Business Wars The Rise and Fall of Peloton | Welcome to the Ride | 1
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Oct 8, 2025 John Foley's vision for a connected exercise bike revolutionized home fitness, leading to Peloton's rise during the pandemic. The founding team cleverly positioned it as a media-centric business. They exceeded Kickstarter goals, validated demand, and attracted a loyal subscriber base. Despite rapid growth, the company faced challenges, including competition and financial pressures. The backlash from a controversial holiday ad and signs of early decline before the pandemic added tension. Peloton's journey is a fascinating blend of innovation, marketing triumphs, and hurdles.
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Employee Bets On Stock Windfall
- A Peloton designer checks the company's stock each morning as a bright spot during the pandemic.
- She and her husband imagine buying a house after Peloton's price surge, showing employee emotional stakes in stock performance.
Founders' Early Pitch And Pivot
- John Foley pitches a connected bike that streams live classes to recreate the studio experience at home.
- His friend initially dismisses the hardware but later reframes the business as a media-first company focused on classes.
Sell The Platform, Not Just The Product
- Peloton's core business is content and community, not the hardware delivery system.
- Framing determines investor and customer perception, so sell the platform more than the product.