Michael Milken

Are Creative Risks Worth Taking?

Animation has always had a strong creative streak with plenty of variety to it. If you didn’t like that Walt Disney was chasing realism, all you had to do was look across town to the Warner guys on Termite Terrace and see cutting edge character comedy in full flow. Today is no different; while major studios have become increasingly bland in their offerings, there are plenty of others taking up the creative mantle. Is what they’re doing worth the effort and risk involved?

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Applying Milken’s Junk Bond Theory To Animation

Michael Milken made a fortune with junk bonds back in the 1980s. His theory was so simple, it was almost too good to be true except that it wasn’t. Basically, a junk bond is one that carries a high risk of default, i.e. the borrower doesn’t pay you back. Milken however, perceived that if you buy enough junk bonds, the ones that do pay you back will more than cover the losses from those that don’t. His plan worked far beyond his expectations and he quickly became the so-called ‘Junk Bond King’ before being brought down for some insider trading.

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