Beanie Babies — the unassuming critters with birthdates and bios — are designed to tug on your heartstrings (and your wallet). But for a moment in the late-90s, they burst out of gift shops and into investment portfolios as America went crazy over Legs the Frog, Pinchers the Lobster, and the rest of the plushie pals.Behind this bean-stuffed market bubble hid a mysterious salesman with a chip on his shoulder named Ty Warner (the P.T. Barnum of Plush), who masterminded limited drops, direct-to-retail strategies, and internet virality before any of those things had names.With plastic pellets and perceived scarcity, Ty built an empire worth billions that stands to this day. But there wasn't such a happy ending for most speculators when the market turned from (Snort the) bull to (Brownie the) bear, wiping out millions.Find out how Beanie Babies helped launch eBay, why you should never trade your Bucky the Beaver for a cupcake, and why Beanie Babies is the best idea yet.One last thing, check out our live podcast recording for The Best One Yet, our daily podcast, in Chicago! Tickets are on sale now, grab 'em while you still can: Wondery.fm/TBOYLiveBe the first to know about Wondery’s newest podcasts, curated recommendations, and more! Sign up now at https://wondery.fm/wonderynewsletterFollow The Best Idea Yet on the Wondery App or wherever you get your podcasts. You can listen to new episodes early and ad-free on Wondery+. Join Wondery+ in the Wondery App, Apple Podcasts or Spotify. Start your free trial by visiting www.wondery.com/links/the-best-idea-yet/ nowSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Ask this episode

“What did the council decide on item 42?” — answered with the speaker and the moment.

Transcript

Related