Why are toys such a bad business?

“Every year, [toy companies] have to a) predict trends, b) invent them, and c) commit capital to them. All without knowing how the rest of the year will turn out. Since toy trends exist, but don’t last for very long, they have to invent new products every year—but the technological state of the art doesn’t advance very fast. It has all the volatility of tech, without the progress.” learn more

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