Tuesday, April 24, 2007

It's Alive!

Mattel executives were intrigued – but recoiled when they discovered it would need eight motors; those cost $1 apiece, and a $30 toy couldn't include more than one or two. He told them they should build it and charge more. They told him he was crazy and killed the project.
Everyone knows how the story ended: Furby came out in 1998, and holiday
consumers went berserk, buying $1.2 billion worth of the $30 toy. Chung
made more than $10 million in royalties. He now had the freedom and
money to do precisely what he wanted.

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