Nike Exec Ousted, SpaceX Starship Success, Jack Dorsey & Jay-Z | Bold Business
March 10, 2021
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as posted by the channelWelcome back to Bold Business with Philip Michael! Be sure to like, subscribe, and hit the notification bell for your weekly dose of anything BOLD.
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SpaceX Starship Prototype Lands & Explodes - After a successful flight, the starship exploded during takeoff. Thank goodness no one was on board and there were no injuries. SpaceX conducted tests in November and February and both blew up upon impact, but this is a step in the right direction since it blew up instead minutes later. The team has more tests ready to go in the near future. If you recall, Elon Musk started the Starship Program because he hopes to have 1 million people living on Mars by 2050.
Nike Executive Steps Down - Ann Hebert, Nike’s Vice President/General Manager of the North American division, had to step down because her son runs a sneaker reselling business. She was in charge of Nike’s direct to consumer strategy which includes the Nike SNKRS app, where her son and others do a lot of reselling. Her son used her credit card to buy $100,000 of limited edition shoes, though he claims that he never got any inside information or coupon codes from her mother. Nike and Adidas both have issues with resellers buying their shoes and reselling them for huge markups with the use of strategies and bots.
Jack Dorsey Cashes In With Jay-Z - Jack Dorsey’s fintech company Square bought a majority stake in Jay-Z’s streaming service, Tidal, for $297M! Tidal’s existing artist shareholders, including Beyonce and Rihanna will still have ownership in the company, and Jay-Z is joining Square’s Board of Directors. Jack Dorsey’s plan with Square and Cashapp was economic empowerment, and that’s what he plans to bring to Tidal. He says he wants to focus on giving small artists the tools and exposure to build themselves up and create a career doing what they love.
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