I also sold out of Peleton in March, but for a different reason, Here’s what I wrote: Why? I again decided I’d rather invest in Data, and the Cloud, which can increase forever, than in people’s subscriptions which are inherently finite and limited.
Look, the amount of data can double next year, and the year after, and the year after that, but can you see Peleton keeping ALL their subscribers, and adding to them a number which equals ALL of the current subscribers next year, to double once?
And then the year after, keeping ALL those doubled subscribers, and adding to them a number which equals ALL of those already doubled subscribers the year after, to double even a second time, much less a third?
That seems almost literally impossible, but I’ve been wrong before and I can be wrong again.
Saul