The Phone Call That Changed The World | Air | Prime Video
Summary
TLDRIn this intense dialogue, the topic of Michael Jordan's compensation for his namesake Nike shoes is debated. The speaker argues that while Nike benefits from marketing his likeness, Michael should receive a percentage of the sales due to his exceptional talent and impact on the brand. The conversation highlights the struggle between the value of individual performance and the traditional business model of investment and reward, suggesting a potential shift in how exceptional athletes are compensated.
Takeaways
- 🤝 The discussion revolves around the business model of Nike and the potential revenue share for Michael, presumably a high-profile athlete, from the sale of shoes bearing his name.
- 📊 There is a misunderstanding about the revenue sharing; Michael does not participate in the gross sales of the shoes, which is contrary to the assumption made in the conversation.
- 💼 Nike, as a public company, has a set business model that does not allow for individual participation in gross sales, which would disrupt the industry.
- 🏀 Michael's performance and achievements, such as scoring 40 points a night or winning MVPs, are crucial for his marketability and the value of his endorsement.
- 👟 The significance of the shoes is tied to Michael's personal brand and his ability to create meaning and demand for the product.
- 🚀 The expectation is that Michael will not only excel in his career but also bring exceptional value that could potentially change the business model.
- 💰 The current offer from Nike is considered the biggest deal the company has ever offered, but it is met with resistance as it may not reflect Michael's worth.
- 🤔 There is a debate about the fairness of the compensation model, with the argument that extraordinary individuals should be compensated according to their exceptional value.
- 🔄 The speaker suggests that the traditional business model may need to change to accommodate the unique value that certain individuals bring to the table.
- 🚫 There is a warning that if the current business model does not adapt, Michael's influence could shift the balance of promotion, with him promoting the NBA rather than the other way around.
- 🏆 The speaker asserts that Michael's mother understands his worth and is advocating for a fair deal that reflects his potential and market impact.
Q & A
What is the main topic of discussion in the transcript?
-The main topic of discussion is the business model and compensation structure for Michael Jordan's endorsement deal with Nike, specifically regarding the revenue from the sale of Nike shoes with his name on them.
What is the misconception about how Nike's business works according to the transcript?
-The misconception is that Michael Jordan would receive a percentage of the gross sales from the Nike shoes with his name, which is not the case as Nike operates on a licensing fee model.
What does the speaker argue is Michael Jordan's main concern in this business deal?
-Michael Jordan's main concern is creating meaning and value for the shoes that bear his name, as it is his performance and reputation that can drive sales.
What is the speaker's view on the importance of Michael Jordan's performance to Nike's marketing?
-The speaker believes that Michael Jordan's exceptional performance, such as scoring 40 points a night, being Rookie of the Year, and making All-Star and All-NBA teams, is crucial for Nike's marketing and thus should be compensated accordingly.
What does the speaker suggest as a fair compensation for Michael Jordan's contribution to Nike's sales?
-The speaker suggests that Michael Jordan should receive a piece of the revenue from the sale of the shoes and all future Air Jordan shoes, as his name and performance add significant value to the product.
What is the speaker's argument against the current business model used by Nike?
-The speaker argues that the current business model is unfair to individuals like Michael Jordan, who bring exceptional value to the company, and that it may need to change to reflect the worth of such individuals.
What is the potential consequence if Michael Jordan does not get the compensation he believes he deserves?
-The potential consequence is that Michael Jordan may not be promoted by the NBA, and instead, he could end up promoting the NBA, which would be a significant shift in the dynamics of their relationship.
What does the speaker imply about the rarity and value of individuals like Michael Jordan?
-The speaker implies that individuals like Michael Jordan are extraordinarily rare and valuable, and they have the right to demand compensation that reflects their worth.
What is the speaker's belief about the relationship between Michael Jordan's self-belief and his mother's understanding of his worth?
-The speaker believes that Michael Jordan's self-belief and his mother's understanding of his worth are significant factors in negotiating a good deal and recognizing his value.
What is the speaker's final offer to Michael Jordan in the transcript?
-The speaker's final offer is $250,000 and a Mercedes-Benz, which they argue will be forgotten in a year, but emphasizes the importance of getting a piece of the revenue from the shoes.
What does the speaker suggest about the impact of Michael Jordan on the perception of the shoes?
-The speaker suggests that a shoe is just a shoe until Michael Jordan steps into it, implying that his involvement transforms the product into something more valuable.
Outlines
💼 Business Model Discussion
The paragraph discusses the business dynamics of endorsement deals, specifically focusing on Michael Jordan's potential agreement with Nike. It highlights the misunderstanding about revenue sharing from shoe sales and clarifies that Nike, as a public company, operates on a licensing model rather than direct sales participation. The conversation emphasizes the importance of Michael Jordan's personal brand in driving sales and the need for him to perform exceptionally well to increase his marketability and the value of his endorsement.
Mindmap
Keywords
💡Revenue
💡Licensing Fee
💡Public Company
💡Economics
💡Endorsement
💡Likeness
💡Rookie of the Year
💡All-Star
💡Defensive Player of the Year
💡Championships
💡Compensation
Highlights
Michael will receive a percentage of the revenue from the sale of Nike shoes with his name on them.
The business model does not involve Michael participating in the gross sales of the shoe.
Nike, as a public company, cannot disrupt the industry with direct sales participation.
The economic model around licensing fees is complex and not directly tied to sales.
Michael's concern is creating meaning and value in the shoes for young consumers.
His name on the shoe is seen as a marketing benefit by Nike.
Performance milestones like scoring 40 points a night and winning championships are crucial for marketing value.
The discussion highlights the disparity between exceptional talent and standard business practices.
The negotiation emphasizes the need for a fair compensation model that reflects Michael's worth.
The potential for Michael to change the NBA's promotional dynamics by leveraging his personal brand.
The argument that extraordinary individuals should be compensated according to their exceptional value.
The idea that wealth should be shared with those who bring extraordinary value to a business.
The transcript suggests a potential shift in the traditional business model due to Michael's influence.
The importance of recognizing and rewarding exceptional talent in professional sports.
The negotiation for a piece of the revenue from the shoe sales as a fair compensation.
The significance of the Air Jordan shoe brand and its potential impact on the industry.
The debate over the value of a single shoe versus the value added by Michael's presence.
The closing argument for a fair deal that acknowledges Michael's unique contribution to the brand.
Transcripts
Michael will get a percentage of the
revenue the sale of each shoe that is
sold
I'm sorry
Nike shoes just the ones with this name
on them
oh uh Mrs Jordan so that's not how
the business works at all I mean I I
understand the assumption
licensing fee in this case obviously a
groundbreaking fee but they don't
actually participate in the gross sales
of the shoe I mean because Nike's a
public company so that they can't that
would disrupt the industry and if they
wouldn't they um there's a whole other
set of Economics around this it's very
complicated yeah I'm sure it's quite
complicated but
quickly what's going to come in every
year well that's not his concern
um okay his concern
is that in order for the shoe to be
in order for young people many not have
real means to want to go out and spend
the money that they've worked all week
two weeks at the mall for then Michael
has to create the meaning in that shoe
his name is on that Shield yeah so
actually we think that's a benefit to
him because his likeness gets marketed
by Nike no
no is not in any way meaningful to Nike
unless he scores 40 points a night every
night pizza king is Rookie of the Year
makes All-Star and all NBA team
okay that would be exceptional and and
um you know it is the NBA so these are
the best of the best well he has to be
better he will win championships
multiple championships final MVPs I know
my son All-Star selection All-Star MVP
defensive player of the year but man
with respect Sydney Moncrief is the
defensive player of the year Adrian
Dantley won the scoring title they're
not you don't get to be magic and
Michael Cooper it's basketball but if he
does it he deserves to be compensated
you eat we eat that's all he's asking
that's a fair point but that's just not
how
business works I mean they they invest
the capital and they get the reward and
that's how it goes well maybe that needs
to change
he does what I think he's going to do
what you also think he's going to do and
what Michael knows he's going to do then
it won't be the NBA promoting my son I
promise you it'll be the other way
around and in that case he deserves a
piece
this is Jordan I
I understand what you're saying I
I actually agree with you
but that's just not how it goes
with gold people like your son
people who work for a living they don't
let us all
take the best we can get
and this is a great deal this is the
biggest deal this company has ever
offered anyone by far
Michael could blow out his knee next
week
oh I agree
since it's unfair
it's unfair to my son it's unfair to
people like you
it once in a while
someone comes along that's so
extraordinary that it forces those
reluctant to part with some of that
wealth to do so not out of charity
but out of greed because they are so
very special
and even more rare
that person demands to be treated
according to their worth because they
understand what they are worth
or their mother does
to know a good deal about my son
you tell me
is it me who believes in Michael his
name
or am I just a healthy reflection of who
he is and what he believes about himself
hmm
isn't that why you came to my home
yes it is
I'm gonna put it to you plain once again
we'll get 250 000 and a Mercedes-Benz
that will be forgotten in a year but he
gets a piece
of the revenue of the shoe and all
future Air Jordan shoes
a shoe is just a shoe
until my son steps into it
[Music]
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