Welcome to The Business Academy.

Dear readers, I'm on my honeymoon this week (picture proof below). so you'll get a shorter piece today. I'll be back next week fully rested :)

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I slept with a Teddy Bear for 8 years of my life. I'm not ashamed to admit it. We spent so much time together that eventually one of his eyes fell out. He lives on in my parent's home...

Why am I telling you about my Teddy Bear in this business newsletter?

Because I just learned the story of how Teddy Bears were invented...and I bet you don't know this fascinating story...so here it is:

In 1902, it was common practice to go bear hunting.

One day President Theodore Roosevelt went on a bear-hunting trip to Mississippi. After a long morning pursuing a bear through the woods, the president decided to go to lunch and take a break.

Holt Collier, an experienced bear hunter, continued chasing the bear, eventually catching him and tying the bear to a tree. He called the president to shoot the bear, but Roosevelt turned down the offer feeling it was unsportsmanlike to kill the immobilized bear.

Upon his return news of the failed bear hunt circulated widely. The Washington Post ran a cartoon depicting Roosevelt with the bear, with wide eyes looking cute and innocent.

Sensing an opportunity, Morris Michtom, a Brooklyn candy shop owner, created a small soft bear plush toy and put it in his shop winder, labeling it "Teddy's bear". Michtom sent Roosevelt one of these bears and asked for permission to use his name.

Nobody could have predicted what happened next...

In its first year, Michtom sold 1 million Teddy Bears.

This tidal wave of success inspired him to close his candy shop, and found a toy company instead. He founded the Ideal Toy Company with his wife, which was responsible for producing a wide range of toys including some favorites like:

• The Shirley Temple doll - based on the famous child acress
• Betsy Wetsy - a doll designed to drink and wet its diaper
• Magic 8 Ball - not invented by Ideal, but the company acquired rights to it
• Rubik's Cube - ideal was licensed as a distributor for this popular Hungarian game

In the late 1980s, Ideal was acquired by CBS Toys, which was part of the CBS television network.

If you like business stories like this...let me know!

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Apologies for the radio silence last week. I've been traveling for my Honeymoon! I hope you enjoy the shorter business history this week. Here's a picture from our sailing adventure:

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have a great week,

Sieva

Disclaimer: nothing here is investment advice. Please do your own research. The information above is just for information and learning.

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