Nike cofounder Phil Knight once taught accounting classes at Portland State University

Nike only paid $35 for its famous swoosh logo—and cofounder Phil Knight didn't like it at first.

Nike's Phil Knight ran for Bill Bowerman at the University of Oregon before they became business partners

They became business partners when Knight tried to sell the Onitsuka Tigers to Bowerman for the Oregon track team. Bowerman told Knight he didn't just want the shoes; he wanted in on the whole deal.

Nike started out as a Japanese shoe distributor called Blue Ribbon Sports

Nike cofounder Phil Knight’s first business venture was distributing Onitsuka Tiger running shoes in America. Knight would drive to track meets and sell the shoes out of the back of his car.

Nike is one of the world's most recognizable brands, partly due to its 'swoosh' logo.

The business plan for Blue Ribbon Sports came from a Stanford assignment

Nike cofounder Phil Knight’s original idea was to begin selling Japanese shoes, which were cheaper and just as light and durable as the leading German shoes from Adidas and Puma, at a lower price in the American market. His last assignment in business school at Stanford became the original business plan for Blue Ribbon Sports.

Nike couldn’t sign legendary distance runner Steve Prefontaine due to regulations

Because of amateur running regulations, Prefontaine—who held every American running record from 2,000 to 10,000 meters at the time—couldn’t do a paid endorsement for Nike. So Nike’s Phil Knight decided to give him a $5K yearly stipend and print business cards that said Prefontaine was the “National Director of Public Affairs.” When asked what that meant, Knight said, “it means he can run fast.”

Bill Bowerman’s daughter-in-law found the waffle iron he used to create a breakthrough shoe

Nike cofounder and University of Oregon track coach Bill Bowerman poured polyurethane into a waffle iron for his first attempt at creating the revolutionary waffle-knit sole. The waffle iron, which was found in his backyard, now sits in Nike’s headquarters.

Nike was almost named ‘Dimension Six’

Jeff Johnson, the company’s first full-time employee, said the name came to him in a dream just before Blue Ribbon Sports filed a patent for the “Nike” football shoe. Nike cofounder Phil Knight wanted to name the company “Dimension Six,” but was ultimately convinced that a one-word name would be better. (Some users may experience a paywall.)

Nike went public in 1980, and the first share sold at $22

Nike stock plummeted in the four years that followed the company’s initial public offering (IPO). The company’s deal with Michael Jordan in 1984 ultimately revived investor confidence.

One of Nike’s most transformational executives started out as its lawyer

Rob Strasser helped settle a lawsuit against Onitsuka Tiger when Blue Ribbon Sports became Nike and stopped distributing the Japanese shoes. Strasser then became a powerhouse at Nike credited with saving the company from going under in the 1970s, before leaving the company in 1987.

Nike made retailers pay for Air Jordans upfront to guarantee stock

Instead of paying for the inventory sold, Knight locked retailers into iron-clad agreements, where the companies would pay upfront for Nike inventory (but at a 7% discount). Knight did this to leverage debt, allowing retailers a better chance at getting the wildly popular Air Jordans.

Bill Bowerman got the idea for the breakthrough waffle-knit running shoe from a waffle iron

Nike cofounder Bill Bowerman was trying to find new ways to create traction for his runners on artificial turf. He looked at the waffle iron and realized that the pattern would work for the shoes’ soles.

Bill Bowerman brought running for fitness to America

Nike cofounder Bill Bowerman once cowrote a book with a doctor, W.E. Harris, called “Jogging.” Published in 1967 by New York, Grosset & Dunlap, it introduced America to the idea of running for health, instead of just sport—and kicked off the fitness frenzy of the 1970s that fueled Nike’s early success. (Some readers may experience a paywall).

Watch Bill Nye discuss biomechanics and sustainability while shopping for sneakers

While exploring sneaker history and technology, Nye covers the science of structural design, air bubbles and materials, including algae foam. He once voiced a 20-minute guided run on the Nike Run Club app.

Nike’s slogan was inspired by a death row inmate’s last words

Advertising superstar Dan Wieden of legendary advertising agency Widen+Kennedy said he got inspiration for Nike’s “Just do it” from an inmate’s last words on death row. Wieden said the way the inmate talked about facing uncertainty inspired him.

Kanye abruptly left Nike in 2013 and took his Air Yeezys to Adidas for $10M

In 2009, Kanye West became the first non-athlete Nike produced a signature shoe for. However, Kanye left Nike for the company’s rival, Adidas, just a few years later. Kanye said Nike was stifling his creative vision, and he felt like he wasn’t getting enough royalties.

Michael Jordan’s mother persuaded him to meet with Nike instead of Adidas

Michael Jordan wore Converse when he played at UNC Chapel Hill, but always wanted to wear Adidas when he went to the NBA. He tried to get Adidas to match Nike's $2.5M deal, but Adidas wouldn’t do it.

A NASA engineer came up with the idea for the air-cushioned Nike Air shoes

Frank Rudy came to Nike with the idea of using air capsules in the soles of running shoes to provide better cushioning. The first shoe with this technology, the Tailwind, came out in 1979.

The first shoes Jordan got from Nike were against NBA regulations

The initial mockups Nike gave Jordan were entirely black and red. The NBA had strict rules around shoe color at the time that these colors violated. The story goes that Nike paid the $5K fine for each game that Jordan wore the shoes in, but there’s no photographic evidence that Jordan ever wore them in a game at all. Regardless, Nike created the “banned” ad, capitalizing on the controversy.

Nike’s labor practices became controversial in the 1990s—leading to widespread protests of the brand

In the 1990s, Nike came under fire for its use of factories with unsafe working conditions and child labour to produce its products. While Nike didn’t own the manufacturing sites, many people felt Nike was ultimately responsible for using sweatshops in countries like Vietnam and Thailand.

Bob Noyce coinvented the integrated circuit, cofounded Intel and Fairchild Semiconductor, and is considered one of the founders of Silicon Valley

Some even called Noyce the "Mayor of Silicon Valley." According to Steve Jobs, he was the "ultimate inventor, rebel, and entrepreneur." This Founders episode dissects an article from 1983 that explains Noyce's lasting impact.

John Foley was the president of e-commerce at Barnes & Noble before founding Peloton

Foley worked for Barnes & Noble during the company's race against Amazon to dominate the e-reader market (Barnes & Noble had the Nook and Amazon had the Kindle). Foley says his time working for Barnes & Noble helped him learn the business of digital media, which is a core element of Peloton's business.

Shaquille O’Neal showed up to a meeting with Nike wearing head-to-toe Reebok

Nike wanted to sign then-newcomer Shaquille O’Neill, but didn’t offer Shaq his own shoe because they had already signed Alonzo Mourning. Shaq said he felt like Nike didn’t understand his potential, and the company wouldn’t have given him as much creative control as Reebok would.

Peloton instructors have built expansive personal brands

Outside of teaching Peloton classes, many instructors have amassed large social media followings and brand deals—ranging from modeling for Puma and Adidas to "Dancing With The Stars" appearances. On top of their influencer work, leading instructors at Peloton—like Cody Rigsby, Emma Lovewell, and Robin Arzón—reportedly earn salaries of more than $500K.

These famous brands used to have different names

Did you know that Nike used to be called Blue Ribbon Sports? Or that Google was originally named BackRub? Getting a brand's name right is a tough job; there's an entire cottage industry of brand naming agencies to prove it. See which brands got it right the first time—and which ones might be better off with their current names—in this article.

Bill Nye holds patents for three inventions and designs for a digital abacus

His pointe shoes feature a support structure to protect ballet dancers' toes during performance. The throwing technique trainer guides athletes in achieving the optimal form for throwing a ball, while the educational magnifying glass made from a plastic bag and water featured on his show.

Nike made $126M in the first year of Air Jordan sales

The first pair of Air Jordans hit shelves in 1985 for $65. The company expected to sell $3M worth of shoes in the first three years, but ultimately blew past that goal in the first year of sales.

Stanford’s ‘How to Start a Startup’ series

Stanford’s archive of lectures about creating a startup includes advice from Y Combinator notables such as former YC president and OpenAI CEO Sam Altman and YC Cofounder Paul Graham.

When he first enrolled at Princeton University, Jeff Bezos wanted to study physics

He later changed his major to electrical engineering and computer science. He graduated Summa Cum Laude and received job offers at Intel, Nokia, and Accenture, but he declined those offers in favor of a job at a fintech startup.

Jeff Bezos started his career working at McDonald’s

He now claims that his high school gig at the fast food restaurant taught him about efficiency, customer service, and other valuable lessons that he took with him when building Amazon.

Apple’s third cofounder was its angel investor

Steve Jobs and Steve Wozniak are well-known for cofounding Apple, but the company had a third founder who acted as an angel investor: Mike Markkula, who invested $250K in 1977.

Beat Generation iconoclast William S. Burroughs once appeared in a Nike ad, singing the praises of 'new technology.'

Peloton's success is partly due to users' relationships with instructors

Despite Peloton's online model, most users feel a deep connection with the instructors and have created community groups around their shared identities (like being a mom or a lawyer). The relationship users have with their instructors has fueled consistent engagement and paved the way for instructors to take on personal brand deals. (Some users may experience a paywall.)

An interview with Laurene Powell Jobs

Steve Jobs is survived by his wife Laurene Powell Jobs, who has spent her career supporting social causes. Powell Jobs said she’s working to distribute the billions of dollars she received from her late husband.

The woman who coined the term ‘girlboss’ now has a VC firm called Trust Fund

In 2006, Amoruso founded the clothing company Nasty Gal, then later wrote a memoir called “#Girlboss” about her company’s meteoric rise. Later, she launched other ventures, including her “Business Class” business coaching series and the venture capital fund “Trust Fund.”

WNBA legend Sue Bird credits Title IX for her career

Few athletes are more decorated than Sue Bird, who’s won two NCAA championships, four WNBA titles, and five Olympic gold medals. In this interview, she explains how Title IX allowed her a successful career and why she believes the WNBA’s success is continuing to do the work that Title IX began.

YC was partly inspired by an investor named Julian Weber

Y Combinator Cofounder Paul Graham’s former professor’s husband Julian Weber provided $10K in seed funding to Graham’s previous startup, Viaweb in its early days. In exchange, Weber received 10% of the company. Weber’s involvement inspired Graham to start a program where investors were more involved with the companies they contributed seed funding to.

New rules introduced in 2021 let college athletes profit from their name, image, and likeness.

Running became more popular in the mid-20th century

Once considered a fringe activity, running eventually became an American interest. The trend was spurred in part by the 1966 book "Jogging," which was cowritten by Bill Bowerman, the cofounder of Nike.

Why Steve Jobs always wore the same outfit

Steve Jobs is well-known for his signature outfit: a black mock turtleneck and denim jeans. The outfit originated in Japan, where Jobs observed Sony employees all wearing matching uniforms. He proposed Apple employees do the same, but that idea was rejected. However, he still decided to create his own uniform.

The Beatles once sued Nike

Nike used The Beatles' "Revolution" in an ad, sparking a $15M lawsuit over the song's use. While The Beatles and Nike ultimately reached an agreement, Nike ushered in the modern practice of using hit songs in advertisements, as opposed to jingles or covers.

See how a top Peloton instructor spends her day

Robin Arzón is Peloton's VP of fitness programming and the lead instructor at Peloton. Besides teaching multiple classes a day, she reserves seven hours a week for her own personal training and says she trains like a high-intensity athlete. (Some users may experience a paywall.)

Bill Gates and Paul Allen were childhood friends before founding Microsoft

The two bonded over a teletype terminal at their school, which required a $40 hourly fee for computing time. They were banned from using the device after exploiting a bug that allowed them to bypass the fee, only to be later offered free computing time for finding more bugs.

Colin Kaepernick’s ad with Nike won an Emmy

Colin Kaepernick’s 2018 “Dream Crazy” ad with Nike became a controversial touchpoint for American politics. While many liberals applauded Nike for siding with Kaepernick’s BLM protests, many conservatives boycotted and criticized the company.

'NIL' in college sports refers to 'name, image, and likeness'

In 2021, the NCAA began allowing its student-athletes to profit from using their name, image, and likeness, now often called NIL. While this is now permitted by the NCAA, state law (and school policies) largely dictate what is permitted.

Y Combinator cofounder, Jessica Livingston, once interviewed her husband and cofounder, Paul Graham

Two of Y Combinator's cofounders, Jessica Livingston and Paul Graham, were in a romantic relationship before they started the accelerator. They later married, and much later, Livingston started a podcast. In an episode of her podcast, Livingston and her cohost interview Graham about the beginning of YC and more.

Apple's first backer recruited his own CEO to help manage the company

Wanting Steve Jobs and Steve Wozniak to focus on developing Apple computers, Mike Markkula brought in his colleague from Fairchild Semiconductor, Michael Scott. As employee number five, Scott helped professionalize the fledgling computer company and getting manufacturing off the ground. (Some users may experience a paywall.)

3 out of Palantir's 5 cofounders once served as editor-in-chief of The Stanford Review

After Peter Thiel founded the conservative student newspaper, he remained involved and invested in the paper's success. Other Palantir cofounders, Joe Lonsdale and Stephen Cohen, also both previously served as the paper's editor-in-chief.

Listen to a conversation between two Palantir cofounders—Peter Thiel and Joe Lonsdale

Palantir cofounder Joe Lonsdale was an editor of the Stanford Review (which Peter Thiel founded), and Thiel became a mentor to Lonsdale. The two discussed shared sentiments about the importance of developing Palantir to maintain a largely American global order, as well as cultural revolutions.

Why endowments took off at the turn of the century

After the Civil War, economic growth boosted philanthropy, much of it ending up in universities and colleges. Charles Eliot, the longtime president of Harvard, realized a university’s success was determined by how much money it could hold in the endowment. His approach to endowments radically changed their role in the modern university.