sense of shame tied to her firing.
Gina Carano, through her lawsuit, seeks to engage in a comprehensive legal discovery process to uncover the specific individuals at Lucasfilm who were involved in the decision to sever her relationship with the company and to authorize the public statement regarding her termination. Ellsworth points out that legal proceedings may bring to light internal communications pertinent to Carano’s ...
Key Topic 2: Gina's Lawsuit Against Disney
Financial issues and leadership challenges pose significant problems for Disney, leading to shareholder concerns and criticisms.
Disney is currently facing severe financial struggles. From its peak valuation of $341 billion around the time of Gina Carano's firing in February 2021, Disney's market cap plummeted to $201 billion. This dramatic loss of $140 billion reflects the depth of their financial woes. Thomas Ellsworth highlights that investors who bought Disney stock five years ago are now facing a 5% loss, while Patrick Bet-David shares that Disney has accumulated roughly a billion dollars in losses from flops in 2023 alone.
Over the past three years, Disney's stock value has dropped by 41%, which is alarming for investors who have seen a significant decrease in their assets' value. In an attempt to combat this, Disney is planning financial recovery strategies, including raising their dividend by 50% and buying back $3 billion of shares in hopes of boosting share value. Despite these measures, concerns persist, as there were no significant updates about box office results to generate excitement around Disney's financial performance.
Disney has ambitious plans for a $60 billion investment over the next decade in theme parks and cruise ships. However, the absence of strategies addressing their movie flops and losses in the shareholder letter, as well as the general lack of positive financial news, casts doubts on the efficacy of these future projects.
Investor confidence in Disney's leadership is waning, as evidenced by pointed criticisms regarding the company's entertainment direction. Heavyweight investors like the Trion Group with Nelson Pels and the Blackwells have gone so far as to propose nominating their own candidates to Disney's board of directors. However, Disney's board has rebuffed these suggestions, labeling the nominees as unqualified and arguing they would not aid in value creation for the company.
The departure of Sean Bailey, who had overseen live-action movies for Disney, hints at possible changes in leadership and strategy, amidst growing discontent about Disney's future direction. Investors and former executives, including Jay Rosullo, a ...
Key Topic 3: Problems at Disney Currently
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