Peloton

“In each fund, we've shown an ability to partner with one or two founders where our investment in the company over time will end up returning the entire fund. It, Duo Security, HashiCorp, Peloton.”

“And so in some of our biggest companies, things like Ring or Peloton or Zymergen, we started with a small check and over time invested 50, sixty million dollars.”

“If you look at the True Ventures portfolio, we had three very big exits over the last two years. Ring.com to Amazon, Duo Security to Cisco, and most recently, the Peloton IPO. Now, these three companies have one intriguing thing in common. They were all built …”

“So I'm a huge Cody Rigsby fan. He is definitely, he's been my long-term favourite”

“If you believe that is a substitution of gym membership and enlarging the pie, and you can argue for those that miss Uber or anything that drive sharing, it's a car ownership substitution, not just a substitution of taxi services, then the pie becomes a lot bi…”

“And I think the only other firm that did that was Matt at Wellington. So both of us only went and invested in both companies.”

“In fact, we end up investing both Peloton and Affirm because of that. When we are talking to Peloton, we know of Affirm, and we were interested to see who Peloton works with in order to have that payment plan, because we know that will make it more affordable.…”

“I remember investing in Peloton at about a billion dollar valuation.”

“This is also around the same time that Fitbit as a publicly traded company was trading at about one times revenue, which isn't great. And Peloton as a private company was trading at about 20 times revenue.”

“I think we're on track to get the business to cashflow breakeven, which enables us to control our own destiny”

“COVID was the marketing campaign that Peloton never could have afforded. And the growth that happened during COVID propelled the business to scale in a way that no other company in the space to a level that no other company in the space has achieved.”

“As I've said to our employee base here, and as we said to the employees at Netflix, we are not a family. We are a professional sports team, and you will want to work here because you will be afforded the opportunity to work with some of the most talented peopl…”

“The brand is golden and the user experience is platinum and always has been. So there are many mistakes that have been made along the way, but from the get go, it's had product market fit. And despite all of the foot faults, it has never once damaged the produ…”

“It was Daniel and a very successful venture capitalist who'd been on the Netflix board for a long time named Tim Haley. Both of us counsel I had sought and my wife together got me thinking about the CEO role because initially I was talking to Peloton about a C…”

“Demand that would have been wonderful. It would have been the greatest stock ever had that demand been spread out over five or six years, increasing at 20% a year. We'd be talking about the Peloton compounding machine. Instead, everyone bought the damn thing a…”