Actress Michelle Pfeiffer recently placed her hand and footprints in cement at the TCL Chinese Theatre in Los Angeles, marking a notable moment in Hollywood. However, Pfeiffer has expressed concern about the future of Los Angeles as a center for the television and film industry. She emphasized the need to reinstate tax incentives to attract productions back to the city, highlighting that financial considerations heavily influence where productions are made. Senator Adam Schiff has supported this view, advocating for federal tax incentives to help retain the industry in the United States. California state representatives, including Rep. Friedman, are also pushing for policies that prioritize Los Angeles as the preferred location for film and TV production, citing the importance of the creative economy and jobs for local residents. Currently, about 80% of U.S. film and TV production occurs outside California, raising alarms about the decline of Hollywood's prominence. Industry observers and commentators have described the situation as a potential crisis, with some questioning whether Hollywood is in a 'death spiral.'