Issue 56 - Adaptation

Welcome to Issue 56 of Deep Life Reflections, where I share five things I’ve been enjoying and thinking about over the past week.

In this week’s issue, we explore the essence of entrepreneurship with Phil Knight’s journey to Nike’s creation in Shoe Dog, revisit the meteoric rise and fall of the world’s first smartphone in the film BlackBerry, and contemplate the attributes that help secure a company’s place in history.

Join me as we explore this week’s Friday Five.

1. What I’m Reading

Shoe Dog: A Memoir by the Creator of Nike. By Phil Knight.

Shoe Dog is a memoir by Phil Knight, the co-founder of Nike. It recounts his journey from a college project in 1962 to creating Nike, one of the world’s most iconic brands. Like many, you’ve likely owned a Nike product—few brands can say that.

Knight is a candid and introspective guide, sharing his travels around the world, the founding of Blue Ribbon Sports (Nike’s original name), and the many hurdles faced along the way, including financial struggles, legal battles, and personal challenges. It’s also a story of perseverance, vision, and the power of building a team.

Shoe Dog is packed with stories revealing the inner-workings and iconic innovations of Nike. Highlights include the creation of the “waffle” shoe sole design, inspired by a waffle iron; the origin of Nike’s famous slogan “Just Do It,” taken from the last words of death-row inmate Gary Gilmore; and the design of the now-iconic Nike swoosh—one of the most recognisable symbols in the world—created for just $35 by graphic design student Carolyn Davidson (who years later was given a gold ring and shares in the company).        

One of the book’s most interesting anecdotes is Knight’s 1962 trip to Japan, fresh out of business school, with the idea of importing Japanese athletic shoes to the Western market. This led to his partnership with Onitsuka Tiger (now known as ASICS)—told in vivid, entertaining detail. When an initially unimpressed Japanese executive asked Knight which company he represented, he had no name ready. Thinking quickly and recalling the blue ribbons he won in races during his youth, he improvised on the spot, saying, “Gentlemen, I represent Blue Ribbon Sports of Portland, Oregon.”

Knight was quick on his feet and also had an innate ability to see potential in a foreign market and the crucial role of strategic alliances. This venture laid the groundwork for what would eventually become Nike—a name Knight didn’t love, but went with as it was short, sweet, and had some memorable letters in it.  

Shoe Dog is a reminder of what the path to business success really looks like—a journey fraught with risks, doubts, and setbacks. Yet, it also celebrates the building of something from nothing, holding on to a deeply rooted mission, and ultimately, leaving a lasting mark on the world.  

2. What I’m Watching

Blackberry. Directed by Matt Johnson.

“Why would anyone want a phone without a keyboard.” – Mike Lazaridis, Co-Founder of BlackBerry.

Like Nike, if you’re of a certain age and held any kind of knowledge worker role, it’s likely you’ve also owned a BlackBerry—I had several. At their height, BlackBerry held 45% of the mobile phone market—one out of every two phones being sold was a BlackBerry, an incredibly dominant position. Then in 2007, Steve Jobs held aloft the iPhone, and in one swift keystroke, he sealed the fate of the BlackBerry. Today, BlackBerry holds 0% of the mobile phone market.

The 2023 film, Blackberry, tells the story of the meteoric rise and fall of the world’s first smartphone. It’s a moving story about friendship, pride, and the brutality of the free market—a market that eats people like Mike Lazaridis alive. Lazaridis and his childhood friend Doug Fregin had started their company Research in Motion (RIM) in 1984, a company that would later become BlackBerry.

Mike and Doug are seriously smart yet socially awkward, ill-suited for the cut-throat negotiations that Corporate America demands. We see this in the first scene as Mike nervously introduces the name of their groundbreaking phone, the ‘Pocket Link,’ reflecting their tech-geek focus over market savvy. Enter Jim Balsillie as Co-CEO alongside Lazaridis. Balsillie’s aggressive sales tactics and winner-takes-all mentality are the shot in the arm the company needs. This creates a classic double-act, with Lazaridis and Balsillie making entrepreneurial magic as sales rocket and a global icon is born. It’s all hugely entertaining, backed by great performances and a brilliant soundtrack.  

Blackberry is an ode to the outcasts and visionaries. Through the story of Lazaridis and Fregin, we witness the geeks inheriting the earth, recognising long before anyone else the huge potential of converging technologies into a single device. The BlackBerry 5810, launched in 2002, marked the dawn of the smartphone era, setting a standard that challenged the norms of mobile communication. But the pace of innovation can be unforgiving. When Steve Jobs unveiled the iPhone five years later, the tech landscape shifted irreversibly. BlackBerry had no comeback. They were out of battery.

3. What I’m Contemplating

The stories of Nike and BlackBerry represent two contrasting examples of the unpredictability of entrepreneurship—today, one is a global brand, the other a footnote. We may ask what gives a company longevity—is it serendipity or strategy that secures a company’s place in history?

While luck and timing are undeniable factors, the core elements within an organisation’s control—innovation, market adaptability, leadership, corporate culture, and financial management—are critical. However, even these aren’t a guarantee.

Consider the S&P 500: a stock market index that tracks 500 prominent corporations listed on the New York Stock Exchange. Since its inception in 1957, only 69 corporations (14%) are still listed in the index today. This highlights the dynamic nature of business and how companies evolve, merge, or get replaced over time.  

Seth Godin, an author and entrepreneur, argues that successful companies engage in a continuous loop of creating awareness and then harnessing tension—like pulling back a rubber band. Awareness alone isn’t enough; companies must create action. The more critical question Godin asks is: Why would an individual—who becomes aware and then takes action—tell others about the company?

Creating a story that not only sparks individual tension but creates powerful word-of-mouth is the backbone of enduring brands. Nike and BlackBerry mastered this loop, dominating their markets until unprecedented disruptors emerged (for BlackBerry).

The lesson is clear: In business, as in nature, adaptation is survival. It’s not just about leading the race but also about maintaining the pace as the track and runners evolve. In this race, there’s no finish line, only a disqualification.  

4. A Quote to note

“The best way to predict the future is to create it.”

- Peter Drucker

5. A Question for you

If you were to start a company tomorrow, what problem would you aim to solve, and why?

Thanks for reading and being part of the Deep Life Journey community. Have a great weekend.

James

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