I’d be interested in one of their bikes if the monthly subscription was as cheap as their app counterpart - which is like $10/month or something. No way I’m paying $44/month.
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Peloton Turning to Apple Suppliers After Failing to Find a Buyer
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Same here. We just got a Bowflex C6 which does everything we need with Fitness+. I’d buy the Peloton for the supposed good hardware but I’m not paying that monthly fee.
Still see value and still love it. Pre-pandemic buy and all the business news aside, still a fun product.
People think it's just for riding, or running, but they do so much more than that. Yoga, stretching, foam rolling, walking, etc... You are paying for more than just the bike/treadmill to work, it's a whole 'system'.
massive peloton stan here, recently upgraded (2022) from a bike to a bike+ with its price drop. why was this company manufacturing for itself anyway?! why did it sink a ton of money into Precor to integrate manufacturing, and that boondoggle of a giant factory in Ohio? the story of Peloton now is undoing all of the former CEO's unforced errors.
So it's bad to provide jobs for Americans? Interesting...
They wanted to have more control over ordering and production, and moving production, or maybe 'assembly' to the US seemed to be the answer. Order a bike, treadmill, etc, and it's helping people with jobs and helping them controlling ordering and delivery. It was a good idea, but they would have to have the ordering drive to help pull it off. Their ordering tailwind dried up, and making such a huge decision wasn't such a good idea. Perhaps the best thing would have been to start a US based contract manufacturing center rather than bare the whole weight of the complex themselves.
It's sad that moving manufacturing back in country is seen as a 'bad decision'.
Looks like Peloton is in a bad situation. Wonder what its future will be without any outside investor.
I suspect you misunderstood @xerethar's point.
Moving manufacturing back to the US is a fine thing, when you make that decision in a business environment that will support it.
Committing hundreds of millions of dollars to do so, at the time when you've largely saturated your market and macroscopic factors are poised to reduce future orders even further... maybe not so much.
Not only did over 2800 people lose their jobs, but investors have also taken a bath with the stock losing "95% of its value since peaking in December 2021 at about $171 a share."
No I don't think I misunderstood, I noted a rather snarky tone to their post, and it seemed to be aimed at moving jobs back here, and making the things in country. Sure, all that you say is necessary, but I pointed out that Peloton management misread, ignored, 'the writing on the wall'. IF their orders had stayed the same, they likely could have afforded to pull it off. (Then why did they buy Precor?) but the Pandemic bubble largely burst and they had committed to a huge effort for a market that wasn't there. How did they get it so wrong? Who knows, but they had a good idea and it failing like that could stop other companies from trying it too, sadly.
But whatever...
Peloton deserves to survive, but time will tell...