The Shoe Company That Almost Died Three Weeks Before Chinese New Year

Two years ago we recorded an episode on On Running. This week we're re-airing it, and it holds up better than I expected. When we recorded it in 2024, On had just crossed two billion in revenue and was making big promises about margins and innovation. Since then they passed three billion, hit the margins they were targeting, and their LightSpray technology can now build a shoe in about three…