The Book in 3 Sentences
Instead of fearing the new, embrace it by being courageous, innovating, and escaping the shackles of the status quo.
It is crucial to recognize one’s pitfalls and not be overly consumed by a position of influence.
Treat others with honesty, integrity, and confidence, for which they will deliver extraordinary results.
How I Discovered It
I believe it was one of Ali Abdaal’s book videos that provided a brief introduction to this particular book. Seeing that it was readily available on Libby, I immediately picked it up. The fact that it’s about Disney was also quite appealing.
How the Book Changed Me
This book has given me more clarity regarding Disney’s role in modern media and has drawn a distinction from big tech corporations. In fact, I might just have a newfound respect for them as a brand and a company. Learning about their artistic vision has motivated me to actually pick up Disney Plus and catch myself up on Star Wars and the Marvel Cinematic Universe. Moreover, Iger’s ideals of decency and integrity seem to contradict the broader message about power in 48 laws, so I’m also more contemplative regarding leadership.
Top Quotes
those instances in which you find yourself hoping that something will work without being able to convincingly explain to yourself how it will work - that’s when … you should walk yourself through some clarifying questions
long shots aren’t usually as long as they seem
People will often focus on little details as a way of making a lack of any clear, coherent, big thoughts
It’s easy to be optimistic when everyone is telling you you’re great. It’s much harder, and much more necessary, when your sense of yourself is on the line.
There’s no short-term gain that’s worth the long-term erosion of trust
What I learned
Disney’s Timeline
- Acquisition of ABC and ESPN
- Construction of the Disneyland in Shanghai begins
- Robert Iger takes over as CEO after Michael Eisner is asked to step down
- Partnership with Steve Jobs and Apple’s new video iPod
- Acquisition of what is now Disney-Pixar
- Acquisition of Marvel and Lucasfilms
- Purchase of BAMTech to create streaming services for Disney and ESPN
- Acquisition of Fox after an intense competition with NBC
Disney’s Journey
Robert Iger had 3 general tenets in turning around the company when he took over. Everything they did right generally falls into this roadmap.
Creating high quality branded content . The acquisition of ABC already brought live sports, news, and popular shows into Disney’s collection. In addition, Pixar and the talent that came with it helped revive animation. Marvel brought with a plethora of creative potential which turned into the MCU. Lucasfilms added the Star Wars trilogy and its fans, and a massive potential for expansion.
Embracing technology. This began when Iger sealed a deal with Jobs to house Disney’s content on the iTunes store that would ship on Apple’s new video iPods. Finally, they embraced the shift away from traditional cable to streaming platforms through Disney Plus. They will suffer losses for the platform’s first few years as the transition occurs, but it will pay off over the long term. And it displays courage.
Becoming a truly global company. The Fox acquisition provided access to major audiences around the globe, including India’s primary streaming service Hotstar. This expanded their direct-to-consumer business in key thriving markets throughout the world. Moreover, the completion of Shanghai’s Disneyland expanded their reach in the world’s most populous country.
Iger’s Leadership Framework
- Admitting mistakes and flaws
- Treating others with transparency, fairness, and empathy
- Integrity - knowing one’s self and having a clear moral compass
- Ability is more important than experience
- Taking risks; grant permission to fail
- Investing in things with high returns
- Maintaining stability and optimism at the top of a hierarchy
- Being prepared to hand the crown to a successor
- Leading with courage, not fear
- Eliminating guesswork and having clear goals
- Doing the homework
- Surrounding oneself with talented as well as decent individuals
- Recognizing the personal element in negotiations and deals
- Holding onto one’s self-awareness
This chart from Brene Brown’s interview with Biden on her podcast Unlocking Us perfectly categorizes Robert Iger’s ideologies that guided his tenure as Disney’s CEO. It stands in stark contrast to the ideas outlined in Robert Greene’s The 48 Laws of Power. Iger operates on mutual respect and transparency, rather than viewing his position through an aggressive lens like someone holding ‘Power Over’ would.