Ruth, Barbie, & Families; A Cautionary Tale
Robin Gerber has written a tour de force book called Barbie and Ruth. It's the story of Ruth Handler, the founder of Mattel--and the dreamer/imagineer of Barbie.
In the shadow of the Barbie movie, it may look like another commercial add-on taking advantage of Barbie hype. It is not. Gerber has written a vital business book, a case study of a company started by a woman that became a billion-dollar behemoth. a history book, and, perhaps most importantly, an insightful story—and cautionary tale of a family and a family business.
This book is not about the HCS Family (writ large:). Rather it is a portrait of what happens when family education and governance are left out of the family experience.
This under-hyped book stands toe to toe with Isaacson's over-hyped tale of Elon Musk and should be required reading for every MBA student, anyone growing up in and /or leading a family business, every woman just starting their own entrepreneurial journey--and anyone who has ever had an opinion about Barbie. Gerber's research is extensive and meticulous. She's uncovered and illuminated a story that began in the mid-1950s and continues to have impact today. If you watched the movie and wondered what became of the real Barbie, the 'rest of the story' is revealed in Robin's book.
Handler's journey was riveting and familiar; heart-breaking and inspiring; instructional and cautionary; filled with hubris and drama. And oh so human. And Gerber is a masterful story-teller (on stage and on the page). I could not put the book down.
What makes this book relevant is that, though family governance and education are demanding, expensive (sometimes annoying) elements of the family experience, the dividends paid when they are core to a family’s shared values, are priceless. Ruth Handler—Barbie--and the Handler family were growing in an era that Dennis Jaffe, et al would describes as Wealth 1.0. The tragedy(ies) of their family had much to do with lack
of awareness and "not yet invented" resources that could have made her (and their) experience very different.