[esics6A]

Peloton just didn't wine and dine and wow Wall Street enough for them to consistently hype the stock and now it's the CEOs fault? Because he didn't create the "magic show" that Wall Street wanted to see? John Foley is a founder of the Peloton business and created value from nothing to a leading fitness technology company. Why should he have to justify anything he does to asset managers who have never created any value in their entire careers? Wall Street only destroys value and extracts they don't create anything.

You're a founder and your business goes through a few rough years as you build the business and experiment? Wall Street says "quit, give up and sell". What a bunch of Wall Street hacks and they pushed out a perfectly good CEO, really sad. Just so the business could be sold off for a fraction of its' real value to some conglomerate to let it wither away and die.

[yakshemash]

Even though he is a founder, he kind of gave up part of his right of not having to justify anything on the day the company went public. And not by that much for that matter, as he seems to have a disproportionate voting right compared to other shareholders, and can still do pretty much what he pleases even after stepping down as a CEO. There is an option to be completely free from Wall Street's vagaries, and it's called not going public. Once you have taken in investors money, it seems fair to me to have to be accountable to them. The anomaly seems to me to be the other way round here, that people who put their money into the company and undeniably contributed to the company getting to where it is now have pretty much no say on how it should be managed. This lack of accountability might be one of the reasons why poor decision making went on unchecked and led to the current situation.