PART 1 🏰 Disneyland: The Fantasy that Almost Flopped

0:00Yetis, you look fantastic today. Jack and I here coming at you from the T-boy studio. We're on vacation this week. We are. So we whipped up a vacation-themed treat for you. Because this is a deep dive episode on the happiest place on earth. Disneyland. While Nick and I are on vacation, we figured we'd take you there too. Yeah, why not? Disney's Disneyland. It is the latest episode of our weekly show, The Best Idea Yet. Where we break down the most viral products in history and their epic origin stories. And for this special occasion, Jack and I had an idea. we decided to divide our Disney episode into two parts, 25 minutes long each.

0:37So you can enjoy this episode today and tomorrow in your usual T-boy morning time slot. Yeah, if you run for 25 minutes a day, boom, it's just like your usual routine. And the story of Walt Disney and his brother Roy overcoming every evil challenge to make Disneyland a thing. It is like the ultimate inspiration and it is the craziest entrepreneurial story. You didn't realize Roy Disney was part of the story, did you? Yeah, Roy came out of nowhere. So Tinkerbell, let's wave that wand and play part one of our latest episode of The Best Idea Yet on Disneyland.

1:15So Jack, what's your happiest place on earth? Nick, for me, it's got to be a mountaintop after an epic hike. I'm picturing you up at 5 ,000 feet right now, Jack. My backpack is full of an Italian sandwich and an ice cold drink. Meat lovers special. I always prepare myself with something to eat at the top of the mountain. You just burned a bunch of calories. You had a bunch of fun talking to whoever you were hiking with. And you just bask in the glory of the magnificent view and the accomplishment you just had. The top of a mountain is my happiest place. Jack, that is a beautiful physical image.

1:47I was going to go mental on this one. Psychologically, I was going to say 6 p.m. on a summer Friday. That's a happy place. I think Aristotle said that originally. I guess if I could choose a physical place, I'd say any restaurant with a table-side dessert preparation. Oh, good cop. Is there any happier place than to be sitting at the best seat in the house while your waiter whips up a Bananas Foster in front of the whole restaurant? Actually, there is. It's a place that has a trademark on the phrase, happiest place on earth. Literally. Because today, we're telling you the story of Disneyland. Walt Disney's Disneyland.

2:24Disneyland, the dream destination for kids everywhere and a magical touchpoint between Disney and its audience. Disneyland was the first Disney theme park, which today is the critical linchpin in Disney's$200 billion business. Since opening Disneyland in Anaheim, just outside Los Angeles, in 1955, the company has opened resorts in Florida, Japan, France, China, and coming soon, Abu Dhabi. But for many Disney fans, the original in California isn't just the first, it's still the best. As East Coasters, we're partial to Orlando, but Anaheim, yeah, that's the OG. Dreamt up by Walt Disney himself, Disneyland welcomes around 17 million visitors a year, all lining up for a Mickey Mouse selfie, a Dumbo flight, and to drop$9 for mouse-shaped pancakes.

3:12Disneyland is so big, it even has its own zip code. And Disney's entire theme park division generated$34 billion in revenue last year. Chad, could you sprinkle on some context for us, please? That's nearly the same revenue as Starbucks' entire business. And it's enough to keep Harvard University running for six straight years, baby. This colossal success story actually started as a modest idea in Walt Disney's head. A small eight-acre park built more for picnics than parades. And almost no one thought that it would work. But after the idea ballooned to 160 acres, it was still built in a shockingly short time frame, under 12 months plus.

3:53Disneyland's opening day was a disaster, watched by 90 million Americans on live TV. From sinking riverboats to melting streets, this is the story of how a down-on-his-luck animator built the most beloved and lucrative theme park empire in the world. Hey, Tinkerbell, grab me a pot of that pixie dust. Here's why Disneyland is the best idea yet.

4:22From Wondery and T-Boy, I'm Nick Martell. And I'm Jack Cravici-Kramer. And this is The Best Idea Yet. The untold origin stories of the products you're obsessed with. And the bold risk-takers who made them go viral.

4:42We got it coming to you. I got that feeling again. They changed the game in one move. It's how they broke all the rules.

5:02Walt Disney is sitting on a bench at Griffith Park, just north of downtown Los Angeles. He flashes a tired smile to his two daughters, 14-year-old Diane and 11-year-old Sharon, who are spinning happily on the merry-go-round. It's a Saturday. The sun is out. Kids squeal with delight. Parents lean on the fence rails with paper cups of coffee. And Walt, even though he's surrounded by joy, doesn't feel any of it. Because at this point in his life, Walt Disney is in a dark place. This isn't scrappy up-and-coming Walt. This is 1947, and Walt's already beaten the odds. He's escaped a hard childhood in rural Missouri, dropped out of high school, started an animation studio, and filed for bankruptcy, all before moving to California.

5:47And it's in California where he creates Mickey Mouse and revolutionizes animation with a mini-film called Steamboat Willie. Then, in the biggest gamble of his career, he bet his entire movie studio on a full-length $1.5 million animated feature. 1937's Snow White and the Seven Dwarfs. That movie changes everything, Nick. It's a critical smash hit, a box office juggernaut, and an Academy Award winner. Now, we should point out there were some strong follow-up films like Fantasia, Dumbo, Bambi. I mean, we look at them as classics now, Jack. But they weren't enough to keep Disney out of the money troubles that came thanks to World War II.

6:29Back in 1940, facing crippling debt, Walt had made an aggressive financial bet. He jumped from La La Land to Wall Street by selling stock in the company, which means Walt gave over control of Disney to shareholders. Then to juice up the company's profits, the board cut animators' wages, which leads to an ugly five-week-long strike. And now, in 1947, his studio is over$4 million in debt. He doesn't have control of the company, and he's still in shock that his flying elephant Dumbo was not a box office hit. For the second time in his life, it looks like Walt's studio is bankrupt. It's been years since Walt picked up a pen to animate himself.

7:10He mostly drifts around the studios in his bathrobe, chain-smoking and stewing in silence. He actually looks 10 years older than he really is, which is 46. Walt rarely socializes, although he keeps these regular weekend outings with his kids for the joy of it. But on this particular day in Griffith Park, something shifts. Walt is sitting on that bench, watching his daughters laughing on the carousel, and that's when it hits him. What if there was a park where families could have fun together? A place with rides and music, and maybe Disney characters, but on an entirely unprecedented scale. Designed like a movie set.

7:46Yeah, like Jack, where the adults didn't have to sit on a bench. They could be in the story too. This isn't totally a new idea to Walt. He actually gets tons of fan mail from kids asking to visit his actual working studio in Burbank, California. But between the surprise success of Snow White and the lean war years, nothing happened with that idea. Until now. As the carousel slows and the ride ends, Walt holds his daughter's hands and walks them back to his big light blue Cadillac convertible. As he drives away, his mind races. He's already sketching ideas out in his head. A sculpted, idealized slice of the small-town America of Walt's youth.

8:31It's time to build Mickey Mouse Park.

8:38Fifteen acres of lantern-lit pathways, puppet theaters, dappled cafes, and a pirate ship bobbing in the lagoon. A snow-capped roller coaster winds through the trees. Every path leads to a new surprise. And the salted codfish fritters taste pretty good too. This is Tivoli Gardens, one of the biggest tourist attractions in Copenhagen, Denmark. It's clean, it's charming, it's heavily curated. Every element part of a grand design. And this isn't lost on one of today's visitors, Walt Disney. Walt is here with his wife Lillian on their 1951 summer tour of Europe. It's meant to be a celebration break because things are starting to look up for Walt in his studio.

9:18A celebrate the wins kind of trip. Now remember, Eddie, that$4 million debt we were just telling you about? Well, Disney's accountants want to slash production to save money. But instead, Walt insists on doubling down on a new big production, Cinderella. And when it comes out in 1950, it's such a success that Cinderella basically saves Disney no pumpkin carriage needed. So, with the immediate future of Disney secure, Walt and Lillian are in Copenhagen. But instead of relaxing, Walt turns the trip into a working holiday. At Tivoli, he's scribbling in his notebook, analyzing everything. How people move, where they pause, what catches their eye.

9:59He counts the number of steps between attractions. He notes the number of benches, restrooms, even how close trash cans are to each other. Nothing escapes Walt on this trip. When Walt gets back to California, something's lit a supercalifragilisticexpire under Walt. He's doodling constantly, scribbling on napkins, marking up maps. He barely even goes out to parties. Oh, and when he does, all he talks about is the park. And the park he's envisioning, it's modest in his mind. Maybe eight acres or six football fields. But the scope is bigger, full of charm and detail. A train is circling the property.

10:38Costumed characters, a pristine little town square and winding paths. The cleanliness, the sense of discovery. That's what Walt is picturing. Walt wants families to feel like they're inside a living storybook. A place where kids and parents can explore together. He's taking inspiration from some homegrown attractions like Fairyland in Oakland, Knott's Berry Farm in Orange County, Colonial Williamsburg in Virginia, and the Smithsonian in D.C. But there is one person who Walt needs to win over before he can start making this happen. The man who signs the checks at Disney. It's a guy named Roy. Roy Disney.

11:16That's right. Walt needs permission from his older brother. It's a cool overcast morning on the Disney lot in Burbank as the studio's president, Roy Disney, pulls his Buick into his reserved parking spot and shuts off the engine. He steps out in his usual uniform, moderately priced suit, tie, felt hat. Definitely not a bathroom. Roy takes the stairs up to his second floor office, greeting everyone he meets on the way with a smile. When he gets to his office, his secretary hands him a stack of pink message slips, each watermarked with a grinning Mickey Mouse and the phrase, put a smile on your voice.

11:55Roy co-founded the Walt Disney Company with his younger brother, Walt, and he's been managing the books ever since. It's a role that just suits him. While Walt dreams big, Roy keeps things grounded. He's the pragmatist, the realist, the logical yin to Walt's wildly imaginative yang. In fact, Roy is so risk-averse, he preemptively had his appendix removed just in case. Roy's job is basically to rein in Walt's outlandish ideas. But even Roy has to admit, Walt's not always wrong. Take Cinderella, for example. That huge gamble ultimately saved the company. And it was all Walt's idea. But even so, Jack, Walt's latest idea, this Mickey Mouse Park, is just too much for Roy.

12:38Sure, the princess picture paid off, but that was the company doing what it does best, making movies. At best, this park will be a distraction from that. At worst, it could turn into a financial black hole of delays, cost overruns, and disappointing attendance that could put them back in jeopardy. It's June 1953, and Roy is nearly 60. He's starting to think about retirement. But right now, long, lazy days spent fishing and sipping old fashions, they're a distant dream. Because aside from Walt's theme park idea, Roy has more pressing issues on his mind. You see, Roy just finished renegotiating Walt's contract because Walt Disney, the guy with his name on the building, doesn't technically run Walt Disney Productions.

13:25Remember when the company had to go public to raise money? Well, that meant that the Disney brothers sold most of the stock in the company to investors. The Disneys went from owning 100 % of the company to just 20%. These two need to ask the board permission for everything, including the size of their own paychecks. Walt is basically under contract to his own company. He licenses his name, he draws a salary, he gets a cut of the profits, and in return, he gets to keep dreaming. But for Roy, this causes nothing but friction. Because Roy is stuck in between his brother, the dreamer, and the board.

13:59And that's not Roy's only headache right now. Disney's next animated feature, Lady and the Tramp, is delayed. It was supposed to hit theaters in time for Christmas 1954, but now it's slipping into next summer, meaning a two-year gap since the last Disney feature, Peter Pan. So Roy knows he needs to do something to make a splash soon. He's just not sure what. But right then, Roy's train of thought is cut short. The phone on his desk buzzes. It's his secretary. She's got Walt on the line. Roy braces himself for another stream of new and expensive ideas for the Mickey Mouse park. What was the last idea?

14:35An actual castle modeled after a real castle in the German Alps. But fortunately, Walt's not calling to sell his big brother on Bavarian battlements. In fact, he's actually calling about two new friends of his that Roy just has to meet. These two guys are named Woody and Buzz, and they have a proposal that'll take Walt's Mickey Mouse park idea to infinity and beyond.

15:07Roy Disney is once again looking at one of his brother's hand-drawn maps. But this time, instead of being frustrated, he's mesmerized, partly because the map is physically enormous. six feet by four feet, but mostly because the idea has grown with it. The modest eight-acre Mickey Mouse park that Walt once pitched, gone. In its place, a sprawling 160-acre world of its own. It's Disneyland. And yet, Jack, even at this scale, it still feels intimate, rooted in Walt's original vision of a nostalgic hometown America. In this 1954 map, it actually looks a lot like the Disneyland we know today. You enter under a train station, pass through one of two tunnels, and suddenly you're on Main Street, USA.

15:56All quaint storefronts turn-of-the-century charm in the scent of buttered popcorn in the air. There are laid-back lagoons, lush trees, and paths that curve just enough to make you wonder what's around the bend. But here's where it goes from nostalgia to pure fantasy. There's that towering Bavarian castle at the center, and and surrounding it are four separate lands. There's Wild West-themed Frontierland, the jungle explorations of Adventureland, a sleek sci-fi vision in Tomorrowland, and the storybook magic of Fantasyland. There's a Mark Twain riverboat, a life-sized rocket ship, and a huge hot air balloon, all dreamed up by Walt as a way to keep the experience fresh at every turn.

16:42The detail in this map is exquisite. down to the cobblestone. But why has Walt supersized his park by 2 ,000 % onto a map the size of a truck? Well, the answer lies in two new characters in our story, Woody and Buzz. Yes, this is Woody and Buzz, but no, they're not the inspiration for the Toy Story characters. That's Western actor Woody Strode and second man on the moon, Buzz Aldrin. And these guys, they're not quite as exciting as pairing a real-life cowboy with a real-life space ranger. But Commodore Vanderbilt Woody Wood and Harrison Buzz Price are the reason why Roy Disney is now 100 % behind the idea for Disneyland.

17:24Walt hires these two to do a feasibility study. Not just can we build this, but where should we build it? And how big does it need to be to make money? And Jack, what is Woody and Buzz's answer to that question? This park needs to be way bigger than Walt had imagined. Yeah, when you break down the numbers here, it needs to be big enough to handle 5 million visitors a year. Because anything smaller just isn't worth the investment. They will not make their money back. And their data, clean, compelling, and full of cost curves, isn't a language that risk-averse Roy understands. It wins them over.

17:57Just think, Nick. Disneyland might have ended up a charming little cul-de-sac in Burbank. But now Woody and Buzz also find the ideal spot for this new park. It's a sleepy stretch of orange groves in Anaheim, California. This is still when Orange County was actually covered in orange trees. When the real housewives there were feuding over casserole recipes, not cosmetic surgery. Location, location, location doesn't just apply to restaurants. It applies to every industry. The land is about 40 minutes south of Los Angeles. So it'll capture tourists landing in LAX pretty easily. Also, this is real estate that is cheap.

18:33So it's financially doable. And it's in a location that is sunny, which maximizes the number of days that visitors can spend money at the park. And finally, most crucially of all, this theme park would be right next to a new freeway, the under construction Interstate 5. To handle 5 million people a year, they've got to get in and out quickly. Walt wants to move fast on acquiring this perfect spot of land. So he makes this personal. He borrows money against his life insurance, sells some of his vacation homes, and makes the purchase himself. Now he's got the acreage, he's got the detailed plan, he's got Woody and Buzz's projections, and most importantly, he's got Roy on board.

19:13Roy is now the Timon to Walt's Pumbaa. But Jack, it's not time to start singing Hakuna Matata Koi yet. Because unfortunately for the Disney brothers, they're still short the cash needed to actually build the park. Roy's getting nervous again. Yeah. But Walt actually has a plan. to get funding for the park, build a publicity buzz, and get Disney a foothold in the fast-growing world of television. Lights, camera, action. Here's a little TV tea for you. Between 1948 and 1953, ownership of TVs in America explodes from 1 % of homes to over 50%. TV is one of the quickest technology adoptions in history.

19:58That's faster than the iPhone. Oh, and movie attendance, it's dropping every year. TV has become an existential threat to the entire film industry. But Walt is unique in Hollywood because he is bullish for the small screen. He sees it as an untapped opportunity. He thinks TV is the perfect way to sell the idea of Disneyland because it's a direct message to the public. So he asks, what if they make their own weekly TV show? Something to build anticipation for the park in a deeper way than any form of advertising ever could. And this show would be called Walt Disney's Disneyland. It would show behind the scenes of the design, the development, and the creativity behind all of the construction.

20:43Episode 1 would be the idea for Disneyland. Episode 2, the map and the layout. Episode 3, the creative process to develop the ideas. This Disneyland show will air in real time as the construction is happening, not after the fact. Walt doesn't just want to sell the show to a TV network. He wants to sell an investment in the park to that network as well. The network gets some Disney content on their screens, exclusive access to the making of Disneyland, and an unmissable opportunity to be a Series A investor in the park. In return, the Disney brothers get the cash needed to actually build the thing.

21:21This is potentially the best match since Beauty met the Beast This one is fairy godmother approved, Jack

21:32Yetis, we're pressing stop right there What is Disneyland's day one gonna look like? Oh my! Don't throw the magic, Nick Yetis, that was part one and tomorrow we're dropping part two So stay tuned and come back right here to T-Boy tomorrow as usual To hear the whole story of Disneyland Nick and I will see you tomorrow. Can't wait. I guess I should clarify, this is Jack out on Stock at Disney.

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