Welcome back to The Daily Courant, your afternoon guide to the best work at Puck.
First up today, Bill Cohan looks at how the venture capital brain trust got FTX so wrong—the S.B.F. seduction, the spectacular failure of diligence, and, finally, the patented C.Y.A. non-apologies as their nine-figure investments are written down to zero.
Plus, below the fold: Dylan Byers contrasts the fortunes of Bob Iger and Chris Licht during a chilly holiday season for mediacos. Tina Nguyen scrutinizes the latest efforts of the G.O.P. to consciously uncouple from Trumpworld. Matt Belloni explores the Hollywood economics behind the explosion of Christmas schlock. And then Tara Palmeri joins Peter Hamby to discuss Kevin McCarthy’s attempts to win the fringe.