Then Again… Toby Jug, Anyone?

I’ve collected a lot of things over my career — business cards, term sheets, airline miles. But this one’s different.

“Everyone knows I’m in over my head.” — The Fray

Steve Mullins interviewed me when I applied to Dartmouth. Class of ’54. His office had dark green walls, and he wore a dark green sport coat — Dartmouth green, of course.

Throughout college and long after, Steve stayed in touch. When I moved back to Chicago, we had dinner every month for more than a decade as part of the Dartmouth Club leadership team.

🎭 Steve had a thousand interests. He was close with several Broadway producers and would buy 100 tickets for the Club whenever a new show began its preview run in Chicago. Thanks to him, I saw Hamilton, Book of Mormon, and Wicked before the rest of the world.

🏺He also had one of the most unusual collections I’ve ever encountered — 12,000 Toby Jugs, to be exact. What’s a Toby Jug, you ask? Yep, I asked the same thing.

He had so many that he opened the American Toby Jug Museum in Evanston, Illinois, to house them all.

Steve passed away in 2019, and I spoke at his funeral. He had a profound impact on my life — in ways large and small. Apparently, the feeling was mutual.

Last week, I met with his wife and two daughters. They told me that one of Steve’s wishes was for me to become the caretaker of his collection.

💭 Never in my wildest imagination did I think I’d be the curator of the world’s largest collection of… anything.

Now, I’ve managed portfolios, deals, and due diligence binders the size of Manhattan phone books — but 12,000 ceramic mugs with faces on them? That’s a new asset class.

Still, I’ve never been one to shy away from a curious opportunity. So, after some thought (and a quick Google search for “how to insure 18th-century chinaware”), I said yes.

While the museum has closed, I’ll make sure these Toby Jugs find new homes — in museums, storefronts, and private collections around the world. 🌎

There are a few lessons in all this.

Listen. Be a friend. Be present — for people, for colleagues, for family. You never really know the impact we have on each other’s lives.

I could have said, “thanks, but no thanks.”

But then again… Toby Jug, anyone?