Trail Running Industry News & Business Opportunities - Seth LaReau of Trail Waves
The Freetrail Podcast with Dylan Bowman
Dylan Bowman
4.8 • 866 Ratings
🗓️ 30 January 2026
⏱️ 69 minutes
🧾️ Download transcript
Summary
Seth LaReau is a trail runner and finance professional working in the technology industry. On the side, he publishes an informative newsletter called Trail Waves, which has become a key part of my information diet. Trail Waves analyzes the business, economics, and culture of trail running, bringing an informed editorial perspective to contextualize industry news in the sport. This is his first appearance on the podcast.
Chapters:
02:51 Introduction to Seth LaReau and his Career
05:38 The Birth of Trail Waves Newsletter
08:30 Analyzing Saturation in Trail Running
11:19 Differentiation and Demand in the Market
14:17 The Role of Brand in a Saturated Market
17:09 Cultural vs. Commercial Impact of Trail Running
19:58 Media Landscape and Monetization Challenges
22:36 The Future of Trail Running Media and Ownership Dynamics
32:45 The State of Strava and Its Future
40:03 The Growth of Trail Running
47:28 Coaching Opportunities in Trail Running
53:10 Reviving the North Face 50 Mile Championship
Sponsors:
- Grab a trail running pack from Osprey
- Use code FREETRAIL25 for 25% off your first order of NEVERSECOND nutrition at never2.com
- Go to ketone.com/freetrail30 for 30% off a subscription of Ketone IQ
Freetrail Links: Website | Freetrail Pro | Patreon | Instagram | YouTube | Freetrail Experts
Transcript
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| 0:00.0 | Hey, fam, welcome to the free trail podcast. Of course, I'm your host, Dylan Bowman, here today with Seth |
| 0:17.9 | Laroo, the author of Trailwaves, one of my new favorite |
| 0:21.3 | newsletters in the great sport of trail running. Trailwaves analyzes the business, |
| 0:26.9 | economics, and culture of our community and industry. It has become a key part of my |
| 0:33.3 | information diet, as I say in the episode. Trailwaves is an instant open and an instant read |
| 0:39.3 | top to bottom the minute it hits my inbox. In fact, as you're listening to this episode, I insist |
| 0:46.0 | that you navigate to the show notes, click through to Trailwaves on Substack, plug your email |
| 0:51.4 | address, and subscribe to follow what Seth is putting out, |
| 0:55.2 | especially if you work in the space, if you aspire to work in the space, or are generally |
| 1:00.7 | interested in sports business. Like I said, the newsletter is amazing. So far, the whole |
| 1:06.0 | archive is totally free and the value I get from it, at least is super high. Trail waves, some topics that |
| 1:14.0 | we discuss in today's episode. We introduce you to Seth the person and talk a bit about his |
| 1:19.3 | career in the technology industry. We talk about the birth of the Trail Waves newsletter. |
| 1:24.5 | We talk about saturation in the trail running market, satisfies Blue Ocean |
| 1:29.7 | Strategy, a term that Seth uses for that exciting French brand. We talk about differentiation |
| 1:35.9 | and its role in creating demand in the market. We talk about the role of brand in a saturated |
| 1:42.2 | market, cultural impact versus commercial impact of trail running. |
| 1:46.8 | We talk about the media landscape and, you know, certain monetization challenges. |
| 1:51.5 | We talk about the ever-evolving bidding war between Paramount and Netflix to buy Warner Brothers |
| 1:56.5 | Discovery, of course, which is a part owner of the Golden Trail World Series. |
| 2:01.9 | What could that mean for the sport? We talk about the state of Strava and its future coaching opportunities in the space, |
| 2:08.2 | reviving the North Face 50 Mile championship, and a lot more. Such a fun episode. Just want to flag at |
... |
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