Sylvester Stallone told the "The Rest Is Entertainment" podcast that his long-standing rivalry with Arnold Schwarzenegger only concluded when Schwarzenegger transitioned into politics. Stallone noted that the two actors were "very confrontational" during the 1980s and 1990s as they both sought to lead the action film genre.

Stallone explained that while he did not originally want to be an action star, he viewed the genre as "modern mythology" similar to "The Iliad" and "The Odyssey." He stated that he recognized Schwarzenegger as a potential problem early on, recalling a moment at the Golden Globe Awards where Schwarzenegger gave him "stink eye" before winning an award. Stallone told the podcast, "Okay, all right. I got it, pal."

The competition involved a back-and-forth struggle for the title of top action star, with Stallone filming "Rambo" and Schwarzenegger filming "Commando." Stallone admitted he enjoyed the fact that they both liked "to challenge" one another.

Even when the two partnered on the Planet Hollywood restaurant chain in 1991, Stallone said they refused to share a stage for speeches. He stated the rivalry "wasn’t put to bed until 20 years later" when Schwarzenegger ran for governor of California. Stallone recalled meeting him at a cigar place and telling him, "Enough of this. We’re not in competition anymore." He thanked Schwarzenegger for "waking me up and lighting a fire under me," noting that Schwarzenegger felt the same way.

Stallone concluded that while they remain friendly, they are still competitive by nature, though they are no longer "financially competitive."