In particular, Peloton's target market is overwhelmingly female. You won't find it in this S1, but this alone is why you can straight up disregard everything you will read on HN today about their business model.
No, it turns out women don't buy carbon bikes, a standalone trainer, wrench a cassette on it, put the bike on, hook up a tablet somewhere, install a power meter, ... it's the ole "rsync is superior to Dropbox".