What is up everyone, this is Alex Lieberman, co-founder and CEO of Morning Brew.

Welcome back to Founder's Journal, my personal audio diary where I give you the business

builder, the tools you need to think better in order to build better, whether that's building

a business, a team or a new product, given what has happened in the world over the last

year or so.

Businesses have been impacted in some way.

For many businesses, the impact has been grave.

But for a few, it's been incredible.

And since the start of the pandemic for Peloton, the indoor cycling company has reaped

the benefits of retail closures and ad home exercise.

Their connected fitness subscriptions have grown 134% year over year.

Digital subscriptions have grown 472% year over year.

The revenue hit a billion dollars for the first time.

Total workouts on the platform grew to 113 million in the most recent quarter up from 26

million in the same period last year.

And at its peak in January of 2021, Peloton's stock was up 580% since the beginning of

the pandemic.

And while this time has proven challenging and detrimental for so many businesses, Peloton

has reaped the benefits of an incredible tailwind in ad home activity.

And so when you consider this company's performance that I just described, what do you attribute

it to?

Is it luck or is it skill or is it a combination of both?

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