I think one of the reasons is that as others have said - they know their lane and stick to it - sports apparel. Nike doesn't try to take over all your interac

I think one of the reasons is that as others have said - they know their lane and stick to it - sports apparel. Nike doesn't try to take over all your interactions, doesn't try to own your life and doesn't grow beyond its domain. Shit, even within its own domain, it's failed with some projects long-term (Nike Golf clubs come to mind). They stay relevant by signing young upcoming athletes, some of whom go on to become known worldwide in sports that are popular worldwide like Soccer, Basketball, and Tennis. Nike does not have a platform, and in a roundabout way also benefits from their competition doing well (the more people that are active, the larger the potential customer base is). FB/Meta does not have that luxury - to them, if you're not on their platform, you're useless. Nike does not have that problem. Nike wants to own the experience when you're doing something athletic or casually physical (walking around). There's a limit to that as even pro athletes aren't physically active all the time. Since so much of our lives have a technology component to it, Meta wants to own that whole ecosystem , which is much more ambitious than anything Nike ever tried or will try.