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Edward Saatchi, the C.E.O. of Fable Studio, recently told me about a “minor problem” that had been bugging him. His company, the A.I. startup behind Showrunner—the technology responsible for those A.I.-generated episodes of South Park that went viral during the 2023 Hollywood strikes—had just closed a new round of funding led by Amazon. And, Saatchi disclosed, he was hoping to launch an entirely new content platform that would eventually become the “Netflix of A.I.”—his words, not mine. But, he conceded, “we have no idea whether anyone wants what I’m describing.”