Tech VC on Nike’s worst-ever stock fall: ‘Mastery & excellence became too traditional’

Nike recently witnessed the worst fall in its stock history, raising questions about what went wrong for the American giant once synonymous with athletic excellence. The decline prompted sharp commentary from tech venture capitalist Chamath Palihapitiya, who reflected on how the company lost sight of its original version. Palihapitiya argued that Nike’s early success was built on a clear North Star: “Somewhere along the way, mastery and excellence became too traditional looking. So they went to things that were just nothing to be associated with mastery or excellence. I don't aspire to be a fat person. Never have, never will. I aspire to be Michael Jordan. Always have, always will." He recalled growing up seeing icons like Michael Jordan, Tiger Woods, Serena Williams, and Pete Sampras, all representing the pinnacle of athletic achievement. “I don’t aspire to be a fat person.