The Rise and Fall of Peloton | Welcome to the Ride | 1

Business Wars

Wondery

History, Business, David Brown, Management

4.6 • 13.2K Ratings

🗓️ 8 October 2025

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

In 2011, avid fitness fan John Foley comes up with an idea for an internet-connected exercise bike that allows users to experience the communal nature of a cycling class from the comfort of home. He thinks the idea will make gyms a relic of the past. The next year, he and four others found Peloton and the company develops a devoted, but niche following. And when the Covid-19 pandemic hits, Peloton’s popularity skyrockets. The revolution Foley predicted seems like it’s coming true. But can Foley capitalize on this moment, or will Peloton turn into yet another fitness fad?

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Transcript

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0:00.0	December 2020, an apartment in New York City. A woman in her 30s types the password for her investment account. She taps her foot on the floor, trying to dissipate the nervous
0:22.2	energy flowing through her. The woman takes a sip of her coffee as she waits for her account to load.
0:28.6	Just before the site comes into focus, she closes her eyes. There hasn't been a lot to be excited
0:34.8	about in the past nine months since COVID became widespread. The one
0:38.9	exception has been her work. The woman works as a designer for Peloton, which makes a stationary
0:45.3	bike and treadmill. The equipment connects to the internet, allowing users to stream live fitness
0:51.1	classes from home. And right now, Peloton is riding high. As gyms closed across
0:58.6	the country after the government issued lockdowns, Peloton was uniquely positioned to take
1:03.8	advantage of the pandemic. People were looking for ways they could work out in isolation.
1:09.7	And Peloton gave them that.
1:11.8	And its interactive virtual classes also provide community and online interaction.
1:18.9	Ever since COVID hit, the company's growth has exploded.
1:23.6	So it's become a ritual for the woman to check Peloton's stock price and her brokerage account every morning.
1:29.9	A brief moment of joy in dark times.
1:33.9	The woman opens her eyes.
1:36.8	She yells out to her husband who's working from their bedroom.
1:40.4	Honey!
1:41.5	What?
1:42.6	Come in here. I need to show you something.
1:46.0	What is it?
1:47.3	Look.
1:48.3	She pivots the screen toward him and his eyes go wide.
	...

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