Meet the HENRYs

Now, let’s dive into this week’s biggest stories.

• Who are the HENRYs?
• This is what EV shoppers actually want.
• Nobel Prize-winning economist Angus Deaton is rethinking things.
• Take a tour of Y Combinator’s college-esque HQ.

Disney’s shareholders voted to stick with the existing board by a “substantial margin.” Iger said the company would now focus on shareholder returns and “creative excellence.” Peltz pointed to Disney’s 50% stock surge since he started his campaign as a sign of victory in defeat.

The win follows a few months full of action. Disney made bets on Hulu, gaming, and Taylor Swift. It announced a new sports-streaming platform. It settled its legal dispute with Florida. Iger walked back from “woke” Disney.

But the repeat CEO still has two looming challenges.

First, he needs to find his successor. Iger, who has a history of flubbing this test, stressed after the proxy victory that finding the next CEO is a priority.

Then there’s Disney’s bigger challenge: How to reinvent a 100-year-old company for a new era.

The cable bundle is broken. Movie attendance has crashed. Gen Zers are tuning out streamers. YouTube could be worth as much as Disney and Comcast combined. They’re the kinds of hurdles that will keep Iger and his successor up at night for years to come.

We found, on average, HENRYs are white Gen Xers. An overwhelming majority of them are married. And a fair share have debt.

See how the data breaks down.

But demand for electric pickups has dried up, and consumers are no longer interested in six-figure behemoths like the GMC Hummer EV and the Ford F-150 Lightning. Instead, they’re turning toward smaller, cheaper cars.

Why nobody wants big, expensive EVs.

Also read:

• Tesla can’t outrun the EV slowdown

Deaton told BI he no longer sees unions as a “nuisance,” he’s grown skeptical of free trade, and he’s realized immigration has long-term impacts on inequality.

Everything else that Deaton’s rethinking.

Also read:

• China is producing too much stuff. The West is worried.

In January, the startup accelerator tripled its square footage by expanding into the building next door, bringing it to 60,000 square feet. Its new headquarters is meant to be more like a campus than a coworking space.

Check out the sprawling new HQ.

“‘Artificial intelligence’ isn’t ‘the future’ — it’s just a marketing term for a slightly updated version of the automation that has been ruling our lives for years.”

• Top tricks from someone who saved $100,000 by 25.
• Apollo’s Leon Black says he is so wealthy he didn’t know he’d paid Jeffrey Epstein $158 million.
• About a third of hiring managers don’t want to hire Gen Zers — or older workers.
• Wall Street’s biggest wealth managers could face an avalanche of lawsuits thanks to one judge’s ruling.
• A rundown of the hedge fund industry’s annual best pitch conference.
• Microsoft warns China will use AI to try to influence US elections.
• How Apple uses consumer psychology to make the iPhone feel like the “cool” brand.
• Wall Street is obsessed with the growing Salesforce rival HubSpot.

Matt Turner, deputy editor-in-chief, in New York. Jordan Parker Erb, editor, in New York. Dan DeFrancesco, deputy editor and anchor, in New York City. Lisa Ryan, executive editor, in New York.

Get in touch. Email us at insidertoday@insider.com

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