You're Just In It To Make Money!

My favorite line of criticism around my new business endeavor XX-XY Athletics is You’re just in it to make money!

You got me! What a shrewd insight that businesses, including mine, are in it to make money. And that I, in fact, need money to live, feed my kids and pay for college. As do those few people that I employ.

Until this very moment, I didn’t realize Nike and Lululemon were non-profits! And that their employees work for no pay!

Oh wait, the Lululemon CEO Calvin McDonald made ~$16 million in 2022. And his salary continues to rise as the business continues to grow.

But Nike, they are definitely in it to just do good and give all their money away to causes supporting aspiring athletes, as my critics seem to believe. Right? Well, after the CEO John Donahoe collects his $33 million per year that is.

Still, I’m sure Nike isn’t looking to grow their business, grow their profits or increase their stock price so that employees and shareholders make money off of the success of the business. They just want to celebrate athletes!

Nike’s Gross Profits 2014-2022 (in million US $)

Nike's gross profit worldwide from 2014 to 2023 (in million U.S. dollars)

My critics are right, in a sense. Yes. I intend to build a growing and profitable business. I intend to hire as many highly skilled and passionate people as I can employ and pay them well. I intend to give them each an opportunity to build a career, take care of their families, and — hopefully, if the business takes off — personally share in the financial success of XX-XY Athletics.

We’re a long way from that. We aren’t even two weeks old. And no one is making piles of money. In fact, everyone is making less than they could elsewhere in more established businesses. Because they want to build this thing too.

I intend to pursue excellence in product, in marketing and brand building, in financial discipline and operational rigor.

I also intend to build a brand that I believe in, that can — and hopefully will — give voice to millions of women and girls who are being told to shut up, sit down, and not stand up for themselves, and just deal with any unfairness because, you know, inclusion.

I intend to normalize saying out loud that women and girls deserve fairness, privacy and safety. And it isn’t bigoted to say so. It is compassionate to stand up for women and girls and the educational and developmental opportunities that sports provide.

I intend to build an outstanding brand and business. These two things aren’t mutually exclusive.

People might try spending a bit more time questioning the motives of other brands that claim to champion women but, in reality, treat them like garbage. Yes, like Nike. Time and time again.

Some are lobbing criticisms that I’ve said we need to get back to Normie Capitalism and that this brand is anything but. What’s Normie Capitalism? Well I said it to Forbes.com contributor Pam Danzinger. And also in my book, Levi’s Unbuttoned. But here’s a good summary from Danzinger in The Robin Report:

Sounds pretty much like what I’m doing.

Yeah but too political, some say. Believing in truth isn’t political. It’s pretty neutral and non-ideological in fact. And the fact that there are two sexes and that they are different from each other is . . . well, a fact. Not a political statement.

I’m listening to the consumer and being inclusive and broadly appealing in our messaging. 80% of Americans agree that girls and women’s sports must be protected.

Most importantly, we’re making outstanding product. High quality, long lasting, soft and comfortable and ethically sourced.

We’re not here to make disposable fast fashion, that is designed to be worn once, thrown away and is loaded up with chemicals.

And the feedback so far has been fantastic!

The brand is almost two weeks old. And though I’ve been called a grifter — again! — I’m being pretty darned forthright.

Here’s the thing:

I was right in 2008 when I wrote about the abusive training culture in gymnastics. And I was called a grifting, angry bitter ex-gymnast just trying to make a buck.

I was right in 2020 when I said closed public schools during covid would be a generational catastrophe. And I was called a grifting bigot, in it for the likes, murdering racist psychopath.

And I’m right now, in 2024, when I start this brand with the goals of normalizing standing up for female athletes AND becoming a growing and profitable business. And I’m being called a grifting, bigot in it for the money and likes.

Meh — doesn’t phase me anymore. Give it a few years. They’ll come around.