Hulu is trying its hand at Less Than Zero . The streamer is developing a drama based on author Bret Easton Ellis' 1985 novel and subsequent 1987 feature film. The reboot, which is in development, follows a college freshman who returns home for Christmas to spend time with his ex-girlfriend and his friend who struggles with addiction. The Hulu take will explore the culture of wealthy, decadent youth in Los Angeles. Andrew McCarthy starred in the '87 feature film opposite Robert Downey Jr., Jami Gertz and James Spader , with Harley Peyton adapting Ellis' book; 20th Century Fox owns rights to the franchise and distributed the feature. Ellis' book, named after the Elvis Costello song, explored themes of nihilism, with the author credited with helping to create a new culture of celebrity with figures like Paris Hilton and the Kardashians. As Hulu searches for its next water-cooler hit following The Handmaid's Tale, the streamer is also developing a take on a