Tag: nike

• Self-expression and community move online

  The New Consumer, in collaboration with Coefficient Capital, just published its latest Consumer Trends report, which you can download for free over here (registration required). There’s a lot in the report to flip through, but I thought I would share these two slides:

  

  

  Generation Z and Millennials now make up ~40% of the US population and they are soon entering their prime consumer spending years. What’s noteworthy about these charts, but perhaps not surprising, is the extent in which self-expression and a sense of community have shifted from offline to online.

  Very few Boomers, at least according to this report, feel like themselves online. But nearly half of Gen Z feel most like themselves online. What it means to be part of a “community” has also shifted dramatically, with more if it happening online or at least partially online.

  All of this ties into what happened earlier in the week with Nike announcing the acquisition of RTFKT Studios. As I mentioned in this post, the so-called metaverse doesn’t necessarily have to mean VR goggles and living in video games. It can simply mean placing value on the parts of our lives that are now digital. The above two charts suggest that many are already doing this.

  Of course, what all of this means for our physical lives is an important question. Josh Stephens recently argued, over at Planetizen, that the metaverse is going to be really bad for cities. The more we focus on seductive virtual worlds, the less we will focus on our physical spaces. I get this logic.

  But again, I think it depends on how you define the metaverse. And I think VR headsets are a pretty narrow definition. I am both a lover of technology and a lover of cities. And throughout this pandemic I have been fairly consistent in writing about the resiliency of cities. Nothing in this post changes that for me.

  2021.12.17

• Of course, Nike buys digital sneaker company

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  A post shared by RTFKT (@rtfkt)

  This week it was announced that Nike has acquired RTFKT Studios (pronounced “artifact”) for an undisclosed amount. When I read the news (official Nike announcement here), I immediately thought to myself, “Yeah, of course!”

  Some of you may remember that I wrote about RTFKT back in April. They are perhaps best known for their digital sneaker NFTs (on the Ethereum blockchain). And so this is an exceedingly obvious and strategic buy for Nike.

  But more importantly, I think this is great validation for the crypto/NFT space and further evidence that our digital and physical worlds are continuing to collide in some new and very interesting ways.

  What this ultimately means for life in 10 or 20 years is anybody’s guess, but sneakers are the tip of the iceberg. And this doesn’t necessarily mean that we’re all destined to live in some sort of metaverse video game.

  Another way to look at this whole metaverse thing is to consider it not as an actual place or space, but instead as a moment in time (Shaan Puri makes this argument here). Put differently, the metaverse is simply a point in time where we begin to bestow tremendous value on our digital life and our digital assets.

  Instagram is one example of this. Profiles have become integral to people’s identifies. We use them to vet restaurants. We use them to vet travel destinations. And we use them to vet potential dating partners, among many other things.

  So while sneaker NFTs might be a new thing, there’s already lots of evidence that digital goods can have just as much value — and potentially even more value — than physical goods. I am sure that Nike recognizes this and it’s part of why they bought RTFKT.

  2021.12.14

• Yes, just do it

  

  https://500px.com/embed.js

  I have started to meet with developers for my new book – becoming a real estate developer – and I can’t begin to tell you how impressive and inspiring it is to learn about their stories.

  It’s easy to look at someone who is successful and feel overwhelmed by everything they’ve accomplished. But nobody starts at the top of their game (unless maybe they were born with a silver spoon in their mouth). Usually there’s a backstory of sweat and struggle that rarely gets told. As the saying goes: success has many fathers, but failure is an orphan.

  But those are exactly the kinds of things I hope to uncover with this little project. I am less interested in the successes and more interested in the early decisions, struggles, and thoughts that went into making those successes even possible.

  And one thing I’ve noticed is a tendency to just go for it. In fact, when I asked one developer if he had any advice for young aspiring developers, he said: just fucking do it.

  As soon as he said this I couldn’t help but think of my elementary school English teacher who used always tell us the same thing – minus the expletive – whenever we’d ask him something such as, how long should this paper be, should we focus on this or that, and so on. He would always say: What does Nike say? Just do it. No buts. Just do it.

  At the time, I obviously didn’t give this much thought. But the fact of the matter is there’s so much value in doing. And it’s easy to overthink at the expense of doing. What he was teaching us was to have confidence in ourselves that we would figure it out along the way.

  The reason there appears to be a lot of interest in “how to be a real estate developer” is because there isn’t really a set path. You don’t go to school, apprentice for a year under the wing of a developer and then, boom, you’re a developer. 

  Most developers have carved their own paths. They just did it.

  2015.12.30

• Just do it

  Growing up, I had one of the best English teachers around. He was the kind of English teacher who would dim the lights, light incense and play Bob Marley in the midst of class. He had also previously taught in Jamaica, which might help to explain this behaviour.

  I had him as a teacher in both elementary school and in high school. All in all, he probably taught me 3 or 4 years of English–excluding the fact that he was also the coach of my high school basketball team (which I was on).

  But more than just being a cool guy, he drilled a number of important takeaways and life lessons into his students. Still to do this day I remember and try and follow them. And I know that many of my classmates do the same. So today, I’d like to share 3 of them with you.

  1. Don’t say umm

  We all say “umm” from time to time to fill in our sentences when we can’t think fast enough or we don’t know what to say, but it sounds awful. It also makes you sound indecisive and less clear about the message you’re trying to get across. 

  If we ever said “umm” in class he would make us repeat our sentence again and again until we said it without saying “umm.” He would literally stand there saying: “Start again. Start again. Start again.”

  Similarly, he wouldn’t allow us to say “like”, unless we were using it to truly express that something had the same qualities as something else. But if you just said like for no reason, he would say: “Is it like that or is it that?” Again, it’s about being clear and precise in your language.

  2. Don’t use very

  By using adverbs such as very and extremely, you’re taking the easy way out. There’s always a better word or way to convey your message. Don’t say you’re very tired; say you’ve reached a point of debilitating exhaustion. Better yet, make up your own word (he never said that). Very is boring, lazy and uninventive.

  3. Just do it

  When we used to ask him how long he wanted our essays to be, he would always reply with the same thing: “As long as a piece of string.” And when we initially asked him how long a piece of string was, he would then say: “Just do it.” That was his message over and over again to us: when in doubt, just do it. We eventually stopped asking.

  At the time, I never really understood how profound this simple message was. Initially I thought he just wanted us to get on with things but, in fact, he was saying so much more. He was telling us to stop relying on others for direction. Stop following orders, and take initiative. Just do it. Poke the box, dammit.

  I’ve had this post sitting in my draft folder for a few months now. I don’t often deviate from city related topics, but I wanted to put this one out there. So if you’re reading this Mr. Mott-Trille, umm, like, thanks so very much! 🙂

  2014.03.20