A treadmill maker trying to get users to pay monthly subscription to use it...
Which... isn't a bad business model per se IMO. With the current trend of "self improvement", there are enough people willing to pay lots of money, for everything from gym memberships to individual personal trainers.
The issue is: this is not going to be an exponential-stock-growth-style business model, as many seem to expect. There is no hope for the usual "undercut the competition in pricing and establish a monopoly that can be used for rent-seeking afterwards" VC model, no hope for a make-everyone-filthy-rich acquisition by an established market player, at best this is going to be a steady, "boring" cash cow.
(Note, I don't hold any stakes in Peloton or competitors)
(unless you want your job to be meaningful or something)
The slide deck is comical in its defensiveness of the company itself, how does one compare video remote classes with boutique classes that had better have 8- students to explain $300/month?! Or is this people in LA assuming their local phenomenons are normal?
I do agree on costs, though. I'm a pretty keen cyclist (outdoors) and dabble in running. I have tried various fitness apps like Strava out of curiosity, even played around trying to analyze my own gps traces in Jupyter to figure out my aerobic threshold. But I don't see any of the apps as worth paying a subscription for [1].
[1] Except maybe trailforks, if I'm on holiday in an area I don't know that has unofficial mtb trails well documented on that platform. But now they've made it proprietary I'm far less inclined to contribute my own trails to the database, so go figure.
Expecting long term income from trend followers.