"All hits are flukes." Those are the words of movie producer Jeff Sagansky. He uttered them long ago while head of entertainment at CBS.
While television networks, cable channels, and increasingly internet companies (Amazon, Netflix) produce copious amounts of television content, they do so well aware that most of what they create will not only fail, but won't even make it to television, computer, or smartphone screens. While the world's best investors fail nearly as often as they succeed, television producers, like Silicon Valley venture capitalists, operate in an environment in which the vast majority of what they produce will go belly up.
