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Elvis Duran and the Morning Show ON DEMAND

The Backstory: The Great Beanie Baby Bubble Bust

Elvis Duran and the Morning Show ON DEMAND

Elvis Duran Podcast Network and iHeartPodcasts

Comedy, Music History, Entertainment News, News, Society & Culture, Music

4.91.2K Ratings

🗓️ 16 December 2025

⏱️ 9 minutes

🧾️ Download transcript

Summary

It’s the holiday season, a time that brings out our desire to please those we love, particularly the kids in our lives. There’s a red hot toy every year, but what happens when that toy puts dollar signs in the eyes of grownups? This is about one toy that caused a lot of folks financial ruin and divorce, while it made a billionaire out of the guy who created it.

Feel free to DM me if you have a story you’d like me to cover . . On Facebook it’s Patty Steele and on Instagram Real Patty Steele

See omnystudio.com/listener for privacy information.

Transcript

Click on a timestamp to play from that location

0:00.0

All right, if you are a kid or a kid at heart, you have kids or you ever were a kid,

0:05.2

then you know the holiday season always seems to have one red-hot, must-have toy.

0:11.1

Every year, there are tons of new things to buy, but there's always a standout.

0:15.7

This year, Labuboos have been firing up the marketplace, at least for younger kids.

0:20.7

Only a handful of toys have stayed popular through the marketplace, at least for younger kids. Only a handful of toys

0:22.1

have stayed popular through the ages, but one in particular took folks on a wild roller coaster

0:28.4

ride in the investment world. I'm Patty Steele. The perfect toy turns into the perfect investment

0:35.1

temporarily. That's next on the backstory.

0:40.6

This is an I-Heart podcast.

0:43.7

Guaranteed human.

0:47.0

The backstory is back.

0:49.4

Getting the perfect toy for the holidays isn't just the goal of every kid.

0:54.1

It's the sometimes frustrating goal of

0:56.2

every parent, grandparent, aunt and uncle. Labibos are one of the hottest toys this holiday season.

1:03.1

In case you don't know, it's a little squishy monster thing that'll set you back anywhere from

1:07.8

20 to 25 bucks. But what launches a toy into the stratosphere, making it iconic?

1:14.5

One toy I'll tell you about in a bit became hugely desired as an investment until the bubble burst.

1:21.9

But first, let's go back. In the past, there was the teddy bear craze, which began in 1906 and really hasn't stopped since.

1:30.7

It started with President Teddy Roosevelt sparing the life of a tied-up black bear while on a hunting trip.

1:38.1

Then, jumping on the publicity surrounding the story, a German toy company produced a ton of stuffed bears, and voila.

1:46.3

Every kid needed a teddy bear. That was pretty much the first major toy craze. Since before the

1:52.6

20th century, toys were mostly simple and homemade. Then, in 1920, Raggedy Ann and Andy hit the scene in a big way.

...

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