The Ben Shapiro Show - October 12, 2026


Nike Lost 81% of Its Value. Here’s What Happened.

Hosted by
Ben Shapiro
Mentioned
Jon Stewart Metallica Catherine Ann Edwards Colin Kaepernick Dylan Mulvaney Tucker Carlson James Hatfield Elliot Hill Soldja Boy. Every Helix Klan
The Vance-vs-Microsoft H1-B Fight, Explained

Episode Stats


Length

9 minutes

Words per minute

183.3

Word count

1,775

Sentence count

176

Harmful content

Misogyny

2

sentences flagged

Toxicity

3

sentences flagged

Hate speech

6

sentences flagged


Transcript

Transcripts from "The Ben Shapiro Show" are sourced from the Knowledge Fight Interactive Search Tool. Explore them interactively here.
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Toxicity classifications generated with s-nlp/roberta_toxicity_classifier .
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
Hosts, guests, and mentioned names generated with spaCy (en_core_web_sm), reconciled against Wikidata.
00:00:00.000 Nike has been getting just its act kicked in the markets.
00:00:02.000 Nike has been getting destroyed.
00:00:04.000 And one of the reasons Nike got destroyed is because so many people who are sort of politically neutral or right wing were like, you know what? I'm not going to buy Nike anymore.
00:00:10.000 They went woke.
00:00:12.000 Well, now the Nike CEO, Elliot Hill, put out a memo to employees saying that they are going to replace sport, quote, at the center of everything we do.
00:00:22.000 We're seeing encouraging signs of progress.
00:00:24.000 We have more work to do to win over the long term.
00:00:26.000 We must get closer to athletes and consumers, make decisions faster, and focus our investments on the areas that create the most value.
00:00:32.000 Now, on October 2nd, Nike's stock price closed at $33.87 a share.
00:00:36.000 That's the lowest in over 12 years.
00:00:38.000 That's an 81% dip since their all time closing high of $177 per share in November 2021.
00:00:46.000 Well, maybe it was the fact they decided to go totally woke.
00:00:48.000 In 2018, you'll remember Colin Kaepernick was the Nike spokesperson.
00:00:56.000 Here it is believe in something, even if it means sacrificing everything.
00:00:58.000 Believe in something, even if it means getting multi million dollar contracts from Nike to pretend to be a social justice warrior.
00:01:03.000 You'll remember Dylan Mulvaney dancing for Nike as a brand ambassador.
00:01:07.000 For Instagram in 2023.
00:01:23.000 But why didn't you buy Nike?
00:01:24.000 Doesn't this make you want to buy Nike? 1.00
00:01:26.000 This demented gay man cosplaying as a woman? 1.00
00:01:28.000 Doesn't this make you want to buy Nike? 1.00
00:01:33.000 Yeah, barefoot in the dirt, dancing around.
00:01:36.000 Yeah, that was good.
00:01:37.000 Or maybe what made you want to buy Nike was the ad in 2025 where women are told that they are put down by men.
00:01:46.000 You can't be emotional, so be emotional.
00:01:49.000 You can't take credit, you can't speak up, you can't be so ambitious, you can't break records.
00:01:53.000 You can't make the pants grow.
00:01:55.000 You can't keep scoring.
00:01:56.000 You can't stand out.
00:01:57.000 Whatever you do, you can't win.
00:02:06.000 So, win.
00:02:14.000 You can't win, so win.
00:02:15.000 That's what men are constantly saying you can't, oh my gosh.
00:02:18.000 Well, I can't imagine why all of this happened.
00:02:20.000 Also, can men play in women's sports or no?
00:02:23.000 Nike, any words on this?
00:02:27.000 Well, Nike, at least they're trying to recenter all of this as well they should.
00:02:31.000 Well, you know, we've been saying for a long time go woke, go broke, and it may take a while, but the reality is that if you burn down, Your brand in pursuit of temporary political glory is not going to go particularly well.
00:02:42.000 Now, there are some economists who are out there claiming on John Stewart's show.
00:02:47.000 And John Stewart, he's one of the things that's hilarious about John Stewart is he's basically just an obnoxious 18 year old in the body of a 65 year old.
00:02:54.000 That's what's funny about John Stewart.
00:02:55.000 And he has the same facial expressions and he has the same sort of mannerisms as a 17 year old or 18 year old, but again, in the body of a man who is approaching Walker age.
00:03:05.000 Anyway, an economist named Catherine Ann Edwards. Says that Democrats are really great at economic growth.
00:03:12.000 Socialism is great for economic growth.
00:03:14.000 Here's how it went.
00:03:16.000 You know, the conservative neoliberal agenda for so long has been we own growth.
00:03:21.000 They don't own growth.
00:03:22.000 They don't own growth.
00:03:23.000 They don't grow the economy faster because they treat people like that's not a better way to grow.
00:03:30.000 That's one way to grow that hurts.
00:03:31.000 We own growth.
00:03:33.000 Growth is on us.
00:03:34.000 When you have labor force participation, that is growth.
00:03:37.000 And that growth can come from treating people like human beings and treating the economy works for us and not.
00:03:43.000 The other way around.
00:03:45.000 Clip it.
00:03:46.000 Clip it right now and send it out over the airwaves.
00:03:50.000 Oh my gosh.
00:03:51.000 So much economizing.
00:03:53.000 So much economics.
00:03:54.000 Wow.
00:03:54.000 Wow.
00:03:56.000 The economy works for us, not the other way around.
00:03:59.000 Again, this is the same Tucker Carlson nonsense on the right, now here on the left, and vice versa.
00:04:03.000 Okay.
00:04:03.000 The reality is that growth happens because of economic freedom, because of free markets.
00:04:08.000 There has never been a system of trade and property ownership that has developed prolonged growth other than free markets.
00:04:17.000 You can look it up.
00:04:18.000 It doesn't work.
00:04:20.000 You can try to put some socialized systems on top of free markets.
00:04:23.000 You can load up that elephant with a bunch of baggage, make it slower.
00:04:27.000 But this idea that somehow free market capitalism is about treating people like crap, I'm sorry, is my individual right to private property getting in the way of your good time?
00:04:36.000 Is that what's happening here?
00:04:39.000 And Jon Stewart, it's just, I will never, ever get over the fact you have obnoxious, very, very wealthy people who have made it in the free market, then bashing the market that allowed them to make it.
00:04:47.000 You want to talk about people who pull up the ladder behind them?
00:04:50.000 These are the people.
00:04:52.000 John Stewart made it, but you can't make it.
00:04:54.000 You can't make it.
00:04:55.000 We need to make sure that there are systematic obstacles in the way of you making it in the name of justice and equity. 1.00
00:05:02.000 And pseudo academics like Catherine Ann Edwards talking about how we must heavily regulate the economy. 0.55
00:05:09.000 Well, we are the ones who make the growth.
00:05:11.000 We are.
00:05:12.000 If you have private property rights, you can.
00:05:14.000 That's called nearly all of human history, and there's no economic growth there.
00:05:14.000 If you don't, guess what?
00:05:18.000 And for the left, it's never about economic growth, it's always about vague sloganeering.
00:05:22.000 Well, you might think.
00:05:25.000 That somebody who believes in free markets should run for president.
00:05:27.000 Unfortunately, I do have a presidential candidate for you, Soldja Boy. 1.00
00:05:33.000 I'll admit that other than Supermaning a hoe, I have no idea who Soldja Boy is. 1.00
00:05:38.000 But I have been told by my staff it is very important I cover the presidential candidacy of Soldja Boy. 1.00
00:05:43.000 Quote, Soldja Boy 2028, a new chapter, a bigger vision, a commitment to creating opportunities for the next generation.
00:05:49.000 My focus is on four things economic opportunity, criminal justice reform, education, and the future of technology and AI.
00:05:56.000 From music to business to technology, I've always believed in thinking bigger and challenging what's possible.
00:06:01.000 Now I'm exploring what it means to bring that same vision to public service.
00:06:04.000 The future starts with a conversation.
00:06:07.000 Okay, I don't know his positions on any of those things.
00:06:08.000 I do know that he is wearing a necklace that is basically the entirety of Fort Knox in this picture.
00:06:17.000 Is he wearing a necklace?
00:06:18.000 It looks like he is wearing a chain that is very, very, very large.
00:06:22.000 That is a lot of bling.
00:06:23.000 It's like, oh, it's a t shirt.
00:06:25.000 Okay.
00:06:25.000 I don't know what he is wearing here.
00:06:27.000 It is a strange uniform for a presidential run.
00:06:30.000 He stole his belt buckle from the Klan over at the Yellowstone Ranch.
00:06:34.000 It's a Louis Vuitton belt, I'm being told by my producers.
00:06:37.000 Again, my producers are very informed on this topic.
00:06:39.000 I'm totally uninformed.
00:06:40.000 I don't know what his t shirt says.
00:06:42.000 We're not close up enough on it.
00:06:44.000 He's wearing a black button up over a t shirt, and he's standing in front of a gigantic American flag, like bizarre rap pattern.
00:06:55.000 And I guess, why not?
00:06:58.000 I guess this is where we are.
00:06:59.000 Sure.
00:07:00.000 All right.
00:07:01.000 My producers are excited about it.
00:07:03.000 Oh, apparently his platform is now available.
00:07:05.000 I'm fascinated.
00:07:06.000 Yeah, but that's not a platform.
00:07:08.000 That's not a platform.
00:07:09.000 Being told by, I just read that.
00:07:10.000 That's not his platform.
00:07:12.000 Okay, if I say my platform is education, what am I saying about education?
00:07:15.000 If I say my platform is the future, what am I saying about the future?
00:07:20.000 My platform is things.
00:07:22.000 That's my platform, just things.
00:07:25.000 He'll probably win.
00:07:27.000 Given the nature of our politics, this is where we're going.
00:07:30.000 All right, soldier boy for president.
00:07:32.000 And then we will, he'll be, when he's president, will he finally be promoted to soldier man?
00:07:38.000 I've told you about this forever.
00:07:38.000 Helix.
00:07:40.000 Now I'm back at home, which means I'm sleeping better.
00:07:41.000 I'm on my Helix sleep mattress.
00:07:41.000 Why?
00:07:43.000 It's a mattress made just for me.
00:07:44.000 How many times have I got to tell you about this?
00:07:45.000 Just go do it already.
00:07:46.000 And they have an amazing offer right now.
00:07:49.000 Their sleep trial used to be 120 nights.
00:07:51.000 So you could try it for like four months.
00:07:54.000 And then if you didn't like it, you can send it back.
00:07:55.000 Now it's a full year.
00:07:56.000 It's 365 nights.
00:07:57.000 That's a full year to sleep on the mattress in your own home and make sure it's actually right for you.
00:08:02.000 Every Helix also ships free in the US, includes a limited lifetime warranty and the Happy with Helix guarantee for those seamless returns and exchanges again.
00:08:09.000 That's a 365 night sleep trial, an entire year, not four months.
00:08:13.000 So that's a long time to figure out whether you like it or not, like a long time.
00:08:16.000 And you're going to like it.
00:08:17.000 That's how confident they are in their own product.
00:08:19.000 The only way that Helix can make that offer is they know you're going to like the mattress, right?
00:08:22.000 Because that's true, because it was made just for you.
00:08:24.000 You take their Helix quiz, they send you a mattress that is customized just for you.
00:08:28.000 Go to helixsleep.comslash Ben for 20% off store wide during Helix's fall sales event.
00:08:28.000 Check them out right now.
00:08:34.000 That's helixsleep.comslash Ben.
00:08:35.000 Get 20% off store wide.
00:08:37.000 Helixsleep.comslash Ben.
00:08:40.000 Have to say, hat tip to Metallica's James Hetfield, who did a show over the weekend at the Las Vegas Fear.
00:08:46.000 And he said, Listen, I'm not here to preach politics to you because you know what I do is play music.
00:08:50.000 Money you spent, the time it took.
00:08:53.000 Thanks for coming to celebrate with us.
00:08:55.000 And I just got to say, Metallica's not here like some other entertainers to influence you with their.
00:09:09.000 Okay?
00:09:09.000 We are here.
00:09:14.000 We're here to forget about all the outside.
00:09:21.000 Metallica's agenda is love, energy, and heavy music, baby!
00:09:21.000 Okay?
00:09:34.000 You are much better off doing this as an artist or as a brand than doing the opposite.
00:09:37.000 Alrighty, folks, we've reached the end of today's show.
00:09:39.000 We'll be back here tomorrow with much more.
00:09:40.000 I'm Ben Spiro.
00:09:41.000 This is the Ben Spiro Show.