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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.

Subscribe to The Best Idea Yet for the untold origin stories of the products you’re obsessed with — and the bold risk takers who made them go viral.

Episodes drop every Tuesday, listen here: https://wondery.com/links/the-best-idea-yet/

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