Peloton’s push into gyms: CEO Peter Stern’s big bet

This week’s guest is Peloton CEO & President Peter Stern. He takes us inside the company’s push to reinvent itself after its post-pandemic struggles — including its latest move into gyms.

Peloton became one of the biggest winners in business during the pandemic, but as consumers returned to gyms and life moved on, the company faced a very different reality.

Stern, a former Apple executive who helped create Apple Fitness+, calls the Peloton job a “dream” opportunity.

In his first year as CEO, Stern has set out to “refound” Peloton around a broader connected wellness ecosystem spanning fitness, mental wellbeing, sleep and recovery.

Plus, Stern shares how he manages Wall Street pressure, the “25” system he uses to help his team sift through priorities, the “one-touch” rule that keeps his inbox from piling up, and where he ultimately wants to take Peloton.

In this conversation, we discuss:

00:00: Introduction

01:24: Peter's career journey and early ambitions

02:45: Lessons from McKinsey and Time Warner Cable

03:55: What Apple taught Peter about subscription businesses

05:58: Lessons from leaving Apple for Ford

09:00: Why Peter chose to take on this challenge — and reaction from friends and family