The Sunglasses Billionaire Who Got Hollywood to Leave Film Behind

This was written by Efosa Osaghae and originally published in The Rough Cut by Eddie AI. Click here for the full essay. What would you say if we told you that one of the most influential camera companies of all time—RED—wasn’t just created by a Hollywood outsider, but by someone with zero film experience at all?Nearly 20 years ago, Jim Jannard, the billionaire founder of Oakley (yep, the sunglasses brand), and his team of industry bandits changed cinema forever. And hardly anyone knows what really happened behind the scenes...An exit from Oakley and the start of a new frontierThere are a few key dates we need to establish from Jim Jannard’s career:He founded Oakley in 1976 — naming the company after his English setter, he took his first steps in business by selling motorcycle parts out of his van. In the 1980s, Jannard turned his attention to sports equipment, apparel, and the sunglasses Oakley is famous for today.By 1995, Oakley had gone public, raising $230 million in the process.And lastly, in 2007, Jim sold the company for $2.1 billion to Italian eyewear manufacturer Luxottica. Somewhere between Oakley’s IPO and its eventual sale, Jim started looking to the next frontier. As a bonafide camera nut, ideas man, and entrepreneur, he set himself a new target:Create the world’s most powerful (digital) cinema camera. “Insane.” “Crazy.” “Stupid.” These were the words lobbied at Jannard when he first spoke of his dream — and they weren’t exactly wrong. Film cameras had a 95% share of the cinema market at the time, while digital hovered around 5% at best. Jim seemed to be dreaming up the impossible, but that didn’t stop him.The Heist (or making the impossible, possible)The objective: Creating an impossible digital camera — comparable in image quality to film but for a lower price and in a smaller size. The target: Making digital the dominant mode of Hollywood filmmaking.Chances of pulling it off? Next to nil, until...Frederic Lumière (of no relation to the Lumière brothers) was a camera enthusiast and IT expert who created Lumière HD: the first plugin to allow users to edit HDV. His software provided a simple, feature-rich high-definition video editing tool intended for the low-budget filmmaker. Courtesy of Frederic LumiereLumière HD had built a legion of supporters after years of exhibiting their products within the tech world. Their supporters included Apple, Sony, JVC, and one eccentric, idealistic billionaire...Phase 1: The billion-dollar email"I was helping out with IT support for Lumière HD, and one day I got this email", Fred explains.Sliding into DMs ‘04 style (email recreated based on our interview with Fred)Jim and Fred continued to chat over email for the next few days. "What started as a support chat escalated into a discussion of crazy ideas. It was relentless."Like Jim, Fred dreamt of creating a camera that could rival analog. After all, a movie shot on an ARRIFLEX 35II made in 1960 could still provide a great image 60 years later. Why couldn't digital do the same? "If you're interested, I would love to partner with you to build this camera. Give me a budget on how much you think it would cost," said Jim, before asking Fred to meet him — the very next day.Jim lived in southern California, and Fred lived on the East Coast. A good 3,000 miles separated the pair, but the following morning, Fred was on the next flight out. Little did he know he was about to embark on the greatest heist in cinema history.Phase 2: Assembling the O-TeamFred arrives in California and gives Jim a figure. The figure was the budget to undertake the entire project from start to finish: camera development costs, costs of the crew, everything. It was a large number, but Jim wasn’t expecting to hear a small sum. The deal was agreed. Despite the emails, Fred flying cross-country, and meeting Jim in person, it still didn't seem real. The next day Fred's wife — who was the CFO of Lumière HD at the time — called Fred and said, "Honey, we've just received a sh*t ton of money, do you know about this?" Jim had sent the money straight to the company account. No contract. No invoice. Just sent... And so the job began. RED started as O-Cam. The O stood for Oakley. The task was simple on paper: to create a digital camera that would not only compete with film but render it obsolete. The only way to steal film’s Hollywood customers was to ensure that digital was the hands-down better option. So who were they up against? For the full essay, check out The Rough Cut by Eddie AI. Every week, they break down the craft of video editing and filmmaking—what’s new, what’s next, and what’s worth remembering.

Mar 21, 2025 - 02:19

The Sunglasses Billionaire Who Got Hollywood to Leave Film Behind

This was written by Efosa Osaghae and originally published in The Rough Cut by Eddie AI. Click here for the full essay.

What would you say if we told you that one of the most influential camera companies of all time—RED—wasn’t just created by a Hollywood outsider, but by someone with zero film experience at all?

Nearly 20 years ago, Jim Jannard, the billionaire founder of Oakley (yep, the sunglasses brand), and his team of industry bandits changed cinema forever. And hardly anyone knows what really happened behind the scenes...

An exit from Oakley and the start of a new frontier

There are a few key dates we need to establish from Jim Jannard’s career:

He founded Oakley in 1976 — naming the company after his English setter, he took his first steps in business by selling motorcycle parts out of his van.
In the 1980s, Jannard turned his attention to sports equipment, apparel, and the sunglasses Oakley is famous for today.
By 1995, Oakley had gone public, raising $230 million in the process.
And lastly, in 2007, Jim sold the company for $2.1 billion to Italian eyewear manufacturer Luxottica.

Somewhere between Oakley’s IPO and its eventual sale, Jim started looking to the next frontier. As a bonafide camera nut, ideas man, and entrepreneur, he set himself a new target:

Create the world’s most powerful (digital) cinema camera.

“Insane.” “Crazy.” “Stupid.” These were the words lobbied at Jannard when he first spoke of his dream — and they weren’t exactly wrong. Film cameras had a 95% share of the cinema market at the time, while digital hovered around 5% at best.

Jim seemed to be dreaming up the impossible, but that didn’t stop him.

The Heist (or making the impossible, possible)

The objective: Creating an impossible digital camera — comparable in image quality to film but for a lower price and in a smaller size.
The target: Making digital the dominant mode of Hollywood filmmaking.
Chances of pulling it off? Next to nil, until...

Frederic Lumière (of no relation to the Lumière brothers) was a camera enthusiast and IT expert who created Lumière HD: the first plugin to allow users to edit HDV. His software provided a simple, feature-rich high-definition video editing tool intended for the low-budget filmmaker.

Courtesy of Frederic Lumiere

Lumière HD had built a legion of supporters after years of exhibiting their products within the tech world. Their supporters included Apple, Sony, JVC, and one eccentric, idealistic billionaire...

Phase 1: The billion-dollar email

"I was helping out with IT support for Lumière HD, and one day I got this email", Fred explains.

Sliding into DMs ‘04 style (email recreated based on our interview with Fred)

Jim and Fred continued to chat over email for the next few days. "What started as a support chat escalated into a discussion of crazy ideas. It was relentless."

Like Jim, Fred dreamt of creating a camera that could rival analog. After all, a movie shot on an ARRIFLEX 35II made in 1960 could still provide a great image 60 years later. Why couldn't digital do the same?

"If you're interested, I would love to partner with you to build this camera. Give me a budget on how much you think it would cost," said Jim, before asking Fred to meet him — the very next day.

Jim lived in southern California, and Fred lived on the East Coast. A good 3,000 miles separated the pair, but the following morning, Fred was on the next flight out. Little did he know he was about to embark on the greatest heist in cinema history.

Phase 2: Assembling the O-Team

Fred arrives in California and gives Jim a figure.

The figure was the budget to undertake the entire project from start to finish: camera development costs, costs of the crew, everything.

It was a large number, but Jim wasn’t expecting to hear a small sum. The deal was agreed.

Despite the emails, Fred flying cross-country, and meeting Jim in person, it still didn't seem real. The next day Fred's wife — who was the CFO of Lumière HD at the time — called Fred and said, "Honey, we've just received a sh*t ton of money, do you know about this?"

Jim had sent the money straight to the company account. No contract. No invoice. Just sent...

And so the job began.

RED started as O-Cam. The O stood for Oakley.

The task was simple on paper: to create a digital camera that would not only compete with film but render it obsolete. The only way to steal film’s Hollywood customers was to ensure that digital was the hands-down better option.

So who were they up against?

For the full essay, check out The Rough Cut by Eddie AI. Every week, they break down the craft of video editing and filmmaking—what’s new, what’s next, and what’s worth remembering.