The Ride of a Lifetime
People apparently had high expectations for Robert “Bob” Iger and his business/CEO memoir “The Ride of a Lifetime.” I did too. I had some inexplicably good feeling about this book. And that’s why I made maximum effort to avoid reading any (both domestic and foreign) reviews of the book until I read it myself. Whenever I decide to review something, I try not to allow myself to fall under the influence (i.e., impressions) of others about something. I simply want to describe things as I experience them.
As for the book (hereafter I’ll use this term, so I don’t “walk” between the terms memoir/biography/business) “The Ride of a Lifetime”… I’m glad my feeling didn’t deceive me. 🙂
Generally there’s a certain (Balkan) attitude that all those who are at or near the top of some company’s hierarchy (CEO, CMD, COO, president, VP, Head manager, father-in-law, aunt, mom, boss Jova)… they have it easy, everything’s just right, unrealistic salaries, various benefits, private jets, parties, connections. As we know very well, we (Balkan peoples) have that natural talent of having answers and solutions for everything… for example, your neighbor Ljubomir might work as acting deputy assistant collaborator to the assistant head chef at the local restaurant (because his father-in-law owns that same restaurant) and is an expert on the German third league at the local betting shop, but he “verifiably” knows how to run the national team, how to solve the political situation in the country (and why not the region, and he’d certainly have some advice to give Biden or Merkel), verifiably knows the composition of all vaccines and where the money from the last three tenders went. Come on, if you gave him the position of CEO of “Walt Disney” at the moment when the company was in a major crisis… he’d fix everything in, bro to bro, six months maximum, right?
On the other hand, if you asked the average Balkan CEO (for average CEO we consider people who have some concrete education, really work hard, are honest and survive without the influx of political or criminal circles and arrangements and have at least 50 employees… so some… counts on fingers… some 17 CEOs) to take over “Walt Disney” during a crisis, I wouldn’t rule out that 90% of them would immediately break into sweat and ask questions like “but do I really have to…”, “surely I can write any amount for salary…” and “so, you guarantee me that private healthcare includes ANY PSYCHIATRIST AND PSYCHOTHERAPIST OF MY CHOICE REGARDLESS OF PRICE…”
We joked a bit, now let’s get serious…
Before coming to the head of “Disney,” Robert will first take us through his beginnings at “ABC” company, where he started working in 1974, from the very bottom of the hierarchical ladder (as studio supervisor… arrives first, leaves last from work). He worked hard and learned from people around him, so some 10 years later he worked his way up to the position of vice president of “ABC Sports.” And just at that moment “ABC” was sold for 3.5 billion dollars to “Capital Cities Communications” company. Of course, takeover by another company is never a painless process. Various changes happen, employees worry about being left without a job or being left without advancement opportunities. Robert was quite “torn,” but still agreed to stay in the company, and later became president of “ABC Entertainment,” within the newly formed “Cap Cities/ABC” company.
Soon 1995 arrived, when “Disney” (headed by Michael Eisner, who had been running the company since 1984) showed interest in buying “Cap Cities/ABC,” which happened in 1996 (purchase value – 19 billion dollars). Robert Iger already had a fine reputation as president at “Cap Cities/ABC” and Michael Eisner intended to keep Robert at “Disney” at any cost. And so already in 1999 Robert became Disney’s second man and worked closely with Michael.
However, Disney’s board in the following years became increasingly dissatisfied with Michael Eisner’s work, and finally, in the mid-first decade of the 21st century, they’d had enough. Michael had to go, and someone from outside had to come, capable of innovation and business. The only candidate within the company was precisely Robert, but was the board ready to give trust to a man who was the right hand for five years to the person they just “chased out”?
After much wrangling, it was decided that Robert Iger would become CEO of “Disney.” A position he held (quite successfully) for the next 15 years.
And if until that 2005 it was Robert’s bumpy rise, from that moment his real “ride of a lifetime” started, a real roller coaster.
From the very beginning Robert had to grapple with numerous challenges. Not only was he now responsible for an entire army of employees (according to a 2019 report, 223,000 people worked for “Disney”), but he had to drastically “refresh” the company, which had fallen into crisis. His predecessor, Michael Eisner, really managed to pull “Disney” out of the mud and make it a dominant media power in the 90s, but it seems Michael’s (somewhat arrogant) nature and mild paranoia couldn’t carry “Disney” into the 21st century (which was especially evident in the company’s financial state).
Robert had to have a different approach. Wiser, more tactical, braver… and riskier.
And he succeeded. Thanks to Robert’s business moves, “Walt Disney” became the powerful media-entertainment force we know today.
He reconciled “Disney” and “Pixar.” He became good friends with Steve Jobs (unlike the relationship between Eisner and Jobs, which was, to put it mildly, hostile). He managed to convince Jobs to sell him “Pixar” (which was considered an impossible mission), and thereby managed to bring “Disney Animation” back to life (until then “Pixar” had convincingly dominated in film quality), and Jobs became part of the board.
Ike Perlmutter was a mysterious man and tough nut, who was quite attached to his company. However, Robert Iger believed in the inexhaustible potential that would come from acquiring Ike’s company. In summer 2009, Robert succeeded in his intention. The superhero “Marvel” was bought for 4.24 billion dollars.
During 2011 he laid the foundations, and in 2016 opened the huge Disney resort in Shanghai.
Though George Lucas knew it was easier for him to give up both kidneys than his “LucasFilm” empire, he was still worried who would preserve his “Star Wars” legacy. Though this was a risky move, Robert and “Disney,” after quite a bit of wrangling, managed to snatch “LucasFilm” for 4.05 billion dollars. The “Star Wars” franchise was theirs.
And it’s not that the ordinary or business world (and especially regulatory bodies) wasn’t carefully watching the battle between “Disney” and “Comcast” over taking over “FOX” company (21st Century Fox). In this tense and exhausting process, “Disney” somehow won. They bought “FOX” for 71.3 billion dollars.
Successful acquisitions, transformations of various processes within the company itself, introduction of new technologies and profit growth, enabled the (now 70-year-old) Bob to slowly withdraw from Disney’s leadership and focus more on board work, creative processes and advisory role (no, it’s not that the board wanted to chase him out, it seems the man himself assessed it’s best to withdraw while at the top), and after that he can find animation in some other company or start his own, and he can also enjoy retirement (after all, according to some estimates, Bob is now “worth” around 400 million dollars).
Now, is “The Ride of a Lifetime” nothing but Bob Iger’s bragging about what he bought with “Disney’s” money and how he’s therefore a very cool guy?
Far from it.
Here I’ve presented only some facts about Bob Iger that you can find on the internet too.
The significance of the book “The Ride of a Lifetime” lies in some other things written in it.
Like Bob’s view of some people he worked with, from whom he learned the trade, with whom he was in conflicts, from whom he learned some important business (and life) lessons, like Roone Arledge, Michael Eisner, Peter Murphy, Michael Ovitz, Rupert Murdoch, Steve Jobs, George Lucas and many others.
Or series, films, animated titles, quizzes, documentaries and sports events to which Bob, during his work both at “ABC” and “Disney,” gave “green light” for realization… some of which achieved great success, some average, and some were quite disappointing and Bob had to bear responsibility.
There are also stories where Bob had to balance between different teams, boards of directors and many influential people.
And acquisitions of “Pixar,” “Marvel” or “LucasFilm” weren’t honey and milk either. Bob had to find ways to subtly and tactically incorporate these companies into “Disney,” so that they don’t feel “swallowed” or just another item in “Disney’s” portfolio, but still have a certain degree of independence in their work and retain their small “company cultures”… and on the other hand keep the board calm. Because acquisition of large companies doesn’t automatically mean profit, but (at first) also financial loss and great risk, because if you don’t soon have successful projects, things can only go downhill. And “Disneylands” aren’t exactly cheap to maintain, right? 😀
Bob had to make both good and difficult business decisions concerning employees. To fire those who caused problems, to give some the opportunity to leave the company with dignity, and to encourage and promote some. To make official statements both celebrating successes and criticizing inappropriate behaviors.
He thought at one point about a more serious career in politics (maybe it was wiser that he abandoned that idea).
He had to find ways to balance between “ABC” and “Disney” and his family life (it wasn’t easy for him).
But one of Bob Iger’s most important tasks was to find ways to modernize “Disney.”
Looking at where “Disney” is today, I’d say Bob did a good job, right? 🙂 I think the finance department (with the whole board) would agree with this (during Bob’s “reign,” Disney’s value jumped from 47 to 257 billion dollars).
“The Ride of a Lifetime” is quite well and quality written, yet simply written book, that reads easily and quickly. What’s especially interesting is that you have the feeling (or at least I experienced it that way) that Bob wrote this book without excessive influx of his Ego and need for bragging. Although written personally (logically), it has quite a dose of, so to speak, “neutrality” or better said objectivity, especially for the period when Bob was at “ABC” and the early years of “Disney.” I could perhaps attribute that to Bob’s modest nature, to the fact he worked quite a stressful job, and that enough years have passed that now, from some time distance, he can more objectively assess both his own (good and bad) actions and the actions of his collaborators.
What I can advise you is to keep a pencil or some marker with you while reading “The Ride of a Lifetime.” Bob didn’t bore with excessive “spillage” of his wisdom, but you’ll encounter parts where he shared his positions on how to lead yourself and others in some situations (leadership in the true sense of the word). What’s interesting is that Bob at the end of the book (in the chapter “Appendix”) literally extracted those same short passages with his positions that are already in the book (I think I’d already underlined them all in previous chapters, so it was a bit comical situation for me). They’re really “worth their weight in gold” because they summarize some of his almost 45 years of experience… and he made it easier for you by not having to search for them throughout the book. 😀
When I finished reading, I looked at how Bob’s “The Ride of a Lifetime” is rated. It seems the vast majority of people really liked it. Pure five stars on Amazon, even 4.41/5 on Goodreads (which is otherwise quite harsh in ratings), on Audible 4.8/5, Bill Gates recommends this book… I’d say these are quite nice ratings (I really don’t believe all two hundred and some thousand Disney employees rushed to these sites to deliberately give fives :D).
“The Ride of a Lifetime” really deserves absolute recommendation. Excellent business book full of useful lessons, permeated with the author’s modest tone. Regardless of whether you’re at the beginning of your career, or already have work experience behind you, lead a team of five or 55,000 people, this is a book you should have in your library.
Bob is the man during whose management “Disney” spawned hits like “Cars,” “Ratatouille,” “WALL-E,” “Up,” “Toy Story 3,” “Toy Story 4,” “Monster University,” “Frozen,” “Inside Out,” “Zootopia,” “Coco,” “The Lion King (2019)”… and there are new Star Wars and “Marvel” films… and let’s not forget the phenomenal series “The Mandalorian.” And of course, their newest (powerful) child – Disney+.
Bob would have something smart to tell us, right? 🙂
And you, dear reader, how do you experience Bob’s “ride of a lifetime”? 🙂
“Walt Disney” company website
Bob Iger’s corporate biography
Book price: Finesa | Vulkan | Delfi
Ratings (and purchase) on foreign sites: Goodreads | Amazon | Bookdepository | Audible | Waterstones | Penguin Random House
