Peloton CEO Says Company Has Crashed So Hard He’s Had to Sell Almost All His Possessions

There aren’t a lot of people who’d say they’re nostalgic for the years of the COVID-19 pandemic, but you can probably count John Foley, the now-former head honcho at Peloton, as one of them.

Peloton, a manufacturer of high-tech exercise equipment, was initially a huge winner of the pandemic economy, when millions of people suddenly needed a way to work out without leaving the house. In 2020, sales climbed by over 170 percent, while its valuation skyrocketed from around $8 billion to nearly $50 billion by the year’s end.

Read more: futurism.com