Wheel of Fortune

With the IPOs of tech or tech-adjacent companies going more poorly than expect (Uber, Slack, Lyft) or not going at all (WeWork), the folks behind Peloton were well aware the company’s coming out party would be an uphill climb. It wasn’t quite the Pyrenees, but it wasn’t easy. Bloomberg: Peloton Deepens IPO Slump in 3rd-Worst Unicorn Debut Since ‘08. (I don’t ride a Peloton. But I love just like sitting on the couch and watching the videos…)