The marketing campaign they launched in April 2023 also deteriorated their brand position. It earned them woke coins, but the NPV of all those future woke coins flows was negative.

People on HN are, of course, going to pretend that moving from Michael Jordan to Dylan Mulvaney and whoever that overweight "Own The Floor" lady aren't a huge downgrade. Wearing Nike became kind of embarrassing.

I certainly won’t be wearing Nike anymore because of it. I’m clearly not the target audience.