DiscoverMorning Brew DailyNike CEO Abruptly Steps Down After Struggling Sales & 23andMe in Turmoil
Nike CEO Abruptly Steps Down After Struggling Sales & 23andMe in Turmoil

Nike CEO Abruptly Steps Down After Struggling Sales & 23andMe in Turmoil

Update: 2024-09-20
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The podcast begins by celebrating Shohei Otani's remarkable achievement in Major League Baseball, becoming the first player to record 50 homeruns and 50 stolen bases in a single season. It then transitions to a sponsorship segment for Wise Business, an app designed to simplify international payments, highlighting the complexities of running a business across borders. The podcast delves into Nike's recent struggles, including declining market share and customer loss, attributing the issues to a lack of understanding of sneaker culture and a focus on infrastructure over brand coolness. The discussion then shifts to 23andMe, a DNA testing company facing a leadership struggle and a declining valuation. The hosts explore the reasons behind the board's mass resignation and the CEO's controversial plan to take the company private. The podcast features Darden Restaurants, the owner of Olive Garden, as the "Stock of the Week," discussing their recent decision to partner with Uber for delivery services. The "Dog of the Week" is Trump Media and Technology Group, the owner of TruthSocial, with the hosts discussing the company's declining stock price and the upcoming expiration of the lock-up period for insiders. The podcast concludes with a discussion about US gymnast Jordan Childs's fight to reclaim her bronze medal at the Paris Olympics, highlighting the role of a Netflix documentary in providing evidence that could support Childs's appeal.

Outlines

00:00:00
Shohei Otani's Historic Achievement and Business Challenges

The podcast begins by celebrating Shohei Otani's remarkable achievement in Major League Baseball, becoming the first player to record 50 homeruns and 50 stolen bases in a single season. It then transitions to a sponsorship segment for Wise Business, an app designed to simplify international payments, highlighting the complexities of running a business across borders. The podcast delves into Nike's recent struggles, including declining market share and customer loss, attributing the issues to a lack of understanding of sneaker culture and a focus on infrastructure over brand coolness.

00:07:52
DNA Testing, Restaurant Delivery, and Space Exploration

The discussion then shifts to 23andMe, a DNA testing company facing a leadership struggle and a declining valuation. The hosts explore the reasons behind the board's mass resignation and the CEO's controversial plan to take the company private. The podcast features Darden Restaurants, the owner of Olive Garden, as the "Stock of the Week," discussing their recent decision to partner with Uber for delivery services. The "Dog of the Week" is Trump Media and Technology Group, the owner of TruthSocial, with the hosts discussing the company's declining stock price and the upcoming expiration of the lock-up period for insiders.

00:19:17
Satellite Interference and Jordan Childs's Bronze Medal Appeal

The podcast concludes with a discussion about US gymnast Jordan Childs's fight to reclaim her bronze medal at the Paris Olympics, highlighting the role of a Netflix documentary in providing evidence that could support Childs's appeal. The hosts also discuss the growing concern among astronomers about the interference caused by satellite constellations, particularly SpaceX's Starlink, and its potential impact on radio astronomy.

Keywords

Shohei Otani


Shohei Otani is a Japanese professional baseball player who plays for the Los Angeles Dodgers. He is known for his exceptional skills as both a pitcher and a hitter, making him a unique and highly sought-after player in Major League Baseball.

International Business


International business refers to commercial transactions that occur across national borders. It involves various aspects, including global trade, foreign investment, and cross-border operations.

Sneaker Culture


Sneaker culture is a subculture that revolves around the appreciation and collection of athletic shoes, particularly sneakers. It encompasses fashion, trends, and a strong community of enthusiasts.

DNA Testing


DNA testing is a scientific process that analyzes an individual's genetic material to provide information about their ancestry, health risks, and other traits. It has become increasingly popular for personal and medical purposes.

Satellite Constellation


A satellite constellation is a group of multiple satellites that work together to provide a specific service, such as internet connectivity or Earth observation. These constellations are becoming increasingly common as technology advances.

Radio Astronomy


Radio astronomy is a branch of astronomy that studies celestial objects by observing the radio waves they emit. It allows scientists to study objects that are invisible to optical telescopes, such as black holes and distant galaxies.

Olive Garden


Olive Garden is a popular American restaurant chain known for its Italian-American cuisine and unlimited breadsticks.

TruthSocial


TruthSocial is a social media platform launched by Trump Media and Technology Group, known for its conservative leaning and its association with former President Donald Trump.

Q&A

  • What is the significance of Shohei Otani's recent achievement in Major League Baseball?

    Shohei Otani became the first player ever to record 50 homeruns and 50 stolen bases in a single season, a feat that has never been accomplished before and highlights his exceptional skills as both a pitcher and a hitter.

  • What are the challenges of running a business across borders?

    Running a business across borders involves managing multiple currencies, navigating different legal and regulatory environments, and coordinating operations in various locations.

  • What led to John Donahoe's departure as CEO of Nike?

    Donahoe's departure was attributed to a lack of understanding of sneaker culture and a focus on optimizing infrastructure over brand coolness, which ultimately led to declining market share and customer loss.

  • What is the current state of 23andMe and what are the challenges it faces?

    23andMe is facing a leadership struggle and a declining valuation. The board's mass resignation and the CEO's controversial plan to take the company private highlight the uncertainty surrounding its future.

  • How is Olive Garden attempting to turn around its declining sales?

    Olive Garden is partnering with Uber for delivery services, a significant shift from its previous stance against third-party delivery. This move aims to attract customers who prefer the convenience of ordering food online.

  • What is the potential impact of satellite constellations on astronomy?

    Satellite constellations, particularly SpaceX's Starlink, are causing interference with radio astronomy and potentially hindering our understanding of the universe. The increasing number of satellites in orbit raises concerns about the future of space observation.

  • How could a Netflix documentary potentially impact Jordan Childs's bronze medal appeal?

    The Netflix documentary provides evidence that could support Childs's appeal by showing that her coach made the inquiry within the required time limit. This evidence could potentially overturn the previous ruling and award Childs the bronze medal.

Show Notes

Episode 414: Neal and Toby break down with Nike CEO John Donahoe announces he is retiring after the company's struggling sales. Plus, the guys explain why every single board member resigned from 23andMe this week. Then, Olive Garden cuts a deal with Uber to deliver bread sticks and Trump Media shares prepare to slide as big shareholders can sell their stocks. Next up Starlink is getting in the way of astrology and can Netflix help Jordan Chiles get her Bronze medal back?

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00:00 - Shohei Ohtani makes history

02:40 - Nike CEO Steps Down

08:00 - 23andMe Struggles

12:00 - Olive Garden and Uber

16:00 - Trump Media stock falls

19:20 - Starlink blocking scientists

22:50 - Netflix helping Jordan Chiles

Learn more about your ad choices. Visit megaphone.fm/adchoices

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Nike CEO Abruptly Steps Down After Struggling Sales & 23andMe in Turmoil

Nike CEO Abruptly Steps Down After Struggling Sales & 23andMe in Turmoil

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