Director YOLO'd $4M of Netflix budget into Dogecoin, made $27M: Report
Carl Erik Rinsch reportedly used nearly $11 million of his Netflix show’s budget to gamble with stocks and crypto and made millions on a single Dogecoin bet. The director of Netflix’s sci-fi series Conquest reportedly used $4 million from the show’s budget to bet on Dogecoin (DOGE) and made $27 million in the process. Now the director, Carl Erik Rinsch, wants another $14 million from Netflix, according to a Nov. 22 report in The New York Times citing a confidential arbitration proceeding. The Times report details the behind-the-scenes drama of Rinsch’s sci-fi Netflix series Conquest , which the streaming giant doled out $55 million to make, but is yet to receive an episode. In March 2020, 16 months after Netflix bought Rinsch’s idea and provided him with an initial budget of $44 million, the director asked for more funds. Netflix obliged and wired him $11 million on the condition he finished the show. According to financial statements obtained by the Times Rinsch used $10.5 million...