Thread by @Pappiness

Hi, all. I write jokes for TV, but not long ago I was a financial analyst. I had my Series 7.

For those who say Fran Drescher or any SAG-AFTRA member should stop whining and appreciate what they have, let me give you a lesson in capitalism. 🧵

The WGA and SAG-AFTRA are dealing mainly with publicly traded companies, companies that have a fiduciary responsibility to their shareholders.

Netflix, for example, has 88.21% of their shares held by institutional investors - banks, hedge funds, insurance companies, etc.

This morning, Netflix stock hit a 52-week high. They made institutional investors alone $106+ billion dollars this year.

$106 BILLION.

Fran Drescher, for her entire life, is worth $25 million.

It's easy to get mad at Ted Sarandos or David Zaslav or Bob Iger, but they get paid so much because their only job is to make rich people richer.

The WGA and SAG-AFTRA aren't fighting against rich CEOs. They're fighting against an entire system incentivized to exploit workers.

A-list actors get paid so much because they're worth it. Someone has done the math.

You don't have a poster of Bob Iger hanging up in your room. You don't binge watch a show with David Zaslav. You don't go to Comic Con to meet faceless billionaires.

You pay to see stars.

Not to mention that, in reality, 87% of SAG-AFTRA union members don't quality for health insurance.

How much do they have to make to qualify? $26,000 a year.

These are working class people, just like you.

The wealthiest 1% hold 53% of ALL stocks. The top 10% hold 88.6% of ALL stocks.

Every dollar these media companies don't give to a writer or actor, they hand to millionaires and billionaires.

When you say actors and writers are spoiled, you're on the wrong side of history.