Between 2008 and 2011, Disney's cable networks segment — roughly three-quarters of which was ESPN — accounted for 60% of the entire company's operating income, over $5 billion in profit.
Where this was said
At 1:24:14 · chapter starts 1:21:26
The late 1990s and early 2000s were a study in strategic drift. Eisner made shrewd moves (declining AOL's merger overtures before the dot-com implosion wiped out Time Warner) and disastrous ones (acquiring Infoseek and creating a Disney Internet assets tracking stock at the peak of dot-com mania). Disney Animation continued its descent, releasing films so forgettable that an entire generation — anyone born after about 1990 — has no Disney film from their childhood like Aladdin or The Lion King. September 11th, 2001 brought an immediate crisis: parks business went to near-zero, consumer spending cratered, and the Bass family — Disney's largest shareholders and Eisner's strongest supporters — faced margin calls on other investments and sold a $2 billion block of Disney shares in a single transaction. Overnight, Eisner's shareholder support vanished. The stock had already been declining for years. Then Roy E. Disney, keeper of the Disney spirit, resigned from the board in November 2003 and launched Savedisney.com — a first-of-its-kind public grassroots shareholder campaign — calling on Eisner to resign. His resignation letter cited seven specific failures including the creative brain drain, micromanagement, destruction of the Pixar relationship, and lack of a succession plan. At Disney's March 2004 annual shareholder meeting — held, hilariously, in Philadelphia, Comcast's headquarters — 43% of shareholders withheld support from Eisner.
In 2004, Comcast launched a $54 billion hostile takeover bid for Disney — a cable company attempting to acquire the most storied entertainment brand in America.
An 85-year-old nursing home resident wants to spend $50,000 — a quarter of his entire $200,000 nest egg — flying 10 family members to the Holy Land.
An estimated $31.9 million worth of 401(k) balances have been abandoned by former employees and are sitting unclaimed.
Matt from Chicago paid off $72,000 in debt in 6 months by working 12-hour days, 7 days a week, then funded an emergency fund and pre-paid a Costa Rica vacation.
Matt continues working 80+ hours a week after becoming debt-free in order to pay off his house by age 40, against his fiancée's wishes.
Elizabeth and her husband in Nashville carry $180,000 in combined debt — $115K in student loans plus medical bills and a car — and just discovered she is 5 weeks pregnant with their second child while also having a 4-month-old.
Despite $180K in debt and a surprise pregnancy, Elizabeth's EveryDollar budget shows a $747.39 monthly surplus on top of minimum payments and living expenses.
Elizabeth and her husband earn $1,900 per month from side hustles — she does Lyft and house cleaning while he does additional gig work — on top of their regular income.
Gold has averaged approximately 7.8% annual return since 1971 when the U.S. dollar was untied from it, which George Kamel notes is lower than historical stock market returns.
George Kamel shared that he and his wife paid off their own home mortgage in 26 months — far ahead of their original 4-year goal.
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