Blackwells Capital Activist Presentation Deck
B
UNDERWHELMING LAUNCH OF PELOTON GUIDE ON APRIL 5TH
■
"2
"It's a little annoying that the Guide hardware makes working out
less convenient than just using the Peloton Digital app.
The launch of Peloton's latest product,
Guide, has been underwhelming
■ Guide has received mixed reviews, with some
users questioning whether the product has
any competitive advantages in a crowded
home strength training market
Peloton's stock price has declined
approximately -16% since Guide was
launched on April 5
While Peloton has claimed Guide's technology
is "innovative," it does not appear to
meaningfully improve upon a decade-old
offering from Microsoft
BW BLACKWELLS CAPITAL
Undifferentiated
from Competition
Dated
Hardware
Confusing
User Interface
Limited
Functionality
THE
WALL STREET
JOURNAL
WIRED
techradar
V
THE VERGE
WIRED
"While there are benefits to Al keeping an eye on
you during workouts, other products on the
market work as well or better, so unless you're a
Peloton die-hard, think carefully before buying."
"The camera is powered by Qualcomm's
QCS605 system-on-a-chip. This SoC was first
introduced back in 2018, so it's ancient by chip
standards..."2
"...[A]s with every other Peloton product out
there, there's already a lot of data on-screen at
any given time... [H]aving all this information at
your disposal can be overwhelming."³
"[Guide's] movement tracker doesn't count reps.
You don't get specific form feedback."4
(2) Lauren Goode, "With Peloton Guide, the Fitness Company Bets Big on Body
(1) Nicole Nguyen, "Peloton Guide Review: The Strength Training Smart Camera Faces Strong Competition," The Wall Street Journal, April 5, 2022.
Tracking," WIRED, April 4, 2022. (3) Axel Metz, "Peloton Guide won't reinvent your strength workout - but you'll enjoy feeling the burn," TechRadar, April 5, 2022. (4) Victoria Song, "Peloton Guide Review: A Webcam that Watches
You Squat," The Verge, April 5, 2022.
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