How this dumb doll makes $2M per day

**Shaan Puri** (0:00)
This stock has grown in the last year from a $7 billion company to now a $44 billion company. $44 billion.

**Sam Parr** (0:06)
Okay.

**Shaan Puri** (0:07)
You know what I mean? That's what Elon bought X for. This guy's selling Labubus.

**Sam Parr** (0:12)
It's insane, it's crazy.

**Shaan Puri** (0:23)
Dude, Sam, do you know what one of these are?

**Sam Parr** (0:27)
Oh my gosh, Ramon will not quit talking to me about these things. Okay, so those are, so for the listener, Shaan's showing me-

**Shaan Puri** (0:34)
What am I holding up?

**Sam Parr** (0:35)
They look like dolls, basically in the same vein as a troll, but I have gotten texts from my friend, our friend Ramon, who says, have you heard of this thing? It's worth, and he says the number and I'm like, oh, yeah, it must have been a typo. So what's the deal with these things?

**Shaan Puri** (0:51)
Do you know what they're called?

**Sam Parr** (0:53)
A super something?

**Shaan Puri** (0:55)
No, this is a Labubu, all right, Sam? Get yourself educated. This is a Labubu doll, okay?

**Sam Parr** (1:02)
Does it have a Prada sign on it?

**Shaan Puri** (1:05)
Yeah, that's part of the shtick here. Okay, so what's the story with these things? This is basically the most viral toy in the world. It's one of the biggest crazes since, you know, BBBs and things like that. And so the story behind this thing is pretty crazy. I just wanted to tell you some of the things that I know about it. Of course, my wife put me onto this months ago and I just ignored it as the stock of this company is up like 7X in a year because this thing is going crazy.

**Sam Parr** (1:32)
Chinese company, right?

**Shaan Puri** (1:34)
Chinese company, yeah. So this is made by, these dolls are produced by a Chinese company called Pop Mart and the maker for this guy, Wang Ning, he is now the 10th richest man in China. And like he's adding like a billion dollars to his net worth in the last few months.

**Sam Parr** (1:49)
But he's like 30, right? Or like he's...

**Shaan Puri** (1:52)
He's really young. Like dude, look at this picture of him.

**Sam Parr** (1:55)
Yeah, but Chinese guys always look really young until they don't.

**Shaan Puri** (1:58)
Until they don't.

**Sam Parr** (1:59)
Yeah, haven't you ever heard like all of my Asian friends, they're like, we always look young and then we fall off a cliff.

**Shaan Puri** (2:04)
All right, can you see this guy?

**Sam Parr** (2:07)
Yeah, I mean, he could be 12 or 50, I don't know.

**Shaan Puri** (2:12)
Yeah, so this guy is behind this company, Pop Mart. But it's kind of fascinating what's going on with this craze, right? Like it's really taken over. So somebody gave these to my kids as like a gift and I didn't really understand the significance of it. I was like, oh, cool, thanks. I didn't realize that we were just gifted like a really important thing. This is like one of the more valuable items in my house right now. Like these things sell for thousands of dollars. The top ones can sell for six figures. That's how crazy the craze is for this.

**Sam Parr** (2:43)
OK, so tell me the story because this is this sounds like a good good stock to short because that's typically how these like collectibles kind of will get to that.

**Shaan Puri** (2:52)
Yes, I agree with you. We'll get to that. All right. So the story of the Labubu dolls is there's a guy who's an artist around 2015 He's he's in the Netherlands. He gets inspired for to create like a kind of like a toy world. So like a character world based on where he's at in the Netherlands. And he designs these dolls, these kind of like like look at their teeth, like the little like gremlin looking doll. And there's hope for us. OK, because the experts are describing this as ugly cute. And it's succeeded because it's ugly cute. And I just thought like our podcast, I just feel like that just gave us like some wind in our sails for what we could do as well on YouTube.

**Sam Parr** (3:31)
It's worse for us because we're not particularly ugly, but we're not particularly good looking. Is there like a cute?

**Shaan Puri** (3:39)
What the kids call mid.

**Sam Parr** (3:40)
Yeah.

**Shaan Puri** (3:41)
All right. So he creates these in 2015 Not a lot happens from there. But in 2019, so four years later, he partners with this company, Pop Mart, and Pop Mart was started about a decade ago because this guy, Wang Ning, had this insight, which is he thought that this kidult trend, we've talked about this before because you're into Legos. So he's like this kidult trend, this like kids toys for adults. Like minis. Is going to be a thing.