Thread regarding Nike Inc. layoffs

I agree NFTs are d-mb however… we can’t beat leadership up over every risk they take. Taking risks is what has kept Nike a leader in the market. A lot of risks don’t work. Some do. If we don’t want to become a stale brand then we need to be ok with some failed risks. I do agree that some of our risks haven’t been well researched, but this site loves to beat up on ANY failure.

What do you expect from a sociopath?

the fact that nike leadership decided to go after nfts shows how grossly incompetent nike is. giving the $$$ to nigerian scammers would've had a bigger impact than buying rtfkt

@1ydh+1rsqMChQ how much do you think JD was compensated for his keynote speaker appearance at Adobe’s annual conference in 2022? Surely it couldn’t have been related to Nike investing $1B+ for their platform

Oh! I'll even do everyone's googling for them.

LegalEagle - "NFTs Are Legally Problematic" is a complete teardown of NFTs.

If you don't want to watch 45 minutes of legalese it can be summarized as...

You're buying a 'hyperlink' and have no control or ownership of what the hyperlink is pointing at. Some players have created platforms (like our .swoosh) that try to extend that ownership over what the 'hyperlink' is pointed at, but then you have to ask yourself "Why is this written with blockchain? (With all the costs & inefficiencies that come with the technology)"
Your ownership is tied to a single company's health & goodwill. If the company goes under the best case scenario is that you "own" a hyperlink that references a server that's no longer running.

NFTs were another attempt at using technology to bypass existing laws, but the scammers didn't realize (or care) that they were selling vaporware.

Sigh... LMAO.. Can't believe we're still doing this, but here we go..

while digital currency is used to purchase NFTs, they're inherently 2 different things. If you haven't learned by now all the complexities, pitfalls and what was behind the synthetic bubble of the temporary NFT market I implore you to just do a tiny bit of research.

Good luck.. LOL

Add the Adobe disaster to the list for JD technology decisions.

NFTs are the future of art, people just haven’t seen it yet. People said the same thing about bitcoin and its trading at 70,000 right now. If you can’t see the future then you’re bound to lose your job to AI and be left behind financially with your US Treasury bonds

How’s that Datalogue acquisition working out? Whose idea was that fiasco?

Let’s also talk about the RAT and the massive budget he oversaw and engaged in fraudulent behavior against the company, and how he never directly reported into JD. They were setting AC up to fail with no tech background being RAT’s boss. It was a total miss that RAT never directly reported into JD, maybe JD would have been able to sniff out his BS given his own tech background.

Interesting how the new CTO directly reports into JD. Seems like they learned from their mistake but too little too late. Wonder what the stock price would be without the RAT fiasco

"We must demand answers, accountability and a CLEAR STRATEGY before the company’s stock and reputation drops further..." LOL...

It's a job, people.

What an unmitigated cluster***k that RTFKT acquisition was. Maybe the board is waiting for the NFT market to get hot again before it acknowledges that it was actually a stupid idea.

The Nike stock price on January 1, 2020 closed at 102.20, the closing price on March 8, 2024 was 99.16. Over 4+ years under Donahoe's "leadership," the company's stock price has lost value on Wall Street. Over a similar time period, prior to Donahoe's reign, the stock price was 65.26 on October 26, 2015 and closed at 100.80 on December 31, 2019. Clearly, Donahoe has brought the company no where from an investment standpoint

What I can't believe is the Board of Directors are somehow blind to this and they haven't removed him as Nike's CEO.