This week’s guest is Peloton CEO & President Peter Stern. He takes us inside the company’s push to reinvent itself after its post-pandemic struggles — including its latest move into gyms. Peloton became one of the biggest winners in business during the pandemic, but as consumers returned to gyms and life moved on, the company faced a very different reality. Stern, a former Apple executive who helped create Apple Fitness+, calls the Peloton job a “dream” opportunity. In his first year as CEO, Stern has set out to “refound” Peloton around a broader connected wellness ecosystem spanning fitness, mental wellbeing, sleep and recovery. Plus, Stern shares how he manages Wall Street pressure, the “25” system he uses to help his team sift through priorities, the “one-touch” rule that keeps his inbox from piling up, and where he ultimately wants to take Peloton. In this conversation, we discuss: 00:00: Introduction 01:24: Peter's career journey and early ambitions 02:45: Lessons from McKinsey and Time Warner Cable 03:55: What Apple taught Peter about subscription businesses 05:58: Lessons from leaving Apple for Ford 09:00: Why Peter chose to take on this challenge — and reaction from friends and family 11:06: Why Peter personally called Peloton’s recruiter to pitch himself 13:44: The "biggest misunderstanding" about Peloton 15:18: Ad 16:34: Strength classes, Pilates and breathwork: Building an overall wellness ecosystem 18:06: “Refounding” the company 20:21: Peloton IQ: What Peloton is really trying to solve with AI 23:06: Balancing Peloton’s hardware and subscription businesses 25:43: Why Peloton is expanding from homes into commercial gyms 29:11: Partnering with hotels32:03: The rise of GLP-1 and why Peter thinks it could actually be good news for the fitness industry 33:53: Peloton’s international expansion strategy 36:06: Balancing Wall Street expectations with long-term growth 38:21: Peter’s long-term vision 40:01: The “25” system that forces the company to prioritize 42:29: Overhauling its entire product lineup and launching four new products in 10 months 42:59: Audience question 45:03: The “one-touch” rule Peter uses to manage his inbox 44:12: Rapid-fire round This episode is brought to you by Long Angle: https://www.longangle.com/business 🚀 Season 2 of Behind the Business is here, featuring the leaders of brands including Airbnb, Rivian, NYSE, Canva, Samsung, Poppi, Peloton, Revolve, Lucid Motors, PHLUR, The Points Guy and Away. New episodes Thursdays. 👇🏼 SUBSCRIBE + FOLLOW: YouTube: https://bit.ly/YTBTB Apple Podcasts: http://bit.ly/3IFGuIA Spotify: https://bit.ly/SpotiBTB Amazon Music: http://bit.ly/4pPZZPp 🎙️About Behind the BusinessBehind the Business is a Webby Award-winning, thoughtfully produced video podcast grounded in the belief that business is in fact personal. This is not a fawning interview show. We pair deep research with thorough interviews — asking the real questions and avoiding fluff, while keeping it fun! What’s the toughest day you’ve ever had at work? How did you get started when you practically had no money? Or how do you mentally prep for a big event? In each episode, guests get into it all. Each episode also connects guests with young founders who send in a question. New episodes Thursdays.About Michelle TohMichelle is an award-winning international journalist, most recently a longtime reporter at CNN. She's covered top stories in global business, including the chip and trade wars, world-leading IPOs, the corporate response to Russia's invasion of Ukraine, Europe's energy crisis and China's property problems. Previously, she was with FORTUNE. She has reported for The New York Times, TIME and South China Morning Post. Find her on Instagram: / bymichelletoh TikTok: / behindthebusinessshow #ceo #leadership #management #consumerbrands #brandstory #strategy #corporatestrategy #commercialstrategy #fitnessindustry #wellnessindustry #software #hardware #exercise #siliconvalley #vc #scaling #turnaround #business #businesspodcast Learn more about your ad choices. Visit podcastchoices.com/adchoices

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