The Wild West of 1980s Movie Financing

I’m joined by Peter M. Hoffman this week to discuss his new memoir, Karmic Winds, about his time in Hollywood as the tax lawyer who could figure out how to get movies financed and get people paid. Fans of 1980s action movies will recognize many of the names here, as Hoffman was a key figure in the Golan and Globus empire before becoming CEO of Carolco Pictures during their epic run of films that included Basic Instinct and Terminator 2. We also discussed the way tax laws helped—and then hindered—getting movies made, and Peter’s own unfortunate run-in with IRS authorities. If you want the full story, make sure to check out his book, which goes into much more detail than we had time for here.

This episode gets a bit in the weeds about tax law and the such, but I’d love to hear from folks about their favorite Carolco films. One that we touched on very briefly is Jacob’s Ladder, a movie I’ve always found fascinating in part because I don’t think it entirely works. Or at least, it didn’t for me … but Peter’s book highlights the ways in which the film reflects the Tibetan Book of the Dead, which may just be the key to unlocking it all. I’m excited to go back and revisit it with that idea in mind.

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