Podcasts · Great Business Stories
John Foley and Peloton: What Went Wrong?
· 30 min
Episode John Foley and Peloton: What Went Wrong?
I wanted to dig into this story purely because what I knew of Peloton really was just from the headlines. During the pandemic, stock pickers and the business media crowned Peloton the business of the future. It was called the Apple of fitness. You had the Obamas, Usain Bolt, Leonardo DiCaprio, dozens of high-profile celebrities as customers, and some of Peloton's live classes had bigger audiences than Madison Square Garden. And then, just as quickly, the same press that had lauded him turned on him. Foley and Peloton became the poster child for pandemic-era hubris. A company that reached a $49 billion valuation is now just worth $2.6 billion. Was it all Foley's fault? That's what we'll find out in today's episode. It's a cracking story, enjoy.
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