How Nike sold its first shoes
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How Nike sold its first shoes
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Re: How Nike sold its first shoes
#2Shoe dog is a great book. It was really interesting to read him talk about his issues with liquidity and him lamenting the lack of VC funding at the time. Of course he doesn't really address the downsides of VC funding but the local bank he works with is a quaint reminder of how far things have come. A good story and a great reminder that choice of founder partner is crucial to your success.
It contributes to my belief that there are way too many technical founders working on absolutely horrible ideas that would be able to the foundation for a great company but don't have the skill set to determine what that is. I think after the impending recession when VC money dries up this skill will be in high demand.
Re: How Nike sold its first shoes
#3Shoe dog is a great book. It was really interesting to read him talk about his issues with liquidity and him lamenting the lack of VC funding at the time. Of course he doesn't really address the downsides of VC funding but the local bank he works with is a quaint reminder of how far things have come. A good story and a great reminder that choice of founder partner is crucial to your success. It contributes to my beli…
A good story and a great reminder that choice of founder partner is crucial to your success.
Let's not forget Bill Bowerman.
His wife Barbara's waffle iron is in the same league of corporate lore as Hewlett-Packard's one-car garage.
And the reason Nike's address is One Bowerman Way, Beaverton, Oregon.
Re: How Nike sold its first shoes
#4From LinkedIn to here. Hmm.
Re: How Nike sold its first shoes
#5Shoe dog is a great book. It was really interesting to read him talk about his issues with liquidity and him lamenting the lack of VC funding at the time. Of course he doesn't really address the downsides of VC funding but the local bank he works with is a quaint reminder of how far things have come. A good story and a great reminder that choice of founder partner is crucial to your success. It contributes to my beli…
> I think after the impending recession when VC money dries up this skill will be in high demand.
The next dry-up will be modest, it might last 12-18 months. The last one lasted a mere 2 to 2 1/2 years and required a rather extreme global recession. The US and globe broadly are drowning in truly enormous amounts of capital yielding nothing or close to nothing. Ten trillion dollars in wealth held in government debt yielding nothing. Tens of trillions more held in other low yielding bonds. There is a lot more real wealth (inflation adjusted) in investor hands today than there was just 20 years ago (at the dotcom bust). That capital is desperate for returns and will remain so. A 1/3 correction in the US stock market would merely set it back to April 2016.
The Fed is now permanently in liquidity mode, primed to rapidly flood the system as needed. They're on twitch notice for the next QE round. This won't change for decades at least, as the Fed must endlessly run debt monetization programs, and always keep rates artificially low, to keep the US Government solvent (5% * $30 trillion = bankrupt US Government).
Pretty much every central bank of consequence is in liquidity flood mode. They're mostly all behaving similarly.
Venture capital will remain ample in such an environment of perma low rates and relatively low inflation.
Ability, skill, will become drastically more valuable over the next ~20 years. Capital will become even easier to access and even more plentiful, if you are competent and or more generally have something to sell. The rich will get richer over the next 20 years and they will always be looking for somewhere to park it. The processes occuring now, including population stagnation in wealthy nations and aggressively advancing automation (robotics, AI, et al.) will push even more wealth to the top (taxes on the rich will rise in some cases to attempt to resolve that, certainly in the US). The returns that a capable individual can generate for capital, will soar in the coming decades. It's going to be an era of rather extreme value-capture amplification for people that have consequential skills; ever greater returns going to ever small groups of people.
With population stagnation and or contraction in much of the developed world (which is only going to get worse), finding enough skilled / talented people will remain the problem, not capital. Simply put, the capital to skilled person ratio in affluent nations will continue to rapidly climb in favor of the skilled persons.
Re: How Nike sold its first shoes
#6Shoe dog is a great book. It was really interesting to read him talk about his issues with liquidity and him lamenting the lack of VC funding at the time. Of course he doesn't really address the downsides of VC funding but the local bank he works with is a quaint reminder of how far things have come. A good story and a great reminder that choice of founder partner is crucial to your success. It contributes to my beli…
> I think after the impending recession when VC money dries up this skill will be in high demand. The next dry-up will be modest, it might last 12-18 months. The last one lasted a mere 2 to 2 1/2 years and required a rather extreme global recession. The US and globe broadly are drowning in truly enormous amounts of capital yielding nothing or close to nothing. Ten trillion dollars in wealth held in government debt yi…
Your comment was a great read! Thank you.
So, what would it take for that future not to happen? Or what should the people that are going to be the most affected do?
Re: How Nike sold its first shoes
#7Shoe dog is a great book. It was really interesting to read him talk about his issues with liquidity and him lamenting the lack of VC funding at the time. Of course he doesn't really address the downsides of VC funding but the local bank he works with is a quaint reminder of how far things have come. A good story and a great reminder that choice of founder partner is crucial to your success. It contributes to my beli…
I just finished reading the book yesterday. It's amazing what Nike had gone through to become the company today. I learned to have great respect for Phil Knight, but I don't understand why he mistreated Jeff Johnson. In the book, Jeff Johnson clearly believes in the company and Phil Knight. He goes out of his way several times, sacrificing himself to make the company afloat. And yet, Phil Knight doesn't treat Johnson with the respect he deserves. He flat out ignores him for an extended period while Jeff Johnson reaches out for input from his boss. That's rude even for a boss. Why would Phil Knight do this? He doesn't explain in the book and it's really annoying.
Re: How Nike sold its first shoes
#8Shoe dog is a great book. It was really interesting to read him talk about his issues with liquidity and him lamenting the lack of VC funding at the time. Of course he doesn't really address the downsides of VC funding but the local bank he works with is a quaint reminder of how far things have come. A good story and a great reminder that choice of founder partner is crucial to your success. It contributes to my beli…
> I think after the impending recession when VC money dries up this skill will be in high demand. The next dry-up will be modest, it might last 12-18 months. The last one lasted a mere 2 to 2 1/2 years and required a rather extreme global recession. The US and globe broadly are drowning in truly enormous amounts of capital yielding nothing or close to nothing. Ten trillion dollars in wealth held in government debt yi…
Sounds a bit "free lunchy" to me. So nothing can stop the tidal wave of more government freshly printed money? What about the fact the money is really debt and that needs to be kept serviced? What about another credit crunch?
Hyperinflation? What if people run from holding USD. Not likely, but who knows what will happen in 20 years time?
Re: How Nike sold its first shoes
#9Shoe dog is a great book. It was really interesting to read him talk about his issues with liquidity and him lamenting the lack of VC funding at the time. Of course he doesn't really address the downsides of VC funding but the local bank he works with is a quaint reminder of how far things have come. A good story and a great reminder that choice of founder partner is crucial to your success. It contributes to my beli…
A good story and a great reminder that choice of founder partner is crucial to your success. Let's not forget Bill Bowerman. His wife Barbara's waffle iron is in the same league of corporate lore as Hewlett-Packard's one-car garage. And the reason Nike's address is One Bowerman Way, Beaverton, Oregon.
Dude is a legend. One of my favorite parts in Wild Wild Country is when they're interviewing "local rancher" Jon Bowerman. Paraphrasing, but there's a part where he's talking about his father and it goes something like: "He fought in the war...went behind enemy lines in Italy and convinced the German 8th Army to surrender. Then he led the Ducks to 4 national championships and became US Olympic coach, but retired heartbroken after Munich. Then one day he was in the garage and melted some old retreat rubber with a waffle iron and glued it to an old worn out shoe. The result became...uh...Nike""
Re: How Nike sold its first shoes
#10Earlier quoted context omitted.
A good story and a great reminder that choice of founder partner is crucial to your success. Let's not forget Bill Bowerman. His wife Barbara's waffle iron is in the same league of corporate lore as Hewlett-Packard's one-car garage. And the reason Nike's address is One Bowerman Way, Beaverton, Oregon.
Dude is a legend. One of my favorite parts in Wild Wild Country is when they're interviewing "local rancher" Jon Bowerman. Paraphrasing, but there's a part where he's talking about his father and it goes something like: "He fought in the war...went behind enemy lines in Italy and convinced the German 8th Army to surrender. Then he led the Ducks to 4 national championships and became US Olympic coach, but retired hear…
You would have liked Arthur Lydiard as well.