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Nike is crashing and burning. Who would’ve thought that appealing to the woke mob at the expense of the majority would cost them billions? Today’s show breaks it down.

“When people talk about DEI as being racially motivated, Nike was the most popular athletic line, and it was almost entirely represented by Black athletes,” Crowder said. “How have they failed?”

According to Forbes:

Nike stock has fallen roughly 78% from its 2021 peak, traded this summer around levels investors had not seen in more than a decade, and is now about to suffer another symbolic blow.

“It just comes down to insulting your audience,” Crowder said. “Turns out, if you keep trying to force-feed them something that they don't want, your company does not do all that well.”

S&P Dow Jones Indices will remove Nike from the S&P 100, an index intended to represent some of America’s largest and most established blue-chip companies. It will remain in the S&P 500, so I would not overstate the mechanical significance of the change, but after everything that has happened to Nike over the last several years, the timing is difficult to ignore.

Nike has had several bad takes, but one of its worst ones was when it doubled down on Colin Kaepernick’s fake activism. In 2018, Nike put Kaepernick in its "Just Do It" campaign. That same year, Nike made a hijab marketed towards Muslim athletes. And in one of the most unpopular movements in American history, the company went all in on trans absurdity. In 2023, the company partnered with Dylan Mulvaney because it just could not out-woke itself. These are just several of the many asinine takes the company has taken over the last decade.

“You don't have the luxury of avoiding taking a side. If you are silent politically, most Conservatives will wish you spoke up but watch your stuff,” Crowder said. “The left will tell you silence is violence. So, when athletes are forced to pick a side, it is because the left has a purity test. They will seek you out and look through your old social media posts and make sure that everyone knows you did not pass their purity test.”