5 Great Depression Success Stories

Moviehouses took a hit but, through innovation, came out of the Great Depression stronger than ever.
Moviehouses took a hit but, through innovation, came out of the Great Depression stronger than ever.
Hulton Archive/Getty Images

These entities faced serious challenges during the Great Depression and lived to tell about it.

1. Floyd Bostwick Odlum

Many investors lost everything during the market crash of 1929 because they had mistakenly assumed Wall Street's good times were never going to end. Floyd Bostwick Odlum had, with some partners, cannily turned $40,000 [PDF] into a multimillion-dollar fortune by investing in utility companies. Odlum and his partners didn't like the way they thought the markets were moving, though. They cut bait on stocks in an effort to generate cash before the market crash Odlum thought was coming.

When the crash came, Odlum had millions in cash on hand, an enviable position in a cash-starved market. He began swooping in to buy up failing companies at drastically reduced prices and then consolidating or spinning their assets for more cash. It sounds like a pretty simple model, but it was so effective it made Odlum one of the wealthiest men in the country. The 1941 edition of Current Biography declared Odlum "possibly the only man in the United States who made a great fortune out of the depression."

2. Movies

The beginning of the Great Depression in late 1929 came at a particularly inopportune time for the film industry, which had recently evolved with the 1927 release of The Jazz Singer, a milestone talkie. Just as the industry seemed to be gaining momentum, unemployment shot up and the sort of disposable income one uses for little luxuries like going to the movies steeply declined. Early in the economic crisis, many moviehouses had to close their doors due to the decreased traffic, and most of the once-profitable studios started turning losses in the 1930s.

Faced with this glum market, the film industry got creative. To give customers maximum bang for their scant bucks, theaters cut ticket prices by 50 percent or more and started giving patrons two features for the price of one ticket. These double features propped up demand for cheaply made B movies, and smaller studios stayed afloat by banging out these quick products.

Theater owners resorted to even more desperate hucksterism, though. During the Depression it was fairly common for theaters to use giveaways to fill their seats. Promotions like "Dish Night," in which any woman who attended got a free dinner plate; cash door prizes; and silverware giveaways, where each trip to see a flick got you closer to having a complete set of flatware, helped buoy up attendance. Although box-office takes fell from $720 million in 1929 to $480 million in 1933, they slowly climbed back up to $810 million by 1941, in part due to these disaster-management tricks.

3. Procter & Gamble

The Great Depression was trying for most consumer product companies, but Procter & Gamble came out of the whole ordeal smelling better than it had in 1929. How did the soap giant [PDF] beat the Depression? Things were tough at first when mainstay grocery customers started cutting their orders and inventories piled up. P&G apparently realized that even in a depression people would need soap, though, so they might as well buy it from Procter & Gamble.

Thus, instead of throttling down its advertising efforts to cut costs, the company actively pursued new marketing avenues, including commercial radio broadcasts. One of these tactics involved sponsoring daily radio serials aimed at homemakers, the company's core market. In 1933, P&G debuted its first serial, Oxydol's Own Ma Perkins, and women around the country quickly fell in love with the tales of the kind widow. The program was so successful that P&G started cranking out similar programs to support its other brands, and by 1939, the company was producing 21 radio shows—and pioneering the “soap opera." In 1950, P&G made the first ongoing television soap opera, The First Hundred Years.

4. Martin Guitars

Like movies, musical instruments would seem to be a vulnerable industry in a down economy, but venerable acoustic guitar maker Martin made it through the Depression using a number of strategies. In addition to reducing its wages and operating on a three-day work week, the company also made everything from violin parts to wooden jewelry. The company stuck to its principle of not giving high-volume retailers discounts, which maintained its relationship with smaller dealers and cemented the company's image as a square dealer.

Martin also started offering new, less expensive models that went on to enjoy great popularity. The "dreadnought" body style (which traced its origins to earlier guitars made for a Boston publishing firm) was one of these triumphs; it included a larger, deeper body that provided more volume and bass resonance. Martin introduced its first archtop guitar in 1931, and the company also revolutionized its designs by using 14-fret necks on its guitars. These technical changes, coupled with Martin's dedication to giving its customers high-quality instruments at reasonable prices, helped keep its sales up throughout the Depression.

5. Brewers

The Depression was hard enough for most companies, but the nation's brewers had it especially bad. Sure, money was tight, but brewers’ core product, beer, wasn't even legal. During national Prohibition from 1920 to 1933, many of the country's breweries closed their doors for good—according to a 1932 Congressional Hearing, there were more than 1000 breweries before Prohibition began, but by 1932, there were “only 164 that could be ready to make beer again.”

How did these brewers make ends meet during the Depression when they couldn't sell suds to the distressed 25 percent [PDF] of workers who didn't have jobs? By diversifying. And then diversifying some more.

Brewers started running dairies, selling meat, and venturing out into other agricultural enterprises. Brewers were also allowed to make "near beer" that had only trace amounts of alcohol, but the Depression killed off consumer demand from 300 million gallons in 1921 to just 86 million gallons in 1932. Breweries also started applying their expertise to non-alcoholic tipples like root beer. Frank Yuengling, who headed the family brewery outside of Philadelphia, remained confident that Prohibition was just a phase, and he personally diversified widely, including opening a dance hall.

In the end, waiting out the storm by diversifying (and maybe brewing some illicit beer on the side) turned out to be a sound strategy. As of 2019, the five best-selling beers in America are all produced by pre-Prohibition/pre-Great Depression brands.

The ChopBox Smart Cutting Board Has a Food Scale, Timer, and Knife Sharper Built Right Into It

ChopBox
ChopBox

When it comes to furnishing your kitchen with all of the appliances necessary to cook night in and night out, you’ll probably find yourself running out of counter space in a hurry. The ChopBox, which is available on Indiegogo and dubs itself “The World’s First Smart Cutting Board,” looks to fix that by cramming a bunch of kitchen necessities right into one cutting board.

In addition to giving you a knife-resistant bamboo surface to slice and dice on, the ChopBox features a built-in digital scale that weighs up to 6.6 pounds of food, a nine-hour kitchen timer, and two knife sharpeners. It also sports a groove on its surface to catch any liquid runoff that may be produced by the food and has a second pull-out cutting board that doubles as a serving tray.

There’s a 254nm UVC light featured on the board, which the company says “is guaranteed to kill 99.99% of germs and bacteria" after a minute of exposure. If you’re more of a traditionalist when it comes to cleanliness, the ChopBox is completely waterproof (but not dishwasher-safe) so you can wash and scrub to your heart’s content without worry. 

According to the company, a single one-hour charge will give you 30 days of battery life, and can be recharged through a Micro USB port.

The ChopBox reached its $10,000 crowdfunding goal just 10 minutes after launching its campaign, but you can still contribute at different tiers. Once it’s officially released, the ChopBox will retail for $200, but you can get one for $100 if you pledge now. You can purchase the ChopBox on Indiegogo here.

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11 Fascinating Facts About Tamagotchi

Tamagotchi is the toy that launched a thousand digital pet competitors.
Tamagotchi is the toy that launched a thousand digital pet competitors.
Chesnot/Getty Images News

They blooped and beeped and ate, played, and pooped, and, for ‘90s kids, the egg-shaped Tamagotchi toys were magic. They taught the responsibility of tending to a “pet,” even though their shrill sounds were annoying to parents and teachers and school administrators. Nearly-real funerals were held for expired Tamagotchi, and they’ve even been immortalized in a museum (of sorts). Here are 11 things you should know about the keychain toy that was once stashed in every kid’s backpack.

1. The idea for the Tamagotchi came from a female office worker at Bandai.

Aki Maita was a 30-year-old “office lady” at the Japanese toy company Bandai when inspiration struck. She wanted to create a pet for kids—one that wouldn't bark or meow, make a mess in the house, or lead to large vet bills, according to Culture Trip. Maita took her idea to Akihiro Yokoi, a toy designer at another company, and the duo came up with a name and backstory for their toy: Tamagotchis were aliens, and their egg served as protection from the Earth’s atmosphere. They gave prototype Tamagotchis to high school girls in Shibuya, and tweaked and honed the design of the toy based on their feedback.

2. The name Tamagotchi is a blend of two Japanese words.

The name Tamagotchi is a mashup between the Japanese words tamago and tomodachi, or egg and friend, according to Culture Trip. (Other sources have the name meaning "cute little egg" or "loveable egg.")

3. Tamagotchis were released in Japan in 1996.

A picture of a tamagotchi toy.
Tamagotchis came from a faraway planet called "Planet Tamagotchi."
Museum Rotterdam, Wikimedia Commons//CC BY-SA 3.0

Bandai released the Tamagotchi in Japan in November 1996. The tiny plastic keychain egg was equipped with a monochrome LCD screen that contained a “digital pet,” which hatched from an egg and grew quickly from there—one day for a Tamagotchi was equivalent to one year for a human. Their owners used three buttons to feed, discipline, play with, give medicine to, and clean up after their digital pet. It would make its demands known at all hours of the day through bloops and bleeps, and owners would have to feed it or bathe it or entertain it.

Owners that successfully raised their Tamagotchi to adulthood would get one of seven characters, depending on how they'd raised it; owners that were less attentive faced a sadder scenario. “Leave one unattended for a few hours and you'll return to find that it has pooped on the floor or, worse, died,” Wired wrote. The digital pets would eventually die of old age at around the 28-day mark, and owners could start fresh with a new Tamagotchi.

4. Tamagotchis were an immediate hit.

The toys were a huge success—4 million units were reportedly sold in Japan during their first four months on shelves. By 1997, Tamagotchis had made their way to the United States. They sold for $17.99, or around $29 in today's dollars. One (adult) reviewer noted that while he was "drawn in by [the Tamagotchi's] cleverness," after several days with the toy, "the thrill faded quickly. I'm betting the Tamagotchi will be the Pet Rock of the 1990s—overwhelmingly popular for a few months, and then abandoned in the fickle rush to some even cuter toy."

The toy was, in fact, overwhelmingly popular: By June 1997, 10 million of the toys had been shipped around the world. And according to a 2017 NME article, a whopping 82 million Tamagotchi had been sold since their release into the market in 1997.

5. Aki Maita and Akihiro Yokoi won an award for inventing the Tamagotchi.

In 1997, the duo won an Ig Nobel Prize in economics, a satiric prize that’s nonetheless presented by Nobel laureates at Harvard, for "diverting millions of person-hours of work into the husbandry of virtual pets" by creating the Tamagotchi.

6. Tamagotchis weren't popular with teachers.

Some who grew up with Tamagotchi remember sneaking the toys into school in their book bags. The toys were eventually banned in some schools because they were too distracting and, in some cases, upsetting for students. In a 1997 Baltimore Sun article titled “The Tamagotchi Generation,” Andrew Ratner wrote that the principal at his son’s elementary school sent out a memo forbidding the toys “because some pupils got so despondent after their Tamagotchis died that they needed consoling, even care from the school nurse.”

7. One pet cemetery served as a burial ground for expired Tamagotchi.

Terry Squires set aside a small portion of his pet cemetery in southern England for dead Tamagotchi. He told CNN in 1998 that he had performed burials for Tamagotchi owners from Germany, Switzerland, France, the United States, and Canada, all of whom ostensibly shipped their dead by postal mail. CNN noted that "After the Tamagotchis are placed in their coffins, they are buried as mourners look on, their final resting places topped with flowers."

8. There were many copycat Tamagotchi.

The success of the Tamagotchi resulted in both spin-offs and copycat toys, leading PC Mag to dub the late ’90s “The Golden Age of Virtual Pets.” There was the Digimon, a Tamagotchi spin-off by Bandai that featured monsters and was marketed to boys. (There were also Tamagotchi video games.) And in 1997, Tiger Electronics launched Giga Pets, which featured real animals (and, later, dinosaurs and fictional pets from TV shows). According to PC Mag, Giga Pets were very popular in the United States but “never held the same mystique as the original Tamagotchi units.” Toymaker Playmates's Nano Pets were also a huge success, though PC Mag noted they were “some of the least satisfying to take care of."

9. Rare Tamagotchis can be worth a lot of money.

According to Business Insider, most vintage Tamagotchis won't fetch big bucks on the secondary market. (On eBay, most are priced at around $50.) The exception are rare editions like “Yasashii Blue” and “Tamagotchi Ocean,” which go for $300 to $450 on eBay. As Complex notes, "There were over 40 versions (lines) of Tamagotchi released, and each line featured a variety of colors and variations ... yours would have to be one of the rarest models to be worth the effort of resale."

10. A new generation of Tamagotchis were released in 2017 for the toy's 20th anniversary.

The 2017 re-release of the Tamagotchi in its packaging.
Bandai came to the aid of nostalgic '90s kids when it re-released a version of the original Tamagotchis for the toy's 20th anniversary.
Chesnot/Getty Images

In November 2017, Bandai released a 20th anniversary Tamagotchi that, according to a press release [PDF], was "a first-of-its-kind-anywhere exact replica of the original Tamagotchi handheld digital pet launched ... in 1996." However, as The Verge reported, the toys weren't an exact replica: "They're about half the size, the LCD display is square rather than rectangle, and those helpful icons on the top and bottom of the screen seem to be gone now." In 2019, new Tamagotchis were released; they were larger than the originals, featured full-color displays, and retailed for $60.

11. The original Tamagotchi’s sound has been immortalized in a virtual museum.

The Museum of Endangered Sounds is a website that seeks to immortalize the digital sounds that become extinct as we hurtle through the evolution of technology. “The crackle of a dial-up modem. The metallic clack of a 3.5-inch floppy slotting into a Macintosh disk drive. The squeal of the newborn Tamagotchi. They are vintage sounds that no oldies station is ever going to touch,” The Washington Post wrote in a 2012 profile of the museum. So, yes, the sound of that little Tamagotchi is forever preserved, should it someday, very sadly, cease to exist completely.