It’s new to me, at least.
Hollywood appears to have peaked. If it were an ordinary industry (film cameras, say, or typewriters), it could look forward to a couple decades of peaceful decline. But this is not an ordinary industry. The people who run it are so mean and so politically connected that they could do a lot of damage to civil liberties and the world economy on the way down. It would therefore be a good thing if competitors hastened their demise.
I’m a cynic and a curmudgeon…but I can’t fault their reasoning. The question is not whether highly innovative competition can kill Hollywood, because it obviously can. The determining factors are whether the truly innovative artists will side with them (I think they will) and whether the old hands can effectively destroy them with litigation.
From my perspective, Y Combinator’s idea has a pretty good chance of succeeding. They have the motive, the means, and the gumption. All they need now is luck.