Today, we need to talk about Bob. Two Bobs, actually: Bob Iger, the former and now current CEO of Disney, and Bob Chapek, the man Iger handpicked as his replacement, who flamed out and was fired by the board, and then, on November 20th, was replaced by Bob Iger. Bobs, man.

The heart of this whole thing is total Decoder bait. It’s a story about how to structure a company like Disney. Then you add in the complexity of the shift to streaming, the future of TV and movies generally, and the gigantic reputation of a character like Bob Iger, who many people think could plausibly run for president. There’s just a lot going on here.

Whenever I need to talk Disney, media, and Bobs, I call one person: Julia Alexander, director of strategy at Parrot Analytics and a former reporter at The Verge. Julia pays a lot of attention to the streaming giants, she’s sourced inside all the companies battling for our attention, and she has a lot to say about the Bobs.