A project is identified; a team is assembled; it works together for precisely as long as is needed to complete the task; then the team disbands.
This short-term, project-based business structure is an alternative to the corporate model, in which capital is spent up front to build a business, which then hires workers for long-term, open-ended jobs that can last for years, even a lifetime.
It’s also distinct from the Uber-style “gig economy,” which is designed to take care of extremely short-term tasks, manageable by one person.
With the Hollywood model, ad hoc teams carry out projects that are large and complex, requiring many different people with complementary skills. The Hollywood model is now used to build bridges, design apps or start restaurants.
Our economy is in the midst of a grand shift toward the Hollywood model.
Read the rest – what is good and what is less good in the Hollywood model – in this New York Times Magazine article.