Any thoughts on where the healthcare fitness space is going to go? Seems like Amazon is now positioned to be deeply integrated into every aspect of your health, now with nutrition and Halo Fitness. I’m not a fan of Apple Fitness and is Peloton going to lose steam?

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I actually think Amazon is playing catch up in the fitness space. Apple and Google (with fitbit) are the leaders when it comes to fitness data, and Peleton is a strong contender. Amazon's offering may be too little and too late to grab significant market share.

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My thought is that Peleton is still burning through startup capital and is hoping to get bought out by one of the integrated tech players (Apple, Google, Amazon, and to a lesser extent, Facebook).

They’ve been positioning themselves as a luxury lifestyle brand, so Apple is the most obvious match, but Apple’s been investing heavily in building that portion of their tech stack in-house through Apple Watch and Fitness and they don’t need to buy the subscriber base. That makes me lean a little more towards Google as the more likely buyer. Even though they already have Fitbit, it’s not as integrated into their ecosystem as Apple’s lineup.

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Great take on it. Google does make sense because I don’t feel they’ve historically been able to cultivate any type of product line that has any sense of personality or cult following and hardware has never been their strong suit.

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