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It's Rico Daily. I'm Ronnie Mola. The hardest part is showing up. You lose 100% of the

shots you don't take. If you don't squeeze your buns, no one else will. What am I doing here,

Emily? I think you're quoting peloton instructors. That's right. Both Emily and I do peloton. Emily

actually owns a bike and is the legitimate owner of a subscription to peloton and I use her

password to do some of the workouts that don't require a bike. Yes, it makes me look very fit.

So back at the beginning of the pandemic, it felt like there was never a better time to be like a

peloton bike, right? A peloton? Give it up for our first time, right? First ride,

long the risk, but excited. Let's do this. People were stuck at home, gyms were closed,

it seemed like everyone you included was buying a peloton. What's happened since then?

The pandemic was sort of the best thing that happened to peloton until it was the worst.

So to back up a little bit, early on in the pandemic, peloton was really well-positioned

to corner the at-home fitness market. It had equipment and content ready to go compared to

competitors like Soul Cycle that didn't have bikes at the ready to send out. And peloton while

it had some studios, that wasn't really the business model. And so they didn't do big layoffs,

they didn't have a ton of overhead, they didn't have to shut down studios, so things looked really

good for peloton. And a lot of people, like myself, put in orders for peloton. I ordered my peloton

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