What started as an homage to Kobe Bryant, became an homage to life. The typesetting is designed to look both like a basketball net, and a heart. Kobe wore the number 24 in the second half of his career, and there are 24 hours in a day.
The original design was a gold shortsleeve shirt with purple embroidery, second was the black with the red. Gold and Purple for the Lakers, Red to symbolize the love that we so often neglect to express until it's too late.