The Ride of a Lifetime (Summary)
Minutes before announcing Disney's $7.4 billion acquisition of Pixar, Bob Iger made a terrified, last-minute phone call to Steve Jobs. He had to trust Jobs with a secret: if the deal went through, Jobs would become Disney's largest single shareholder. Bound by law, Iger asked for his trust. In return, Jobs confided a secret of his own, one he'd told almost no one: his pancreatic cancer had returned. In that moment, a multi-billion dollar corporate takeover became a profound pact between two people, built on a foundation of radical vulnerability.
Innovation is About People, Not Projects
Iger's core strategy was to acquire companies not for their intellectual property, but for their brilliant creative minds and cultures. He believed that empowering great storytellers was the only way to ensure Disney's future.
When Disney acquired Marvel for $4 billion, Wall Street was skeptical. But Iger wasn't just buying characters; he was buying Kevin Feige's vision for an interconnected cinematic universe. He gave Feige and his team unprecedented creative freedom, a bet that resulted in a franchise that has grossed over $25 billion and redefined modern blockbusters.
Disrupt Yourself Before Someone Else Does
Instead of fighting technological change, Iger argued for embracing it head-on, even if it meant cannibalizing existing, highly profitable businesses.
Iger pushed for the creation of Disney+, a direct-to-consumer streaming service, knowing it would threaten Disney's lucrative cable TV revenue and relationships with theaters and partners like Netflix. He famously stated it was better to be the "disruptor than the disrupted," a risky move that ultimately positioned Disney for the future of media.
Own Your Failures, Publicly and Quickly
When mistakes happen, a leader must accept blame without equivocation. This builds trust and creates a culture where people aren't afraid to take necessary risks.
Shortly after Iger became CEO, a tragic alligator attack occurred at a Disney World resort. Instead of letting the PR or legal teams handle it, Iger immediately called the grieving father to personally express his condolences and take full responsibility. He didn't make excuses or deflect blame, a moment of humanity that resonated deeply within and outside the company.
Nobody Wants to Follow a Pessimist
A leader's relentless optimism and decency are crucial for inspiring teams to take big risks and overcome immense challenges. This must be paired with genuine respect for people at all levels.
One of Iger's first acts as CEO-elect was to repair the deeply fractured relationship with Roy E. Disney (Walt's nephew), who had been pushed out by the previous regime. This gesture of respect, culminating in Roy being named Director Emeritus, sent a powerful message throughout the company that a new, more respectful and optimistic era had begun.
