123: Peloton Debuts Two New Instructors and we interview Mark Mohammadpour
September 13, 2019
- Peloton introduced two new instructors this week – Tunde Oyeneyin and Kendall Toole. You absolutely must go read the article linked here to read Tunde’s story. (or better yet, listen to the episode!) This lady is the real deal and I think I have a new favorite instructor. I am looking forward to taking a class with Kendall this coming week and I will tell you more about on the next episode!
- Peloton continues on the road to IPO with the release of a roadshow video. This roadshow video is absolutely brilliant and a complete MUST WATCH for anyone who loves Peloton like I do. It highlights the community and shows many behind-the-scenes details that I can never get enough of. The link is kind of tricky and doesn’t always work, so keep trying if you get an error. It will take you to the main page and Peloton is listed on the left hand side. Scroll down and click and ENJOY!
- Plus TechCrunch has details on just how much Peloton stock will cost on the primary market. For more details on how to get Peloton stock and how it all works – read our special blog post here.
- There’s a new special offer on the bike that shows just how much faith Peloton has in their products.
- Flywheel closes even more stores. Ouch. We’re starting to feel sorry for them. A little.
- More celebrities have been spotted on the bike – Kelly Ripa, Mark Consuelos, and Ryan Seacrest.
- We call the next square in The Clip Out Challenge…and we have a little surprise for you.
- A Peloton instructor got married!
- Selena Samuela is featured on the Peloton blog.
- Jennifer Jacobs plots her next phase.
- mPaceline rolls out new features.
- The Road Riders group cleans up at the Garden State Gran Fondo. Becky Madigan episode can be found here.
- The XXL Tribe gets a mention in Golf Weekly.
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By Crystal — 5 months ago
Peloton’s SEC filings are public, and for those of us outside the financial sector, we are left wondering what it all means. In this special bonus episode, Crystal and Tom O’Keefe bring out an equally special guest who can bring to light all of these complexities. We have Michael Jurenka, a certified public accountant and Peloton owner. Michael brings both his financial expertise and love of Peloton to the table as breaks down Peloton’s filing – from its margin on selling and subscription to the music licensing and more. He also breaks down some of the pros and cons of the IPO filing, helping us understand the whys and hows of the entire process. Join Crystal, Tom, and Michael uncover more of this matter.
Listen to the podcast here:
BONUS EPISODE: Peloton IPO Special with Michael Jurenka
“If Peloton wanted to, if it slashed its marketing and it stopped opening stores to sell the product, it could probably be profitable next year if it wanted to.”
Joining us for a very special bonus episode to discuss exactly what all the fancy government filing paperwork means is Mike Jurenka. How’s it going, Mike?
I’m doing well.
Mike, can you start by giving a little bit of your background so people know where you are from an expertise standpoint?
I grew up in Montana and I went to Montana State University and became a CPA. I got my degrees there. I moved out to Seattle. I worked for a CPA firm for about five years mostly focusing on the tax side and not so much the auditor accounting side. Years ago, I started my firm with another business partner in a little town called Issaquah, which is a suburb of Seattle. We do mostly federal and state income taxes but I also have an affinity for investing and get a lot of questions from my clients about financial planning matters. This is not the first official government form I’ve ever read and look through though that’s not probably the most exciting.
Before we dig in, we should probably put a disclaimer on this that this is not financial advice.
This is for entertainment purposes only because we wanted to dig in. I especially am a big old Peloton nerd, we wanted to dig in a little more.
We’re getting somebody who knows this world a little bit better but do your own digging. Don’t hear this as an endorsement or an unendorsement. It’s a discussion.
I should also disclose that I’m a little bit biased as well because I’m an owner of Peloton Bike.
That makes a difference here. A lot of times with the product, with something this, you have to be careful probably about being too close to the product. A lot of the articles I’ve been reading, it seems like the opposite is at play here. That if you’re not close to this product, I feel it’s easy to be dismissive of it.
All the articles that I looked at getting ready for this, they don’t get the product. They didn’t spend any time with the product. It shows in the articles. As you said, “It’s an infuriating how little research they did.”
The one I posted, which we’ll get into on the next episode of the show, but I wanted to punch somebody by the time I was done reading it.
In the immortal words of Donald Rumsfeld, “You don’t know what you don’t know.” That’s a lot of what’s at play is that it’s easy to go, it’s an exercise bike and we’ve seen those before. It’s a big deal. You put a monitor on it. It is more than that. If you’re not engaged with it, there’s no way for you to know that.
Having said that, let’s talk about the actual SEC filing. What were your overall initial thoughts?
I thought it was an interesting read because being an accounting person and a CPA, we’ll go into a business and I’ll see what they’re selling or something. I’m like, “I have no idea how these guys are paying their rent.” Cupcake shops confused the heck out of me because I’m like, “You have to sell a lot of cupcakes to pay rent here.”
They’re like $8 cupcakes.
The Peloton filing was interesting because it was the first peek into, how is it this company is working? I had a lot of misconceptions about how they were making their money that the registration statement put to bed. The biggest shocker out of it for me even though I have no background in music licensing or anything, but it was obvious from the registration statement that is a super complicated part of their business.
The average person doesn’t grasp how complicated that issue is. It’s not settled law yet. It’s still the Wild West when it comes to a lot of that stuff.
One thing that I feel some of the articles have stated correctly is that there were some surprises in the filing. Things like the cost of the hardware, cost of the software, what kind of profit margins they had, salaries, what are your thoughts on those types of surprises?
I was surprised that they were making quite a decent margin on selling the Bike and the Tread. I had assumed that they were more of like a Costco model or even an Amazon Prime model where they’re making most of their money on the subscription because once they got the bike in your house, the only way to get programming to it is to subscribe to Peloton. I was like, “This $40 a month, they’re probably making a killing on this $40 subscription.” They’re selling you the bike at cost or barely above to get the bike in your house, to get you the subscription but that wasn’t the case at all. I was surprised that they’re making a 42% margin on selling us the Bike and the Tread and they’re making them about a similar margin on the subscription, which I expected to be higher. The music licensing, part of it is a big chunk of the costs of that subscription.
I was surprised at that as well. As far as what the margins are, however, I couldn’t help but wonder if it’s because early on, we were told from the media that it was a loss leader. I don’t think we all got that in her head. It was reported as such. Maybe over time, I don’t even know if this is possible, but in my head, it would seem logical that when they first started making the bikes, it was a loss leader. They were selling it at a loss. Over time, as more and more people could sell more and more then they scaled it. They’ve been making them for a number of years now. I feel like is it possible over time that the reverse has become true?
That’s probably true. They do mention in the registration statement that they’ve added or invested significantly in improving the process of the production. That’s building efficiencies into that supply chain has helped boost their margin. Maybe when they first did start, they weren’t making money on it and it was a loss leader, but as it continued, it’s been steady. If you look at the three fiscal years, the margin has been steady. They figured that out early on.Peloton could start making money. If it wanted to, it could make money tomorrow. Click To Tweet
For our nonfinancial people, I’m asking for them. Maybe explain what a tender offer is. There’s no swiping.
What they did, I would assume that when some of their investors on one of the rounds that they did came to them and said, “We want to own 15% of this company after we do this deal with you, but we can’t do that unless some of these other people who have stock options, exercise and sell those options to us.” What they did was in those rounds make an offer to people who held those stock options and made a market for them so that they could reduce essentially their ownership percentage. I’m guessing that’s why those tender offers are made. That does happen in the private equity world where they’re looking at investing in a company. They want a certain stake in that company going forward. That’s why those likely were made. It might also have been made to help those executives get some cashflow too.
People do lose sight in those early years. They weren’t exactly raking it in. They were pouring it right back into the company. I’m sure that was probably a way to get a paycheck for some people.
I assume that the $500,000 salary you see listed for some of those people for their base salary, I’m sure they weren’t getting paid back in the early years.
People that I have talked to that worked for Peloton off the record have told me that is not the case. I don’t want to get anybody in trouble, but I know that was not always the case. As far as surprising things, the losses are a big point of contention for a lot of people, they’ve quadrupled in the last year. As I think about all the things that have been going on with their expansion into London, the new HQ, they’re building, the new studio they’re building and of course their huge increase in marketing. What would be reasonable to accept? I feel like the losses are normal, but it seems like a lot of people are very put off by it.
It’s hard to say for this type of company if a $500 million or $200 million loss is acceptable. It’s individualized by the company. The other thing you’ve got to remember about financial statements is we’re looking at a specific period. Peloton is what I would argue is a hyper-growth or expansion stage because they’re trying to continue to be the leader in this industry. They’re the first mover. They’ve got to stay ahead of everybody. They’ve got to make certain investments and all those things you mentioned, the new headquarters and studio, that’s not a cheap proposition. That’s a 21-year lease.
Especially in Manhattan.
Rents are not cheap there. The new London studio just came online. They had to build a whole production studio over there.
Simultaneously in two of the most expensive cities on the planet.
Don’t forget hiring talent for London too. They’re going to have to build that up. I know according to the Prophet, they’ve only hired one more instructor for London, but more are coming.
They wouldn’t have built that so that the two that are there now would be the only instructors. They’re going to start filling out that schedule. The other part about the loss, we won’t know probably until another 1 or 2, 3 years if these investments in these types of things have paid off for them. There were also parts of they’re losing money. I don’t find that odd at all, particularly where they’re at in the market. The other part of it that is good to see, even though they are losing money, is they’ve had a 500% growth in the number of subscribers to their content from June of ’17 to June of ’19. That is unbelievable growth. As I’m reading through the statement, I’m picking out these little tidbits. Their employee headcount went from 450 to 1,950. That’s huge growth. They launched Peloton Digital in 2018. It went from 0 to 100,000 subscribers. They added eighteen instructors in the fiscal year 2019 and it’s been a 100% increase in revenue year over year for the three prior fiscal years that we can see. Those are all things that are great to see for a company that’s focused on growth.
If they were making these investments and you weren’t seeing increases in the subscriber base and all those things, that would be even more concerning. If they’re losing money and what they’re spending it on is not paying dividends to back to the company in growth and their subscriber base. In the very first section of the registration, they talk about, what their market is and who they’re targeting. I think the whole Peloton’s luxury or wealth brand gets overblown too because I’m not a wealthy person and I own a bike. I know lots of other people who I wouldn’t label as wealthy who also own this equipment. Their market, they say they’re trying to reach 67 million households in the United States and they’ve barely tapped that market.
I saw that listed. What do they call that?
It’s the TAM.
It’s the Total Available Market.
The thing I find interesting is that when you say that they’ve seen a 500% increase in the subscribers over the last 2.5 years. I find it fascinating that we’ve seen almost the exact same number in the growth of this show. We’ve also seen 400% to 500% growth in our subscribers over the last 1.5 to 2 years.
In other words, that number we don’t feel is inflated because we’re seeing it play out in real life in our own doing the show.
Ernst & Young is their accounting firm and most people didn’t get past a page 80 or a page 100, but these financial statements have been audited by an accounting firm. The accounting firm is signed off that they tested different things to make sure that what the company was telling them was true. They’ve done a deep dive into these financial statements and none of this stuff is over-inflated there. It is what it is. They’re doing a good job. You think about the net loss in a growth company, you’re concerned about how fast are they burning through their cash reserves. If at some point they run out of cash and they can’t continue to fund their growth, then you’ve got a problem.
Think of Tesla. They’re a company that’s past their growth stage and is having a significant problem generating and it’s still burning through a significant amount of cash. In Peloton, that’s not the case. That’s probably why they’re going to IPO is because they probably tapped out the private equity markets at this point. The last investor in the Series F put in $500 million. If the next round has to be bigger than that to support a bigger valuation and should be based on their financial results. The private equity firm is probably not ready to throw down $1 billion to help them get through the next couple of years. The initial public offering was probably their only option.
How do they arrive at these figures in terms of if a company is losing money, what’s the math on how but it’s worth $1 billion or $5 billion, even though on paper it’s trending the other direction?
The last company that bought the Series F put in about $556 million. They got a certain percentage equity stake in the company for that investment. You take that number to divide by whatever the interest they got and that gives you the valuation of the entire company. Even though companies are losing money, their valuation can still be going up because at some point, Peloton will not need to spend this much on marketing to get more customers. Word of mouth is going to take over. They don’t need to run those flashy ads on television as often.
At some point, they’re going to have saturated the store market too. There’s not going to be another mall that they need to open a store in to reach any more customers. Those expenses are going to start to taper off. At that point, hopefully, the revenue from the subscribers has also continued up to the right significant growth trend. Those variable costs are going to start shrinking. Peloton could start making money. If it wanted to, it could make money tomorrow. Its products are driving revenue and margin. They’re spending more than they’re getting in the margin to essentially increase the subscriber base over time.To be a first mover, you need to be out there grabbing the biggest chunk of the market share before somebody else comes along. Click To Tweet
To that point, one of the criticisms that they are getting is that in the past, John Foley has been on record as saying, “We’re profitable.” The financial records are saying, “We’re not profitable.” People are making it sound like he lied. John Foley, in my opinion, is a good person. I do not believe that is true. That’s my personal belief. I have nothing to base it on other than having conversations with them. That’s not how Peloton is in general. What other things could explain that?
He probably segregated these. The income statement is a high-level statement. You’re not seeing all the numbers that go into what’s in that general and administrative expense number.
That’s what I was thinking.
He’s looking at somewhat different reports then we’re seeing the registration statement and saying, “The company is profitable.” If Peloton wanted to, if it slashed its marketing and it stopped opening stores to sell the product, it could probably be profitable next year if it wanted to. Frankly, it almost was in a fiscal year ’18. The other thing that the financial statements are somewhat, what I call misleading unless you understand financial statements is they lost $195.6 million is what the income statement says. There’s another schedule farther back in the notes that say, “This is what our EBITDA loss was and that’s Earnings Before Interest, Taxes, Depreciation and Amortization.”
Basically it’s, “What is our true non-cash loss or true cash loss?” There’s a bunch of things in the financial statements that it didn’t cost them money, but it’s an expense on their financial statements. It may have cost them money in a previous period. Think about all the TIS the Tenant Improvements for the Studios and stuff. Those have a useful life of say, ten years or however long the lease is. Those are being amortized and depreciated over their historical life. If you look at the EBITDA, one schedule, their loss last year was $71,000. In fiscal year ’18, they had a positive EBITDA number. It’s possible that’s what he was referring to. If Peloton wanted to, they could become profitable next year.
They need to stop spending money on the growth, which is its own danger too because they’re trying to be a first mover. To be a first mover, you need to be out there grabbing the biggest chunk of the market share before somebody else comes along. It’s like the Apple and Samsung thing. Apple was the first mover. A bunch of people has iPhones and they tried to grab up as much of that market share as they possibly could. Samsung may be copied them, who knows? People are moving from iPhone to Samsung. They’re trying to grab as much market share and hold on as possible. In order to do that, they need to make these big investments and spend more money than they’re making.
It’s similar to what Netflix has been going through. They know all these studios are going to start throwing streaming companies at them like Disney+. They’ve been throwing money against the wall on content because they knew that they would start losing content very quickly and having competitors.
There are downsides in this report though. What would you say are the biggest cons for Peloton in the filing?
I would say that in the report, the risk to our business go on for 30 pages. I’m not a lawyer, but this is probably done to make sure that they get all the risks as possible outside of the business. A lot of these are risks that any business faces and are pretty mundane. They talk about foreign currency risk. Every business that operates in more than one country has foreign currency risks. They talk about maybe they have paid a processor and they won’t give them the money from the subscriptions. There are tons of risks that every business even a small CPA firm from Issaquah faces. It’s a little misleading as to how much was listed there. The one risk though as I think about this more and more is the instructors.
You remember back in the day when there was a Sirius Radio and an XM Radio and they weren’t combined as SiriusXM Radio. What they were doing is similar to the Netflix-Disney fight is they were outbidding each other for content. They’d bid themselves in the bankruptcy essentially. That’s why we now have a SiriusXM Radio. Could that happen to Peloton in the future? I look at all those stuff following that some of these instructors have and let’s say another company comes in and says, “I want a Matt Wilpers and I’m willing to pay whatever it takes to get Matt Wilpers on my brand and no longer with Peloton.”
Peloton is either going to have to let them go or step up and pay that ridiculous fee. That could happen with any of their instructors that have a big following. That is a risk down the road. The other thing, which is definitely highlighted and we already know from the music licensing lawsuits and stuff that have had been happening and the amount of content that got pulled off the bike. I got mine after the whole content dump. I didn’t realize what was happening, but the music licensing and royalty pieces is also a gigantic issue for them.
That will fall into place eventually because people want to make money off their music. At some point, they’ll figure out a price point that everyone agrees with. It’s a fistfight over what that price point is going to be. At some point, there’s no way that as the music moves forward and you see fewer and fewer records sales, now people aren’t even buying digital copies. They’re streaming and all these music companies, they need to figure out a way to monetize their songs. Things like this are new avenues in which to do that and they want to make sure they’re getting paid appropriately because they’ve seen what happens when they don’t. They get $0.01 for every spin on Spotify and get three million plays and a check for $0.45. I get that they want to carve out and make sure that they get a good deal moving forward but I do feel at some point, that it will resolve itself.
They’ll essentially come to an industry-standard that said, “This is how we do it on streaming.” That costs will become more fixed over time as the market for streaming content gets more and more solidified because right now, it’s a Wild West it seems like.
In regards to people, upstarts potentially poaching instructors, what it reminds me of is professional wrestling. I know that sounds weird, but you saw this in the ’90s with professional wrestling where Ted Turner wanted to start his own professional wrestling thing to air on the TBS properties and then they came in. They spent a ton of money to poach the big names away from what at the time was the WWF. I can’t remember what it was called, but they’re a startup one. It was airing on TBS. That’s why it’s so important for Peloton to stay in this growth mode in terms of dumping money to solidify market share because that’s eventually what killed the other wrestling league was that they would bring over all these big names.
They would poach the Hulk Hogans of the world, but they couldn’t crack that nut. A lot of times, you’d go into the markets and there’s only one arena in which to do a show. They would have to go to these other venues that were either way too big or way too small and were constantly playing catch up. It lasted for a few years and a lot of wrestlers made way more money than they should have. It collapsed and they all went back to the WWF. That’s why it does make sense for them to hemorrhage money at the moment to establish market share. That prevents someone from coming in and trying to gut their instructors to go to a rival brand.
The other thing, maybe Crystal, you’ve probably known more about this than I do since I’m not nearly as deep in the Peloton. As the community grows, it’s going to become harder and harder for riders and runners to get shout-outs and stuff for milestones. When there are more and more people taking that live class, they don’t get a shout-out. Is that going to get frustrating for people? It doesn’t matter to me. I don’t care but it may to some others and so maybe that community feel of the shout-out thing will get lost. We’re already seeing it. I know I’ve seen some stuff on Facebook and people being disappointed. They didn’t get a shout-out to their milestone rides or complaining that, “This person’s got all their ten-minute cooldown ride still counted. That’s the reason why they’re at 1,500 rides.” Is that going to become an issue down the road?
I don’t think that’s going to change the community. What you will see is that Peloton will eventually find a way to go around that. I remember not this past year at Homecoming but the year before that, people were already complaining about it. It was one of the questions that came up when we talked to John Foley live because we interviewed him at Homecoming. He said at the time that he felt strongly that all of the instructors should be free to give the shout-outs whatever they wanted. Somebody had come up with a suggestion like, “Do the shout-outs for 50s or 100s, not every quarter.” That was the suggestion. He was like, “The instructors ought to have the freedom to do whatever.”
That will always remain, but I also think that as their technology gets better and since you’re a newer rider, you may not know this. They used to have small screens in the studio. When the instructors would have all of us in a class, they had nothing to call out who was getting a shout-out. I would say it was mid-2017 that they came out with the bigger screens in the studio that the instructors were using. Now, they have people that are bolded in red for their milestones. They will keep going down that road and everybody who has a milestone for a multiple of 100 will be in a different color than everybody in a multiple of 50 and everybody in a multiple 25.
Birthdays will probably be a different color as well. They’ll come up with some way to highlight that for the instructors so that they can make their choices accordingly. That’s a guess. Peloton feels strongly about maintaining the choices for the instructors. They don’t want to get down to the nitty-gritty of saying, “You have to play this song or you have to do it this way for a shout-out.” They want the instructors to be genuine. That’s important to them.
The other thing that is going to become interesting as they add more and more subscribers. I don’t know what all that technological things that are needed to connect, say 500 riders to a lively ride. At some point, are they going to have to say, “We can’t support 1,500 live riders on a ride. You’re going to have to schedule or reserve your spot for a live ride?” I’m on the Pacific Coast until the woman’s studio open, there was nothing live for me to do. I’ve done everything on demand and I still love the product.
I don’t think that’s the case because there was a time that they did this World Record Ride and they had as many people as they possibly could get on at one time. I know we hit over 7,000 and then for the All For One Ride, they had way over that. They’ve broken records before where it’s been double-digit thousands, 11,000, 15,000 people on a ride. I don’t think that’s an issue. I will say that there was a lot of jumping around and the leaderboard was a joke those days. If that’s where they see it going, that’s the growth that I feel that Peloton is like, “If we’re going to have that many people in a ride, we need to continue to put money into making sure that they have a smooth ride when it occurs.” I also think that you’re going to have more and more instructors because I’ve been told that they’re looking for as many as 32 instructors in London. That’s over Tread, yoga and the Bike. The point being that if you add that many new instructors to the schedule, you’re going to have multiple opportunities to ride a bike live, at the same timeline.
As long as they can keep the user experience where it is, I don’t see any reason why they can’t keep adding people. I espouse the coolness of Peloton all the time to anybody who will listen to me. As long as they keep that customer experience feel, as they continue to grow, they’re going to do fine. That’s my opinion. They’ve got a product. As you were saying, I was shocked about the low rate of the churn of subscriptions because in getting ready for this, I looked up, “What are some other statistics that fitness companies look at?” If you’re LA Fitness or Gold’s Gym, you’re losing 30% to 40% of your subscribers every year and they’re only losing 1%. That’s a shockingly low number for me.Every business that operates in more than one country has foreign currency risks. Click To Tweet
That means the people that are buying the product, not to say that that might not go up in the future as they expand their market and more people join on and that number might go up but to start at that low number, is a good thing for them. Over time, it doesn’t cost them much more to say 5,000 riders to connect a ride as it does for 10,000 riders to connect to a ride. Over time, that subscription number is going to get much bigger and I expect that margin to get bigger. If they can keep those people sticky to their product and not canceling their subscriptions, that’s going to unbelievable moneymaker for these guys.
That’s what I feel people who are writing these articles talking about the IPO don’t get. That’s what they don’t get because they don’t ride the Bike. People aren’t leaving Peloton because Peloton is a different kind of company. Peloton is not in it to make money. They want to make a profit. They want to be a big deal but there are things that they focus on that no other company in the world focuses on. I have never had a company send a handwritten note to me and Peloton has. They’ve done it for numerous other people. When you go into the studio, the instructors take the time to meet you and they talk to you. That has never been the case for me. You’re just a person when you go into a gym. They truly care about the people and I believe that. I don’t think that these other people valuing the company looking at these options, I don’t think they get it. They think, “It’s another flash in the pan.” I feel they’re missing the boat.
Part of it might be that they don’t know where to put Peloton. One of the guys on a CNBC or something was reading, what Peloton is? They list 6 or 7 different things. We’re a software company. We’re a customer company, we sell products. I don’t think they know who to peg and compare Peloton to, because there’s not another company out there that’s doing what Peloton is doing.
That’s right, which is why I don’t see why it’s not obvious that they’re amazing.
If you’re not utilizing it then you see a bike or a tread. The prognosticators like to look at similar things and say, “This is how this other restaurant chain looked when they did their IPO or what have you.” There isn’t a comparable business model to what they’ve created to look at. They’re trying to compare it to other things that they think are comparable, but the things that they’re looking at are one carved out piece of what Peloton does. It’s not a full picture.
The quote that gets me and it was the Business Insider article that I read that he said, “Peloton downplays that they are essentially a bike company.” They’re not tough. When they say that they’re a tech company and they say that they’re a media company, it’s because they are. They’re not just a bike company. If they were selling a bike, we would not be having this conversation right now.
That is infuriating because it’s myopic to discount the hundreds of hours of content that they create monthly and say, “It’s just a bike.” They’re not creating content. It’s not a media company. What else is your definition of media? Especially, I would even get this a few years ago before streaming television had completely disrupted an almost 100-year-old industry. Now that it has, why can’t you see that they’ve created a new streaming television ecosystem within the streaming television ecosystem that’s only two years old? It’s jaw-dropping that people can’t see it. These stories are, might be apocryphal, but the stories about when the Mayflower was coming over and the Indians didn’t even see the boats because it was so much an alien concept that their mind couldn’t process it. It’s what this feels like.
You see the value in Peloton when you see what other companies are doing. You’ve got LA Fitness and Gold’s Gym and all those people, they’re trying to come out with their streaming exercise classes. They’re doing that to try and combat Peloton.
They will fail because they essentially do not get what Peloton is doing differently. They are going to fail because they’re not building a community. It’s not the same. That is not even all Peloton. The community was built from the fact that Peloton listens. They had a huge part of that but even the instructors did that. Jenn Sherman is the cornerstone of building this community because from day one, she has been saying, “Susie, you’re always in my class and I’m glad you came back.” When you take a Jenn Sherman class, you learn about the other people in the class and you see them on the leaderboard week after week. You connect with them even if you never talk to them because you see the same people over and over again and she’s drawing you together by pointing that out. Other instructors, they all have their way of approaching it.
She created that template.
She did. She was their first instructor. If the instructors were not doing that and the community did not make their own Facebook page because they created it and Peloton took it over, then neither of these things would’ve happened. It was the perfect confluence of events and Peloton didn’t mean to create it, but they did. They embraced it. None of these other companies can come close to that. It is impossible to replicate.
It would take years for them to do it. It’s similar to the Marvel, DC thing has Marvel created this amazing universe over ten years before they gave you something like Avengers End Game. DC wants to do it right now and they keep brushing it and they keep putting out substandard products. That’s what you’re seeing. Whenever I see a gym that’s like, “We’re going to have our streaming fitness classes.” Three words come to mind, Blockbuster to-go. It’s the same thing. They’re playing catch up and they’re doing it poorly and they’re missing the point.
You don’t go into an LA Fitness and there’s no Matt Wilpers instructor at any amount that says or Denis Morton or Christine D’Ercole. There’s not that type of talent in their instructor base to even videotape and stream.
When they get one, Peloton will poach them. They’re serving as the minor leagues for Peloton. I guarantee you, any instructor in one of those gyms right now fantasizes about the day Peloton comes in and spots them.
That’s the other thing that I mentioned about maybe the instructors being a risk to them until there’s another product. If you’re a spin instructor, I would say at this point, Peloton is the pinnacle of the place you would want to work. Until there’s another company out there that is leading or is giving a Peloton a run for its money, Peloton is going to have its pick of people.
Which this also goes back to the potential of poaching instructors. That’s going to be difficult because as someone wants to become the upstart and challenge them, there will be this whole subset of instructors chomping at the bit to be the next Denis Morton, be the next Matt Wilpers, be the next Christine D’Ercole or Jenn Sherman or whatever. That’s the goal. They’ve created a goal, a pinnacle for that industry that didn’t exist years ago.
Do you have any feeling where they’re going to set their IPO price?
I’m on the front page of the statement. In the statement, there are a whole bunch of blanks because they haven’t figured it out exactly. On the front page of the statement, they say they’re looking to raise off $500 million. I have a feeling that the number is low because that was the investment that was made on their last Series F round. Peloton is already pulled in over a billion dollars in financing to get the company to where it is. The IPO has got to be bigger than that I would think. The market and the underwriters are going to price the stock at what the market will demand that day because they want to get as much money as they possibly can in the Peloton hands by this IPO.
They’re not going to undersell the market. They’re not going to oversell the market. Peloton could go to the market pretty quickly. Uber, once they released their statement, went public 30 days later and that’s been a disaster since then. Peloton could reasonably go to the market quickly. I don’t think they have to. They’re not in that great of a need. They’re in a much better position than a lot of the IPOs we’ve seen come out this year. There’s going to be a big demand for the stock if people understand it, as we understand it, there will be. The stock price could be shocking depending on how many numbers of shares they decided to issue and how much they were looking to raise that. At this point, I couldn’t tell you what the stock price or how many shirts they are going to sell that day.
When they estimate that they want to raise $550 million in their IPO, is it possible that they deliberately low ball bet number so when they go past it, it looks better? If they tell people they’re going to raise $1 billion and they raised $990 million, people are going to be Nelson Muntz on the Simpsons. If you tell people $550 million and you’re raising $750 million, you’re a rock star. Is that even a possibility or are there formulas in place in-laws that prevent you from playing that game?
When they start filling out those blanks, we’ll get another one of these statements before the IPO happening, which will dictate exactly how many shares are selling. As you get closer and closer to the IPO date and the underwriters are making the presentation to Fidelity and all these other companies that are going to buy some stock on day one, they’ll get a feel for what the stock price is going to be. Leading up to it, they’ll have a good idea of what the true market out there is. They’re not going to oversell it and they won’t undersell it. They’re not going to set the stock price high that they’re not going to sell out the block of shares are going to sell release that day.
They also don’t want to undersell it because they want to hit that sweet spot to where the economic X happens, where supply meets demand. That’s where they’re going to shoot for that specific day. They will have like, “We’re planning on selling many shares, but the underwriter will have the ability to essentially oversell the block by many units if the IPO was going that well that day.” That could be a pretty significant demand for this company. What you don’t want to see or the company is trying to avoid is the Uber scenario.There's not another company out there that's doing what Peloton is doing. Click To Tweet
They come out super hot and then their stock price tanks for the next 3 or 4 months because they’ve got a bunch of unresolved issues they went to the market with. That’s what they’re going to try to avoid is they’re going to try to hit that sweet spot of what the stock price is that they can continue to support as they continue to release information because once they go public, we’re going to start getting quarterly results. We’re going to see how many subscribers they added in the last quarter. We’re going to see what the churn rate is of those subscribers and the stock price is going to move based on those numbers.
Do you have a price in your head that you think would be a good deal? I don’t even know if that’s a fair question to ask. I’m not trying to put you in the spot.
No, I would assume that they’re going to shoot for something that the average person could buy. They’re not going to shoot for an outrageous stock price like Amazon where you can’t get in unless you have $2,000 to buy one share. They’re going to shoot for a price that most people if they wanted to go out and get a couple of shares, they could get a couple of shares. I imagine that the stock price will end up somewhere in around $50 to say $100 per share because that’s what they want to be able to get the biggest market they can. That’s why companies do stock splits and stuff is because eventually, their share price gets so big that the average Joe doesn’t have $2,000 to buy a share of Amazon. They split the shares into five and suddenly, they can afford one of those shares.
It doesn’t happen so much anymore because there are a lot fewer individual investors out there buying shares in their stock portfolio. It’s mostly done by computer, indexes or whatnot. I would say I wouldn’t be surprised to see a stock price somewhere around $50 to $100. In my mind, it’s not so much what the share prices, but it’s how much risk am I willing to put towards this and my personal financial life. If I’m willing to completely lose $1,000, if the share price is $50, I’ll buy 20 shares. It doesn’t matter what the share price ends up to be. It’s more about, how much am I willing to put at risk to own a couple of shares of Peloton? I’ll be honest, I’m probably going to buy a few shares because I had this story that I keep going back to.
I have a client who his wife became disabled on the job. She was at home most of the time and he noticed he’d come home from work that there would be Amazon boxes on the porch and he’s like, “This is a great idea.” It’s hard for my wife to get out. She can order off Amazon. These boxes are showing up, they’re showing up more frequently. This was before Amazon was a thing. He’s like, “This makes sense.” My wife’s figured it out and she’s not a technology person. More and more people are going to figure this out. He’s like, “Yeah, I’ll take $1,000 and buy some Amazon stock. We’ll see what happens.”
That Amazon stock is with that thousand dollars she bought is worth a lot. Peloton could be that next Amazon. I’m probably super biased in this because I have one, but they’ve definitely onto something and they’re doing it the right way. Their financial statements, even though they’ve lost some money, there’s a lot of good stuff in there. A lot of stuff that they should be super happy about and be proud to go to the market with. It’s not something where I’m like, “I’m taking a flyer on this one.” That’s stuff to back up their hype.
It seems like once every generation there’s a product or a service that comes along that people don’t understand unless they’re personally interacting with it like your Amazon story. I feel like this might be that. We should probably in closing say, “This is conjecture and please don’t run out and make decisions.”
Talk to your financial advisor or get one, don’t make investment decisions based on what we said and do not overspend and do something that you cannot afford, please. Don’t come back here if you did.
Mike, where can people find you on social media if you would like to be found?
About the only social media thing I do is Facebook, Facebook.com/MJurenka. Though if you friend me and I don’t know who you are because I find that a little creepy. I’m a member of the Peloton Data Junkies group and the Power Zone Pack group. I’m on your Facebook page. I like to comment and help when people have questions. That’s where I’m at. My leaderboard name is a MapleBar_Fueled.
Why? I could ask that now.
Originally it was MDJ_CPA, which was my initials and the fact that I’m a Certified Public Accountant but then my friends who have a Peloton bike were like, “That is the most ridiculous leaderboard name ever.” First of all, it’s hard to say for a call out. Nobody’s going to try and say that, though Ben did on my 50 rides. I got that. They are like, “You’ve got to think about, where did you go to school? What do you like?” I’m like, “The reason I am the way I am is probably because of maple bars?” That’s one thing. I’m in the search for, it would, Tom and this chicken. I’m scouring the country or whatever for the best hamburger and the best maple bar. That’s where it came from.
Mike, thank you so much for taking the time to do this and walking through all this with us. I appreciate it. It’s nice to get a perspective. I always like people to agree with me, but I feel like this was a discussion rather than the horrible things I’m reading online.
Thank you so much for taking the time out of your busy day.
Thank you very much. If there’s ever anything we can do for you, let us know.
- Mike Jurenka
- Facebook.com/MJurenka – Mike’s Facebook page
- Power Zone Pack – Facebook group
- Facebook – The Clip Out Facebook page
- Peloton Data Junkies – Facebook page
About Mike Jurenka
Mike has been a Certified Public Accountant since 2006. Mike earned a Bachelors of Science in Business – Accounting and a Masters in Professional Accountancy from Montana State University in May 2005. Following graduation, he moved to Seattle and spent the first five years of his career working for Clark Nuber, PS, in Bellevue.
Mike’s areas of expertise include commercial and individual income tax, as well as international tax. His strongest expertise is working with closely held businesses and their owners on tax issues that arise throughout the course of running a business. He consulted with clients at Clark Nuber on accounting for income taxes for large private and smaller publicly traded clients. Assisting several clients with the implementation and adoption of FIN 48, Accounting for Uncertain Tax Positions, is another area Mike excelled.
By Crystal — 1 year ago
Continuously providing great services to users, Peloton has been launching so many new and exciting updates. Letting you in on the latest, hosts Crystal and Tom O’Keefe give you a lowdown on The Denis Morton collection that is hitting stores. They also tap on the new way to track your Peloton activity and the Tread release date rumors. Joining in on the excitement is one of the newest instructor in the Peloton community, Matty Maggiacomo. Matty shares with us his transition from TV and journalism to fitness, tackling on the latest Tread as an instructor and connecting with the people at Peloton. He then answers some of the questions from listeners about what to expect from his classes, how he keeps his shape, how to begin with Peloton as newbies, and more! Don’t miss out on this conversation.
Listen to the podcast here:
An Interview With Matty Maggiacomo Plus A New Peloton Activity Tracker
What do you have in store for the readers?
There is a lot of great information. There is not going to be a visit from the Stat Fairy. There is no visit from the Peloton Prophet. We got two and we get zero.
You are slacking off. Do you think they were mad? Do you think they each were like, “If you’re having the other one?”
I heard a lot of squeaking and buzzing. They were flying by. I don’t know what happened. They didn’t choose to translate for me.
Maybe they wounded each other.
You never know. Those wings are sharp.
They could be.
We also have some news about a new clothing collection. There’s a new feature to talk about. There’s some St. Louis local information. There’s some Chicago information and there’s also some information about a past guest, some Tread rumors and our very exciting interview with Matty Maggiacomo.
Before we get to that, don’t forget, we’re available on iTunes. You can go there to rate, review and subscribe. We have a review. This one is from GG326. They say, “I love my weekly dose of Crystal and Tom. They keep me informed and make me laugh. I appreciate all that they do to advance the Peloton Community. Keep up the good work. #Glass_Girl.”
It also says, “#PelotonHRI.” I don’t know if they were there.
I don’t know either. I don’t remember that leaderboard name. It’s hard to say because when we don’t have a real name. Glass_Girl, reach out to us. If we met you, we’d love to know. Thank you for the review.
I’d also like to point out two things. One, when people like the page, that’s not joining the group. We’ve had a tremendous amount of people liking the page. For anybody that might be reading and they think that they like joining the group by doing that, the group is separate but it’s linked to the page. If you found the page, you should be able to find the group. If you have any trouble, let me know. The group is how you get all the information from us on a regular basis because that pushes it into your feed.
The difference between a page and a group is that if you’re in a group, any post that shows up unless you’ve changed your settings for that not to occur. Any post in the group is going to show up in your Facebook feed, but any post from a page will not. Some will, some won’t. It’s really hit and miss. You never know. If you want to see the updates that we post throughout the week, you’re better off in the group than on the page although we’d love to have you on both. Let’s dig in.
Denis has a new collection coming into the stores.
Do you remember when we talked to Jill Foley and she said that each instructor gets to have their own collection? Since then, we’ve seen the Emma Lovewell Collection. We saw the Ally Love Collection but we haven’t seen the Denis Morton Collection and that is happening very soon. I heard that it’s already in the Ohio Showroom, but none of the other showrooms because he was in Ohio. I don’t know the details. These are rumors that I hear but there were pictures taken of the items that are supposedly part of his collection.
He went there and left it behind like Pelotonian Santa Claus except he got paid for it.
We have that to look forward, which would be very cool. We do, I just don’t know the timeline for it. That is exciting. I can’t wait to see what he comes up with.
Will that be for men or will there be women stuff?
The only instructor that has been male while I’ve been part of Peloton has been Matt Wilpers. He had male and female products. I would assume that it will be both.
I was curious. Are there new features?
There is a new feature on the Peloton page on your Bike which shows up on the computer too. I didn’t check the computer, but they have what’s now called the Monthly Activity Calendar. Before you would get an email with your monthly stats and if you were looking at your account on the bike, you could see what you had done. You could see your overall but you couldn’t break it down like by month or a certain time period. Now, there’s going to be a Monthly Activity Calendar that’s going to show you for that month what you did and all of your stats. You can also go to other months and compare. That will allow you to set goals for the next month coming up. “This is how much I did last month. This is what I should be doing this month if I want to increase my activity.” It looks neat too. It shows you the calories burned and how many rides you took, your favorite instructor, all those cool details.
I wonder if they’re moving to try to graduate people from Strava and bring that all in house with a Peloton branded especially as they’re coming out with more equipment.
I don’t think you could ever get rid of Strava altogether. I couldn’t. The reason I say that is because I realize you could use this for the Tread but if you’re going to round doors, you wouldn’t be able to see the mileage. Strava collects your mileage overall. It collects it whether you’re on a treadmill or you’re outside, it doesn’t care. That’s not true. I lied to you. You can record it and say how many miles you did, but you have to enter it manually. It doesn’t know how many miles you went on Strava if you’re using a treadmill. Peloton is great for tracking the Tread, but Strava is great for tracking outdoors.
I’m wondering if that could be a feature that they would add to make that obsolete and keep all of that internal.
If you’re going to run outdoors, I don’t see how you can get to that point because it’s the activity. It’s what you’re wearing that gets you there.
Strava is an actual device that you buy.
No, it’s an app but it’s connected to the GPS on your phone. You’re saying, could Peloton do that? I was thinking that wouldn’t work. It doesn’t work for me because I don’t have an Android app and it doesn’t do that on the iPhone. I finally got to where you’re coming from, maybe that’s a plan.New York is the nexus of opportunity. Click To Tweet
As they’re collecting all this data, they’re giving you more ways to parse it. They’re adding pieces of equipment. It seems at some point it would be pretty easy to be like, “It can sync to your phone and track your running,” since they have outdoor classes.
How would that work when they have a partnership with Strava? I would be like, “It sucks for you guys. Get out.”
Google used to have a partnership with the iPhone and then they didn’t. I am taking the place of the Peloton Prophet. I am conjecturesizing.
That’s the closest to exercising you get.
I can get close to you and you exercise. By osmosis, I’m fit. I’m pretty sure that’s how that works.
That’ll be interesting to see. I know there are a lot of engineers that they’ve hired and they still have. I checked their website to see what positions are still open.
Do they need a counter promoter?
No, there wasn’t one of those on there. They have still a ton of engineering positions open. Anything could happen. There was still an Android app people they’re hiring too.
I could be on to something.
You could. I have to run that by to Prophet and see what they think.
St. Louis is getting a Peloton. I don’t know if you knew that or not. Are you aware of that?
Yes, I am so aware.
That one that’s coming to St. Louis?
I’m so excited.
People have started to get mailers locally.
My coworker Carol came in and she said, “We got a Peloton ad in the mail.” Her husband, Dave, had taken pictures of it. He texted it to Carol so I could see every page of it, which was sweet, by the way. I thought that was cool. They must be getting close because they’re starting to get people’s minds around it. The interesting thing was it didn’t appear to have any websites or anything on it or saying coming soon. There didn’t appear to be anything indicating that there was a store coming soon. We thought that was interesting.
What was it for, just the bike?
It was talking about the bike. That was it. It was how awesome the bike is.
I wonder how she ended up on their mailing list.
I have no idea. I thought she might be within a certain parameter of the mall because she lives in a zip code that’s pretty close.
It’s a hoity-toity mall and she lives in hoity-toity adjacent neighborhood. It would make sense. My thought is you can pull that data like what are the highest income zip codes.
I’m certain she fits within that.
Explain why we didn’t get one.
I just haven’t come yet. They were like, “There are a lot of people involved and they already have one.”
They took you off the list because they know it would be a waste of their $0.50.
I’m sure that they are paying that close of attention, but it’s exciting nonetheless that they are showing up in mailboxes.
It’s getting here.
Some fellow Peloton users have put together a virtual baby shower.
We have a Pelotonian who is going through a very rough time. I made sure that this was okay to talk about before I did. Her name is Kathleen Sheldon. Her husband died on March 24th of a ruptured brain aneurysm. It is not something they saw coming. I can’t believe this, but she already is a mom to a two-year-old son. She’s due in September with their second child. All of this is going on. She’s had to deal with the trauma, the loss of her husband and now, there’s a baby coming. There’s a lot of stress. Alicia Queally suggested, “Let’s put a virtual baby shower together for her from her Peloton friends.” They’re raising money to give to her. You can go to this link that I will post on our Facebook.com/theclipout Page and you can enter her email address in which I will also include. You can send her a gift card of any denomination, whether it’s $1 or $5, whatever you can afford. She clearly is going to have a hard time. It’s not a one-time expense, she’s on her own. This all started in the Peloton Mom Page. There’s an Official Peloton Mom Page. That’s the only other official Peloton Page by the way. At any rate, all the moms go there and started. I thought, “What a touching wonderful thing to do.” I’m all about the causes. That’d be a good opportunity to raise awareness of it.
If you want to chip it on some level, you can find that on our Facebook page.
On a happier note, Mel Edwards went to the New York City Marathon.
The marathon took place on November 4th of 2018. She’s been doing a fundraiser to raise money. That she could go. She reached her goal. She exceeded her goal. She raised $2,800. She raised more than that, I’m not sure, but it’s called the Team For Kids. That’s the organization that she was raising money for.
She’s not raising money to fund her trip.
She’s raising money for charity.
Team for Kids is a team of adult runners who raise funds for critical services that are provided by the New York Road Runners Youth Program. Those programs empower youth development and encouraged healthy habits via running and character-building programs across the country. It’s a cool program that helps encourage future runners. It comes full circle. It’s been a dream of Mel’s to go to New York City to do the marathon. It’s so exciting for her and I’m so proud. She’s worked so hard to get her running where she wants it and to be happy with her time. Congrats, Mel and good luck in November.
Congratulations. We might have a non-Northeastern Tread released into the wild.
Rumor has it and it is a rumor that apparently the Tread is supposed to show up in the Palo Alto store.
It’s interesting. I guess they’re tracking it.
That’s what I figure. It’s got to.
They get a track with 1 or 2 more Treads on there as long as you’re going in that direction.
Maybe they will. That’s the only one that people have talked about that I’ve seen. There could be other rumors that are circulating that I missed.
It doesn’t sound like you.
Sometimes I can’t keep up on all the doings, all the goings-on.
Speaking of Tread rumors, there’s a rumor going around about when the Tread won’t be in a store, but will be coming to your home.
You would hear about the final purchasing details. I have seen a couple of posts that people have said that on September 23rd, you are going to get an email about how to purchase your Tread. I checked with some Peloton employees. This is Peloton-verified. That is not true. They say that there are no dates that have been finalized. Nothing has been finalized, but they are still projecting that all of the Peloton Treads will begin shipping in the fall. That’s all I could get out of them.
That’s the official word from Peloton, squashing your rumors. They did confirm that August is not in the fall. Is that correct?
They didn’t. I didn’t ask that question. Nobody said anything about it.
You don’t need to ask that question because August is not in the fall.
We’re going to have to agree to disagree. Kids are going back to school. Our kids are going back to school, Tom. That’s the fall. When does school start? The fall?
It’s starting in the fall. If you live in New York City.
When you run, you should wear a hoodie. You got logic.
It’s not fall if there are no hoodies? If it’s too hot to wear a hoodie, it’s not fall?
It instantly reverts back to summer. If it’s too hot for a hoodie. That’s how that works.
Regardless, they are shipping in the fall for the pre-orders.
Shipping in the fall which is not August.We all have this preconception of what a treadmill has always meant to all of us. It's probably the first thing we all ever exercised on. Click To Tweet
Joining us is one of the newest instructor, extraordinaire, Matty Maggiacomo. Did I get it right?
You got it, Tom. One point for you.
What’s his middle name?
I feel like it should be an M-word though. Is it an M-word?
No, I have the same initials as Mary Tyler Moore. It’s Thomas.
That’s a nice monogram though.
As soon as I get rich and famous, I’m going to put it on all my pillows and in my bathrooms.
Matty, we are all curious about how you ended up at Peloton as a Tread instructor. How did you hear about it come to find out about the magic of Peloton?
It’s a great story. Some of you may know him, but my very good friend Cody Rigsby came to me one day and said, “Matty, I have this opportunity. It’s called Peloton. It’s a start-up. They’re going to be filming the classes. I’m going to be teaching cycling. I know you’ve been in fitness for a little while. What do you think?” I said, “Cody, go for it.” I know at that point in time, he was still in his dancing career. He was hustling around. My advice to him was basically, “This is going to be a stable job.” This is me thinking, having no concept of what John Foley’s and the company’s vision was. I said, “You’ll make a couple of hundred bucks on the side every week.” I thought it was going to be a great opportunity. Skyrocketing through the time, you see where the company is now. I would have never envisioned how much growth the company would have encountered, the popularity and the loyalty of the member base.
It’s through Cody that I discovered it. One day, I asked my mother, “Have you ever heard of Peloton?” She goes, “Of course, I know Peloton. Everybody I know has a Peloton.” The opportunity presented itself to join the team. When I found out that the company would be growing and branching out into different areas of fitness, specifically the Tread, which I had six and a half years of experience teaching on treadmill-based classes. It was a calling for me. The more I learned about the company, both from the outside and the inside and I will tell you this as wonderful and beautiful as this company is from the outside. Take my word for it. It’s as beautiful on the inside. It is an amazing place to work. By far, the most innovative company that I’ve ever worked for in my entire life.
I wish I could find that out firsthand. I am so in love with everything Peloton.
I know you guys are and so am I. The people that walk these halls, around HQ and the studios, they wear it proudly. They do. I’ve never seen anything like it. You guys know that I came from the world of television. I was in the broadcast. Since I was a kid, I wanted to be a TV news reporter. I spent a lot of time on TV. I can’t say the same about some of the environments at the big networks. It’s a very cut-throat. It’s a different place, fitness, it’s the endorphins. People that work in fitness are pleasant people to work around and live with both in the studio and at work.
I have a question about your broadcast stuff. Did you work anywhere where people might already know you from?
I was very local and mostly behind the scenes. I was a shooter. I started my TV career as an NBC Page. It was made very first when I got out of college. I used to give tours of Rockefeller in NBC studios. That’s how they break you in at NBC. That was an amazing experience. I’m such a TV nerd. I write it in all my profiles. I am a TV geek. For a fitness person, I watch the entire television. I used to watch all the morning shows, The Today Show, I was an intern at GMA. I even worked over at ABC. I was a shooter for NY1. If you’re not familiar with NY1, it’s our hyper-local news channel.
It’s a home of Robin Scherbatsky.
There you go, Roger Clark and the rest of the crew. That was a lovely place to work. My first week as a shooter, behind the camera, it was the week of hurricane Sandy. I hadn’t even learned how to use the camera. They sent out an email, all hands on deck. I was like in the Rockaways, underwater with my crew. I was still figuring out how to use the camera. It was an experience. That was a tragic event for the tri-state area, talk about being on the front lines.
How did you even transition from TV and journalism into fitness?
It was a hustle because at my next job after NY1, I was on camera and I was a reporter for a station owned by Verizon Fios. I was freelancing. I was making a freelancer salary which was not much to live on especially living in New York City and trying to make it. I got to a point where I had to take different jobs. I was bartending and my first job in fitness was with Barry’s Bootcamp. I started to teach. I was straddling both restaurant, hospitality, fitness and TV which as you can imagine, could drive a person crazy because I had three different sets of bosses. I was looking to streamline. When I found fitness, I was realizing, “This is something that I get to be in front of people.” That was what I wanted to do in the first place. I’m a people lover. I love to work with people. I don’t want to be hunched over a desk. I want to connect. I found that this was a passion. I always loved fitness, but I never realized that I loved it enough that I could be the one to lead a class. I could be the one to teach things to people.
That ended up taking over. I hung up my hat with TV for the time being and started to make a very good living working in boutique fitness. Peloton comes around. Wouldn’t you know it is the convergence of everything that I ever trained? The day I found out about the job and certainly the day that I was offered this opportunity, I talked to my mom a lot. I said, “Mom, this is everything I’ve ever trained to do. I felt I hit the jackpot. I feel like this was created for me.” She got so mad at me. “You didn’t hit the lottery. You didn’t hit the jackpot. You earned this. You worked so hard. You used to wake up at 2:00 AM to work on your new shift.” I was like, “I know, it’s true.” I put my time in and I’ve taught thousands of classes and fallen wholeheartedly in love with fitness. The fact that I sit on a platform along with these amazing instructors and these brilliant people. You know everybody that works at Peloton is brilliant. I’ve never worked with people that were smarter, more intelligent. We sit around the table and everybody has a good idea. I’ve never worked in an environment where that has happened. I feel blessed. I do feel like I won the jackpot even though at least we’d be mad that I was saying that right now.
I have to say that your enthusiasm shows. The way that you communicate with those of us on the other end who are your fans. The way that you are enthusiastic when you’re teaching your class and you’re funny and also natural. You seem to enjoy it so much and it comes across. As a person who takes your classes whenever I can, I appreciate that.
Thank you. It’s a zeal for what I do. Now that Peloton digital is live and the Treads are on the brink of shipment, we have twenty people in the studio during class. I’m connecting with those people in the studio, but I get an opportunity to connect with people all over the country and it will soon be even broader. I need that connection. Even though I’m not perfect about commenting on 100% of the posts, I like people to know that I’m engaged with them. I’m hearing their stories. I’m blown away by their stories. I love when people post, when they DM me, when they’re engaging with me on Facebook. That’s a fun part.
They also get to learn quite a bit about me. They get to see the softer side because we’re doing hard work in that studio. I know there are moments where people are cursing my name. If they can see a softer and I’m a bit of a clown. I do not take myself too seriously. I’m very serious about what I do if that makes sense. Every time you’re in my class and you take my class, whether in a studio or on the Tread, you’re always going to get a kick-ass workout. We’re going to do our work. If I can’t even put a smile on your face or make you forget about that sprint that we’re in for 30 seconds and even make you laugh, then I’ve done my job.
Have you ever ridden in the studio? Do you have a bike? Do you take the tread classes at home, anything like that?
All of the above except that I do not have a bike because I live in a New York City apartment. It’s either Luther or the bike. He takes up a lot of room. We don’t have a bike, but when we upgrade at some point, I’ll be able to get myself a bike. If we upgrade even more, I’ll be able to get a Tread. I’ve taken every single one of the Tread and cycling instructors. You’re shoulder to shoulder with the most world-class instructors in the fields. Why would you not take advantage of the fact that you can learn from them? Everybody has a different flavor and style. I learned from my peers, I learned from these colleagues who have become my family. You have seen the pictures and we’re not pretending. We genuinely like each other. We love each other. We hang out. We’ve got each other’s back. If somebody gets sick, comes down with a cold and can’t talk, we are there to cover and help. That’s the camaraderie, especially in fitness. That exists.
What’s your leaderboard name and can we all follow you?
It’s not creative. It’s MattyM.
When you’re talking about if you upgrade your apartment, here’s what I envisioned in my head is you want to bike and Luther on the treadmill right next to you.
We keep his weight down. He’s not a 60-pound bulldog. For a 42-pound English bulldog, he is incredibly active. You guys have seen, he goes on speed boats. He has been on paddleboards. This weekend, he was running along the beach like it was his first time on the beach ever. He was running after the waves as if they were teasing him. He couldn’t quite figure out what was going on and why these waves were coming at him and then running away from him. He was taking mouthfuls of saltwater and sand.
He’s like a little tiny James Bond dog.
He’s more like a pig.
I picture him wearing a tux. He has these faces. It’s all one expression.
He has a million faces. Growing up, we have dogs my entire life. I never had a dog that has so many faces. The personality is hysterical. He is 100. He is the love of my life, the best dog in the world.
We reached out to some readers and said, “Submit questions for Matty.” We’re going to pound through some of those if that’s okay with you. The first one we have here is from Laura Conley Kwitek. She says that she would love to know if you do any road running races such as half or full marathons and if you would be open to doing a Ragnar Relay.
My last half marathon, I ran in December. It was the Big Apple Half and it snowed the day before. The Central Park and those Harlem Hills get very hard when they are icy. It was a great race. I love long races. Now, I’m not training for one because I have had all eyes on the physicality of what this job entails. We are doing this workload. I could have never guessed my body has changed so much in the past few months. I’ve turned a heavier emphasis on my nutrition. I have always been the guy who eats anything, but now we’re running so much that I need to eat more of it.
I’m trying to make sure that I strike the nutrition balance, strike my own personal exercise balance so that I can still effectively teach. The Ragnar Relay is amazing. The best part about the Ragnar Relay is a team. How cool is that, anything that’s team-related? New York City run clubs are so popular because it’s great to have that camaraderie and there’s so much support. You don’t feel you’re totally flying solo. I would totally be up to it. I would have to see that my schedule could allow it. As teaching comes first and this Tread is about to hit the market in a big way. I need to make sure that I have my eye on the prize for you guys.
This is not a Peloton-proof question, but when you say about to hit the market.
Peloton-approved is coming soon.
I have an Android phone, Matty. You would laugh if you saw what I had to go through to take a class with you, the steps are funny.
I appreciate you. I envision the set up with a tin foil and like an old school TV antenna.
When I’ve seen her struggle, it reminds me of when I first had a VCR, but I couldn’t figure out how to hook up to the TV. I would take the TV camera and film the television so I could watch the show.
That’s what I’m doing. I take my phone and put on voice recorder and put it on top of my iPad to record the audio. Back to the Peloton-approved questions. Marianne Howard would like to know more about Luther. What brought him to Long Island from Rhode Island?
Luther has always lived in Long Island City. We got him a few years ago. I was raised in Rhode Island. My family is still there. I moved to New York City to attend NYU. I was eighteen. I’m a city boy. I’m a New England boy at heart. I still like to go home to Rhode Island and have my chowder. I was just home and my mom’s like, “What do you want?” I’m like, “I want lobster.” She made steamers. The clams, they’re steamed. I still very much wear my Rhode Island pride proudly. It’s the smallest state. It gets a lot of crap but it is a beautiful state. I love to go back in the summer. My grandmother, my mother’s mother always lived in Westchester County in New York. I was always exposed to New York and we would take day trips into the city when we went to visit my grandmother.
I was always so enthusiastic about everything that New York City had to offer. It was calling me from day one. I always knew I wanted to go to college in New York. When I found NYU, I knew it was the perfect college for me. I also knew it is the nexus of opportunity because you have great companies like Peloton that have their headquarters here. For me, I knew that and my young career goals were to be on television. You have to be in the media capital of the world. I wanted to put myself right in the middle of the action. I didn’t need a traditional college experience. I didn’t need the campus. I knew I loved Greenwich Village and the NYU campus. I quickly knew that I could find a community there. I did. I’ve been happy ever since and have no intention of leaving.
Did you have an accent that you had to have beaten out of you for broadcast?
It’s 100%. I tried very hard to lose the regional accent because it is charming but it is very telling and there are certain words. You lose your “ahhs” and it does slip out and being on camera as much as we are at Peloton. In Rhode Island, you drink a beer. You get chased by a bear in the woods. The cupboard is bare.
I hate to be so corrective, but someone needed to say it. We have a little run of questions from Paul Kittinger. To start with, he would like to hear something crazy about Cody that he wouldn’t want us to know.
Cody hates all of my clothes. Cody hates everything that I wear but he’s done a very good job as I have a birthday or Christmas comes by. He’s very good at buying me signature pieces and giving me gifts. It is his goal to make sure I have a little bit more style up my game. I’m very grateful to him for doing that.
That’s nice that he brings you. He’s like, “I don’t like your clothes but I’m going to help you rebuild your wardrobe.” That’s nice of him to do that.
That’s a good friend.
Paul also would like to know, other than teaching, what do you do to stay in shape?
I do take the time to lift some heavyweights. I like to keep a little bit of mass. Running as much as we do. It’s easy to get that runner’s body which for me, I have an ectomorph frame, if you will. I have long extremities. I tend to get very skinny very fast. I try to lift heavy so that I keep up that muscle a definition. I want to make sure that I’m keeping my body up to par so you all can look at me and say, “He has an aspirational body.” I still want to look like my body is attainable. Lifting weights is part of that. Yoga is something that I do regularly and I should do more because flexibility is something that I have struggled with. Incorporating that into my weekly routine is something that’s very important for me. I’m tall so I struggle with a little bit of back pain. I’m speaking to a lot of people out there. Back pain is the most common melody out there, especially for tall people. I find yoga helps that immensely. If I keep myself flexible, I keep my hip flexors open, I feel that I can run faster. The running is unencumbered and it paints the picture and makes me able to do what I need to do for you.
What stuff do you eat to stay healthy? What do you eat when you’re making the choice to not be healthy?
My partner Aaron, he’s also very fit but we do like to cook. That’s the first part. We try to avoid as much takeout as possible and we try to cook for ourselves. You know what goes in your food when you’re cooking it versus ordering takeout. You’re not 100%, were the ingredients organic? Where is it coming from? Are there any additives? Cooking helps that. I’m Italian. We do have a pasta Sunday. I made a full pan of lasagna on Sunday. I do have to have that pasta Sunday.
I’m not going to lie. I’m a little disappointed because in my head when you said pasta Sunday, I was picturing some pasta ice cream mashup. I was like, “Where is this coming?”
I’m a salad fiend. My partner always makes fun of me. He’s like, “In your family, it’s always three courses with you.” When we first started dating, he would come to my house and my mom put out the first plate and he’s thinking, “This is great.” He’s finished and I’m full. We’re like, “No, Aaron, we just started eating.” He said, “It’s the main course, the salad and dessert. What are you talking about?” We still have to take a nap and then come back and finish. For people that ask me about nutrition, I’m not a licensed nutritionist or dietician. The rule of thumb is to try to stay away from the processed. Eat as many fruits and vegetables as you possibly can, lean meats. I eat a lot of yogurts. I would say my diet goals are simple like me. It’s very common sense.
They always say it’s simple but it’s not easy. You must not have a huge sweet tooth like myself because you were saying that you’re running all the time. You can eat everything. I’m like, “I’m running all the time and I can eat everything.” Our everything is a little different.
I don’t have a huge sweet tooth. My Italian-American grandmother would take us to the movies and she wouldn’t let us buy candy. Instead, she would bring Italian delicacies like marinated olives, mushrooms and artichokes. She’d pop these jars open. It’s like the sheets of sliced prosciutto. This is what we would eat at the movies.
There is one more question from Paul. He says, “The fun socks, is there a story there?”
It’s just any opportunity to add a splash of color. I love some high socks because my legs are so long. I’ve always worn high socks. It’s not until I get to Peloton. I was like, “I can jazz this up and match my socks to my shirt.” My sock drawer is overflowing these days.If you're just not feeling right, it's important to take that time to recover. Click To Tweet
Our next question is from Diane Kazalski. I should try preface by letting that her leaderboard name is Mother of Bulldogs, one of her bulldog children edits the show.
Chat is her son, not a bulldog. Tom is convinced that he has paws. Chat is one of our interns and he edits the podcast for us.
She is asking if she can set up a dog playdate, that’s with Eugene and Clarence. She left out Chat who does all this work on the show. All this work on the show doesn’t even get a play date. He’ll go straight to Eugene and Clarence. That was her question, a doggy playdate.
Luther loves other dogs. He’s the sweetest, most delightful. Other Bulldogs, his best friend is a French bulldog. They will run around for hours and hours. Luther is up for a playdate 100%.
The next question from Lori Emerson. She says, “How does Peloton plan to incorporate new runners and joggers into the classes?” She bought the Tread because she loves the bike, but she’s never been a runner. She wants to know, what is the plan to keep newbies injury-free but still engaged? She’s very excited to run with you on the Tread this fall.
Crystal, we’ve been getting this question quite a bit. We have gone through it so thoroughly. I couldn’t even count the number of meetings and seminars that we’ve done in-house where we have sat and talked about how to make this accessible to somebody who has never even stepped foot on a treadmill before, who is graduating or making the transition from the Bike to the Tread, who hasn’t gotten on the Tread in a very long time. It even blows my mind how much programming we’re unveiling that is geared specifically for those people that are beginners that might be scared. I’m going to say treadmill in the sense of the treadmill that we all know from the 1980s that hasn’t changed at all.
For most people, it has become a very expensive clothes hanger and sits and gathers dust in the basement. What we’re doing with this product is we’ve reinvented it. We have made it more accessible and more inviting especially to the people that have dreaded treadmill workouts in the past. We all have this preconception or conception of what a treadmill has always meant to all of us. It’s the first thing we all ever exercised on. When the Tread hits the market and when the Tread is in people’s homes, I can assure you they’re not going to be afraid of it. They’re going to see it as something that is a companion to their lifestyle. That is going to only improve their lifestyle.
We try to make it very clear in our introductions that these classes are for everyone. We will be delineating the different levels. The very beginner, the very intermediate and we’ll have advanced for the people out there that are much more advanced in level. The sweet spot for us is we want to make people fall in love with working out again. We want to make them fall in love with it as much as they are in love with working out on the bike. We’re going to be sure that there are hours of basic programming, there are hours of beginner programming like you would a video game. You’re going to level up. One day you’re going to realize, “I mastered Rebecca’s Beginner’s Class. I’ve taken Andy’s Beginner’s Class and I’ve taken Matty’s Beginner’s Class and chase him back. I’m ready for an intermediate class.”
It won’t be a 45-minute intermediate class. Maybe it will be a twenty-minute intermediate class. People will have options to be able to do that. On the flip side, we’re also going to make sure that if there are days where you’re not feeling it, I don’t have it in me to do a 30-minute class or 45-minute class. Those snackable ten-minute classes, how great are those? It’s like, “I’ve got ten minutes. I don’t know if I can get on the Thread but I’m going to do a ten-minute core class body weight. I’m going to be on the floor the whole time.” It’s going to be such a great menu of options. That’s all we want to do. That’s what we’ve been doing since May is banking all of this amazing content. The minute you receive your Tread, you’re going to have thousands of classes to choose from.
I’m enjoying those ten-minute classes. I can’t do any of the bootcamp because I don’t have a Tread. I’ve done one outdoor class but I love those weight classes. On Sunday, I did a low impact bike ride, a leg workout, an arm workout, chest and back workout and a core workout. It was great. It was awesome.
You can choose your adventure. I love seeing how people have been posting on Instagram where they line all of these ten-minute classes up. You’re not getting bored because people are taking all the different instructors and it’s brilliant. It’s a lot of fun. My mom is the same. I know she’s not the only one out there. She’s renovating her basement so she can get this Tread in there and she can create her own little fitness center. The excitement is palpable.
I was lucky enough to meet your mom when I was there for HR. She’s so nice. We got rid of an old elliptical that we’ve had forever that I never touch anymore. There is a space. I’m ready for the Tread.
Our next question is from Susan Burton. She would like to know what your daily morning routine is.
It depends when I teach class. If it’s an early class, I take my time. I shower. I warm up to make sure I’m in full voice. I do some vocal warm-ups in the shower. I make breakfast. I do some hard-boiled eggs, protein shake, walk Luther and get to the studio an hour before class. This gives me time to center. I plan my class programs a day or two before so it’s fresh in my mind. I run through. We have a great little green room at the Tread studio. I run through some of the exercises. I make sure the flow is correct. I double-check my playlist. My accessory of choice is a giant gallon of Dunkin Donuts iced coffee. I walk around with it and I sip on it and I typically finish it before I start class. Midway through, sometimes I have to pee badly but you’re on camera and you can’t say, “Hold on a minute. I have to use the bathroom.”
I have a question that’s not on our list but I’m going to ask you. I’m going to go rogue and going off the book. I used to be in radio and there’s a nightmare every disc jockey has which is showing my age. The CDs are all stacked up and you knocked them over and he can’t find the next one and he has dead air and you can’t fix this. The dead air nightmare, every DJ has it. If you were in plays in high school, it’s the, “What? The show is tonight. I haven’t even seen the script yet.” Is there an instructor nightmare that’s like that?
The show must go on. As in radio, as in TV, thankfully, we’ve all had hours and hours of practice, things do go wrong. Maybe somebody trips the fire alarm in the building. As long as nobody is injured or in danger, you keep going. We haven’t had any situations where we had to stop. If it’s anything, it comes and goes and we push right on. I would say 99.999% of the time, the member at home has no idea if something happened.
Beyond real things that might’ve occurred, is there something that you wake up in the middle of the night that lays in your subconscious like, “Now we can’t pedal the Bike or the Tread won’t turn?”
I would say if I’ve programmed a class that wasn’t the class that was on the schedule. I’ve been close to doing that because sometimes we line up classes. I’m getting ready to teach my 6:30 and here I am thinking I’m teaching a bodyweight class and all of a sudden, it’s an arms’ and treader’s bootcamp. Thankfully, that’s why I have my morning ritual or my pre-class ritual. Making sure that I’m pressuring up on my Shakespeare before I get to the studio.
Susan had another question. She said, “You are a celebrity in our eyes,” which is totally true.
That was a huge compliment.
She would like to know, have you trained any celebrities or have any celebrities come to any of your classes before?
My previous employer was Barry’s Bootcamp. I had a wonderful career with those guys. That is a brand that is very popular with the celebrity center. There was a range of different celebrities, models and TV personalities that would come to class. I don’t name-check because I like to give them their anonymity for the most part but I see like when Hugh Jackman shouts out Alex. The day that Ellen tweeted to Cody, I almost died. Ellen is one of my role models. She posted on Facebook and I called him up. I was like, “Cody, you have made it.” It’s a huge honor that these people and these Olympians are taking a class with us. Not that we don’t deserve it but to see these gods amongst men are over here and they have a Peloton Bike and they’re using the app. That is got to be the coolest part of the job. If I’m lucky enough, I’ll get a shout out. It is enough for me to hear from each and every one of you. I certainly don’t need that.
The connection for me is more important. I had somebody reach out to me. She said, “Matty, I’m a mom of five. They’re all under the age of ten and I have no time to work out. I have the app now. I’m using Peloton Digital. Thank you so much for making it convenient for me to work out in between the kids napping. Without this, I would never get the time to myself.” That is worth more than any celebrity shout-out. I’m a very emotional person and that makes me want to burst out into tears. This is a fun story. I had a former client who used to come and take class with me at Barry’s. It’s only a handful of times and she was ten days away from her due date.
She was on the treadmill and she was sprinting at ten miles per hour. Her belly was out to here. It was almost hitting the front console of the Tread. I said, “When is this baby due?” She’s like, “It’s coming in ten days.” She had her baby the next day. She posted on Facebook. She took a glutes and legs class with me on the app and she posted on either my Peloton page or my personal page. She said, “I have an announcement. I want everybody to know, I took Alice’s 30 minutes. It was an intervals ride. I took Matty’s ten-minute glutes and legs. I gave birth to my new baby. If anybody wants to induce labor, take Matty’s.” That’s by far the most fun story I’ve heard from a member so far.
Have you ever had a running-related injury?
Not at all. I’m a very cautious person. It’s super important that you’re wearing the right shoes and listen to your body. I’ve always listened to my body. I know when things are a little out of whack. Some days you wake up and I’m not feeling it. That’s a rest day for you. That’s a recovery day for you. I’m happy to say that I experienced some lower back pain and we’d bought a new mattress too. We’ve upgraded to an old lady, firmer than the firm, hardest mattress you could ever buy. My spine is not ready for a soft mattress anymore. That’s my advice to the people out there. If you’re not feeling right, it’s important to take that time to recover. What we’re providing on Peloton Digital and both on the Bike and on the Tread is we are offering so much of this recovery, this stretch content. You’ll hear us in class. We’ll teach a class and we’ll say, “Make sure after you finish this class, you pop into one of the ten-minute or five-minute post-workout stretches.”
My tagline is, “Your body will thank you.” We have gotten into this mindset where it’s like, “It’s not a workout unless I’m dead after or I’m sore for days.” I don’t believe in that. You need to take the time to recover. It is so important to be stretching because that’s only going to gear you up to be able to get on the Bike or the Tread the next day. I love that people are going to have so much optionality here that you do a tread run on a Monday, but the next day, it’s going to be a low impact day. You’re going to get on the Bike and take a low impact class with Robin or with Matt Wilpers. People are going to be at being able to manicure and program out their week to serve what their body needs the most. That’s how you’re going to avoid injury.
Our last question is a set of questions from Gina Mitchell. I want you to know that she threatened us that if we did ask these set of questions, she was going to cut Tom. That’s what she said.
That cute little woman.
She wanted to know how things are going with your pillow bestie. One of her questions was, “Were you scared when you saw her shirt that said she’s your bestie?”
Not at all. I was floored. I thought that was the sweetest gesture. She is representative of how loyal the members are and how loyal these people are to the brand. For me, they’re quickly becoming family. I never thought that in one fell swoop have people like Gina and like you guys. I don’t want to name because I don’t want to leave anybody else out, but be so invested. I’m getting to know them and that’s what I love most about the job. The fact that she connected and we were able to connect. That’s the experience of the Peloton member, period. I’m not saying it’s the Peloton member every single person’s going to be connected to me that way. They’re connected to each and every one of these insightful, knowledgeable, beautiful instructors that I know that they inspire and across the board. Each and every member finds their person or people on this instructor roster. It becomes a synergistic relationship. We get as much out of you as you do out of us.
If you weren’t there, we would be teaching to an empty room, to a feed of cameras that are not broadcasting to anybody. What’s the point? It’s a reciprocal relationship. I’m so hyped and pumped that it was evident at HRI when everybody was coming. They didn’t even know who I was. They still knew who I was. It was like they knew about Luther, they knew where I was from. I can’t believe I look forward to this is the start. I can’t wait to share so much with you people. I can’t wait to grow with you. I have learned so much about being an instructor in the past since May and even before that, working shoulder to shoulder with experts in the field. Rebecca Kennedy and Andy Speer and Robin, any of these guys know so much about the body and the art form. It is so cool to learn from everybody. Learn from you and what you guys love. We’re going to keep doing it.
We were warning people at HRI. We were like, “Get your pictures with the Tread instructors this year because next year, the lines are going to be crazy.”
They were already long this year.
It was like when I saw Guns N’ Roses open for Aerosmith. This isn’t going to last long.
I was blown away. Up until that day, I had no concept of what it was like. It’s extraordinary.
I’m so glad that you have joined Peloton. Thank you so much for taking the time to do this interview. We really appreciate it.
You guys were lovely. It was definitely the highlight of my week so far. It’s just amazing.
Saturday we’re going to do the talk. He’s going to be running on the beach with Luther, he’s going to forget all about us.
Before we go, do you want to remind everybody or tell them for the first time if they haven’t taken a class yet? Where can they find you on the interwebs?
First and foremost, Peloton Digital right now. You’re going to get to know me by taking my class. You’re going to love me. You’re going to laugh at me. You’re going to hate me. There are certain points when we’re in a minute plank or bear plank, there’s a band playing. It’s my favorite position. I sleep in the bear plank. I’m on Instagram @MattyMaggiacomo. My official Facebook Peloton page is Matty Maggiacomo-Peloton, you can find me out there. I will interact. I love when you guys send out the shout-outs, screenshots. That’s the way I’m going to get to know you. You have my promise. I will do my best to comment and interact and like as much as I possibly can. This is just the start. I can’t wait to get to know the members even more.
Thank you very much for taking the time out of what I’m sure is a very busy schedule to talk to us.
Have a great rest of your day and I will take your classes on-demand via a recording with my phone.
Thanks, Tom. Thanks, Crystal.
Matty did not have a recipe for us.
He did not. He was getting ready to go on vacation. He’s on vacation. He’s in Italy. The man was busy.
He should have got us a recipe for something Italian, like lasagna or something.
He was too busy. He didn’t have time. He did our interview and recording classes. He had to pack and then he had to go. You can only expect so much from him. Let him off the hook, Tom.
I was going to eat this one. I was like, “Tom, this is going to be the turning point for me to eat healthy. I’m going to eat whatever recipe Matty sends in and now there’s no recipe. I think I’ll go ahead and stick with chicken tenders and pizza.” I take it as a sign. That brings this episode to a close.
What do you have in store for people next week?
Ron Orth, “Mr. Mayor.” He’s the mayor of Peloton. He’s a big deal.
He’s very instrumental in the existence of a Facebook page for Peloton. He will regale us with tales of olden times.
I can’t wait. I’m so excited to talk to him.
Where can people find you until then?
You can find me on Twitter @RogerQBert or on Facebook at Facebook.com/tomokeefe. If you would like to find us online, you can do so at Facebook.com/theclipout. While you’re there, join the group, stay up-to-date on things. Don’t rely on the algorithms of Facebook to decide whether or not you see things. You can also check out our website at TheClipOut.com. Buy a shirt or something. That’s sitting over there, if you want to do that. That’s it for this one. Thanks for tuning in and until next time.
- Matty Maggiacomo
- iTunes – The Clip Out Podcast
- Facebook Group – The Clip Out
- Official Peloton Mom – Facebook Page
- Team For Kids
- @MattyMaggiacomo – Instagram
- Matty Maggiacomo-Peloton – Facebook Page
- Facebook – Peloton Page
- Facebook.com/crystaldokeefe – Crystal’s Facebook Page
- Instagram – Crystal’s Instagram Page
- @ClipOutCrystal – Crystal’s Twitter Page
- @RogerQBert – Tom’s Twitter Page
- Facebook.com/tomokeefe – Tom’s Facebook Page
About Matty Maggiacomo
Matty joins the Tread team eager to bring his passion for fitness and his high-energy, entertaining teaching style to the Peloton community. A born entertainer, former television reporter and pop culture guru, Matty loves to bring the party to every workout.