In 2021, the Hollywood producer Brian Grazer was on a bike trip in South America with some friends, including media mogul Barry Diller, former Allen & Company president Herbert Allen Jr., and former Activision chief Bobby Kotick. A registered Democrat at the time, Grazer was expressing his frustration with the woke fever gripping the country and was considering holding a salon at his Santa Barbara home to discuss the issue. Allen suggested Grazer get in touch with his son Herb Allen III, who now runs the family’s boutique investment bank, which is known for its billionaire-heavy media-tech confab, held each...