Read-through from our fireside chat with a leading toy OEM supplier; our thoughts on recent 5% search interest decline We recently hosted a fireside chat with a leading toy OEM supplier ("Understanding the supply chain"). Key takeaway is that current OEM supply is in shortage, as more IPs are moving OEM sourcing out of China. This explains why Labubu & Crybaby are still out of stock, in addition to strong demand. Once the supply shortage normalizes, we expect super IPs to have stronger bargaining power (to ...