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Marvel's president discusses the company's transformation from a struggling publisher losing $2 million/year ("a total disaster, totally mismanaged") to a diversified entertainment company. Covers the royalty system's success in sparking "a whole brand new burst of creativity," the launch of Marvel Productions animation studio (hired David DePatie after his split with Friz Freleng), merchandising synergy (creating a persona for ROM, the G.I. Joe licensing empire with 35 licensees), and his personal decision to sell off Marvel's pornographic skin magazines because "I'm not a pornographer." Shares his vision of Marvel as "the company people think of when they think of kids" and mentions plans for a Captain America Broadway show and expanding from four to six animated TV shows.

Hembeck discusses the long, troubled history of Fred Hembeck Destroys the Marvel Universe, which was completed but then blocked by Jim Shooter and Jim Galton over the ending's allusion to Mort Weisinger; Hembeck refused to change it. He recounts a personal "curse" surrounding the book — his mother died, a close friend (cartoonist Raoul Vezina) died unexpectedly, and several other near-disasters struck while he worked on it. He also reflects on his career trajectory from fanzine parody strips to Marvel projects, his sitcom-driven sense of comic timing (citing Jack Benny, Sgt. Bilko, and Mary Tyler Moore as key influences), and his desire to eventually do situation-comedy-style comics without superheroes, praising Love and Rockets and American Flagg as models.