Good Morning. After a disastrous 2020 succession, Disney finally named its new CEO. The choice reveals where the company's real money comes from.
We also share a Ceasar salad quesadilla, ways to boost your dopamine baseline, and this year’s Best in Show (forwarded this email? Join 523K readers).
TOP STORY TODAY
Disney’s New CEO
Disney appointed Josh D'Amaro as its new CEO, effective March 18. The 54-year-old theme parks chairman becomes Disney's ninth leader in 102 years, succeeding Bob Iger. Dana Walden, who competed for the position, was named president and chief creative officer. Disney shares were roughly flat following the announcement.
D'Amaro (interview) spent 28 years at Disney, primarily in theme parks and experiences. That division now generates 38% of company revenue and 57% of operating income. Disney plans $60 billion in parks and cruise investments through 2033, its largest such commitment ever.
Board Chairman James Gorman led the succession process after Disney's 2020 CEO transition failed (Bob Chapek was removed after two years). Iger returns as senior adviser through December 2026. Disney stock remains nearly 50% below its 2021 peak. History of Disney CEOs.
AI Fears Sink Software
Fears that AI will disrupt software companies erased roughly $300 billion in market value Tuesday. Stocks fell after Anthropic announced new legal automation tools for its Cowork assistant. Thomson Reuters dropped 15.83%, Legal Zoom fell 19.68%, while PayPal and Expedia declined more than 15% each.
The selloff spread beyond software makers to private-equity firms heavily invested in the sector. Ares Management, KKR, and Blue Owl Capital each fell over 9%. Software represents about 20% of business development company investments, up from 10% in 2016 (WSJ).
Investors question whether AI advancements from companies like Anthropic and OpenAI will erode software firms' competitive advantages. The tech-heavy Nasdaq fell 1.4% Tuesday. Software companies argue their platforms offer more than just code, but investor concerns persist about AI disruption risk.
Super Bowl Rings
Super Bowl winners receive championship rings months after their victory. The NFL provides $5,000-$7,000 per ring for 150 rings, but final costs reach $50,000 each depending on design. Team owners cover additional expenses, with total bills estimated around $5 million. Players, coaches, and select personnel receive rings at owner discretion.
Rings take approximately four months to design and create. Each is personalized with recipient names and jersey numbers. Teams work with jewelers like Jostens to finalize designs, determining diamond placement, wording, and other features through detailed collaboration between ownership and craftspeople.
Losing Super Bowl teams receive conference championship rings (AFC or NFC) recognizing their path to the game. These rings are similarly personalized but often evoke mixed emotions, celebrating the achievement while marking the missed opportunity for ultimate victory. Tom Brady’s seven rings.
TOGETHER WITH HIMS & HERS
Weight Loss That Actually Works.
Here's what most people don't know about GLP-1 weight loss treatment: you don't need to pay $1,000+/month or deal with insurance headaches to access it.
Hims & Hers offers compounded GLP-1 injections—containing the same active ingredient as Wegovy®—starting at $199/mo with a 6-month plan.* The results? Customers report an average weight loss of 11.7 lbs in the first month (for Hims) and 9 lbs (for Hers).*
Unlike one-size-fits-all programs, you get a personalized treatment plan based on your health history and goals, plus unlimited check-ins with licensed providers—all 100% online. No insurance required. FSA/HSA eligible.
94% of customers report feeling healthier after two months.* Ready to see if you qualify? Start with a quick online assessment.
*Paid upfront in full. Compounded drug products are not approved or evaluated for safety, effectiveness, or quality by the FDA. Prescription required. Not available in all 50 states. See website for full details and restrictions.
TODAY’S LIFE ADVICE
How to Boost Your Baseline Dopamine
Dopamine isn't about pleasure. It's about pursuit. Most people chase quick dopamine spikes through junk food and endless scrolling, which actually lowers baseline motivation. The goal is building consistent elevated dopamine that supports long-term drive.
Science-backed dopamine tools:
Tyrosine-rich foods (eggs, fish, nuts) provide raw materials for dopamine production
Morning sunlight triggers dopamine release in alertness circuits
Cold exposure and controlled breathwork activate motivation pathways
Deep work blocks (60-90 minutes) maintain steady dopamine flow
Consistent sleep stabilizes dopamine receptors. Reducing overstimulation protects against depletion. When you attach meaning to effort, your brain releases small dopamine pulses that reinforce determination, building inner momentum instead of relying on external rewards.
Doing Less Means More Muscle
Most people don't train too little. They train too comfortably. Spreading moderate effort across 20 sets doesn't force your body to adapt. Real growth comes from intensity, not volume.
The truth about muscle growth:
One brutal set creates more stimulus than three moderate ones
Pushing to actual failure triggers adaptation
Volume without intensity is just time wasted
When you only get two working sets per exercise, you can't coast. You're forced to push hard or admit you're just filling time. Most lifters hide behind volume to avoid the discomfort of real intensity.
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▲ Penny the Doberman wins Westminster's 150th Best in Show, defeating 3,000 dogs from 202 breeds | Best in Show movie
TOGETHER WITH HIMS & HERS
Two Paths to Weight Loss. One Comprehensive Program.
If you've been putting off weight loss treatment because of cost or hesitation about injections, here's your alternative: Hims & Hers offers both oral medication kits (starting at $89/mo) and compounded GLP-1 injections (starting at $199/mo).*
Both options include:
A personalized treatment plan from licensed providers trained in weight management
Unlimited online check-ins and dosage adjustments
Dynamic guidance on nutrition, movement, and sleep habits through their app
The catch? You pay upfront for 6-10 months of treatment. The benefit? No membership fees, transparent pricing, and you lock in your rate. Plus, you can save 30% on average if you use FSA/HSA funds.*
Weight Loss by Hims & Hers combines medication with ongoing access to medical providers and actionable protocols designed for sustainable results. Take their online assessment to see which treatment option fits your goals.
*Paid upfront in full. Compounded drug products are not approved or evaluated for safety, effectiveness, or quality by the FDA. Prescription required. Not available in all 50 states. See website for full details and restrictions.
Fun Links
Where “FAFO” came from [Blog]
Ceasar salad quesadilla [Recipe]
Make your hair grow faster [Blog]
Jelly Roll won’t talk politics [Video]
Fast food caviar for Valentines [Blog]