Nike

12824.614 - 12847.581 Ben Gilbert

But it runs quite differently than their apparel business, which has like thousands of manufacturers that they work with, which are all custom for all the different fabrics and stuff that they need to make. And so in some ways, it's like the fabless semiconductor industry. But unlike semiconductors, the manufacturing isn't as CapEx intensive to start, and there's not as much process power in it.