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Peloton Confidentially Files Statement for Proposed IPO

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Re: Peloton Confidentially Files Statement for Proposed IPO

#21
Would highly suggest listening to the "How I built This" podcast[1] with the peleton founder John Foley, really great story with usual tech themes like doing things that don't scale and finding a niche but loyal customer base and expanding organically.

[1] https://play.google.com/music/m/Dmjr6m5i4h3j6gaysgjd47ryhci?...

Re: Peloton Confidentially Files Statement for Proposed IPO

#22
post #8

A friend of mine got a Peloton, and I as a good friend razzed him about it a couple times. Like a $2k stationary bike, come on! But now I get it. He is a busy professional who would not always have time to go to the gym. He is also a bit of a special case as he legally blind and could walk fast to exercise but could never ride a regular bike. This being said he has lost a decent amount of weight. Part of it is the in…

$2k isn't absurt for an exercise bike once you think about it. These are the same people who buy a $10,000 bike for recreational riding, remember. You are dead on with the point about the instructors. My wife hated biking but they have Pelotons in her work gym, and she loves them, and talks about the instructors like they are real people. People are fitness crazy right now. Crossfit gyms are $100-200 a month, Rogue h…

The instructors aren't real people?

Re: Peloton Confidentially Files Statement for Proposed IPO

#23
post #8

A friend of mine got a Peloton, and I as a good friend razzed him about it a couple times. Like a $2k stationary bike, come on! But now I get it. He is a busy professional who would not always have time to go to the gym. He is also a bit of a special case as he legally blind and could walk fast to exercise but could never ride a regular bike. This being said he has lost a decent amount of weight. Part of it is the in…

$2k isn't absurt for an exercise bike once you think about it. These are the same people who buy a $10,000 bike for recreational riding, remember. You are dead on with the point about the instructors. My wife hated biking but they have Pelotons in her work gym, and she loves them, and talks about the instructors like they are real people. People are fitness crazy right now. Crossfit gyms are $100-200 a month, Rogue h…

talks about the instructors like they are real people

That’s because they are real people! Working people who are doing a job, not actual friends of course. But still: real living, breathing, actual human beings.

Although I do wonder if buried somewhere in the business plan is the expectation of replacing them with AI-equivalents that don’t cost as much & don’t require pesky things like holidays or sick pay.

Re: Peloton Confidentially Files Statement for Proposed IPO

#24

They've executed so we'll on selling a $2000 exercise bike that locks you into their subscription content. Anyone who has bought one can comment on what the alternatives we're when you purchased? The way they position the financing makes it feel like a monthly membership fee to a gym or something.

I did not buy a bike, but for a while I used the app on a spin bike at the gym. I can attest to the experience being pretty great.

I wound up recording a dozen or so of the workouts so I can watch them on my phone without a subscription. The bells and whistles of heart rate and pace are meaningless to me.

Re: Peloton Confidentially Files Statement for Proposed IPO

#25

Earlier quoted context omitted.

$2k isn't absurt for an exercise bike once you think about it. These are the same people who buy a $10,000 bike for recreational riding, remember. You are dead on with the point about the instructors. My wife hated biking but they have Pelotons in her work gym, and she loves them, and talks about the instructors like they are real people. People are fitness crazy right now. Crossfit gyms are $100-200 a month, Rogue h…

The instructors aren't real people?

I get what he means. You feel like they are people you know, not just instructors on a screen thousands of miles away.

Re: Peloton Confidentially Files Statement for Proposed IPO

#26
post #6

Earlier quoted context omitted.

My sides. I have friends working there that have tried getting me to apply. Glassdoor reviews indicated their backend interview is unnecessarily difficult and I have little faith in their business model. How many people are willing to spend thousands on an exercise bike? Let alone one that requires a $40/month subscription? It feels the same as Blue Apron - the market is people rich and lazy enough that don't want do…

People pay for gym memberships that they never use. They also buy home exercise equipment that collects dust for most of its life. Then you have active cyclists that will splurge $5K+ on a real bike and want a way to ride when the weather makes it troublesome. There is a market.

There is a definite market, but like gym memberships it is likely to contract during downturns. The folks I know with Pelotons are cycle infrequently and have a more general regime. As a cyclist I'd be interested to know how many get a Peloton versus sticking with traditional trainers?

Ignoring the all-weather cyclists it'd also be interesting to know how many ride into the shoulders of the season. Most of the folks I ride with have $5000 bikes and they may ride from March to November here in Philly depending on really bad conditions.

Re: Peloton Confidentially Files Statement for Proposed IPO

#27
post #6

When I see Peloton now, I always think of this twitter thread that critiques their adverts https://twitter.com/clueheywood/status/1089699762331217920

My sides. I have friends working there that have tried getting me to apply. Glassdoor reviews indicated their backend interview is unnecessarily difficult and I have little faith in their business model. How many people are willing to spend thousands on an exercise bike? Let alone one that requires a $40/month subscription? It feels the same as Blue Apron - the market is people rich and lazy enough that don't want do…

> How many people are willing to spend thousands on an exercise bike?

A lot, myself included. My wife and I gave it to each other for Christmas one year, right before our daughter was born.

At the time when we were new parents, it was perfect. We could exercise quietly without waking either the baby or each other, all without leaving the house.

Now that our daughter is older, we still use it albeit more infrequently in the summer when we both like to go out and run. However, the digital classes offered in the app are great for running & training. For me personally, it was easy to get stuck in a rut of just plodding along and not really improving my fitness. Having the coaches in your ear telling you what to do works well for me.

Re: Peloton Confidentially Files Statement for Proposed IPO

#28

Incredible marketing from Peloton and they builds on the Spinning/Indoor cycling trend that SoulCycle and FlyWheel started. But I can't help but think a lot of people would be better off with a real bike, a smart turbo trainer and an iPad to access a variety of training programs (i.e. Zwift TrainerRoad). Less lock in, the ability to ride outside, and all possible for a similar price to Peloton bike. As a cyclist I've…

As a shut in and professional hobbyist, this is far more valuable if it is engaging enough to get me to use it. I don't want to go get all sweaty and dirty riding a bike outside, and I'm clumsy so I would be terrified of seriously injuring myself (also I live in the middle of a city). This bike works in my climate controlled house, I can make it work with my schedule regardless of the weather, and the ease and availability makes it easier to work out every day without cutting into the few precious hours I get to devote to creative work each day.

Re: Peloton Confidentially Files Statement for Proposed IPO

#29
post #6

Earlier quoted context omitted.

My sides. I have friends working there that have tried getting me to apply. Glassdoor reviews indicated their backend interview is unnecessarily difficult and I have little faith in their business model. How many people are willing to spend thousands on an exercise bike? Let alone one that requires a $40/month subscription? It feels the same as Blue Apron - the market is people rich and lazy enough that don't want do…

People pay for gym memberships that they never use. They also buy home exercise equipment that collects dust for most of its life. Then you have active cyclists that will splurge $5K+ on a real bike and want a way to ride when the weather makes it troublesome. There is a market.

You could not go to a gym for 3 years and your membership fees would still cost you less than the $2000 bike, let alone the monthly subscription.

Re: Peloton Confidentially Files Statement for Proposed IPO

#30

Incredible marketing from Peloton and they builds on the Spinning/Indoor cycling trend that SoulCycle and FlyWheel started. But I can't help but think a lot of people would be better off with a real bike, a smart turbo trainer and an iPad to access a variety of training programs (i.e. Zwift TrainerRoad). Less lock in, the ability to ride outside, and all possible for a similar price to Peloton bike. As a cyclist I've…

Agree regarding preferring Zwift and a turbo but the sort of setup you describe seems to appeal to cyclists whereas the Peloton seems to appeal to the spin class crowd, many of who would never consider riding outside. The market is weirdly bifurcated between the two without a ton of overlap.
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