The Ledger
Every statement that passed quotation and attribution checks. Mix any filter with any other: certainty 1/5, debate potential 5/5, or both at once.
why aren't all 20 resolved? a statement only gets an assessment when the public record can support or contradict it. opinions and what-ifs never can, and 0 checkable ones are still open, waiting for their date. predictions held up or didn't; assertions are supported or contradicted. on every card: ▮▮▮▮▮ certainty · ▮▮▮▮▮ debate potential. speakers are clickable
Cutler: Advice to remain emotionally detached when selling a business is false
“I will say that there are those who said to me when we were getting ready to do our original deal in 2011 you know, selling a business is not like selling a child. I mean, You have children. This is your business in a very detached way. And I will say that tha…”
Foley: Early Peloton team got kicked out of Flywheel and SoulCycle
“Well, we all of us very quickly got kicked out of Flywheel and SoulCycle.”
Cutler: SoulCycle Framed Its $27 Class Price as Two Cocktails
“We started at 27 dollars a class. We thought about it as two cocktails or inexpensive personal training”
Rice: SoulCycle Merch Acts Like a Souvenir From a Great Vacation
“I always say that the merchandise at SoulCycle is almost like having to buy the t-shirt from the best vacation that you've just been on.”
Rice: Selling a Business Triggers Mourning, Spending, Then Forward Planning
“You know, I think that there's, you know, there's definitely a mourning period. There's definitely, you know, a period where you spend some money. And then there's definitely a period where you begin to think about, you know, what am I going to do next?”
Cutler: SoulCycle could have scaled without outside investment
“The truth is, looking back, yes, we could have done it.”
Cutler: Customers Value and Engage More When Paying Per Class
“People value what they pay for, and if they pay for something, then when they walk in the front door, And they participate, they're going to bring something different than if they aren't paying for it.”
A $200K payout from an early Izze investment helped fund SoulCycle
“I know that Izzy, a check from Izzy, also helped to finance the start of SoulCycle. We did that episode years ago, and I know one of the founders of SoulCycle was an early investor in Izzy, and they got a 200,000 dollar check, and that helped to finance SoulCy…”
Cutler: SoulCycle Reached Positive Cash Flow in Five Months
“So we were positive cash flow by month five.”
Rice: We Predicted the SoulCycle Logo Would Become the Nike Swoosh
“One day it's not even gonna need to say SoulCycle, it's just gonna be like the Nike swoosh. People are just gonna know what it stands for.”
Rice: SoulCycle Opened Three Months After Its Co-Founders First Met
“We met in January, and we opened SoulCycle in April.”
Rice: SoulCycle Elevated Fitness Instructors Into the Brand's Rock Stars
“So we were sort of, we sort of thought, let's build the stadium. Let's put these rock stars on this stage. Let's let them sort of, you know, be the faces of and bask in the glory of and change these people's lives. That was really what we were doing. We were b…”
Rice: SoulCycle designed 65 to 125 apparel SKUs monthly three years in
“I would say by the time the collections really got into full swing, which was probably about three, four years into the business, we were designing about 65 to a 125 SKUs a month.”
Rice: SoulCycle Absorbed $65 Daily Fines for Guerrilla Rickshaw Advertising
“So we would get a ticket for 65 dollars a day for each day that the rickshaw was chained up to that parking meter.”
Cutler: SoulCycle Launched With $250,000 in Initial Startup Capital
“So we took 250,000 dollars and started SoulCycle with that.”
Cutler: SoulCycle Reached $10 Million in Transaction Volume by 2008
“We are running ten million dollars of cash from our, all of our transactions through your bank, and that, that is your message to me”
Cutler: SoulCycle Co-Founders Used a Coach to Navigate Business Tension
“There's no question that it did. There, I mean, I think that we also lived by this one saying, we always said to each other, high road, long view. High road, long view. We would never allow ourselves to get down in the mud and get dirty.”
Cutler: SoulCycle never missed payroll during 2008 Tribeca expansion
“But we never missed payroll, and we always had toilet paper, and, you know, that part really worked out well.”