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It doesn't happen that way in the book, either (that's left to the sequels) but at least the novel has hundreds of pages of character study and well-paced intrigue to fall back on.
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While Golden Compass spends a great deal of time discussing the back story and mythology of the world - lots of talk about daemons, Dust, alethiometers, the vaguely religious body of the Magisterium, and a mysterious "war" on the horizon - nothing is actually ever resolved. I understand that the alternative is just to show Lyra staring at a compass like it was a graphing calculator, but these scenes were ridiculously bad, as if the director's 15-year old nephew got a copy of Adobe After Effects for his birthday and made them during study hall. At least five different times during the movie, the camera zooms into the clockwork innards of the compass, and we watch golden dust swirl around and random pictures appear.
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And speaking of low-budget CG, something else that could easily have been cut away are the scenes in which Lyra reads her alethiometer (the titular Compass, a glorified fortune-telling device).
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