Jandy pointed to these observations about Pixar and Disney animation.

This might not bother all the socialists who come read my reactionary posts, but I have a problem explaining a series of misreadings of the market as simply a case of “those people” being blind to reality. I think there has to be an institutional explanation for calling Wallace & Gromit a “failure.”

So here’s my total guess: it is (mostly) the stock market’s fault. What if places like Pixar and Disney are attracting investment on the basis of building up expectations of a series of spectacular successes? What if, for whatever reason, their business model depends on maintaining highly valued stock based on these expectations. In that case, maybe merely making a profit isn’t enough. It must be a spectacular profit.

I have no idea if that makes sense. I simply don’t know enough about how things work to have any certainty.