{"id":1405,"date":"2022-12-20T13:30:00","date_gmt":"2022-12-20T13:30:00","guid":{"rendered":"https:\/\/entertainment.runfyers.com\/index.php\/2022\/12\/20\/fails-of-2022-pelotons-year-of-layoffs-gaffes-and-ship-metaphors\/"},"modified":"2022-12-20T13:30:00","modified_gmt":"2022-12-20T13:30:00","slug":"fails-of-2022-pelotons-year-of-layoffs-gaffes-and-ship-metaphors","status":"publish","type":"post","link":"https:\/\/entertainment.runfyers.com\/index.php\/2022\/12\/20\/fails-of-2022-pelotons-year-of-layoffs-gaffes-and-ship-metaphors\/","title":{"rendered":"Fails of 2022: Peloton\u2019s year of layoffs, gaffes, and ship metaphors"},"content":{"rendered":"<p> <br \/>\n<\/p>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 -tracking-1 leading-160 dark:text-white selection:bg-franklin-20 dark:selection:bg-blurple [&amp;_a]:shadow-underline-black [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple dark:[&amp;_a]:shadow-underline-white\">The year 2021 wasn\u2019t great for Peloton. Its stock tanked. Its premium treadmill <a href=\"https:\/\/www.theverge.com\/2021\/4\/16\/22388707\/peloton-fighting-recall-treadmill-child-death\" target=\"_blank\" rel=\"noopener\">killed a small child<\/a>, injured several others, and wound up being recalled. Its new, affordable treadmill also <a href=\"https:\/\/www.theverge.com\/2021\/5\/6\/22423745\/peloton-recall-timeline-tread-plus-john-foley\" target=\"_blank\" rel=\"noopener\">ended up being recalled<\/a> before it ever officially launched. By December, Peloton was the butt of everyone\u2019s jokes after Mr. Big, a major <em>Sex and the City<\/em> character, died on his Peloton Bike in the first episode of HBO\u2019s sequel <em>And Just Like That&#8230;<\/em>.<em> <\/em>Peloton tried to <a href=\"https:\/\/www.theverge.com\/2021\/12\/13\/22831861\/peloton-and-just-like-that-big-commercial-response\" target=\"_blank\" rel=\"noopener\">clap back<\/a> with a cheeky commercial.<em> <\/em><a href=\"https:\/\/www.theverge.com\/2021\/12\/17\/22841034\/peloton-viral-ads-sex-and-the-city-mr-big-chris-noth-sexual-assault\" target=\"_blank\" rel=\"noopener\">That backfired<\/a>. The year ended with murmurs about a potential sale. <\/p>\n<\/div>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 -tracking-1 leading-160 dark:text-white selection:bg-franklin-20 dark:selection:bg-blurple [&amp;_a]:shadow-underline-black [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple dark:[&amp;_a]:shadow-underline-white\">And yet, somehow, 2022 was worse. <\/p>\n<\/div>\n<div>\n<figure class=\"my-9 lg:mx-0\">\n<div class=\"duet--media--content-warning relative\" style=\"padding-top:66.66666666666666%\"><span style=\"box-sizing:border-box;display:block;overflow:hidden;width:initial;height:initial;background:none;opacity:1;border:0;margin:0;padding:0;position:absolute;top:0;left:0;bottom:0;right:0\"><noscript><img alt=\"Peloton Guide on top of a TV\" src=\"https:\/\/cdn.vox-cdn.com\/thumbor\/O1S9ChDcNB4nuPTX1C1kXqbeZyY=\/0x0:2040x1360\/2040x1360\/filters:focal(1020x680:1021x681)\/cdn.vox-cdn.com\/uploads\/chorus_asset\/file\/23366146\/vsong_220331_5109_0008.jpg\" decoding=\"async\" data-nimg=\"fill\" style=\"position:absolute;top:0;left:0;bottom:0;right:0;box-sizing:border-box;padding:0;border:none;margin:auto;display:block;width:0;height:0;min-width:100%;max-width:100%;min-height:100%;max-height:100%;object-fit:cover\" loading=\"lazy\"\/><\/noscript><\/span><\/div>\n<p><figcaption class=\"duet--article--dangerously-set-cms-markup inline [&amp;&gt;a:hover]:text-black text-gray-13 dark:text-gray-e9 dark:[&amp;&gt;a:hover]:text-gray-e9 [&amp;&gt;a]:shadow-underline-gray-13 [&amp;&gt;a:hover]:shadow-underline-black dark:[&amp;&gt;a]:shadow-underline-gray-63 dark:[&amp;&gt;a:hover]:shadow-underline-gray-63\"><em>McCarthy has said that while the Guide has high customer satisfaction, most people don\u2019t know it exists.<\/em><\/figcaption><cite class=\"duet--article--dangerously-set-cms-markup inline not-italic [&amp;&gt;a:hover]:text-gray-63 text-gray-63 dark:[&amp;&gt;a:hover]:text-gray-bd dark:text-gray-bd dark:[&amp;&gt;a]:text-gray-bd [&amp;&gt;a]:shadow-underline-gray-63 [&amp;&gt;a:hover]:shadow-underline-black dark:[&amp;&gt;a]:shadow-underline-gray dark:[&amp;&gt;a:hover]:shadow-underline-gray\">Photo by Victoria Song \/ The Verge<\/cite><\/p>\n<\/figure>\n<\/div>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 -tracking-1 leading-160 dark:text-white selection:bg-franklin-20 dark:selection:bg-blurple [&amp;_a]:shadow-underline-black [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple dark:[&amp;_a]:shadow-underline-white\">Despite setting out to take back control of its own narrative, all Peloton has managed to do is stick its foot in its mouth. It probably hasn\u2019t helped that McCarthy tried to spin a $1.2 billion loss as \u201csubstantial progress,\u201d using <a href=\"http:\/\/www.theverge.com\/2022\/8\/25\/23321488\/peloton-q4-earnings-barry-mccarthy-fitness#:~:text=In high school,fortunate, happy ending.\" target=\"_blank\" rel=\"noopener\">a convoluted metaphor<\/a> likening Peloton to a careening cargo ship in the midst of a daring Mediterranean rescue.<\/p>\n<\/div>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 -tracking-1 leading-160 dark:text-white selection:bg-franklin-20 dark:selection:bg-blurple [&amp;_a]:shadow-underline-black [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple dark:[&amp;_a]:shadow-underline-white\">It wasn\u2019t a great year for Peloton products either. The <a href=\"https:\/\/www.theverge.com\/23009893\/peloton-guide-review-fitness\" target=\"_blank\" rel=\"noopener\">Peloton Guide<\/a> hasn\u2019t really taken off, while the long-awaited <a href=\"https:\/\/www.theverge.com\/23474039\/peloton-row-review-rower-connected-fitness\" target=\"_blank\" rel=\"noopener\">Peloton Row<\/a> has been the victim of supply chain issues. The Row was <a href=\"https:\/\/www.theverge.com\/2022\/5\/13\/23068592\/peloton-connected-rower-homecoming-tom-cortese\" target=\"_blank\" rel=\"noopener\">teased back in May<\/a>, preorders began in September, and deliveries were slated for December. But in its Q1 2023 earnings call, McCarthy confirmed that Peloton\u2019s <a href=\"http:\/\/www.theverge.com\/2022\/11\/3\/23438486\/peloton-q1-2023-earnings-barry-mccarthy#:~:text=Meanwhile, the CEO heaped heavy praise on the Peloton Row, claiming that the device \u201creinvented the category.\u201d He then noted that Row inventory would be constrained this year, even as demand was expected to grow.\" target=\"_blank\" rel=\"noopener\">rower inventory would be constrained<\/a> even as it expected demand to grow. Neither product was bad. I enjoyed using both when reviewing them. They just weren\u2019t enough to give Peloton its momentum back.<\/p>\n<\/div>\n<div>\n<figure class=\"my-9 lg:mx-0\">\n<div class=\"duet--media--content-warning relative\" style=\"padding-top:66.66666666666666%\"><span style=\"box-sizing:border-box;display:block;overflow:hidden;width:initial;height:initial;background:none;opacity:1;border:0;margin:0;padding:0;position:absolute;top:0;left:0;bottom:0;right:0\"><img alt=\"Peloton cycling shoes on a mat\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" decoding=\"async\" data-nimg=\"fill\" style=\"position:absolute;top:0;left:0;bottom:0;right:0;box-sizing:border-box;padding:0;border:none;margin:auto;display:block;width:0;height:0;min-width:100%;max-width:100%;min-height:100%;max-height:100%;object-fit:cover\"\/><noscript><img alt=\"Peloton cycling shoes on a mat\" src=\"https:\/\/cdn.vox-cdn.com\/thumbor\/CLNjjQt8hKQdLVWtn6fy34zYU7I=\/0x0:2040x1360\/2040x1360\/filters:focal(1020x680:1021x681)\/cdn.vox-cdn.com\/uploads\/chorus_asset\/file\/22233855\/akrales210108_4344_0051.jpg\" decoding=\"async\" data-nimg=\"fill\" style=\"position:absolute;top:0;left:0;bottom:0;right:0;box-sizing:border-box;padding:0;border:none;margin:auto;display:block;width:0;height:0;min-width:100%;max-width:100%;min-height:100%;max-height:100%;object-fit:cover\" loading=\"lazy\"\/><\/noscript><\/span><\/div>\n<p><figcaption class=\"duet--article--dangerously-set-cms-markup inline [&amp;&gt;a:hover]:text-black text-gray-13 dark:text-gray-e9 dark:[&amp;&gt;a:hover]:text-gray-e9 [&amp;&gt;a]:shadow-underline-gray-13 [&amp;&gt;a:hover]:shadow-underline-black dark:[&amp;&gt;a]:shadow-underline-gray-63 dark:[&amp;&gt;a:hover]:shadow-underline-gray-63\"><em>Peloton began selling the Guide, the original Peloton Bike, and accessories on Amazon this year.<\/em><\/figcaption><cite class=\"duet--article--dangerously-set-cms-markup inline not-italic [&amp;&gt;a:hover]:text-gray-63 text-gray-63 dark:[&amp;&gt;a:hover]:text-gray-bd dark:text-gray-bd dark:[&amp;&gt;a]:text-gray-bd [&amp;&gt;a]:shadow-underline-gray-63 [&amp;&gt;a:hover]:shadow-underline-black dark:[&amp;&gt;a]:shadow-underline-gray dark:[&amp;&gt;a:hover]:shadow-underline-gray\">Photo by Amelia Holowaty Krales \/ The Verge<\/cite><\/p>\n<\/figure>\n<\/div>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 -tracking-1 leading-160 dark:text-white selection:bg-franklin-20 dark:selection:bg-blurple [&amp;_a]:shadow-underline-black [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple dark:[&amp;_a]:shadow-underline-white\">Earnings call after earnings call, McCarthy tried to convince investors that the company was successfully reversing its fortunes, only to see its stock price plunge further. Investors like seeing numbers go up, not down. And it makes sense why some investors aren\u2019t buying Peloton\u2019s comeback story. (One activist investor group even published a <a href=\"https:\/\/www.blackwellscap.com\/wp-content\/uploads\/2022\/02\/BW_Peloton_Presentation_Feb072022.pdf\" target=\"_blank\" rel=\"noopener\">scathing 65-page slideshow<\/a> on all the ways Peloton had royally cooked the golden goose.) <\/p>\n<\/div>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 -tracking-1 leading-160 dark:text-white selection:bg-franklin-20 dark:selection:bg-blurple [&amp;_a]:shadow-underline-black [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple dark:[&amp;_a]:shadow-underline-white\">The bottom line is that the company cut more than 4,500 employees from its workforce in four rounds of layoffs, shuttered its domestic manufacturing ambitions after investing hundreds of millions of dollars, and decided to downsize its retail presence. At this point, its shares have <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2022-11-03\/peloton-s-90-dive-just-part-of-boom-to-bust-174-billion-plunge\" target=\"_blank\" rel=\"noopener\">lost 90 percent of their value<\/a> in the past 12 months.<\/p>\n<\/div>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 -tracking-1 leading-160 dark:text-white selection:bg-franklin-20 dark:selection:bg-blurple [&amp;_a]:shadow-underline-black [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple dark:[&amp;_a]:shadow-underline-white\">To be fair, turnarounds do take time. But the harder you fall, the longer it takes to regain your footing, and the more difficult it is to rebuild. Peloton fell real hard.<\/p>\n<\/div>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 -tracking-1 leading-160 dark:text-white selection:bg-franklin-20 dark:selection:bg-blurple [&amp;_a]:shadow-underline-black [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple dark:[&amp;_a]:shadow-underline-white\">Even so, it\u2019s hard to write the company off completely. The content hasn\u2019t changed, and while the connected fitness boom has slowed, it\u2019s far from over. Peloton still has a solid product even if it has a dubious business plan. Luckily for Peloton, its customers are a hardcore, extremely loyal bunch. The thing is, they\u2019re not the ones Peloton needs to win over. <\/p>\n<\/div>\n<div>\n<p class=\"duet--article--dangerously-set-cms-markup duet--article--standard-paragraph mb-20 font-fkroman text-18 -tracking-1 leading-160 dark:text-white selection:bg-franklin-20 dark:selection:bg-blurple [&amp;_a]:shadow-underline-black [&amp;_a:hover]:shadow-highlight-franklin dark:[&amp;_a:hover]:shadow-highlight-blurple dark:[&amp;_a]:shadow-underline-white\">In 2023, it won\u2019t be a question of if Peloton will recover. It\u2019ll be whether everyone else will give it the chance. <\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.theverge.com\/23502274\/peloton-2022-fails-connected-fitness\" target=\"_blank\" rel=\"noopener\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The year 2021 wasn\u2019t great for Peloton. Its stock tanked. Its premium treadmill killed a small child, injured several others, and wound up being recalled. Its new, affordable treadmill also ended up being recalled before it ever officially launched. By December, Peloton was the butt of everyone\u2019s jokes after Mr. Big, a major Sex and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1406,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":{"0":"post-1405","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-tech"},"_links":{"self":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/1405","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=1405"}],"version-history":[{"count":0,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/1405\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/1406"}],"wp:attachment":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=1405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=1405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=1405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}