I think that if the reigning powers had any great respect for good pictures or the people who could make them, that this respect was probably very well tempered by the somewhat cynical observation that poor and mediocre pictures might just as well prove successful as their pictures of higher value.
Television has changed this, completely, and I think that, despite the unhappy financial upheavel that it's caused in the movie industry, it is also provided a very invigorating and stimulating challenge which has made it necessary for films to be made with more sincerity and more daring.
If Hollywood lacks the color and excitement of its early days with Rolls-Royces and leopard-skin seat covers, I think on the other hand it provides the most exciting and stimulating atmosphere of opportunity and possibilities for young people today.