The Chapek Coup & The Adults at FTX

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Welcome to Dry Powder. I hope that you and your family are having a wonderful Thanksgiving holiday.

Before turning my attention below to Sam Bankman-Fried and FTX, which remains an irresistible story, I wanted to offer some insight on the Return of Bob Iger to Disney for a two-year stint to repair the company’s morale, strategic vision, and presumably purge the legacy of Bob Chapek.

Bill

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The Chapek Coup & The Adults at FTX

The insider conversation on the two seismic storylines roiling Wall Street this holiday season: the latest beats in the saga of S.B.F., and what to expect from the new Iger era.

WILLIAM D. COHAN

It’s unusual, of course, but there are some precedents for the return of Bob Iger to the corner office. Steve Jobs, as we know, had two stints at the helm of Apple, the second one coming after he had been kicked out. The wisdom of returning Jobs to the C-suite at Apple was legendarily brilliant. Apple’s luster was restored, although the real story behind Apple’s success lies with Jobs’ successor, Tim Cook, who has managed to increase the company’s market valuation from $300 billion to around $2.5 trillion. As my friend Scott Galloway likes to say, Cook has created more shareholder value than any single person in human history...

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