Most filmmakers talk about the budget. Far fewer understand the waterfall. That’s the order money gets paid back after a film earns revenue — distributor fees, expenses, investors, deferments, profit participants, and eventually the producer. If you’re raising money, you better know who gets paid, when, and from what bucket. Because the waterfall isn’t just finance. It’s investor trust. Full episode: Watch: https://youtu.be/9SPRmvx61vI Listen: https://www.podbean.com/eas/pb-epnxa-1aa90ce