[s1mon]

From what I've heard, Peloton is spending way more than the retail price of the bikes to make them. There's certainly plenty of successful businesses that have some sort of loss-leader and then make up for it with follow-on products or services (e.g. game consoles and game publishing). However it seems like they were happily riding the huge growth in subscribers and revenue but not really managing costs in a way that it would ever be net positive.