Stargate Entertainment & A Meeting with Spielberg

By early 1981, James knew it was time to make his first real move into the film industry. With capital on hand and a vision in mind, he began searching for an opportunity to acquire a production company—one that was struggling but still had potential. After weeks of research, he found the perfect candidate: a small, nearly bankrupt production company that had been mismanaged and was on the verge of shutting down.

For just $100,000, James acquired the company and renamed it Stargate Entertainment. It was little more than a name at this stage, with no major assets or projects, but he had plans to change that. He didn't need it to be successful immediately—he needed it to be a foundation, a company he could build upon in the coming years.

As he worked on restructuring his new company, James heard rumors circulating through financial circles—Steven Spielberg's Amblin Entertainment was quietly seeking investors for a new film project. The film was still in development, but James immediately recognized it: E.T. the Extra-Terrestrial. The movie would become one of the biggest box office successes of all time.

This was an opportunity he couldn't ignore.

Through his financial advisor, James arranged a meeting between his mother and Spielberg himself. The meeting was framed as an introduction to a promising young investor, a child prodigy with an uncanny business sense. Spielberg, known for his openness to fresh talent, was intrigued enough to agree.

The meeting took place at a private lounge in Los Angeles. James and his mother arrived dressed formally, their presence carefully calculated to appear both serious and unassuming. Spielberg, a man already regarded as a visionary director, greeted them with curiosity.

"So, you're the young genius I've been hearing about," Spielberg said with a small smile as they sat down.

James met his gaze with calm confidence. "I like to think of myself as someone who recognizes potential when I see it. And E.T. has the potential to be the biggest film of the decade."

Spielberg raised an eyebrow, amused. "You sound very sure of yourself. What makes you so confident?"

"The story resonates," James replied smoothly. "It's emotional, it's adventurous, and it speaks to both children and adults. More importantly, it's a film that will endure. Years from now, people will still talk about it as a defining moment in cinema."

Spielberg studied James for a long moment before nodding. "Interesting perspective. And what exactly do you want?"

James leaned forward. "I want to invest. Two million dollars in exchange for 10% of the film's gross box office revenue."

Spielberg blinked, clearly surprised by the bold offer. "That's a serious investment. And why should I take it?"

James smiled. "Because I believe in this film, and I'm willing to take the risk. And because I want something else—a chance to audition for the lead role. No obligations, no special treatment. Just a fair shot."

Spielberg's eyes narrowed slightly, intrigued. "You don't seem like a kid who wants to act."

"I don't," James admitted. "I want to understand filmmaking from every angle. What better way to learn than by stepping into the process myself?"

Spielberg chuckled. "You're something else, kid. You know, my friend Ridley Scott is about to start filming Blade Runner. If you're really interested in understanding filmmaking, I can arrange for you to visit the set. It's one of the most ambitious productions going on right now—seeing it in action might teach you a thing or two."

He exchanged a glance with James' mother, who had remained silent but observant. "But you're really letting him make these kinds of decisions?"

She smiled. "He's smarter than most adults I know. And he's never been wrong so far."

Spielberg nodded slowly, impressed. "Alright, James. You've got a deal. Two million dollars for ten percent of E.T.'s gross earnings. And you'll get your audition. No promises beyond that."

James extended his hand. "That's all I ask."

They shook on it.

James couldn't believe it—he had secured his first major Hollywood investment, an audition, and now, a chance to observe one of the greatest sci-fi films of all time being made firsthand. His journey had truly begun.

James had just secured his first real step into Hollywood.