Why expensive workout gear is actually cheap

Equity

TechCrunch

Entrepreneurship, Business News, News, Business, Technology

4.2 • 372 Ratings

🗓️ 14 April 2021

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

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Summary

For this week's deep dive Natasha and Alex wanted to dig into the Tonal EC-1, a huge document spread across a number of posts. Our goals were pretty simple: To better understand Tonal's journey, and also to get into the mind of its author. So we corralled JP Mangalindan into firing up his computer, microphone, and recording software for a chat. Here's what we covered: What is Tonal, why is it interesting, and why did JP spend so much time learning about the company? What did he have to leave out of the final report? His views on fitness gear, and the Peloton effect more broadly What was it like to write something so gosh darn long? The Tonal EC-1 comprises four main articles representing about 10,600 words and a reading time of about 43 minutes: How a homegrown experiment became one of the fastest-growing companies in fitness tech Millions of dollars and 3.5 years, and it all came down to this Building online communities for fun, profit and product Can Tonal become the luxury fitness market champion? As Natasha is currently -- shh, it's a secret -- working on an EC-1 of her own, we had more than a usual amount of interest in the project. Use code Equity for a super sweet discount to access this story and all of our premium content. Credits: Equity is produced by Theresa Loconsolo with editing by Kell. Bryce Durbin is our Illustrator. We'd also like to thank the audience development team and Henry Pickavet, who manages TechCrunch audio products. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Equity is brought to you by Extra Crunch, that Prodigious Tech Ranch Paywell you keep running into.
0:05.0	You can break through that Paywell at a steep discount if you use the promo code Equity.
0:09.0	If you do, you'll get access to our best stuff and you'll make equity look really good
0:12.7	internally at the same time. Enough of unpack the numbers behind the headlines.
0:34.1	My name is Alex Wilhelma and I'm joined today by Natasha Moskarenis.
0:37.5	Natasha, how are you?
0:38.5	Alex, it is so great to have you back on the show.
0:41.0	You were sorely missed and I couldn't dance during the intro like I usually do because I was the one saying at this time.
0:46.7	I just want to point out that I wasn't going to be a petty small child about this but after all the Duncan slams that I took last week Natasha is currently
0:53.6	drinking out of an iced Duncan coffee cup so ladies and gentlemen
0:57.8	Rink hypocrisy is what we're dealing with today no but we are not here to just bang on about
1:03.9	coffee and why I'm right about donuts, but instead to talk about EC ones. And Natasha,
1:08.4	you know, a lot of folks out there that listen to the show and read the site may not
1:12.2	know what an EC-1 is. So can you give us just a kind of a detail about what this project is that we've been working on?
1:17.2	Yes, for equity listeners they'll appreciate this.
1:19.7	An EC1 is kind of a riff on the S1.
1:22.3	The one a company goes is about to go public, riff on the S1.
1:22.5	When a company goes is about to go public,
1:24.3	they file an S1 with all their financials.
1:26.5	E.C.1 has that same ethos, but is like a lot more narrative focus.
1:30.6	And it goes through a company's origin story, it's market, it's challenges along the way.
1:36.1	And the way I've described it as I work on one myself is it's the first draft of a book that
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