.. tell us what you see that gives you hope. To the extent that you can share, I’m curious what you’re seeing that makes you think the company can and will turn it around .
8 replies (most recent on top)
Glass is shattered.
@ck “Internal problems” is one way to put it. Losing roughly $200 billion in market value and watching the stock collapse from around $170 to $38 isn’t a small crack in the glass, it’s the glass being launched through a fu--ing window.
But sure, let’s call it “macroeconomic challenges” and wait for the economy to magically fix years of bad decisions. Very glass-half-full. Unfortunately, the other half appears to contain shareholder value.
@ar I’m convinced the only people left in tech there have HR files so complicated the company is too scared to fire them.
My beer glass (at least for the next minute or so)…
Here's my glass half full take. Nike has it's internal problems, but I feel more than half of our challenges today is macroeconomic. All footwear and apparel companies are struggling. When the economy is tough, some weaker companies(i.e. Allbirds) will go out of business. Even the more profitable ones(i.e. Nike) will be forced to become leaner and work more efficiently. When the economy eventually turns around, Nike will come out stronger if it were to make the necessary changes during this downturn.
@a9 Nothing says “world-class innovation” quite like a collection of mediocre a--holes collecting oversized paychecks while contributing somewhere between the bare minimum and absolutely nothing.
Nike has become a parody of the company it claims to be, bloated with self-important people who confuse their job titles, internal politics, and endless meetings with actual talent and impact. Far too many seem convinced they’re indispensable and extraordinary.
That illusion won’t last forever. When reality finally catches up, the rude awakening will be spectacular.
I consider myself optimistic, but even I think the haydays are over. Nike has a lot of life left in it, and will be around for longer than I will, but they are going to need to trim down to under 50k employees, which is going to be a lot of layoffs for a lot of people. I also think that if midterms prevent the current party in power from controlling all three pillars of government, we will see some moderating effects on the economy, lessening the severe damage that has been caused since they took control. I also don't think there is anything fundamentally wrong with the company, there just needs to be a talent reset in a lot of areas to flush out all the garbage that has accumulated. Not an easy feat, but not impossible either. There is no solution that is going to be painless though.
Lmao. This isn’t existential for “the glass half full people.” They have a job where if they show up to work and get paid that’s enough for them. Bonus is they make more money than 9/10 of their Portland friends and they also get to go on a run or go to the gym during work hours. Kindly, shut the fu-k up. Thanks.