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Nike's CEO Shakeup: What It Means for Sneaker Culture · Fire Footwear: Sneakers Talk (with Matt Frates)

• 0:00
  Nike
• 0:00
  has
• 0:01
  changed
• 0:01
  its
• 0:01
  CEO
• 0:02
  and
• 0:02
  stock
• 0:02
  prices
• 0:03
  have
• 0:03
  soared.
• 0:04
  Does
• 0:04
  it
• 0:04
  really
• 0:05
  matter?
• 0:05
  And
• 0:05
  what
• 0:05
  does
• 0:05
  it
• 0:05
  mean
• 0:06
  for
• 0:06
  the
• 0:06
  future?
• 0:06
  We're
• 0:07
  going
• 0:07
  to
• 0:07
  discuss
• 0:07
  it
• 0:07
  this
• 0:08
  time
• 0:08
  on
• 0:08
  fire
• 0:08
  footwear.
• 0:28
  Welcome
• 0:28
  back
• 0:29
  to
• 0:29
  Fire
• 0:29
  Footwear,
• 0:29
  everybody.
• 0:30
  As
• 0:30
  always,
• 0:30
  this
• 0:30
  is
• 0:31
  your
• 0:31
  host,
• 0:31
  Matt
• 0:31
  Fraitzen.
• 0:31
  I
• 0:32
  hope
• 0:32
  that
• 0:32
  this
• 0:32
  finds
• 0:32
  you
• 0:32
  well,
• 0:33
  and
• 0:33
  I
• 0:33
  want
• 0:33
  to
• 0:33
  thank
• 0:33
  you
• 0:34
  for
• 0:34
  coming
• 0:34
  back
• 0:34
  to
• 0:34
  this
• 0:35
  podcast.
• 0:36
  Over
• 0:36
  the
• 0:36
  last
• 0:36
  couple
• 0:36
  of
• 0:37
  weeks,
• 0:37
  we've
• 0:37
  seen
• 0:38
  a
• 0:38
  little
• 0:38
  bit
• 0:38
  of
• 0:38
  a
• 0:38
  surge
• 0:39
  in
• 0:39
  new
• 0:39
  listeners
• 0:40
  and
• 0:40
  new
• 0:41
  consumers
• 0:41
  of
• 0:41
  the
• 0:41
  content.
• 0:42
  So
• 0:42
  I'm
• 0:42
  always
• 0:42
  flattered
• 0:43
  by
• 0:43
  that,
• 0:43
  always
• 0:43
  humbled
• 0:44
  by
• 0:44
  that.
• 0:44
  So
• 0:44
  thank
• 0:45
  you
• 0:45
  very,
• 0:45
  very
• 0:45
  much.
• 0:46
  And
• 0:46
  also
• 0:46
  at
• 0:47
  the
• 0:47
  top,
• 0:47
  I
• 0:47
  should
• 0:47
  mention
• 0:48
  I
• 0:48
  was
• 0:49
  able
• 0:49
  to
• 0:49
  record
• 0:49
  with
• 0:50
  some
• 0:50
  new
• 0:50
  friends,
• 0:50
  this
• 0:51
  time
• 0:51
  from
• 0:51
  Canada,
• 0:51
  the
• 0:52
  in
• 0:52
  kicks
• 0:52
  we
• 0:52
  trust
• 0:53
  podcast.
• 0:54
  They
• 0:54
  were
• 0:54
  good
• 0:54
  guys.
• 0:55
  Trevor
• 0:55
  and
• 0:56
  Kevin
• 0:56
  were
• 0:56
  really
• 0:56
  gracious
• 0:57
  to
• 0:57
  have
• 0:57
  me
• 0:57
  on
• 0:57
  their
• 0:57
  platform.
• 0:58
  I
• 0:58
  had
• 0:58
  a
• 0:58
  great
• 0:58
  time.
• 0:59
  So
• 0:59
  hopefully
• 0:59
  that
• 0:59
  will
• 1:00
  be
• 1:00
  coming
• 1:00
  out
• 1:00
  soon.
• 1:01
  But
• 1:01
  always
• 1:01
  support
• 1:02
  the
• 1:02
  people
• 1:02
  who
• 1:03
  support
• 1:03
  me.
• 1:04
  Go
• 1:04
  to
• 1:04
  them
• 1:04
  on
• 1:04
  whatever
• 1:05
  podcast
• 1:05
  app
• 1:05
  that
• 1:06
  you
• 1:06
  use
• 1:06
  and
• 1:07
  type
• 1:07
  in
• 1:07
  in
• 1:07
  kicks.
• 1:08
  K
• 1:08
  I
• 1:08
  x
• 1:09
  we
• 1:09
  trust
• 1:09
  and
• 1:09
  hit
• 1:10
  follow,
• 1:10
  because
• 1:11
  honestly,
• 1:11
  we
• 1:12
  all
• 1:12
  need
• 1:12
  to
• 1:12
  support
• 1:12
  each
• 1:12
  other
• 1:13
  in
• 1:13
  the
• 1:13
  sneaker
• 1:13
  community.
• 1:14
  So
• 1:14
  Nike
• 1:15
  has
• 1:15
  changed
• 1:15
  their
• 1:16
  CEO.
• 1:17
  It
• 1:17
  was
• 1:17
  announced
• 1:18
  last
• 1:18
  week
• 1:18
  that
• 1:19
  John
• 1:19
  Donohoe
• 1:20
  was
• 1:20
  stepping
• 1:20
  down
• 1:21
  as
• 1:21
  Nike
• 1:21
  CEO
• 1:22
  and
• 1:23
  he
• 1:23
  was
• 1:23
  going
• 1:23
  to
• 1:23
  be
• 1:24
  replaced.
• 1:25
  And
• 1:25
  I
• 1:25
  think
• 1:25
  a
• 1:25
  lot
• 1:25
  of
• 1:26
  people
• 1:26
  felt
• 1:26
  a
• 1:26
  certain
• 1:27
  way
• 1:27
  in
• 1:27
  the
• 1:27
  sneaker
• 1:28
  world.
• 1:28
  But
• 1:29
  I
• 1:29
  wanted
• 1:29
  to
• 1:29
  talk
• 1:29
  about
• 1:30
  it
• 1:30
  a
• 1:30
  little
• 1:30
  bit
• 1:30
  because
• 1:31
  I
• 1:31
  think
• 1:31
  what
• 1:31
  has
• 1:31
  happened
• 1:32
  recently,
• 1:32
  and
• 1:32
  I
• 1:33
  think
• 1:33
  this
• 1:33
  happens
• 1:33
  because
• 1:34
  I
• 1:34
  believe
• 1:34
  that
• 1:35
  sneaker
• 1:35
  people,
• 1:36
  people
• 1:36
  like
• 1:37
  us,
• 1:37
  I
• 1:37
  think
• 1:38
  we
• 1:38
  kind
• 1:38
  of
• 1:38
  assume
• 1:39
  that
• 1:39
  companies
• 1:40
  like
• 1:40
  Nike,
• 1:41
  Adidas,
• 1:41
  Puma,
• 1:42
  all
• 1:42
  of
• 1:42
  those
• 1:43
  sneaker
• 1:43
  companies
• 1:43
  that
• 1:44
  are
• 1:44
  giving
• 1:44
  us
• 1:44
  the
• 1:44
  heat
• 1:45
  that
• 1:45
  we're
• 1:45
  constantly
• 1:46
  picking
• 1:46
  up,
• 1:47
  I
• 1:47
  think
• 1:47
  we
• 1:47
  assume
• 1:48
  that
• 1:48
  they
• 1:48
  exist
• 1:49
  to
• 1:50
  placate
• 1:50
  sneaker
• 1:50
  culture.
• 1:51
  You
• 1:51
  saw
• 1:52
  this
• 1:52
  whenever
• 1:52
  air
• 1:52
  came
• 1:53
  out
• 1:53
  in
• 1:53
  2023,
• 1:54
  a
• 1:54
  lot
• 1:54
  of
• 1:54
  people,
• 1:54
  a
• 1:55
  lot
• 1:55
  of
• 1:55
  sneakerheads
• 1:55
  were
• 1:55
  saying
• 1:56
  that
• 1:56
  there
• 1:56
  wasn't
• 1:56
  enough
• 1:56
  sneaker
• 1:57
  history,
• 1:57
  there
• 1:57
  wasn't
• 1:58
  enough
• 1:58
  for
• 1:58
  them,
• 1:59
  when
• 1:59
  really,
• 1:59
  the
• 2:00
  movie
• 2:00
  is
• 2:00
  not
• 2:00
  for
• 2:01
  you,
• 2:01
  the
• 2:01
  really,
• 2:01
  the
• 2:01
  movie
• 2:02
  is
• 2:02
  for
• 2:02
  the
• 2:02
  general
• 2:03
  public.
• 2:03
  And
• 2:04
  so
• 2:04
  Nike
• 2:04
  is
• 2:04
  one
• 2:05
  of
• 2:05
  those
• 2:05
  companies
• 2:05
  that
• 2:05
  I
• 2:06
  think
• 2:06
  falls
• 2:06
  into
• 2:06
  this
• 2:06
  category.
• 2:07
  And
• 2:07
  I
• 2:07
  honestly
• 2:07
  think
• 2:07
  they
• 2:08
  fall
• 2:08
  into
• 2:08
  this
• 2:08
  category
• 2:09
  more
• 2:09
  so
• 2:09
  than
• 2:09
  others.
• 2:10
  The
• 2:10
  reason
• 2:10
  being
• 2:11
  is
• 2:11
  because
• 2:11
  sneaker
• 2:12
  culture
• 2:12
  is
• 2:12
  so
• 2:12
  big
• 2:13
  now,
• 2:13
  but
• 2:14
  Nike
• 2:14
  does
• 2:14
  so
• 2:15
  much
• 2:15
  more
• 2:15
  than
• 2:15
  just
• 2:16
  make
• 2:16
  sneakers
• 2:17
  for
• 2:17
  sneaker
• 2:17
  culture.
• 2:18
  They
• 2:18
  didn't
• 2:19
  start
• 2:19
  out
• 2:19
  that
• 2:19
  way,
• 2:20
  and
• 2:20
  they
• 2:20
  certainly
• 2:20
  don't
• 2:21
  just
• 2:21
  do
• 2:21
  that.
• 2:22
  They
• 2:22
  do
• 2:23
  a
• 2:23
  lot
• 2:23
  of
• 2:23
  things.
• 2:23
  They
• 2:24
  provide
• 2:24
  athletic
• 2:25
  apparel,
• 2:26
  athletic
• 2:26
  gear
• 2:26
  for
• 2:27
  so
• 2:27
  many
• 2:27
  professional
• 2:28
  teams,
• 2:29
  the
• 2:29
  US
• 2:29
  Olympic
• 2:30
  team.
• 2:30
  They
• 2:30
  are
• 2:30
  an
• 2:30
  international
• 2:31
  brand
• 2:31
  that
• 2:32
  does
• 2:32
  so,
• 2:32
  so
• 2:33
  much.
• 2:33
  And
• 2:34
  so
• 2:34
  when
• 2:34
  the
• 2:34
  CEO
• 2:35
  gets
• 2:35
  changed
• 2:35
  over,
• 2:36
  I
• 2:36
  think
• 2:37
  it's
• 2:37
  obvious
• 2:37
  that
• 2:38
  a
• 2:38
  lot
• 2:38
  of
• 2:38
  people
• 2:38
  are
• 2:39
  missing
• 2:39
  the
• 2:39
  point
• 2:39
  that
• 2:40
  it's
• 2:40
  not
• 2:40
  just
• 2:40
  about
• 2:41
  what
• 2:41
  does
• 2:41
  it
• 2:41
  mean
• 2:41
  for
• 2:41
  sneaker
• 2:42
  culture.
• 2:42
  It
• 2:42
  means
• 2:42
  for
• 2:42
  a
• 2:43
  lot
• 2:43
  of
• 2:43
  different
• 2:43
  things.
• 2:43
  But
• 2:44
  I
• 2:44
  also
• 2:44
  think
• 2:44
  that
• 2:45
  there
• 2:45
  is
• 2:45
  sort
• 2:45
  of
• 2:45
  this
• 2:46
  unfair
• 2:46
  narrative
• 2:47
  going
• 2:47
  around
• 2:47
  sneaker
• 2:48
  culture
• 2:48
  about
• 2:48
  John
• 2:49
  Donohoe's
• 2:49
  leadership
• 2:50
  and
• 2:50
  about
• 2:50
  his
• 2:50
  time
• 2:51
  there.
• 2:51
  Because
• 2:52
  once
• 2:52
  again,
• 2:52
  there
• 2:52
  is
• 2:52
  this
• 2:53
  disconnect
• 2:53
  between
• 2:54
  what
• 2:54
  people
• 2:54
  think
• 2:55
  and
• 2:55
  what
• 2:55
  is
• 2:55
  actually
• 2:56
  the
• 2:56
  truth.
• 2:57
  And
• 2:57
  there
• 2:57
  are
• 2:57
  highs
• 2:57
  and
• 2:58
  lows
• 2:58
  to
• 2:58
  his
• 2:58
  leadership.
• 2:59
  And
• 2:59
  I
• 2:59
  think
• 2:59
  that
• 3:00
  it's
• 3:00
  only
• 3:00
  fair
• 3:01
  that
• 3:01
  we
• 3:01
  kind
• 3:01
  of
• 3:01
  go
• 3:01
  over
• 3:02
  some
• 3:02
  of
• 3:02
  those
• 3:02
  because
• 3:03
  many
• 3:03
  people
• 3:04
  are
• 3:04
  taking
• 3:04
  a
• 3:04
  Victory
• 3:05
  laugh
• 3:05
  thinking
• 3:05
  that
• 3:05
  this
• 3:06
  means
• 3:06
  that
• 3:06
  the
• 3:06
  company
• 3:06
  is
• 3:07
  going
• 3:07
  to
• 3:07
  be
• 3:07
  cool
• 3:07
  again.
• 3:08
  Let's
• 3:08
  be
• 3:08
  clear.
• 3:09
  John
• 3:09
  Donohoe
• 3:10
  is
• 3:10
  not
• 3:10
  in
• 3:10
  that
• 3:10
  position
• 3:11
  to
• 3:11
  keep
• 3:11
  Nike
• 3:12
  cool
• 3:12
  necessarily.
• 3:13
  He's
• 3:14
  there
• 3:14
  to
• 3:14
  make
• 3:14
  sure
• 3:15
  that
• 3:15
  a
• 3:15
  certain
• 3:15
  amount
• 3:16
  of
• 3:16
  people
• 3:16
  make
• 3:17
  a
• 3:17
  lot
• 3:17
  of
• 3:17
  money.
• 3:17
  That's
• 3:18
  himself
• 3:18
  included.
• 3:19
  And
• 3:19
  so
• 3:19
  the
• 3:19
  CEO
• 3:20
  is
• 3:20
  incentivized
• 3:21
  to
• 3:22
  go
• 3:22
  in
• 3:22
  there
• 3:22
  and
• 3:22
  basically
• 3:23
  make
• 3:23
  sure
• 3:24
  that
• 3:24
  the
• 3:24
  bottom
• 3:25
  line
• 3:25
  continues
• 3:25
  to
• 3:26
  creep
• 3:26
  up
• 3:26
  and
• 3:26
  up.
• 3:27
  And
• 3:27
  sometimes
• 3:28
  that
• 3:28
  comes
• 3:28
  at
• 3:29
  the
• 3:29
  disservice
• 3:30
  of
• 3:30
  your
• 3:30
  consumer.
• 3:31
  But
• 3:31
  if
• 3:31
  we're
• 3:32
  looking
• 3:32
  at
• 3:32
  the
• 3:32
  highs
• 3:32
  of
• 3:33
  his
• 3:33
  tenure
• 3:33
  now,
• 3:33
  we
• 3:33
  should
• 3:34
  also
• 3:34
  start
• 3:34
  by
• 3:34
  saying
• 3:35
  his
• 3:35
  tenure
• 3:35
  went
• 3:36
  from
• 3:36
  2020
• 3:37
  to
• 3:37
  2024.
• 3:38
  And
• 3:39
  I
• 3:39
  feel
• 3:39
  like
• 3:39
  when
• 3:39
  you
• 3:39
  say
• 3:40
  the
• 3:40
  year
• 3:40
  2020,
• 3:41
  it's
• 3:41
  very
• 3:41
  triggering
• 3:42
  for
• 3:42
  a
• 3:42
  lot
• 3:42
  of
• 3:42
  people.
• 3:43
  And
• 3:43
  that's
• 3:43
  because
• 3:44
  that
• 3:44
  was
• 3:44
  the
• 3:44
  pandemic.
• 3:45
  It
• 3:45
  was
• 3:46
  a
• 3:46
  really
• 3:46
  difficult
• 3:46
  time
• 3:47
  for
• 3:47
  a
• 3:47
  lot
• 3:47
  of
• 3:47
  people,
• 3:48
  but
• 3:48
  it
• 3:48
  also
• 3:49
  served
• 3:49
  as
• 3:49
  a
• 3:50
  really
• 3:50
  high
• 3:50
  profile
• 3:51
  time
• 3:51
  for
• 3:51
  sneakers
• 3:52
  in
• 3:52
  general
• 3:52
  because
• 3:53
  the
• 3:53
  pandemic,
• 3:54
  one
• 3:54
  of
• 3:54
  the
• 3:54
  things
• 3:54
  that
• 3:55
  it
• 3:55
  did
• 3:55
  outside
• 3:55
  of
• 3:56
  obviously
• 3:56
  spreading
• 3:57
  the
• 3:57
  coronavirus.
• 3:58
  But
• 3:58
  the
• 3:58
  other
• 3:58
  thing
• 3:59
  that
• 3:59
  it
• 3:59
  did
• 4:00
  was
• 4:00
  it
• 4:00
  made
• 4:00
  it
• 4:00
  feel
• 4:01
  as
• 4:01
  if
• 4:01
  resources
• 4:02
  were
• 4:02
  scarce.
• 4:02
  First
• 4:03
  of
• 4:03
  all,
• 4:03
  time
• 4:03
  with
• 4:03
  our
• 4:04
  loved
• 4:04
  ones
• 4:04
  was
• 4:04
  scarce
• 4:05
  because
• 4:05
  we
• 4:05
  weren't
• 4:05
  leaving
• 4:06
  the
• 4:06
  house,
• 4:06
  at
• 4:06
  least
• 4:06
  most
• 4:07
  of
• 4:07
  the
• 4:07
  time.
• 4:08
  Toilet
• 4:08
  paper
• 4:08
  was
• 4:09
  scarce
• 4:09
  because
• 4:09
  people
• 4:09
  were
• 4:10
  just
• 4:10
  going
• 4:10
  to
• 4:10
  the
• 4:10
  stores
• 4:11
  and
• 4:11
  almost
• 4:11
  stealing
• 4:12
  it
• 4:12
  at
• 4:12
  some
• 4:12
  point.
• 4:13
  And
• 4:13
  sneakers
• 4:14
  became
• 4:14
  something
• 4:14
  that
• 4:14
  people
• 4:15
  gravitated
• 4:15
  toward
• 4:16
  because
• 4:16
  of
• 4:16
  the
• 4:16
  last
• 4:17
  dance
• 4:17
  documentary.
• 4:18
  And
• 4:18
  because
• 4:19
  of
• 4:19
  that,
• 4:19
  obviously,
• 4:20
  prices
• 4:20
  went
• 4:20
  up.
• 4:21
  But
• 4:21
  there
• 4:21
  were
• 4:21
  a
• 4:21
  lot
• 4:21
  of
• 4:22
  high
• 4:22
  profile
• 4:22
  sneaker
• 4:23
  releases
• 4:23
  in
• 4:23
  that
• 4:23
  four
• 4:24
  year
• 4:24
  period.
• 4:24
  And
• 4:25
  you
• 4:25
  also
• 4:25
  have
• 4:25
  to
• 4:25
  remember,
• 4:26
  right
• 4:26
  before
• 4:27
  that
• 4:27
  period
• 4:28
  happened,
• 4:28
  Kobe
• 4:29
  Bryant
• 4:29
  passed
• 4:29
  away.
• 4:30
  So
• 4:30
  obviously
• 4:31
  there's
• 4:31
  a
• 4:31
  lot
• 4:31
  there.
• 4:32
  Off
• 4:33
  white.
• 4:33
  Off
• 4:33
  White
• 4:34
  was
• 4:34
  something
• 4:34
  that
• 4:34
  was
• 4:34
  huge
• 4:35
  prior
• 4:35
  to
• 4:35
  the
• 4:35
  pandemic.
• 4:36
  And
• 4:36
  then,
• 4:36
  of
• 4:36
  course,
• 4:36
  Virgil
• 4:37
  Abloh
• 4:37
  suddenly
• 4:38
  passes
• 4:38
  away
• 4:39
  in
• 4:39
  2021.
• 4:40
  And
• 4:41
  so
• 4:41
  you
• 4:41
  see
• 4:41
  all
• 4:42
  of
• 4:42
  these
• 4:42
  things
• 4:42
  happening
• 4:43
  that
• 4:43
  make
• 4:43
  it
• 4:43
  a
• 4:43
  little
• 4:43
  bit
• 4:44
  difficult
• 4:44
  for
• 4:44
  sneaker
• 4:45
  culture
• 4:45
  because
• 4:45
  a
• 4:45
  lot
• 4:45
  of
• 4:46
  their
• 4:46
  quote
• 4:46
  unquote
• 4:46
  cash
• 4:47
  cows
• 4:48
  have
• 4:48
  now
• 4:48
  left
• 4:48
  this
• 4:49
  earth.
• 4:49
  And
• 4:49
  so
• 4:49
  they
• 4:50
  have
• 4:50
  to
• 4:50
  figure
• 4:50
  out
• 4:50
  a
• 4:50
  path
• 4:51
  forward.
• 4:51
  And
• 4:51
  we
• 4:52
  saw
• 4:52
  even
• 4:52
  off
• 4:53
  white
• 4:53
  have
• 4:53
  a
• 4:53
  little
• 4:53
  bit
• 4:54
  of
• 4:54
  an
• 4:54
  imprint
• 4:54
  with
• 4:54
  the
• 4:55
  50
• 4:55
  dunk
• 4:55
  collection.
• 4:56
  And
• 4:56
  we
• 4:56
  saw
• 4:57
  the
• 4:57
  dunk
• 4:57
  low
• 4:58
  panda
• 4:58
  have
• 4:58
  its
• 4:59
  moment
• 4:59
  in
• 4:59
  the
• 4:59
  sun.
• 4:59
  Now,
• 5:00
  it's
• 5:00
  something
• 5:00
  that
• 5:00
  you
• 5:00
  can
• 5:01
  easily
• 5:01
  get,
• 5:02
  but
• 5:02
  at
• 5:02
  the
• 5:02
  height
• 5:02
  of
• 5:02
  the
• 5:03
  pandemic,
• 5:03
  at
• 5:03
  the
• 5:03
  height
• 5:04
  of
• 5:04
  resale,
• 5:04
  it
• 5:04
  was
• 5:05
  something
• 5:05
  people
• 5:05
  were
• 5:05
  going
• 5:05
  to
• 5:05
  the
• 5:06
  replica
• 5:06
  market
• 5:06
  for.
• 5:07
  It
• 5:07
  was
• 5:07
  that
• 5:07
  popular.
• 5:08
  Of
• 5:08
  course,
• 5:09
  you
• 5:09
  saw
• 5:09
  a
• 5:09
  lot
• 5:09
  of
• 5:09
  classics
• 5:10
  come
• 5:10
  back
• 5:10
  over
• 5:10
  the
• 5:11
  years.
• 5:11
  The
• 5:11
  Air
• 5:11
  Max
• 5:11
  90
• 5:12
  bacon.
• 5:12
  You
• 5:12
  saw
• 5:12
  a
• 5:13
  ton
• 5:13
  of
• 5:13
  Kobe's
• 5:13
  comeback.
• 5:14
  The
• 5:15
  partnership
• 5:15
  between
• 5:16
  Kobe
• 5:16
  and
• 5:17
  Nike
• 5:17
  was
• 5:17
  reinvigorated.
• 5:18
  Vanessa
• 5:19
  Bryant
• 5:19
  bringing
• 5:20
  it
• 5:20
  back.
• 5:21
  And
• 5:21
  so
• 5:21
  for
• 5:21
  a
• 5:21
  lot
• 5:22
  of
• 5:22
  people,
• 5:22
  there
• 5:23
  was
• 5:23
  a
• 5:23
  lot
• 5:23
  of
• 5:23
  good
• 5:23
  shoes
• 5:24
  to
• 5:24
  be
• 5:24
  had.
• 5:25
  And
• 5:25
  over
• 5:25
  the
• 5:25
  years,
• 5:26
  though,
• 5:26
  up
• 5:26
  until
• 5:27
  very
• 5:27
  recently,
• 5:28
  resale
• 5:29
  prices
• 5:29
  went
• 5:29
  from
• 5:29
  the
• 5:29
  highest
• 5:30
  they've
• 5:30
  ever
• 5:30
  been
• 5:31
  to
• 5:31
  almost
• 5:31
  back
• 5:32
  down
• 5:32
  to
• 5:32
  what
• 5:32
  they
• 5:33
  were
• 5:33
  pre
• 5:33
  pandemic.
• 5:34
  For
• 5:34
  some
• 5:34
  shoes,
• 5:35
  it's
• 5:35
  not
• 5:35
  the
• 5:35
  truth.
• 5:36
  Obviously,
• 5:36
  Kobe's
• 5:37
  are
• 5:37
  going
• 5:37
  to
• 5:37
  continue
• 5:37
  to
• 5:37
  sell
• 5:38
  because
• 5:38
  of
• 5:38
  his
• 5:38
  legacy.
• 5:39
  He's
• 5:39
  no
• 5:40
  longer
• 5:40
  here.
• 5:40
  So
• 5:41
  a
• 5:41
  lot
• 5:41
  of
• 5:41
  people
• 5:41
  want
• 5:41
  a
• 5:42
  piece
• 5:42
  of
• 5:42
  that
• 5:42
  legacy.
• 5:43
  But
• 5:43
  there
• 5:43
  has
• 5:44
  been
• 5:44
  a
• 5:44
  lot
• 5:44
  to
• 5:45
  be
• 5:45
  had
• 5:45
  in
• 5:45
  that
• 5:45
  time
• 5:46
  period.
• 5:46
  And
• 5:46
  I
• 5:46
  think
• 5:46
  people
• 5:46
  kind
• 5:47
  of
• 5:47
  forget
• 5:47
  that
• 5:47
  because
• 5:48
  the
• 5:48
  oversaturation
• 5:49
  makes
• 5:49
  us
• 5:50
  forget
• 5:50
  that.
• 5:50
  There
• 5:50
  has
• 5:51
  been
• 5:51
  a
• 5:51
  lot
• 5:51
  of
• 5:51
  heat,
• 5:52
  a
• 5:52
  lot
• 5:52
  of
• 5:52
  retros,
• 5:53
  a
• 5:53
  lot
• 5:53
  of
• 5:53
  really
• 5:53
  quality
• 5:54
  releases.
• 5:54
  Resurgence
• 5:55
  of
• 5:55
  new
• 5:56
  people
• 5:56
  like
• 5:56
  Amma
• 5:56
  moneyer
• 5:57
  on
• 5:57
  the
• 5:57
  scene.
• 5:58
  And
• 5:58
  I
• 5:58
  think
• 5:58
  that
• 5:59
  a
• 5:59
  lot
• 5:59
  of
• 5:59
  that
• 5:59
  has
• 5:59
  caused
• 6:00
  sneaker
• 6:00
  culture
• 6:00
  to
• 6:00
  be
• 6:00
  in
• 6:00
  a
• 6:01
  really
• 6:01
  good
• 6:01
  place
• 6:01
  today.
• 6:02
  But
• 6:02
  if
• 6:02
  you
• 6:03
  also
• 6:03
  look
• 6:03
  at
• 6:03
  some
• 6:03
  of
• 6:03
  the
• 6:03
  business
• 6:04
  decisions,
• 6:04
  we're
• 6:04
  talking
• 6:05
  direct
• 6:05
  to
• 6:05
  consumer
• 6:06
  strategy
• 6:06
  now,
• 6:07
  this
• 6:07
  one,
• 6:08
  in
• 6:08
  some
• 6:08
  ways,
• 6:09
  I
• 6:09
  think
• 6:09
  that
• 6:09
  it's
• 6:09
  good
• 6:10
  because
• 6:10
  I
• 6:10
  think
• 6:10
  you
• 6:10
  want
• 6:11
  to
• 6:11
  have
• 6:11
  a
• 6:11
  direct
• 6:12
  line
• 6:12
  to
• 6:12
  your
• 6:13
  customer.
• 6:13
  Obviously,
• 6:14
  if
• 6:14
  you're
• 6:14
  creating
• 6:15
  a
• 6:15
  business,
• 6:15
  you
• 6:15
  want
• 6:15
  to
• 6:15
  be
• 6:16
  able
• 6:16
  to
• 6:16
  be
• 6:16
  seen
• 6:17
  giving
• 6:17
  the
• 6:17
  product
• 6:18
  to
• 6:18
  your
• 6:18
  customer.
• 6:19
  And
• 6:19
  when
• 6:19
  you
• 6:19
  have
• 6:20
  middlemen,
• 6:20
  when
• 6:20
  you
• 6:20
  have
• 6:21
  businesses
• 6:21
  that
• 6:21
  are
• 6:21
  in
• 6:22
  the
• 6:22
  middle,
• 6:22
  it
• 6:22
  can
• 6:23
  make
• 6:23
  it
• 6:23
  so
• 6:23
  that
• 6:23
  costs
• 6:24
  are
• 6:24
  a
• 6:24
  little
• 6:24
  bit
• 6:24
  bloated
• 6:25
  because
• 6:25
  you're
• 6:26
  obviously
• 6:26
  giving
• 6:26
  it
• 6:26
  to
• 6:26
  another
• 6:27
  company
• 6:27
  who
• 6:27
  then
• 6:27
  you
• 6:28
  have
• 6:28
  to
• 6:28
  figure
• 6:28
  out
• 6:28
  percentages
• 6:29
  and
• 6:29
  things
• 6:29
  of
• 6:29
  that
• 6:30
  nature.
• 6:30
  But
• 6:31
  also
• 6:32
  a
• 6:32
  lot
• 6:32
  of
• 6:32
  those
• 6:32
  brands,
• 6:33
  we're
• 6:33
  talking
• 6:33
  foot
• 6:34
  locker.
• 6:34
  A
• 6:35
  lot
• 6:35
  of
• 6:35
  those
• 6:35
  brands
• 6:35
  had
• 6:36
  a
• 6:36
  nostalgic
• 6:36
  pull
• 6:37
  to
• 6:37
  a
• 6:37
  lot
• 6:37
  of
• 6:37
  people
• 6:37
  in
• 6:38
  the
• 6:38
  culture.
• 6:38
  I
• 6:39
  remember
• 6:39
  being
• 6:39
  a
• 6:39
  young
• 6:40
  kid
• 6:40
  and
• 6:40
  going
• 6:40
  into
• 6:41
  foot
• 6:41
  locker
• 6:41
  all
• 6:41
  the
• 6:41
  time
• 6:42
  because
• 6:42
  it
• 6:42
  was
• 6:42
  the
• 6:42
  sneaker
• 6:43
  store
• 6:43
  that
• 6:43
  was
• 6:43
  in
• 6:43
  the
• 6:43
  mall
• 6:44
  that
• 6:44
  I
• 6:44
  went
• 6:44
  to.
• 6:45
  That's
• 6:45
  where
• 6:45
  I
• 6:45
  saw
• 6:45
  my
• 6:46
  first
• 6:46
  Reebok
• 6:46
  pump.
• 6:47
  That's
• 6:47
  where
• 6:47
  I
• 6:47
  saw
• 6:48
  a
• 6:48
  lot
• 6:48
  of
• 6:48
  shoes
• 6:48
  that
• 6:48
  I
• 6:48
  really
• 6:49
  wanted
• 6:49
  that
• 6:49
  my
• 6:49
  mom
• 6:49
  just
• 6:50
  wouldn't
• 6:50
  get
• 6:50
  me.
• 6:51
  So
• 6:51
  I
• 6:51
  have
• 6:51
  memories
• 6:52
  there.
• 6:52
  And
• 6:52
  a
• 6:52
  lot
• 6:52
  of
• 6:53
  people,
• 6:53
  that
• 6:53
  was
• 6:53
  their
• 6:54
  accessibility.
• 6:54
  It
• 6:55
  was
• 6:55
  an
• 6:55
  access
• 6:55
  point
• 6:56
  to
• 6:56
  be
• 6:56
  able
• 6:56
  to
• 6:56
  get
• 6:56
  shoes,
• 6:57
  because
• 6:57
  going
• 6:57
  online
• 6:58
  now,
• 6:58
  there
• 6:59
  are
• 6:59
  so
• 6:59
  many
• 6:59
  people
• 6:59
  going
• 7:00
  after
• 7:00
  these
• 7:00
  shoes
• 7:00
  on
• 7:01
  release
• 7:01
  day
• 7:01
  that
• 7:01
  it's
• 7:01
  very
• 7:02
  difficult.
• 7:03
  I
• 7:03
  did
• 7:03
  an
• 7:03
  episode
• 7:03
  about
• 7:04
  sneakers
• 7:04
  and
• 7:04
  how
• 7:05
  there's
• 7:05
  so
• 7:05
  many
• 7:06
  people
• 7:06
  going
• 7:06
  after
• 7:07
  every
• 7:07
  single
• 7:07
  hype
• 7:08
  release
• 7:08
  that
• 7:08
  people
• 7:09
  don't
• 7:09
  realize
• 7:09
  that
• 7:10
  it's
• 7:10
  all
• 7:10
  about
• 7:10
  numbers.
• 7:11
  It's
• 7:11
  just
• 7:12
  too
• 7:12
  many
• 7:12
  people
• 7:12
  going
• 7:13
  out
• 7:13
  for
• 7:13
  shoe
• 7:13
  that
• 7:13
  they
• 7:13
  just
• 7:14
  did
• 7:14
  not
• 7:14
  make
• 7:14
  enough
• 7:14
  supply
• 7:15
  of.
• 7:15
  And
• 7:15
  really
• 7:15
  they
• 7:15
  can't
• 7:16
  make
• 7:16
  enough
• 7:16
  of
• 7:16
  a
• 7:16
  supply
• 7:17
  of
• 7:17
  it.
• 7:17
  So
• 7:17
  while
• 7:18
  going
• 7:18
  direct
• 7:18
  to
• 7:18
  consumer
• 7:19
  obviously
• 7:19
  was
• 7:20
  meant
• 7:20
  to
• 7:20
  build
• 7:20
  direct
• 7:21
  relationships
• 7:21
  with
• 7:21
  its
• 7:22
  consumer,
• 7:23
  I
• 7:23
  think
• 7:23
  it
• 7:23
  did
• 7:23
  put
• 7:24
  a
• 7:24
  strain
• 7:24
  on
• 7:24
  traditional
• 7:25
  retail
• 7:25
  partnerships
• 7:26
  that
• 7:26
  really,
• 7:26
  again,
• 7:26
  in
• 7:27
  the
• 7:27
  sneaker
• 7:27
  market
• 7:28
  specifically,
• 7:29
  had
• 7:29
  a
• 7:29
  very
• 7:29
  high
• 7:30
  level
• 7:30
  of
• 7:30
  nostalgia
• 7:31
  and
• 7:31
  people
• 7:31
  wanted
• 7:32
  to
• 7:32
  go
• 7:32
  there.
• 7:33
  So
• 7:33
  while
• 7:33
  they
• 7:34
  were
• 7:34
  trying
• 7:34
  to,
• 7:34
  again,
• 7:35
  make
• 7:35
  it
• 7:35
  more
• 7:36
  direct,
• 7:36
  I
• 7:36
  think
• 7:37
  what
• 7:37
  they
• 7:37
  did
• 7:37
  was
• 7:37
  take
• 7:38
  away
• 7:38
  some
• 7:38
  access
• 7:38
  points
• 7:39
  for
• 7:39
  people.
• 7:40
  Also
• 7:40
  in
• 7:40
  this
• 7:40
  timeframe,
• 7:41
  Nike
• 7:41
  was
• 7:41
  focused
• 7:42
  on
• 7:42
  sustainability
• 7:43
  initiatives
• 7:44
  and
• 7:44
  we're
• 7:44
  talking
• 7:45
  about
• 7:45
  reducing
• 7:46
  their
• 7:46
  carbon
• 7:46
  footprint.
• 7:47
  And
• 7:47
  that's
• 7:47
  when
• 7:47
  they
• 7:48
  started
• 7:48
  to
• 7:48
  get
• 7:48
  into
• 7:48
  a
• 7:48
  lot
• 7:48
  of
• 7:49
  the
• 7:49
  things
• 7:49
  like
• 7:49
  the
• 7:49
  Nike
• 7:49
  space
• 7:50
  hippie
• 7:50
  line,
• 7:51
  and
• 7:51
  they
• 7:51
  started
• 7:51
  using
• 7:52
  recycled
• 7:52
  materials.
• 7:53
  You
• 7:53
  started
• 7:53
  seeing
• 7:53
  the
• 7:54
  refurbished
• 7:54
  line,
• 7:55
  using
• 7:55
  the
• 7:55
  recycled
• 7:56
  boxes,
• 7:56
  things
• 7:57
  like
• 7:57
  that.
• 7:58
  I
• 7:58
  mean,
• 7:58
  there's
• 7:58
  something
• 7:58
  to
• 7:59
  be
• 7:59
  said
• 7:59
  about
• 7:59
  that
• 7:59
  long
• 8:00
  term
• 8:00
  for
• 8:00
  the
• 8:00
  company,
• 8:01
  but
• 8:01
  a
• 8:01
  lot
• 8:01
  of
• 8:02
  people
• 8:02
  didn't
• 8:02
  see
• 8:02
  how
• 8:02
  it
• 8:03
  translated
• 8:03
  to
• 8:03
  sneakers.
• 8:03
  And
• 8:04
  I
• 8:04
  think
• 8:04
  a
• 8:04
  lot
• 8:04
  of
• 8:04
  people
• 8:04
  felt
• 8:05
  like
• 8:05
  refurbished
• 8:05
  shoes
• 8:06
  or
• 8:06
  sustainable
• 8:07
  materials
• 8:08
  made
• 8:08
  it
• 8:08
  feel
• 8:08
  like
• 8:09
  sneakers
• 8:09
  were
• 8:09
  less
• 8:10
  than
• 8:10
  what
• 8:10
  we
• 8:10
  normally
• 8:11
  would
• 8:11
  get.
• 8:11
  And
• 8:12
  honestly,
• 8:12
  as
• 8:12
  a
• 8:12
  culture,
• 8:13
  we're
• 8:13
  already
• 8:13
  pretty
• 8:14
  critical
• 8:15
  about
• 8:15
  what
• 8:15
  kind
• 8:15
  of
• 8:15
  materials
• 8:16
  are
• 8:16
  used,
• 8:16
  the
• 8:17
  kind
• 8:17
  of
• 8:17
  quality
• 8:17
  we
• 8:17
  get,
• 8:18
  the
• 8:18
  QC,
• 8:18
  stitching,
• 8:19
  glue,
• 8:19
  stains,
• 8:19
  all
• 8:19
  that
• 8:20
  stuff.
• 8:20
  So
• 8:20
  while
• 8:21
  the
• 8:21
  idea
• 8:21
  of
• 8:21
  sustainability
• 8:22
  as
• 8:22
  a
• 8:22
  company
• 8:23
  is
• 8:23
  a
• 8:23
  good
• 8:23
  thing,
• 8:23
  I
• 8:24
  think
• 8:24
  it
• 8:24
  fail
• 8:24
  to
• 8:25
  translate
• 8:25
  to
• 8:26
  a
• 8:26
  quality
• 8:26
  product,
• 8:27
  at
• 8:27
  least
• 8:27
  in
• 8:27
  the
• 8:27
  perception
• 8:28
  of
• 8:28
  sneaker
• 8:28
  culture.
• 8:29
  And
• 8:29
  then,
• 8:29
  of
• 8:29
  course,
• 8:30
  Nike
• 8:30
  has
• 8:30
  been
• 8:30
  known
• 8:30
  for
• 8:31
  technological
• 8:31
  innovations
• 8:32
  throughout
• 8:32
  its
• 8:32
  entirety.
• 8:33
  And
• 8:33
  while
• 8:34
  maybe
• 8:34
  they
• 8:34
  are
• 8:34
  a
• 8:34
  little
• 8:35
  bit
• 8:35
  behind
• 8:35
  when
• 8:35
  it
• 8:36
  comes
• 8:36
  to
• 8:36
  certain
• 8:36
  innovations
• 8:37
  in
• 8:37
  design,
• 8:38
  I
• 8:38
  think
• 8:38
  when
• 8:38
  it
• 8:39
  comes
• 8:39
  to
• 8:39
  technological
• 8:39
  advances,
• 8:40
  they
• 8:40
  are
• 8:40
  still
• 8:41
  kind
• 8:41
  of
• 8:41
  in
• 8:41
  that
• 8:42
  space
• 8:42
  of
• 8:42
  being
• 8:43
  near
• 8:43
  the
• 8:43
  top.
• 8:44
  And
• 8:44
  one
• 8:44
  of
• 8:44
  the
• 8:44
  things
• 8:44
  that
• 8:44
  stands
• 8:45
  out
• 8:45
  to
• 8:45
  me
• 8:45
  is
• 8:46
  the
• 8:46
  Nike
• 8:46
  go
• 8:46
  fly
• 8:47
  ease.
• 8:47
  Now,
• 8:47
  the
• 8:47
  fly
• 8:47
  ease
• 8:48
  hasn't
• 8:48
  really
• 8:48
  caught
• 8:49
  on
• 8:49
  as
• 8:49
  this
• 8:49
  mainstream
• 8:50
  shoe
• 8:50
  that
• 8:51
  people
• 8:51
  are
• 8:51
  wearing,
• 8:52
  but
• 8:52
  I
• 8:52
  think
• 8:52
  that
• 8:53
  the
• 8:53
  idea
• 8:53
  behind
• 8:54
  it
• 8:54
  of
• 8:54
  making
• 8:54
  it
• 8:54
  a
• 8:54
  lot
• 8:55
  easier,
• 8:55
  a
• 8:55
  hands
• 8:56
  free
• 8:56
  shoe
• 8:57
  designed
• 8:57
  for
• 8:57
  accessibility,
• 8:58
  I
• 8:59
  think
• 8:59
  that
• 8:59
  is
• 8:59
  a
• 8:59
  great,
• 9:00
  great
• 9:00
  thing.
• 9:01
  And
• 9:01
  I
• 9:01
  do
• 9:01
  believe
• 9:02
  that
• 9:02
  we
• 9:02
  need
• 9:02
  to
• 9:02
  be
• 9:02
  thinking
• 9:03
  about
• 9:03
  people
• 9:03
  in
• 9:03
  the
• 9:03
  culture
• 9:04
  and
• 9:04
  just
• 9:04
  people
• 9:04
  who
• 9:04
  are
• 9:05
  wearing
• 9:05
  shoes
• 9:05
  in
• 9:06
  general,
• 9:06
  who
• 9:07
  maybe
• 9:07
  don't
• 9:07
  have
• 9:08
  the,
• 9:08
  the
• 9:09
  privilege
• 9:09
  of
• 9:09
  having
• 9:09
  two
• 9:10
  arms
• 9:10
  or
• 9:10
  the
• 9:10
  privilege
• 9:11
  of
• 9:11
  being
• 9:11
  able
• 9:11
  to
• 9:11
  tie
• 9:11
  their
• 9:12
  shoes.
• 9:12
  And
• 9:13
  so
• 9:13
  I
• 9:13
  think
• 9:13
  that
• 9:13
  was
• 9:13
  something
• 9:13
  that
• 9:14
  happened
• 9:14
  in
• 9:14
  that
• 9:14
  time
• 9:15
  period
• 9:15
  that
• 9:15
  was
• 9:15
  a
• 9:16
  really
• 9:16
  great
• 9:16
  thing.
• 9:17
  Of
• 9:17
  course
• 9:17
  they
• 9:18
  were
• 9:18
  trying
• 9:18
  to
• 9:18
  hit
• 9:18
  on
• 9:18
  the
• 9:18
  NFT
• 9:19
  market
• 9:19
  which
• 9:19
  had
• 9:19
  this
• 9:20
  moment
• 9:20
  but
• 9:20
  has
• 9:20
  kind
• 9:21
  of
• 9:21
  come
• 9:21
  down
• 9:21
  to
• 9:21
  earth.
• 9:22
  And
• 9:22
  so
• 9:22
  they
• 9:22
  started
• 9:22
  making
• 9:23
  sneaker
• 9:23
  nFts
• 9:24
  and
• 9:24
  things
• 9:24
  like
• 9:24
  that.
• 9:25
  All
• 9:25
  of
• 9:25
  that
• 9:25
  was
• 9:26
  really
• 9:26
  a
• 9:26
  fad.
• 9:26
  But
• 9:26
  I
• 9:27
  think
• 9:27
  that
• 9:27
  kind
• 9:27
  of
• 9:27
  summarizes
• 9:28
  the
• 9:28
  highs.
• 9:29
  And
• 9:29
  obviously
• 9:29
  I
• 9:29
  didn't
• 9:29
  hit
• 9:29
  all
• 9:30
  of
• 9:30
  them.
• 9:30
  But
• 9:30
  Nike
• 9:31
  wasn't
• 9:32
  exactly
• 9:32
  dormant
• 9:33
  during
• 9:33
  this
• 9:33
  time
• 9:33
  period.
• 9:34
  Unfortunately
• 9:35
  though,
• 9:35
  you
• 9:35
  are
• 9:36
  judged
• 9:36
  a
• 9:36
  lot
• 9:36
  of
• 9:36
  times
• 9:36
  by
• 9:37
  what
• 9:37
  did
• 9:37
  you
• 9:37
  do
• 9:37
  for
• 9:38
  me
• 9:38
  lately?
• 9:39
  And
• 9:39
  that's
• 9:39
  where
• 9:40
  the
• 9:40
  lows
• 9:40
  come
• 9:40
  in.
• 9:41
  So
• 9:41
  let's
• 9:41
  talk
• 9:41
  about
• 9:41
  some
• 9:41
  of
• 9:41
  these
• 9:42
  supply
• 9:42
  chain
• 9:42
  disruptions.
• 9:43
  Covid-19
• 9:44
  I
• 9:44
  talked
• 9:44
  about
• 9:45
  resources
• 9:45
  being
• 9:45
  scarce
• 9:46
  and
• 9:46
  that
• 9:46
  really
• 9:47
  was
• 9:47
  a
• 9:47
  reality
• 9:48
  for
• 9:48
  so
• 9:48
  many
• 9:48
  people
• 9:49
  and
• 9:49
  honestly
• 9:50
  so
• 9:50
  many
• 9:50
  things.
• 9:50
  And
• 9:50
  we're
• 9:51
  talking
• 9:51
  about
• 9:51
  factory
• 9:51
  related
• 9:52
  shutdowns
• 9:52
  in
• 9:52
  Southeast
• 9:53
  Asia
• 9:53
  due
• 9:53
  to
• 9:53
  the
• 9:53
  Covid-19
• 9:54
  pandemic.
• 9:55
  And
• 9:55
  we
• 9:56
  saw
• 9:56
  a
• 9:56
  shortage
• 9:56
  of
• 9:57
  so
• 9:57
  many
• 9:57
  materials,
• 9:58
  so
• 9:58
  many
• 9:58
  things
• 9:59
  that
• 9:59
  really
• 9:59
  caused
• 10:00
  supply
• 10:00
  chain
• 10:00
  issues
• 10:00
  to
• 10:01
  where
• 10:01
  this
• 10:01
  direct
• 10:02
  to
• 10:02
  consumer
• 10:02
  idea
• 10:03
  was
• 10:03
  even
• 10:03
  halted
• 10:04
  further
• 10:04
  because
• 10:05
  they
• 10:05
  couldn't
• 10:05
  get
• 10:05
  shoes
• 10:06
  out.
• 10:06
  And
• 10:06
  so
• 10:07
  while
• 10:07
  there
• 10:07
  was
• 10:07
  a
• 10:08
  perceived
• 10:08
  lack
• 10:08
  of
• 10:09
  resources
• 10:09
  across
• 10:10
  the
• 10:10
  world,
• 10:10
  in
• 10:10
  many
• 10:11
  places
• 10:11
  there
• 10:11
  was
• 10:12
  a
• 10:12
  lack
• 10:12
  of
• 10:12
  resources
• 10:13
  and
• 10:13
  there
• 10:13
  was
• 10:14
  disruptions
• 10:14
  in
• 10:15
  getting
• 10:15
  the
• 10:15
  products
• 10:15
  to
• 10:16
  their
• 10:16
  consumer
• 10:17
  because
• 10:17
  even
• 10:17
  if
• 10:17
  you
• 10:17
  go
• 10:18
  direct
• 10:18
  to
• 10:18
  consumer
• 10:19
  you
• 10:19
  still
• 10:19
  have
• 10:19
  to
• 10:19
  have
• 10:20
  an
• 10:20
  avenue
• 10:20
  to
• 10:20
  get
• 10:20
  it
• 10:21
  to
• 10:21
  your
• 10:21
  consumer.
• 10:22
  You
• 10:22
  still
• 10:22
  have
• 10:22
  to
• 10:22
  have
• 10:22
  an
• 10:22
  avenue
• 10:23
  to
• 10:23
  get
• 10:23
  the
• 10:23
  material
• 10:24
  source,
• 10:24
  the
• 10:24
  materials.
• 10:25
  And
• 10:25
  I
• 10:25
  think
• 10:26
  that
• 10:26
  was
• 10:26
  something
• 10:26
  that
• 10:26
  happened
• 10:27
  during
• 10:27
  the
• 10:27
  pandemic
• 10:28
  that
• 10:28
  Nike
• 10:28
  really
• 10:29
  had
• 10:29
  a
• 10:29
  hard
• 10:29
  time
• 10:29
  with.
• 10:30
  They
• 10:30
  weren't
• 10:30
  the
• 10:30
  only
• 10:31
  ones,
• 10:31
  but
• 10:31
  obviously
• 10:32
  it
• 10:32
  made
• 10:32
  people
• 10:33
  feel
• 10:33
  as
• 10:33
  if
• 10:34
  they
• 10:34
  weren't
• 10:34
  as
• 10:35
  high
• 10:35
  priority
• 10:35
  for
• 10:36
  Nike
• 10:36
  in
• 10:36
  terms
• 10:36
  of
• 10:36
  sneaker
• 10:37
  culture.
• 10:37
  And
• 10:38
  then
• 10:38
  of
• 10:38
  course
• 10:38
  you
• 10:38
  get
• 10:38
  this
• 10:39
  direct
• 10:39
  to
• 10:39
  consumer
• 10:40
  strategy,
• 10:40
  which
• 10:40
  is
• 10:40
  something
• 10:40
  that
• 10:41
  I
• 10:41
  said
• 10:41
  was
• 10:41
  both
• 10:41
  a
• 10:41
  pro
• 10:42
  and
• 10:42
  a
• 10:42
  con.
• 10:43
  And
• 10:43
  they
• 10:43
  certainly
• 10:44
  were
• 10:44
  aggressive
• 10:45
  in
• 10:45
  pushing
• 10:45
  this
• 10:46
  out.
• 10:46
  And
• 10:47
  I
• 10:47
  honestly
• 10:47
  believe
• 10:48
  that
• 10:48
  one
• 10:48
  of
• 10:48
  the
• 10:48
  things
• 10:48
  that
• 10:49
  happened
• 10:49
  is
• 10:50
  obviously
• 10:50
  they
• 10:50
  took
• 10:50
  away
• 10:51
  access
• 10:51
  points,
• 10:51
  they
• 10:51
  obviously
• 10:52
  took
• 10:52
  away
• 10:52
  nostalgia.
• 10:53
  But
• 10:53
  I
• 10:53
  think
• 10:54
  that
• 10:54
  Nike's
• 10:54
  aggressiveness
• 10:55
  and
• 10:55
  trying
• 10:55
  to
• 10:55
  push
• 10:56
  this
• 10:56
  so
• 10:56
  hard
• 10:57
  and
• 10:57
  pushing
• 10:57
  out
• 10:58
  so
• 10:58
  many
• 10:58
  retailers
• 10:59
  that
• 10:59
  had
• 10:59
  been
• 10:59
  so
• 11:00
  critical
• 11:00
  in
• 11:01
  making
• 11:01
  Nike
• 11:01
  the
• 11:02
  brand
• 11:02
  that
• 11:02
  they
• 11:02
  are
• 11:02
  today.
• 11:03
  I
• 11:04
  honestly
• 11:04
  believe
• 11:04
  that
• 11:05
  it
• 11:05
  created
• 11:05
  so
• 11:05
  much
• 11:05
  tension
• 11:06
  in
• 11:06
  the
• 11:06
  wholesale
• 11:06
  market,
• 11:07
  it
• 11:07
  contributed
• 11:07
  to
• 11:08
  some
• 11:08
  product
• 11:08
  availability
• 11:09
  and
• 11:09
  consistencies.
• 11:10
  And
• 11:11
  I
• 11:11
  think
• 11:11
  people
• 11:11
  kind
• 11:11
  of
• 11:12
  felt
• 11:12
  like
• 11:12
  Nike
• 11:12
  was
• 11:13
  doing
• 11:13
  this
• 11:13
  and
• 11:13
  they
• 11:14
  weren't
• 11:14
  doing
• 11:14
  it
• 11:14
  with
• 11:15
  us
• 11:15
  in
• 11:15
  mind.
• 11:15
  They
• 11:16
  really
• 11:16
  weren't
• 11:16
  doing
• 11:16
  it
• 11:16
  with
• 11:16
  the
• 11:17
  consumer
• 11:17
  in
• 11:17
  mind,
• 11:18
  because
• 11:18
  on
• 11:18
  its
• 11:18
  surface,
• 11:19
  when
• 11:19
  you
• 11:19
  cancel
• 11:20
  out
• 11:20
  the
• 11:20
  foot
• 11:20
  lockers
• 11:21
  and
• 11:21
  the
• 11:21
  foot
• 11:21
  actions
• 11:21
  and
• 11:22
  the
• 11:22
  east
• 11:22
  bays
• 11:22
  and
• 11:22
  so
• 11:23
  forth,
• 11:23
  what
• 11:23
  you've
• 11:24
  done
• 11:24
  now
• 11:24
  is
• 11:24
  you've
• 11:25
  basically
• 11:25
  made
• 11:25
  it
• 11:25
  known
• 11:26
  that
• 11:26
  these
• 11:26
  companies
• 11:27
  don't
• 11:27
  matter,
• 11:28
  these
• 11:28
  stores
• 11:28
  don't
• 11:29
  matter.
• 11:29
  And
• 11:29
  so
• 11:30
  for
• 11:30
  a
• 11:30
  lot
• 11:30
  of
• 11:30
  people,
• 11:31
  that
• 11:31
  perception
• 11:31
  gets
• 11:32
  put
• 11:32
  on
• 11:32
  them
• 11:32
  and
• 11:32
  they
• 11:33
  think,
• 11:33
  well,
• 11:33
  I
• 11:33
  don't
• 11:34
  matter
• 11:34
  because
• 11:35
  that's
• 11:35
  where
• 11:35
  I
• 11:35
  would
• 11:35
  go
• 11:36
  or
• 11:36
  that's
• 11:36
  where
• 11:36
  I
• 11:36
  would
• 11:37
  shop
• 11:37
  for
• 11:37
  shoes.
• 11:37
  And
• 11:37
  so
• 11:37
  I
• 11:38
  think
• 11:38
  it
• 11:38
  made
• 11:38
  Nike
• 11:38
  feel
• 11:39
  or
• 11:39
  seem
• 11:40
  a
• 11:40
  little
• 11:40
  bit
• 11:40
  ruthless,
• 11:41
  a
• 11:41
  little
• 11:42
  bit
• 11:42
  lethal
• 11:42
  in
• 11:42
  their
• 11:43
  approach
• 11:43
  because
• 11:43
  they're
• 11:43
  trying
• 11:43
  to
• 11:44
  push
• 11:44
  them
• 11:44
  out
• 11:44
  as
• 11:44
  hard
• 11:45
  as
• 11:45
  possible.
• 11:46
  And
• 11:46
  I
• 11:46
  think
• 11:46
  all
• 11:47
  of
• 11:47
  these
• 11:47
  came
• 11:47
  down
• 11:48
  to
• 11:48
  you
• 11:48
  also
• 11:49
  had
• 11:49
  some
• 11:49
  labor
• 11:49
  practices
• 11:50
  and
• 11:50
  criticisms
• 11:51
  about
• 11:51
  how
• 11:51
  they
• 11:52
  would
• 11:52
  go
• 11:52
  about
• 11:52
  that.
• 11:52
  And
• 11:53
  despite
• 11:53
  efforts
• 11:54
  to
• 11:54
  kind
• 11:54
  of
• 11:54
  improve
• 11:55
  some
• 11:55
  of
• 11:55
  them,
• 11:55
  they
• 11:55
  continued
• 11:56
  to
• 11:56
  face
• 11:56
  criticism
• 11:56
  for
• 11:57
  working
• 11:57
  conditions
• 11:57
  in
• 11:58
  overseas
• 11:58
  factories.
• 11:59
  And
• 11:59
  we're
• 12:00
  talking
• 12:00
  about
• 12:00
  factories
• 12:01
  that
• 12:01
  were
• 12:01
  affected
• 12:01
  by
• 12:01
  the
• 12:02
  pandemic.
• 12:02
  Vietnam,
• 12:03
  Indonesia,
• 12:04
  I
• 12:04
  talked
• 12:04
  about
• 12:05
  supply
• 12:05
  chain
• 12:06
  issues.
• 12:06
  And
• 12:06
  obviously
• 12:07
  all
• 12:07
  of
• 12:07
  that
• 12:07
  comes
• 12:07
  together
• 12:08
  for
• 12:08
  Nike
• 12:08
  to
• 12:08
  have
• 12:09
  a
• 12:09
  hard
• 12:09
  time
• 12:09
  of
• 12:09
  it,
• 12:10
  even
• 12:10
  though
• 12:11
  resale
• 12:11
  prices
• 12:12
  were
• 12:12
  going
• 12:12
  up,
• 12:12
  I
• 12:12
  think
• 12:13
  behind
• 12:13
  the
• 12:14
  lines,
• 12:14
  behind
• 12:15
  the
• 12:15
  scenes
• 12:15
  at
• 12:15
  Nike,
• 12:15
  they
• 12:15
  were
• 12:16
  having
• 12:16
  a
• 12:16
  tough
• 12:16
  time.
• 12:17
  And
• 12:17
  all
• 12:17
  of
• 12:18
  this
• 12:18
  comes
• 12:18
  down
• 12:18
  to
• 12:19
  the
• 12:19
  lowest
• 12:19
  of
• 12:19
  the
• 12:19
  lows.
• 12:20
  This
• 12:20
  is
• 12:20
  the
• 12:20
  low
• 12:21
  that
• 12:21
  almost
• 12:21
  every
• 12:22
  single
• 12:22
  person
• 12:22
  I've
• 12:23
  talked
• 12:23
  to
• 12:23
  has
• 12:24
  actually
• 12:24
  pointed
• 12:24
  to
• 12:25
  directly
• 12:25
  as
• 12:25
  to
• 12:25
  why
• 12:26
  John
• 12:26
  Donahoe's
• 12:27
  time
• 12:27
  was
• 12:27
  a
• 12:27
  failure
• 12:28
  and
• 12:28
  it
• 12:28
  was
• 12:28
  Nike
• 12:29
  stock
• 12:29
  performance.
• 12:30
  I
• 12:31
  should
• 12:31
  note
• 12:31
  that
• 12:32
  during
• 12:32
  the
• 12:32
  height
• 12:32
  of
• 12:32
  the
• 12:32
  pandemic,
• 12:33
  when
• 12:33
  the
• 12:33
  stock
• 12:33
  market
• 12:34
  here
• 12:34
  in
• 12:34
  the
• 12:34
  United
• 12:34
  States
• 12:35
  crashed
• 12:35
  all
• 12:35
  the
• 12:35
  way
• 12:36
  down
• 12:36
  almost
• 12:36
  to
• 12:36
  rock
• 12:37
  bottom,
• 12:37
  I
• 12:38
  became
• 12:38
  a
• 12:38
  stockholder
• 12:39
  of
• 12:39
  Nike
• 12:39
  because
• 12:39
  the
• 12:40
  stock
• 12:40
  dropped
• 12:40
  so
• 12:40
  much,
• 12:41
  I
• 12:41
  was
• 12:41
  able
• 12:41
  to
• 12:41
  get
• 12:41
  in
• 12:42
  at
• 12:42
  a
• 12:42
  really
• 12:42
  good
• 12:42
  entry
• 12:43
  point.
• 12:43
  And
• 12:44
  over
• 12:44
  the
• 12:44
  course
• 12:44
  of
• 12:44
  the
• 12:45
  pandemic,
• 12:45
  while
• 12:45
  I
• 12:45
  was
• 12:46
  sitting
• 12:46
  here
• 12:46
  internally
• 12:47
  complaining
• 12:47
  about
• 12:48
  resale
• 12:48
  prices
• 12:48
  and
• 12:48
  about
• 12:49
  the
• 12:49
  lack
• 12:49
  of
• 12:49
  availability
• 12:50
  for
• 12:50
  shoes,
• 12:51
  my
• 12:51
  Nike
• 12:51
  stock
• 12:52
  was
• 12:52
  going
• 12:52
  up
• 12:52
  like
• 12:52
  crazy.
• 12:53
  And
• 12:53
  it
• 12:53
  had
• 12:54
  peaked
• 12:54
  at
• 12:54
  a
• 12:54
  price
• 12:54
  that
• 12:55
  was
• 12:55
  almost
• 12:55
  double
• 12:56
  what
• 12:56
  I
• 12:56
  paid
• 12:56
  for
• 12:57
  it.
• 12:57
  And
• 12:57
  now
• 12:57
  you're
• 12:58
  looking
• 12:58
  at
• 12:58
  it
• 12:58
  where
• 12:58
  it's
• 12:58
  barely
• 12:59
  over
• 12:59
  what
• 12:59
  I
• 13:00
  paid
• 13:00
  for
• 13:00
  it.
• 13:00
  And
• 13:01
  unfortunately
• 13:01
  for
• 13:02
  us
• 13:02
  sneakerheads
• 13:02
  and
• 13:02
  the
• 13:03
  sneaker
• 13:03
  community,
• 13:04
  as
• 13:04
  much
• 13:04
  as
• 13:05
  we
• 13:05
  want
• 13:05
  to
• 13:05
  think
• 13:06
  that
• 13:06
  Nike,
• 13:07
  Adidas,
• 13:07
  Puma,
• 13:08
  Asics,
• 13:09
  new
• 13:09
  balance,
• 13:09
  that
• 13:10
  they're
• 13:10
  all
• 13:10
  out
• 13:10
  for
• 13:10
  us,
• 13:11
  out
• 13:11
  for
• 13:11
  the
• 13:12
  culture,
• 13:12
  they're
• 13:13
  out
• 13:13
  for
• 13:13
  the
• 13:13
  bottom
• 13:13
  line.
• 13:14
  And
• 13:14
  when
• 13:14
  you're
• 13:14
  a
• 13:14
  publicly
• 13:15
  traded
• 13:15
  company,
• 13:15
  your
• 13:16
  stock
• 13:16
  performance
• 13:16
  is
• 13:17
  the
• 13:17
  metric
• 13:17
  that
• 13:18
  everybody
• 13:18
  sees.
• 13:19
  And
• 13:19
  so
• 13:19
  when
• 13:19
  you
• 13:19
  see
• 13:20
  that
• 13:20
  stock
• 13:20
  price
• 13:20
  continue
• 13:21
  to
• 13:21
  go
• 13:21
  down,
• 13:21
  continue
• 13:22
  to
• 13:22
  go
• 13:22
  down
• 13:23
  when
• 13:23
  they
• 13:23
  are
• 13:23
  trying
• 13:23
  to
• 13:24
  have
• 13:24
  shoes
• 13:24
  more
• 13:24
  available,
• 13:25
  but
• 13:25
  they're
• 13:25
  not
• 13:26
  selling
• 13:26
  out
• 13:26
  the
• 13:26
  stock
• 13:27
  price
• 13:27
  continues
• 13:27
  to
• 13:27
  go
• 13:28
  down.
• 13:28
  This
• 13:28
  is
• 13:29
  unfortunately
• 13:29
  a
• 13:29
  direct
• 13:30
  reflection
• 13:30
  on
• 13:30
  your
• 13:30
  CEO.
• 13:31
  And
• 13:32
  for
• 13:32
  John
• 13:32
  Donohoe,
• 13:33
  that
• 13:33
  was
• 13:33
  the
• 13:33
  last
• 13:33
  straw
• 13:34
  to
• 13:34
  see
• 13:34
  it
• 13:35
  go
• 13:35
  down
• 13:35
  to
• 13:35
  pandemic
• 13:36
  levels.
• 13:36
  Think
• 13:37
  about
• 13:37
  that,
• 13:37
  folks.
• 13:37
  When
• 13:37
  the
• 13:38
  stock
• 13:38
  market
• 13:38
  in
• 13:38
  the
• 13:38
  United
• 13:39
  States
• 13:39
  crashed
• 13:39
  so
• 13:40
  hard
• 13:40
  that
• 13:40
  so
• 13:41
  many
• 13:41
  stocks
• 13:41
  were
• 13:41
  so
• 13:41
  available
• 13:42
  and
• 13:42
  so
• 13:42
  down,
• 13:43
  for
• 13:43
  Nike
• 13:44
  to
• 13:44
  go
• 13:44
  back
• 13:44
  to
• 13:45
  those
• 13:45
  levels,
• 13:46
  that
• 13:46
  was
• 13:46
  a
• 13:46
  different
• 13:46
  time
• 13:47
  in
• 13:47
  this
• 13:47
  country.
• 13:47
  That
• 13:47
  was
• 13:47
  such
• 13:48
  an
• 13:48
  unstable
• 13:48
  time.
• 13:49
  And
• 13:49
  normally
• 13:49
  the
• 13:49
  stock
• 13:50
  market
• 13:50
  crashes
• 13:50
  that
• 13:51
  hard
• 13:51
  because
• 13:52
  of
• 13:52
  really
• 13:52
  catastrophic
• 13:53
  events,
• 13:54
  events
• 13:54
  that
• 13:54
  really
• 13:55
  can't
• 13:55
  be
• 13:55
  foreseen.
• 13:56
  Think
• 13:56
  about
• 13:56
  2008,
• 13:57
  when
• 13:57
  the
• 13:57
  stock
• 13:58
  market
• 13:58
  crashed
• 13:59
  and
• 13:59
  now
• 13:59
  you
• 14:00
  have
• 14:00
  a
• 14:00
  CEO
• 14:00
  who
• 14:01
  is
• 14:01
  lording
• 14:01
  over
• 14:01
  a
• 14:02
  company
• 14:02
  that
• 14:02
  has
• 14:02
  a
• 14:03
  stock
• 14:03
  price
• 14:03
  that
• 14:04
  not
• 14:04
  only
• 14:04
  hasn't
• 14:05
  recovered,
• 14:05
  but
• 14:05
  has
• 14:06
  doubled
• 14:06
  and
• 14:07
  gone
• 14:07
  right
• 14:07
  back
• 14:07
  down.
• 14:08
  And
• 14:08
  you
• 14:08
  just
• 14:09
  can't
• 14:09
  have
• 14:09
  that.
• 14:10
  The
• 14:10
  CEO
• 14:11
  gets
• 14:11
  paid
• 14:11
  a
• 14:11
  lot
• 14:12
  of
• 14:12
  money
• 14:12
  and
• 14:13
  they
• 14:13
  get
• 14:13
  paid
• 14:13
  a
• 14:13
  lot
• 14:13
  of
• 14:14
  money
• 14:14
  to
• 14:14
  make
• 14:14
  other
• 14:15
  people
• 14:15
  a
• 14:15
  lot
• 14:15
  of
• 14:15
  money.
• 14:16
  And
• 14:16
  so
• 14:16
  when
• 14:16
  your
• 14:17
  stock
• 14:17
  price
• 14:17
  falls
• 14:18
  by
• 14:18
  almost
• 14:18
  50%,
• 14:20
  the
• 14:20
  board
• 14:20
  of
• 14:20
  directors
• 14:21
  is
• 14:21
  just
• 14:21
  not
• 14:21
  going
• 14:22
  to
• 14:22
  sit
• 14:22
  for
• 14:22
  that.
• 14:22
  Because
• 14:23
  those
• 14:23
  people,
• 14:23
  that's
• 14:24
  their
• 14:24
  livelihood
• 14:25
  on
• 14:25
  the
• 14:25
  line.
• 14:25
  And
• 14:26
  yes,
• 14:26
  they
• 14:26
  make
• 14:26
  a
• 14:27
  ton
• 14:27
  of
• 14:27
  money
• 14:27
  regardless
• 14:28
  of
• 14:28
  what
• 14:28
  the
• 14:28
  stock
• 14:28
  price
• 14:29
  is
• 14:29
  for
• 14:29
  nike.
• 14:29
  So
• 14:29
  I'm
• 14:30
  not
• 14:30
  sitting
• 14:30
  here
• 14:30
  saying
• 14:30
  that
• 14:31
  you
• 14:31
  should
• 14:31
  feel
• 14:31
  bad
• 14:32
  for
• 14:32
  them
• 14:32
  or
• 14:32
  that
• 14:33
  I
• 14:33
  personally
• 14:34
  have
• 14:34
  sympathy
• 14:34
  for
• 14:35
  them.
• 14:35
  What
• 14:35
  I
• 14:35
  am
• 14:36
  saying
• 14:36
  though
• 14:36
  is
• 14:37
  when
• 14:37
  it
• 14:37
  comes
• 14:37
  down
• 14:37
  to
• 14:38
  it,
• 14:38
  your
• 14:38
  company
• 14:39
  has
• 14:39
  to
• 14:40
  perform.
• 14:41
  And
• 14:41
  if
• 14:41
  it's
• 14:41
  not
• 14:41
  performing,
• 14:42
  you,
• 14:42
  the
• 14:43
  CEO,
• 14:43
  are
• 14:43
  the
• 14:44
  one
• 14:44
  that
• 14:44
  is
• 14:44
  going
• 14:44
  to
• 14:44
  get
• 14:45
  fired.
• 14:45
  And
• 14:45
  so
• 14:45
  they
• 14:45
  have
• 14:46
  now
• 14:46
  moved
• 14:46
  on
• 14:46
  to
• 14:46
  Elliot
• 14:47
  Hill.
• 14:47
  Now
• 14:47
  Elliot
• 14:48
  Hill
• 14:48
  has
• 14:49
  had
• 14:49
  an
• 14:49
  extensive
• 14:50
  tenure
• 14:50
  at
• 14:50
  Nike.
• 14:50
  He
• 14:51
  has
• 14:51
  been
• 14:51
  at
• 14:51
  the
• 14:51
  company
• 14:51
  since
• 14:52
  1988,
• 14:53
  but
• 14:53
  he's
• 14:53
  held
• 14:53
  various
• 14:54
  leadership
• 14:55
  roles
• 14:55
  at
• 14:55
  the
• 14:55
  company.
• 14:56
  He
• 14:56
  played
• 14:56
  a
• 14:57
  crucial
• 14:57
  role
• 14:57
  in
• 14:57
  expanding
• 14:58
  Nike's
• 14:58
  presence
• 14:58
  in
• 14:58
  North
• 14:59
  America
• 14:59
  and
• 15:00
  in
• 15:00
  Europe.
• 15:00
  And
• 15:00
  that's
• 15:00
  really
• 15:01
  big
• 15:01
  because
• 15:01
  Nike
• 15:02
  obviously
• 15:02
  being
• 15:03
  the
• 15:03
  global
• 15:03
  brand
• 15:03
  that
• 15:03
  they
• 15:04
  are,
• 15:04
  they
• 15:05
  needed
• 15:05
  touch
• 15:05
  points
• 15:05
  to
• 15:05
  be
• 15:06
  able
• 15:06
  to
• 15:06
  do
• 15:06
  that.
• 15:06
  From
• 15:07
  2018
• 15:07
  to
• 15:07
  2020,
• 15:08
  he
• 15:08
  was
• 15:08
  the
• 15:08
  president
• 15:09
  of
• 15:09
  consumer
• 15:10
  and
• 15:10
  marketplace
• 15:11
  and
• 15:11
  he
• 15:11
  was
• 15:11
  responsible
• 15:12
  for
• 15:12
  overseeing
• 15:13
  their
• 15:13
  global
• 15:13
  marketing
• 15:14
  strategies,
• 15:14
  their
• 15:14
  retail
• 15:15
  operations,
• 15:15
  their
• 15:16
  overall
• 15:16
  consumer
• 15:17
  engagement.
• 15:17
  And
• 15:18
  that's
• 15:18
  where
• 15:18
  I
• 15:18
  think
• 15:18
  the
• 15:18
  sneaker
• 15:19
  community
• 15:19
  feels
• 15:20
  like
• 15:20
  maybe
• 15:20
  Nike
• 15:20
  is
• 15:21
  lacking
• 15:21
  these
• 15:21
  days
• 15:21
  in
• 15:22
  that
• 15:22
  consumer
• 15:22
  engagement.
• 15:23
  Because
• 15:23
  a
• 15:24
  lot
• 15:24
  of
• 15:24
  people
• 15:24
  want
• 15:24
  to
• 15:24
  feel
• 15:25
  like
• 15:25
  Nike
• 15:25
  is
• 15:26
  listening
• 15:26
  to
• 15:26
  their
• 15:26
  complaints
• 15:27
  and
• 15:27
  listening
• 15:28
  to
• 15:28
  what
• 15:28
  they
• 15:29
  want
• 15:29
  and
• 15:29
  in
• 15:29
  some
• 15:29
  ways
• 15:29
  they
• 15:30
  are.
• 15:30
  In
• 15:30
  some
• 15:30
  ways
• 15:31
  they
• 15:31
  are
• 15:31
  not.
• 15:32
  But
• 15:32
  what
• 15:32
  you
• 15:32
  saw
• 15:32
  during
• 15:33
  his
• 15:33
  tenure
• 15:33
  in
• 15:33
  those
• 15:34
  positions
• 15:34
  is
• 15:34
  Nike's
• 15:35
  revenue
• 15:35
  and
• 15:35
  market
• 15:35
  share
• 15:36
  grow,
• 15:36
  pushing
• 15:36
  the
• 15:36
  company
• 15:37
  past
• 15:38
  $39
• 15:38
  billion
• 15:39
  in
• 15:39
  annual
• 15:40
  revenue
• 15:40
  by
• 15:40
  2020.
• 15:41
  So
• 15:42
  the
• 15:42
  company
• 15:42
  was
• 15:42
  doing
• 15:42
  really
• 15:43
  well
• 15:43
  by
• 15:43
  the
• 15:43
  time
• 15:44
  that
• 15:44
  John
• 15:44
  Donahoe
• 15:45
  became
• 15:45
  the
• 15:45
  CEO.
• 15:46
  So
• 15:46
  it's
• 15:46
  not
• 15:46
  as
• 15:46
  if
• 15:46
  Nike
• 15:47
  was
• 15:47
  hurting
• 15:47
  and
• 15:48
  all
• 15:48
  of
• 15:48
  a
• 15:48
  sudden
• 15:48
  John
• 15:48
  Donohoe
• 15:49
  made
• 15:49
  it
• 15:49
  worse.
• 15:50
  It's
• 15:50
  just
• 15:50
  these
• 15:51
  things
• 15:51
  ebb
• 15:51
  and
• 15:51
  flow.
• 15:52
  He
• 15:52
  has
• 15:52
  been
• 15:52
  key
• 15:53
  to
• 15:53
  the
• 15:53
  leadership
• 15:53
  and
• 15:53
  global
• 15:54
  expansion,
• 15:54
  like
• 15:54
  I
• 15:54
  mentioned,
• 15:55
  instrumental
• 15:55
  in
• 15:55
  driving
• 15:56
  Nike's
• 15:56
  global
• 15:56
  expansion
• 15:57
  endeavors,
• 15:58
  especially
• 15:58
  in
• 15:58
  emerging
• 15:59
  markets.
• 15:59
  And
• 16:00
  they
• 16:00
  built
• 16:00
  localized
• 16:00
  strategies
• 16:01
  that
• 16:01
  deepen
• 16:02
  consumer
• 16:02
  loyalty
• 16:03
  across
• 16:03
  regions.
• 16:04
  And
• 16:04
  while
• 16:04
  I
• 16:05
  think
• 16:05
  that
• 16:05
  this
• 16:05
  is
• 16:06
  true
• 16:06
  across
• 16:06
  the
• 16:06
  board,
• 16:07
  I
• 16:07
  think
• 16:07
  that
• 16:07
  there
• 16:07
  are
• 16:07
  some
• 16:08
  people
• 16:08
  who
• 16:08
  feel
• 16:08
  that
• 16:09
  Nike
• 16:09
  has
• 16:09
  not
• 16:09
  been
• 16:10
  loyal
• 16:10
  to
• 16:10
  them.
• 16:11
  And
• 16:11
  so
• 16:11
  you're
• 16:11
  not
• 16:11
  seeing
• 16:12
  that.
• 16:12
  But
• 16:12
  now
• 16:12
  he's
• 16:13
  going
• 16:13
  to
• 16:13
  take
• 16:13
  on
• 16:13
  the
• 16:13
  CEO
• 16:14
  role
• 16:14
  and
• 16:14
  he's
• 16:14
  going
• 16:15
  to
• 16:15
  basically
• 16:16
  come
• 16:16
  back
• 16:16
  in
• 16:16
  October
• 16:17
  of
• 16:17
  2024.
• 16:18
  It's
• 16:18
  his
• 16:19
  first
• 16:19
  time
• 16:19
  in
• 16:19
  the
• 16:19
  top
• 16:20
  leadership
• 16:20
  role
• 16:20
  and
• 16:21
  he's
• 16:21
  going
• 16:21
  to
• 16:21
  be
• 16:21
  tasked
• 16:21
  with
• 16:22
  navigating
• 16:22
  the
• 16:22
  next
• 16:22
  phase.
• 16:23
  And
• 16:23
  that's
• 16:23
  why
• 16:23
  I
• 16:24
  ask
• 16:24
  you,
• 16:24
  what
• 16:24
  does
• 16:24
  it
• 16:25
  mean
• 16:25
  for
• 16:25
  the
• 16:25
  future?
• 16:26
  Well,
• 16:26
  the
• 16:26
  first
• 16:26
  thing
• 16:27
  that
• 16:27
  you
• 16:27
  see
• 16:27
  is
• 16:28
  that
• 16:28
  Nike
• 16:28
  has
• 16:29
  decided
• 16:29
  to
• 16:29
  take
• 16:30
  back
• 16:30
  and
• 16:30
  delay
• 16:31
  the
• 16:31
  Jordan
• 16:32
  one
• 16:32
  reimagined
• 16:33
  black
• 16:33
  toe.
• 16:33
  I
• 16:34
  think
• 16:34
  that's
• 16:34
  a
• 16:34
  sign
• 16:34
  of
• 16:34
  things
• 16:35
  to
• 16:35
  come
• 16:35
  because
• 16:35
  I
• 16:35
  think
• 16:36
  what
• 16:36
  they
• 16:36
  saw
• 16:36
  was,
• 16:37
  hey,
• 16:37
  wait
• 16:37
  a
• 16:37
  minute,
• 16:38
  we
• 16:38
  have
• 16:38
  the
• 16:38
  black
• 16:38
  cement
• 16:38
  threes
• 16:39
  coming
• 16:39
  out
• 16:39
  and
• 16:40
  now
• 16:40
  we're
• 16:40
  going
• 16:40
  to
• 16:40
  put
• 16:40
  this
• 16:40
  piece
• 16:41
  of
• 16:41
  history.
• 16:41
  I
• 16:41
  think
• 16:42
  they're
• 16:42
  going
• 16:42
  to
• 16:42
  spread
• 16:42
  things
• 16:43
  out
• 16:43
  of.
• 16:43
  I
• 16:43
  was
• 16:43
  reading
• 16:44
  the
• 16:44
  other
• 16:44
  day
• 16:44
  on
• 16:44
  sole
• 16:44
  Savvy's
• 16:45
  website
• 16:45
  that
• 16:46
  they're
• 16:46
  now
• 16:46
  going
• 16:46
  to
• 16:46
  be
• 16:47
  stopping
• 16:47
  production
• 16:47
  or
• 16:48
  pushing
• 16:48
  back
• 16:48
  production
• 16:49
  of
• 16:49
  a
• 16:49
  lot
• 16:49
  of
• 16:49
  shoes.
• 16:50
  They're
• 16:50
  going
• 16:50
  to
• 16:50
  be
• 16:51
  producing
• 16:51
  less.
• 16:52
  They're
• 16:52
  going
• 16:52
  to
• 16:52
  make
• 16:52
  it
• 16:52
  seem
• 16:53
  as
• 16:53
  if
• 16:53
  there
• 16:53
  is
• 16:54
  less
• 16:54
  to
• 16:54
  be
• 16:54
  had.
• 16:54
  They're
• 16:55
  trying
• 16:55
  to
• 16:55
  drive
• 16:55
  up
• 16:56
  hype.
• 16:56
  And
• 16:56
  as
• 16:57
  much
• 16:57
  as
• 16:57
  we
• 16:57
  all
• 16:57
  hate
• 16:57
  that,
• 16:58
  it's
• 16:58
  what
• 16:59
  is
• 16:59
  going
• 16:59
  to
• 16:59
  keep
• 16:59
  sneakers
• 17:00
  alive.
• 17:01
  Resell,
• 17:01
  at
• 17:01
  some
• 17:02
  point
• 17:02
  in
• 17:02
  hype
• 17:03
  is
• 17:03
  going
• 17:03
  to
• 17:03
  have
• 17:03
  to
• 17:04
  buoy
• 17:04
  this
• 17:05
  market.
• 17:05
  And
• 17:06
  I
• 17:06
  think
• 17:06
  that
• 17:06
  people
• 17:06
  are
• 17:07
  disappointed
• 17:07
  with
• 17:07
  that
• 17:07
  because
• 17:08
  right
• 17:08
  now
• 17:08
  is
• 17:08
  the
• 17:08
  best
• 17:09
  time
• 17:09
  for
• 17:09
  sneakers
• 17:10
  because
• 17:10
  almost
• 17:10
  everything
• 17:11
  is
• 17:11
  available.
• 17:12
  But
• 17:12
  that
• 17:12
  means
• 17:13
  that
• 17:13
  there's
• 17:13
  no
• 17:13
  hype.
• 17:14
  That
• 17:14
  means
• 17:14
  that
• 17:14
  there's
• 17:14
  nothing
• 17:15
  to
• 17:15
  sustain
• 17:15
  it
• 17:15
  into
• 17:16
  the
• 17:16
  future.
• 17:16
  And
• 17:17
  I
• 17:17
  think
• 17:17
  that
• 17:17
  Elliot
• 17:18
  Hill
• 17:18
  is
• 17:18
  going
• 17:18
  to
• 17:18
  look
• 17:19
  at
• 17:19
  this
• 17:19
  and
• 17:19
  he
• 17:20
  is
• 17:20
  going
• 17:20
  to
• 17:20
  try
• 17:20
  to
• 17:20
  get
• 17:20
  Nike
• 17:21
  back
• 17:21
  on
• 17:21
  the
• 17:21
  map.
• 17:22
  They
• 17:22
  are
• 17:22
  perceived
• 17:23
  as
• 17:23
  being
• 17:23
  not
• 17:23
  cool
• 17:24
  right
• 17:24
  now
• 17:24
  and
• 17:24
  they
• 17:25
  just
• 17:25
  cannot
• 17:25
  have
• 17:25
  that.
• 17:26
  Nike
• 17:26
  needs
• 17:26
  to
• 17:26
  get
• 17:26
  back.
• 17:27
  They
• 17:27
  need
• 17:27
  to
• 17:27
  grow
• 17:27
  their
• 17:27
  stock,
• 17:28
  they
• 17:28
  need
• 17:28
  to
• 17:28
  make
• 17:29
  more
• 17:29
  money,
• 17:29
  and
• 17:29
  they're
• 17:30
  going
• 17:30
  to
• 17:30
  do
• 17:30
  that
• 17:30
  off
• 17:30
  the
• 17:31
  backs
• 17:31
  of
• 17:31
  athletes
• 17:31
  and
• 17:31
  they're
• 17:32
  going
• 17:32
  to
• 17:32
  do
• 17:32
  that
• 17:32
  off
• 17:32
  the
• 17:33
  backs
• 17:33
  of
• 17:33
  sneaker
• 17:34
  culture.
• 17:34
  Before
• 17:35
  we
• 17:35
  get
• 17:35
  to
• 17:35
  the
• 17:35
  end
• 17:35
  of
• 17:35
  the
• 17:36
  episode,
• 17:36
  though,
• 17:36
  as
• 17:37
  always,
• 17:37
  I
• 17:37
  have
• 17:37
  a
• 17:37
  release
• 17:38
  of
• 17:38
  the
• 17:38
  week
• 17:38
  for
• 17:38
  you.
• 17:52
  Release
• 17:52
  of
• 17:52
  the
• 17:53
  week
• 17:53
  where
• 17:53
  I
• 17:54
  like
• 17:54
  to
• 17:54
  give
• 17:54
  you
• 17:54
  a
• 17:54
  shoe
• 17:55
  that
• 17:55
  catches
• 17:55
  my
• 17:56
  eye.
• 17:56
  It's
• 17:56
  not
• 17:56
  always
• 17:56
  hype.
• 17:57
  Sometimes
• 17:57
  it
• 17:58
  is.
• 17:58
  It's
• 17:58
  just
• 17:58
  something
• 17:59
  that
• 17:59
  I
• 17:59
  want
• 17:59
  you
• 17:59
  to
• 17:59
  know
• 17:59
  about.
• 18:00
  This
• 18:00
  is
• 18:00
  a
• 18:00
  shoe
• 18:00
  that
• 18:01
  I
• 18:01
  have
• 18:01
  seen
• 18:01
  a
• 18:01
  lot
• 18:01
  of
• 18:02
  people
• 18:02
  talking
• 18:02
  about
• 18:03
  on
• 18:03
  social
• 18:03
  media,
• 18:04
  specifically
• 18:04
  Instagram,
• 18:05
  but
• 18:05
  it
• 18:05
  is
• 18:06
  on
• 18:06
  September
• 18:06
  30,
• 18:07
  2024,
• 18:08
  the
• 18:08
  Nike
• 18:08
  Air
• 18:09
  Max
• 18:09
  95
• 18:10
  erosion.
• 18:11
  The
• 18:11
  Air
• 18:11
  Max
• 18:12
  95,
• 18:12
  as
• 18:12
  I
• 18:12
  said,
• 18:13
  is
• 18:13
  one
• 18:13
  of
• 18:13
  those
• 18:13
  if
• 18:13
  you
• 18:13
  know,
• 18:14
  you
• 18:14
  know,
• 18:14
  kind
• 18:14
  of
• 18:15
  silhouettes.
• 18:15
  If
• 18:16
  you
• 18:16
  grew
• 18:16
  up
• 18:16
  with
• 18:16
  it,
• 18:16
  if
• 18:17
  you
• 18:17
  grew
• 18:17
  up
• 18:17
  wearing
• 18:17
  it,
• 18:18
  you
• 18:18
  know
• 18:18
  how
• 18:18
  fire
• 18:18
  it
• 18:19
  is.
• 18:19
  Maybe
• 18:19
  if
• 18:20
  you
• 18:20
  haven't
• 18:20
  seen
• 18:20
  it
• 18:20
  before,
• 18:21
  maybe
• 18:21
  if
• 18:21
  you're
• 18:21
  not
• 18:21
  familiar
• 18:22
  with
• 18:22
  it.
• 18:22
  It
• 18:22
  doesn't
• 18:22
  seem
• 18:23
  like
• 18:23
  it's
• 18:23
  something
• 18:23
  that
• 18:23
  fits
• 18:24
  in
• 18:24
  today's
• 18:24
  aesthetic,
• 18:25
  today's
• 18:25
  society.
• 18:26
  But
• 18:26
  this
• 18:26
  rosen
• 18:27
  shoe
• 18:27
  with
• 18:28
  two
• 18:28
  different
• 18:28
  shoes,
• 18:29
  with
• 18:29
  the
• 18:29
  colors
• 18:30
  that
• 18:30
  it
• 18:30
  has,
• 18:30
  that
• 18:30
  muted,
• 18:31
  earthy
• 18:32
  palette,
• 18:32
  I
• 18:32
  think
• 18:33
  it's
• 18:33
  actually
• 18:33
  beautiful.
• 18:34
  It's
• 18:34
  really
• 18:35
  awesome.
• 18:35
  I
• 18:35
  won't
• 18:35
  be
• 18:36
  going
• 18:36
  out
• 18:36
  for
• 18:36
  it
• 18:36
  because
• 18:36
  I've
• 18:37
  copped
• 18:37
  enough
• 18:37
  this
• 18:38
  year.
• 18:38
  I
• 18:38
  see
• 18:38
  a
• 18:38
  lot
• 18:39
  of
• 18:39
  hype
• 18:39
  for
• 18:39
  it.
• 18:39
  I
• 18:39
  see
• 18:39
  a
• 18:39
  lot
• 18:39
  of
• 18:40
  people
• 18:40
  talking
• 18:40
  about
• 18:40
  it.
• 18:40
  The
• 18:41
  thing
• 18:41
  is,
• 18:41
  though,
• 18:41
  this
• 18:42
  is
• 18:42
  not
• 18:42
  going
• 18:42
  to
• 18:42
  be
• 18:42
  like
• 18:42
  a
• 18:43
  hyped
• 18:43
  release
• 18:43
  in
• 18:43
  the
• 18:44
  same
• 18:44
  way
• 18:44
  that
• 18:44
  you'd
• 18:44
  see
• 18:44
  a
• 18:45
  Travis
• 18:45
  Scott.
• 18:46
  This
• 18:46
  is
• 18:46
  just
• 18:46
  a
• 18:46
  very
• 18:47
  beautiful
• 18:47
  shoe,
• 18:47
  at
• 18:47
  least
• 18:48
  from
• 18:48
  the
• 18:48
  pictures.
• 18:49
  It's
• 18:49
  part
• 18:49
  of
• 18:49
  the
• 18:49
  city
• 18:50
  pack
• 18:50
  and
• 18:50
  I
• 18:50
  think
• 18:50
  it's
• 18:51
  just
• 18:51
  a
• 18:51
  great,
• 18:52
  great
• 18:52
  addition
• 18:53
  to
• 18:53
  the
• 18:53
  Air
• 18:53
  Max
• 18:53
  95
• 18:54
  lineup.
• 18:55
  We've
• 18:55
  seen
• 18:55
  some
• 18:55
  awesome
• 18:56
  ones
• 18:56
  with
• 18:56
  that
• 18:56
  Toronto
• 18:56
  release
• 18:57
  a
• 18:57
  couple
• 18:57
  of
• 18:57
  weeks
• 18:57
  ago.
• 18:58
  So
• 18:58
  we
• 18:58
  got
• 18:58
  two
• 18:59
  fire
• 18:59
  air
• 18:59
  Max
• 19:00
  95s
• 19:00
  right
• 19:00
  in
• 19:01
  a
• 19:01
  row.
• 19:01
  And
• 19:01
  I
• 19:02
  believe
• 19:02
  that
• 19:02
  that
• 19:02
  is
• 19:03
  your
• 19:03
  time
• 19:03
  to
• 19:03
  cop
• 19:04
  one.
• 19:04
  If
• 19:04
  you
• 19:04
  do
• 19:04
  not
• 19:04
  have
• 19:04
  one,
• 19:05
  and
• 19:05
  it
• 19:05
  is
• 19:05
  a
• 19:05
  beautiful
• 19:06
  one,
• 19:06
  it's
• 19:06
  perfect
• 19:06
  for
• 19:07
  fall.
• 19:07
  It's
• 19:07
  perfect
• 19:07
  for.
• 19:08
  Honestly,
• 19:08
  it's
• 19:08
  perfect
• 19:08
  for
• 19:09
  any
• 19:09
  time.
• 19:09
  So
• 19:09
  if
• 19:10
  you
• 19:10
  need
• 19:10
  an
• 19:10
  Air
• 19:10
  Max
• 19:10
  95
• 19:11
  in
• 19:11
  your
• 19:11
  collection,
• 19:11
  that
• 19:12
  is
• 19:12
  the
• 19:12
  time.
• 19:13
  Do
• 19:13
  you,
• 19:13
  as
• 19:13
  sneaker
• 19:14
  culture
• 19:14
  care
• 19:15
  about
• 19:15
  CEO's
• 19:15
  and
• 19:16
  do
• 19:16
  you
• 19:16
  think
• 19:16
  that
• 19:16
  this
• 19:16
  changeover
• 19:17
  is
• 19:17
  going
• 19:17
  to
• 19:17
  make
• 19:18
  things
• 19:18
  better
• 19:18
  for
• 19:18
  the
• 19:18
  culture
• 19:19
  or
• 19:19
  do
• 19:19
  you
• 19:19
  think
• 19:19
  it
• 19:20
  just
• 19:20
  doesn't
• 19:20
  matter?
• 19:21
  I
• 19:21
  would
• 19:21
  love
• 19:21
  to
• 19:21
  know.
• 19:22
  Call
• 19:22
  the
• 19:22
  fire
• 19:22
  footwear
• 19:23
  hotline.
• 19:23
  Give
• 19:23
  me
• 19:23
  a
• 19:24
  sneaker
• 19:24
  story.
• 19:24
  Give
• 19:24
  me
• 19:25
  your
• 19:25
  opinion.
• 19:25
  I'd
• 19:26
  love
• 19:26
  to
• 19:26
  play
• 19:26
  it
• 19:26
  on
• 19:26
  a
• 19:27
  future
• 19:27
  episode.
• 19:27
  And
• 19:28
  that
• 19:28
  is
• 19:28
  for
• 19:28
  your
• 19:28
  us
• 19:29
  callers.
• 19:29
  Area
• 19:30
  code
• 19:30
  202-643-9170
• 19:34
  if
• 19:34
  you're
• 19:34
  international,
• 19:35
  just
• 19:35
  make
• 19:35
  sure
• 19:35
  you
• 19:35
  get
• 19:35
  that
• 19:36
  plus
• 19:36
  one
• 19:36
  country
• 19:37
  code
• 19:37
  in
• 19:37
  there.
• 19:38
  I
• 19:38
  love
• 19:38
  to
• 19:38
  hear
• 19:38
  from
• 19:39
  all
• 19:39
  the
• 19:39
  people
• 19:39
  who
• 19:39
  are
• 19:40
  part
• 19:40
  of
• 19:40
  sneaker
• 19:40
  culture.
• 19:41
  You
• 19:41
  can
• 19:41
  find
• 19:41
  me
• 19:42
  on
• 19:42
  Instagram.
• 19:42
  The
• 19:42
  handle
• 19:43
  is
• 19:43
  I
• 19:43
  rfootwearpod.
• 19:44
  If
• 19:45
  you
• 19:45
  want
• 19:45
  to
• 19:45
  see
• 19:45
  reels,
• 19:45
  you
• 19:45
  want
• 19:46
  to
• 19:46
  see
• 19:46
  videos,
• 19:46
  you
• 19:46
  can
• 19:46
  find
• 19:47
  me
• 19:47
  on
• 19:47
  TikTok
• 19:47
  you
• 19:47
  can
• 19:48
  find
• 19:48
  me
• 19:48
  on
• 19:48
  YouTube.
• 19:49
  Fire
• 19:49
  footwear
• 19:50
  sneakers
• 19:50
  talk
• 19:50
  with
• 19:51
  Matt
• 19:51
  freights
• 19:51
  what
• 19:52
  you
• 19:52
  would
• 19:52
  search
• 19:52
  if
• 19:53
  you
• 19:53
  go
• 19:53
  to
• 19:53
  YouTube.
• 19:53
  I'm
• 19:54
  just
• 19:54
  shy
• 19:54
  of
• 19:54
  1400
• 19:55
  subscribers.
• 19:56
  Please
• 19:56
  hit
• 19:56
  like
• 19:56
  please
• 19:57
  hit
• 19:57
  subscribe.
• 19:58
  It
• 19:58
  would
• 19:58
  mean
• 19:58
  the
• 19:58
  world
• 19:58
  to
• 19:59
  me
• 19:59
  because
• 19:59
  I'm
• 19:59
  trying
• 19:59
  to
• 19:59
  do
• 19:59
  some
• 20:00
  different
• 20:00
  things
• 20:00
  out
• 20:01
  there.
• 20:01
  Hope
• 20:01
  this
• 20:01
  finds
• 20:02
  everybody
• 20:02
  well,
• 20:02
  fam,
• 20:02
  I
• 20:03
  hope
• 20:03
  this
• 20:03
  finds
• 20:03
  everybody
• 20:04
  safe.
• 20:04
  And
• 20:04
  as
• 20:04
  always,
• 20:05
  I
• 20:05
  will
• 20:05
  talk
• 20:05
  to
• 20:06
  you
• 20:06
  next
• 20:06
  time.
• 20:07
  This
• 20:07
  is
• 20:07
  fire
• 20:07
  footwear.
• 20:26
  The
• 20:26
  opinions
• 20:27
  and
• 20:27
  viewpoints
• 20:28
  expressed
• 20:28
  on
• 20:28
  fire
• 20:29
  footwear
• 20:29
  are
• 20:30
  those
• 20:30
  of
• 20:30
  Matt
• 20:30
  freights
• 20:31
  and
• 20:31
  his
• 20:31
  guest,
• 20:31
  and
• 20:32
  not
• 20:32
  necessarily
• 20:33
  those
• 20:33
  of
• 20:33
  the
• 20:33
  Matti
• 20:34
  Ice
• 20:34
  media
• 20:34
  network.
• 20:35
  Fire
• 20:36
  footwear
• 20:36
  is
• 20:37
  exclusively
• 20:37
  owned
• 20:37
  by
• 20:38
  Matt
• 20:38
  Freights
• 20:38
  and
• 20:39
  is
• 20:39
  brought
• 20:39
  to
• 20:39
  you
• 20:39
  by
• 20:40
  the
• 20:40
  Matti
• 20:40
  Ice
• 20:40
  Media
• 20:41
  Network.