Nilay Patel

Well, a global supply chain and manufacturing nightmare precipitated by tariffs, the AI explosion, and of course the endless chaos of the video game industry.

And then there's the relentless continuation of a trend that defines the modern toy industry.

More and more toys and games being made for adults who have a bunch of money instead of kids who don't.

Chris and I talked about that quite a bit, and I think his point of view here is at once totally logical and also completely surprising.

Chris and I also talked a lot about Hasbro investing so heavily into video games in a time of relative uncertainty in the industry.

For example, you'll hear Chris mention several times how important Monopoly Go, the mobile game, is for Hasbro.

And while Magic the Gathering and Dungeons and Dragons are already huge brands, Hasbro's trying to expand with original video games, like Exodus, which is slated to be released next year.

That's another huge set of challenges in an era where video game studios are shutting down more or less weekly, and the distribution market is controlled by a small handful of players like Sony, Microsoft, and Steam.

And being a company that's so reliant on big IP with big fandoms, well that puts Hasbro right at the center of a bunch of thorny cultural issues as well.

Because fans have really strong feelings about the stories they love and the creators they maybe don't love so much.

For example, Hasbro just signed a big deal to distribute Harry Potter merchandise for the next several years.

So Chris and I spent some time talking about whether the Harry Potter fandom is growing.

and whether it can grow as fast as he wants it to in the face of J.K.

Rowling's politics.

You can tell there's a lot going on in this one.

Toys are a complicated business.

I think you're really going to like it.

A quick reminder before we start, you can listen to this episode or any episode of Decoder completely ad-free by subscribing to The Verge.

Just go to theverge.com slash subscribe.

Okay, Chris Cox, CEO of Hasbro.