Jonas's "mind-reading" trick, wherein he receives intimate details about his marks via a small radio, loosely follows the exploits of televangelist Peter Popoff, who performed a very similar trick with his wife at the microphone. Popoff's career took a nosedive when he was publicly "outed" on the Johnny Carson show by professional magician and skeptic James Randi, who had managed to smuggle a radio scanner into one of Popoff's revival meetings.
Steve Martin took over the lead role after Michael Keaton quit the production. Producer Daniel Melnick was another to walk, reputedly over money tussles with Paramount.
Just before their first show, Jonas says "always look better than they do," a comment on his fancy suit. In his autobiography, Born Standing Up, Steve Martin recalls this as the best performance advice he received as a young performer and led him to wearing his trademark white suit.
The song that Jonas is listening to in his car is "Paradise by the Dashboard Light," sung by Meat Loaf. Meat plays the part of the bus driver, Hoover, in the movie.
The movie was adapted into a Broadway musical in 2012. Featuring music by Alan Menken, it ran only 19 performances (plus 25 previews).