In the opening sequence, Guy tells a legendary story of Shelley Winters arriving for an audition with her Academy Awards statuettes in a handbag. Guy says Winters pulls out three statuettes from her bag. In reality, Winters was nominated four times but won only twice. Best Supporting Actress for _Diary of Anne Frank, The (1959/I)_ and A Patch of Blue (1965).
Director George Huang was convinced to make this film by Robert Rodriguez. Huang used to work for Columbia Pictures, which acquired the distribution rights for Rodriguez' film El mariachi (1992) in 1991. The two met and Huang shared some of his would-be movie stories with Rodriguez, who - as documented in his memoir, "Rebel Without a Crew" - told Huang that he should simply "go out and make a movie." As such, Huang resigned from his position and set out to make this film.
The oft-referenced Foster Kane is an obvious reference to Citizen Kane (1941).
Buddy Ackerman's character was inspired by real life movie mogul Joel Silver. He's a famous producer Huang used to work for.
Guy's three cronies, Manny, Moe and Jack, are named after the Pep Boys (national automotive supplies chain).