Peloton hires McKinsey to review cost structure; cycle maker may cut jobs, close stores
If you need to hire McKinsey, it's a downhill ride from there.
The two devils - McKinsey and BCG.
Love it.
Peloton was destined to fail from the start. They basically just repackaged a spin bike with some bells and whistles, without innovating or presenting anything new or significantly patent-able. Any halfway savvy consumer can forgo the $2k price tag and set up a budget spin bike with virtual classes at home for much less money. Add to that the fact that there's too much better competition on the market, with superior indoor bikes on the market and other virtually interactive programs like Zwift, iFit, etc. Peloton is marketing gimmick for suckers.
Generic soda is just as good as Coca Cola, yet…
Peloton isn't selling you bikes, not really. The bike is just the vehicle for their a tual product, the subscription.
"Peloton to halt production of its Bikes, treadmills as demand wanes"
english breakfast sipper wrote:
Peloton was destined to fail from the start. They basically just repackaged a spin bike with some bells and whistles, without innovating or presenting anything new or significantly patent-able. Any halfway savvy consumer can forgo the $2k price tag and set up a budget spin bike with virtual classes at home for much less money. Add to that the fact that there's too much better competition on the market, with superior indoor bikes on the market and other virtually interactive programs like Zwift, iFit, etc. Peloton is marketing gimmick for suckers.
The peloton product is really, really nice. The hardware works. The classes are fun and engaging for the vast majority of people.
The fact is, hardcore endurance athletes are not their target audience and I've met countless people who LOVE peloton workouts. 99% of people don't want to fiddle with their homebrew fitness bike setup for 15 minutes before every class -- especially people who only set aside 30-45 minutes to work out.
Maybe the argument is the product isn't worth 2k + $40 a month but nobody who has used a Peloton would call it a 'gimmick.'
Of course, working out outside is ~free, but the gigantic market for home exercise and fitness classes tells us that most people don't want to do that...
Harambe wrote:
english breakfast sipper wrote:
Peloton was destined to fail from the start. They basically just repackaged a spin bike with some bells and whistles, without innovating or presenting anything new or significantly patent-able. Any halfway savvy consumer can forgo the $2k price tag and set up a budget spin bike with virtual classes at home for much less money. Add to that the fact that there's too much better competition on the market, with superior indoor bikes on the market and other virtually interactive programs like Zwift, iFit, etc. Peloton is marketing gimmick for suckers.
The peloton product is really, really nice. The hardware works. The classes are fun and engaging for the vast majority of people.
The fact is, hardcore endurance athletes are not their target audience and I've met countless people who LOVE peloton workouts. 99% of people don't want to fiddle with their homebrew fitness bike setup for 15 minutes before every class -- especially people who only set aside 30-45 minutes to work out.
Maybe the argument is the product isn't worth 2k + $40 a month but nobody who has used a Peloton would call it a 'gimmick.'
Of course, working out outside is ~free, but the gigantic market for home exercise and fitness classes tells us that most people don't want to do that...
Yet here we are Harambe. Objective data contradicts the picture you paint.
highhoppingworm wrote:
Harambe wrote:
The peloton product is really, really nice. The hardware works. The classes are fun and engaging for the vast majority of people.
The fact is, hardcore endurance athletes are not their target audience and I've met countless people who LOVE peloton workouts. 99% of people don't want to fiddle with their homebrew fitness bike setup for 15 minutes before every class -- especially people who only set aside 30-45 minutes to work out.
Maybe the argument is the product isn't worth 2k + $40 a month but nobody who has used a Peloton would call it a 'gimmick.'
Of course, working out outside is ~free, but the gigantic market for home exercise and fitness classes tells us that most people don't want to do that...
Yet here we are Harambe. Objective data contradicts the picture you paint.
Sadly having a good product doesn't mean you make money! I'm not claiming they have competent executives or good corporate strategy but there's no doubt they make a nice exercise bike and good programming to go with it.
Business is damn hard. Making a profit is damn hard. Sustaining it is even harder.
God bless those that actually become successful. The pioneers and entrepreneurs deserve the big payouts for the big risks and hard work.
Harambe wrote:
english breakfast sipper wrote:
Peloton was destined to fail from the start. They basically just repackaged a spin bike with some bells and whistles, without innovating or presenting anything new or significantly patent-able. Any halfway savvy consumer can forgo the $2k price tag and set up a budget spin bike with virtual classes at home for much less money. Add to that the fact that there's too much better competition on the market, with superior indoor bikes on the market and other virtually interactive programs like Zwift, iFit, etc. Peloton is marketing gimmick for suckers.
The peloton product is really, really nice. The hardware works. The classes are fun and engaging for the vast majority of people.
The fact is, hardcore endurance athletes are not their target audience and I've met countless people who LOVE peloton workouts. 99% of people don't want to fiddle with their homebrew fitness bike setup for 15 minutes before every class -- especially people who only set aside 30-45 minutes to work out.
Maybe the argument is the product isn't worth 2k + $40 a month but nobody who has used a Peloton would call it a 'gimmick.'
Of course, working out outside is ~free, but the gigantic market for home exercise and fitness classes tells us that most people don't want to do that...
That's a really good post. You are normally an idiot.
Charles Bukowski wrote:
Harambe wrote:
The peloton product is really, really nice. The hardware works. The classes are fun and engaging for the vast majority of people.
The fact is, hardcore endurance athletes are not their target audience and I've met countless people who LOVE peloton workouts. 99% of people don't want to fiddle with their homebrew fitness bike setup for 15 minutes before every class -- especially people who only set aside 30-45 minutes to work out.
Maybe the argument is the product isn't worth 2k + $40 a month but nobody who has used a Peloton would call it a 'gimmick.'
Of course, working out outside is ~free, but the gigantic market for home exercise and fitness classes tells us that most people don't want to do that...
That's a really good post. You are normally an idiot.
Reverse Gell-Mann amnesia, perhaps? :-)
Harambe wrote:
The peloton product is really, really nice. The hardware works. The classes are fun and engaging for the vast majority of people.
The fact is, hardcore endurance athletes are not their target audience and I've met countless people who LOVE peloton workouts. 99% of people don't want to fiddle with their homebrew fitness bike setup for 15 minutes before every class -- especially people who only set aside 30-45 minutes to work out.
Maybe the argument is the product isn't worth 2k + $40 a month but nobody who has used a Peloton would call it a 'gimmick.'
Of course, working out outside is ~free, but the gigantic market for home exercise and fitness classes tells us that most people don't want to do that...
You could say pretty much the same stuff about Nordic Track. And I don't think they were ever a $50B company. Peloton is just another home-workout fad -- in a decades-long series of fads -- that happened to make its executives half a billion dollars. Snake oil.
Charles Bukowski wrote:
Business is damn hard. Making a profit is damn hard. Sustaining it is even harder.
God bless those that actually become successful. The pioneers and entrepreneurs deserve the big payouts for the big risks and hard work.
I guess I don't understand this line of thinking. If the entrepreneur fails, the investors are the ones who lose money, and the entrepreneur often is compensated quite well before the other shoe drops. And then the entrepreneur goes on and tries again, building sandcastles financed by other rich people. When they end up striking it truly rich, I have a hard time being like "kudos, you really risked everything and you deserve every penny of your outsized compensation".
I’ve yet to talk to anyone who uses Peloton who isn’t extremely positive about it. Their users generally love it.
I don’t care enough to try and find their data, but I’d be more interested in how loyal their customers are than new equipment sales. It isn’t shocking that anyone who was thinking about signing up during the pandemic, already did.
I've used one their treadmills and it was high quality. The workout was pretty cool, but honestly I can do all that without some video screen or virtual teammates. Just not for me.
I know there was a lot of speculation that they'd be purchased by Apple, looks like that won't happen.
always thought PTON was such a fkking joke. A way to steal money from rich white women. Everyone that I know w/ a PTON is an upper class white woman who works in business/finance.
Love seeing the stock absolutely decimated today.
Afghani couch wrote:
always thought PTON was such a fkking joke. A way to steal money from rich white women. Everyone that I know w/ a PTON is an upper class white woman who works in business/finance.
Love seeing the stock absolutely decimated today.
People LOVE to purchase exercise equipment and pay for gym memberships. It's all the same for the people who sell the stuff. It's not that peloton did anything new in objectiv terms, they just found a new way to get people to "invest in themselves".
Harambe wrote:
english breakfast sipper wrote:
Peloton was destined to fail from the start. They basically just repackaged a spin bike with some bells and whistles, without innovating or presenting anything new or significantly patent-able. Any halfway savvy consumer can forgo the $2k price tag and set up a budget spin bike with virtual classes at home for much less money. Add to that the fact that there's too much better competition on the market, with superior indoor bikes on the market and other virtually interactive programs like Zwift, iFit, etc. Peloton is marketing gimmick for suckers.
The peloton product is really, really nice. The hardware works. The classes are fun and engaging for the vast majority of people.
The fact is, hardcore endurance athletes are not their target audience and I've met countless people who LOVE peloton workouts. 99% of people don't want to fiddle with their homebrew fitness bike setup for 15 minutes before every class -- especially people who only set aside 30-45 minutes to work out.
Maybe the argument is the product isn't worth 2k + $40 a month but nobody who has used a Peloton would call it a 'gimmick.'
Of course, working out outside is ~free, but the gigantic market for home exercise and fitness classes tells us that most people don't want to do that...
haha harambe again favors the most bogus product and story. I have seen this for a long time now. if you really believe this now you should put all your money into peloton stock?