I think there are a bunch of things happening in the traditional toy space. A, it’s never been easier to become a toy company. You can go to a city in China, just a couple of hours’ drive north of Hong Kong, called Shantou, and walk through 10 Costcos worth of a showroom of toys that a thousand different manufacturers are coming with you. And if you have a decent-sized checkbook, you can go on a walk-through and say, “I’m going to pick that one, and that one, and that one,” and buy a bunch of toys, and suddenly, you are a toy OEM. And then you have a massive amount of distribution options ahead of you, especially with the rise of e-commerce. But on this flip side, it’s never been harder to be a traditional toy company; there’s more competition than ever.
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