Nike, every mention
627 scenes, the whole family · ← back to Nike
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every year anyone Ben Gilbert 342David Rosenthal 269Jim Weber 6Michael Lewis 3Mark Zuckerberg 2Charlie Munger 2David Senra 1Brendan Eich 1
Verbatim, from the transcripts: the passages where Nike comes up
Vanguard: The communist capitalist who saved investors a trillion dollars (Audio) · Acquired
- ▶ 1:30 Ben Gilbert General Motors, Nike, Starbucks, Lockheed Martin, Visa, Apple,
- ▶ 3:37:36 Ben Gilbert So think Nvidia, Amazon, Meta, TSMC, Nike.
- ▶ 3:44:11 Ben Gilbert I was thinking it was, um, like I bought the Nike Kirkland Signature shoes because I had to.
The NFL: How small-town teams became America's most valuable sports empire (Audio) · Acquired
- ▶ 3:09:13 Ben Gilbert Apparently, LeBron James has signed some secret deal with Nike for the rest of his lifetime that's something crazy high that is just not even accounted for in these numbers.
10 Years of Acquired (with Michael Lewis) · Acquired
- ▶ 1:49:45 David Rosenthal So we made Costco, uh, in the back half of 20, 23, but it was one or two episodes after we made Nike.
- ▶ 1:49:54 David Rosenthal Nike, I think ended up being a fine episode, but
- ▶ 1:49:58 David Rosenthal I tried way too hard, like, way too much pressure on myself, I want to speak for you, on, on the Nike episode, and it, it, uh, it came out flat.
- ▶ 2:38:32 Michael Lewis Nike basically blew it, right?
- ▶ 2:38:34 Michael Lewis They let these, they let, they let, they let, they got rid of their stores.
- ▶ 2:38:37 Michael Lewis They thought it's all going to be online and on and Hoka roll in and I'm a little torn, but not that torn.
Coca-Cola: The Complete History & Strategy (Audio) · Acquired
- ▶ 3:50:34 Ben Gilbert Two is my current favorite running shoes are the Nike Vomero Plus, which seems to be the replacement for my previous favorite, the Invincible line.
Trader Joe’s: Hawaiian shirts and counter positioning (Audio) · Acquired
- ▶ 2:03:17 Ben Gilbert Maybe Nike.
- ▶ 2:03:19 David Rosenthal Yeah, maybe Nike.
The Steve Ballmer Interview · Acquired
- ▶ 1:40:19 Ben Gilbert He started Next.js, which is one of the world's most popular open source frameworks used by folks like Walmart, The Verge, Nike, Hulu, Anthropics, Claude, the list goes on.
Epic Systems (MyChart) · Acquired
- ▶ 3:11:08 Ben Gilbert Nike's heyday was when a guy who started in sneaker design ended up running the company, Mark Parker.
Indian Premier League Cricket (Audio) · Acquired
- ▶ 37:33 David Rosenthal Buying, oh, I don't know, Nikes and Reeboks.
- ▶ 37:47 David Rosenthal I think some of the individual cricketers had had some super cheap early deals with, you know, Nike or Reebok or whatever.
- ▶ 37:55 David Rosenthal Lalit goes to the three big companies, Nike, Adidas, Reebok, and says, hey, I'm putting out for bid for auction, being the kit provider, the gear provider, kit being the British term for athletic gear.
- ▶ 38:20 David Rosenthal So Nike comes in and wins at fifty-two million
- ▶ 1:10:42 David Rosenthal Lala calls up Nike before they leave South Africa, and he's like, I need open air tour buses for the team, for the whole retinue.
Rolex (Audio) · Acquired
- ▶ 2:25:20 David Rosenthal I mean, I don't think the Federer Rolex relationship is quite like a Michael Jordan Nike relationship, but it's in that next tier of great athlete partnerships, and there's a couple really interesting things about golf and tennis…
Meta (Audio) · Acquired
- ▶ 5:53:57 Ben Gilbert Microsoft, Nvidia, Nike.
Acquired LIVE from Chase Center (with Daniel Ek, Emily Chang, Jensen Huang and Mark Zuckerberg) · Acquired
- ▶ 1:18:22 Mark Zuckerberg I kind of, I kind of think my, you know, like that old Nike Michael Jordan ad where he's talking about how he's failed over and over and over again, and that's how he succeeds.
The Mark Zuckerberg Interview · Acquired
- ▶ 10:05 Mark Zuckerberg I kind of think my, you know, like that old Nike Michael Jordan ad where he's talking about how he's failed over and over and over again, and that's how he succeeds.
Chase Center + Summer Update (Audio) · Acquired
- ▶ 4:17 Ben Gilbert David Lidsky's wonderful piece in Fast Company last year, following the production of the Nike episode, really dives into
Renaissance Technologies (Audio) · Acquired
- ▶ 3:03:17 Ben Gilbert So after our Nike episode, the President of Cole Haan, which, if you listen to the episode, you now know is its own company, spun out from Nike years ago, the President of Cole Haan reached out, and it turns out he, like all of you, is…
Hermès (Audio) · Acquired
- ▶ 1:09:18 Ben Gilbert A fifteen-year-old company would be bigger than Nike or Pfizer soon was insane.
- ▶ 1:56:23 David Rosenthal But also what you're talking about, you know, with echoes of our Nike episode here, the minute that you are in possession of a Birkin bag, you could immediately sell it for a lot more than what you paid for it.
- ▶ 2:00:05 David Rosenthal This is the same dynamic with, I think, a very different set of motivations as we talked about on the Nike episode.
- ▶ 2:00:14 David Rosenthal I very firmly believe that Nike could sell many of their shoes for two, three, four, five times the price that they do, and they'll
- ▶ 2:00:25 David Rosenthal Show up on Goat or StockX all the time regularly at higher prices than Nike releases them for.
- ▶ 2:00:32 David Rosenthal I believe that the reason that they do this is to maintain goodwill with their customer base and maintain Nike's image as a brand that is accessible to everyone.
- ▶ 2:24:00 Ben Gilbert This is like the weird stuff going on at Nike when they were buying, you know, Converse was the good example, but
- ▶ 3:33:28 Ben Gilbert And Nike has done this a number of times to sort of say, like, we think we're gonna come out the other side, and we think they're gonna get through this.
Holiday Special 2023 (Audio) · Acquired
- ▶ 2:22 Ben Gilbert We're just gonna do a lot of LVMH, NFL, uh, Visa, Costco, Nike, and the, you know, mixed in there.
- ▶ 14:07 David Rosenthal Is that those stories and studying the LVMHs, the Costcos, the Nikes of the world, if anything, that's like even more important than studying the great technology companies for building a great technology company.
- ▶ 14:54 Ben Gilbert But with LVMH, with Costco, maybe with Porsche, certainly with Nike,
- ▶ 16:14 David Rosenthal Nintendo, Lockheed, Porsche, Nike, Costco, Nvidia part three, and then Visa.
- ▶ 22:31 David Rosenthal To not bury the lead, my favorite episode was Nike.
- ▶ 23:03 David Rosenthal And I don't think Nikki was bad.
- ▶ 23:12 David Rosenthal And emotional concern and stress heading into Nike was the peak that it has ever been about an acquired episode.
- ▶ 27:05 David Rosenthal So that's why Nike is my favorite episode.
- ▶ 30:31 David Rosenthal It was Nike.
- ▶ 42:25 Ben Gilbert You know, we have seen just as many people, 92 days later, which is what today is, referencing the Jensen interview that we would see referencing the Nike episode, 92 days later.
- ▶ 1:29:14 Ben Gilbert Mine might be a pair of Nike shoes.
- ▶ 2:21:06 Ben Gilbert He actually suggested LVMH, good thought partner on Nike.
Visa (Audio) · Acquired
- ▶ 7:57 David Rosenthal We talked about this a lot in the Nike episode.
- ▶ 1:32:23 David Rosenthal I mean, Nike was so great.
Charlie Munger (Audio) · Acquired
- ▶ 32:16 David Rosenthal Japanese trading companies reminds me, we studied another company recently, Nike, that is, was surprising to me.
- ▶ 32:22 Charlie Munger That's a very different company.
- ▶ 32:23 David Rosenthal Yeah, did you ever look at it?
- ▶ 32:25 Charlie Munger Well, of course, I've looked at it, but I don't like style companies.
Costco (Audio) · Acquired
- ▶ 3:36 Ben Gilbert Their store brand, Kirkland Signature, does more revenue alone, not including anything else in the store than all of Nike.
- ▶ 4:04 Ben Gilbert But their fifty-two billion a year that they sell, which inches by Nike by just about a billion dollars, doesn't even include the Kirkland Signature Gas.
- ▶ 1:31:16 David Rosenthal It's so funny, going back to our previous episode and Rob Strasser's, 10 principles at Nike, and like, on the one hand, the Nike principles and the Costco principles are about as far apart as you could imagine.
- ▶ 1:31:29 David Rosenthal On the other hand, Rob Strasser, Nike principle number 10 is, if we do the right things, we'll make money damn near automatic.
- ▶ 2:11:57 David Rosenthal I feel like there is such a resonance between Costco and Nike, even though on the surface they're so different.
- ▶ 2:12:07 David Rosenthal But I really think Nike has incredible brand power, but they choose not to use it to increase their margins.
- ▶ 2:18:33 David Rosenthal And it's kind of like the Nike athletes wearing the shoes on the cover of Sports Illustrated sort of thing.
- ▶ 2:19:41 Ben Gilbert There's this kind of interesting thing where it's almost like Nike, where I think they have latent branding power.
- ▶ 2:26:32 Ben Gilbert Nike normally refuses to sell at Costco, because of course they do.
- ▶ 2:26:36 Ben Gilbert They're Nike.
- ▶ 2:26:46 Ben Gilbert Nike can't really discount anywhere.
- ▶ 2:26:47 Ben Gilbert I guess they have their, like, Nike outlets, but for the next couple of years, they're gonna be moving a lot of merchandise through Costco because, you know, it's Costco.
- ▶ 2:26:58 Ben Gilbert This isn't just, like, whatever the psychology is, Nike is actually willing to sell through Costco until they work through these inventory challenges, and then I'm sure that they won't do business with Costco again for a while, but even…
- ▶ 2:59:52 David Rosenthal LPs chose Nike, our most recent episode before this one.
- ▶ 3:00:14 Ben Gilbert Lots and lots of time, basically tracking us as we were preparing the Nike episode.
Nike (Audio) · Acquired
- ▶ 0:52 Ben Gilbert Well, today we have literally the perfect case study in that very question in Nike.
- ▶ 0:58 Ben Gilbert Does breakthrough innovation drive that business, or is their core competency really around their profound advertisements and their sponsorship deals with athletes and teams, or their probably best-in-the-world brand positioning?
- ▶ 1:12 Ben Gilbert To understand it, we have to examine Nike's entire sixty-year history, of course, because this is acquired,
- ▶ 1:22 Ben Gilbert So really, the question is, what makes this company the single largest apparel business in the world today, outside of luxury, of course, and how is it possible to be a shoe company that does over fifty billion dollars in revenue when they…
- ▶ 1:40 Ben Gilbert So you may think you know Nike from the movie Air or Shoe Dog, but what hasn't been told is how those old stories
- ▶ 1:46 Ben Gilbert Tied to the gigantic shift in strategy that Nike is really in the middle of right now.
- ▶ 2:53 David Rosenthal Oh my god, I think Amazon owes a thank you note to acquired LPs, because I bought every Nike book out there.
- ▶ 3:01 David Rosenthal I mean, my six foot long desk is covered in Nike books.
- ▶ 3:14 David Rosenthal But there are three books that all basically tell more or less the same story that we weave together to come up with our core acquired Nike story here today.
- ▶ 4:02 David Rosenthal So he wrote kind of the canonical third-party journalist take on Nike.
- ▶ 4:36 David Rosenthal Is Rob Strasser, Nike's legendary first head of marketing.
- ▶ 4:43 David Rosenthal An item among many that is not discussed in the movie is that Rob, shortly after signing Jordan, had an enormous fight with Phil Knight, left the company with Peter Moore, who was the designer behind Jordan's, and ended up joining Adidas…
- ▶ 5:10 David Rosenthal I mean, to say he was persona non grata around Nike is, uh, understatement of the century, and here is this book that was written in real time by his wife as this was all happening.
- ▶ 5:22 Ben Gilbert So, Strasser, we'll get into his contributions, but he is probably second only to Phil Knight in willing Nike into existence.
- ▶ 5:47 David Rosenthal Now, Bill was a legendary figure, in addition to being Nike's co-founder, along with Phil Knight.
- ▶ 9:43 David Rosenthal This does not seem like the founder and CEO of Nike, you know, even here talking at Stanford, the most warmly receptive audience possible, like, he was very nervous.
- ▶ 10:20 David Rosenthal And part of this famously for the Nike story, too, was technology and was shoes.
- ▶ 10:50 Ben Gilbert He would rip shoes apart, and he would rebuild them, this is from the Nike website, with snake skin, deer hide, or fish skin.
- ▶ 11:31 David Rosenthal Nike feels like such a modern company.
- ▶ 11:45 David Rosenthal I mean, today there's like a hundred different entrepreneurship courses taught by the famous professor Frank Schallenberger, who Knight gives tons of credit to for Blue Ribbon Sports and ultimately Nike.
- ▶ 19:41 Ben Gilbert And this unbelievably competitive spirit is the founding element of Nike's culture that permeates to this day.
- ▶ 19:50 Ben Gilbert At Nike, you play to win.
- ▶ 19:52 Ben Gilbert And I think everyone shows up to work and you wear Nike stuff and you
- ▶ 20:16 Ben Gilbert But Nike is among the most competitive cultures in the world.
- ▶ 20:21 David Rosenthal It's funny you say Nike there as sort of founding principles.
- ▶ 20:24 David Rosenthal Because Nike isn't gonna come for quite a while here.
- ▶ 23:17 David Rosenthal He's also completely wrong on what it would become in the other direction, thanks to Blue Ribbon and Nike.
- ▶ 27:45 Ben Gilbert And so, let's just take a quick pause and recognize this company that would eventually become Nike started A, not as Nike, B, not with a swoosh, C, not making a product
- ▶ 30:24 David Rosenthal Well, and if Phil doesn't do this deal, he would have a hundred percent of Phil Knight's Blue Ribbon Sports.
- ▶ 30:31 David Rosenthal But he does do the deal, and he gets 51% of Bill Bowerman's Blue Ribbon Sports, which is a completely different animal.
- ▶ 31:05 Ben Gilbert And as part of the research, I stumbled upon this guy named Scott Reams, who was formerly a Nike historian.
- ▶ 31:12 Ben Gilbert He worked in the marketing department and then for over 20 years worked at Nike and became the company historian.
- ▶ 31:27 Ben Gilbert Based on letters in the University of Oregon and Nike archives, Bill Bowerman corresponded directly with many footwear manufacturers in the 19 fifties, so like 15 plus years before this, including Adi Dassler, directly to Adi Dassler,…
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