![]() This is a $295 (£275), fabric-covered streaming media box with “PELOTON” emblazoned on its plastic front cover. Sitting just under the TV set was the Peloton Guide. Then I was handed a remote and instructed to have fun as the doors were shut behind me. ![]() He gestured toward a TV screen as he spoke, which displayed a new version of Peloton’s software. (A second research area was closed off.) Ben Schultz, the company’s director of product management, stood near a single Peloton treadmill and a couple of the company’s signature stationary bikes. The research lab I saw at Peloton was not much larger than a hotel gym, with hardwood floors, painted black walls, and harsh ceiling spotlights. But there are at least two sides to Peloton-the one projected onscreen during sweaty, addictive exercise classes, and the one behind the scenes, where Peloton executives are sprinting on the metaphorical treadmill to release new products into the hypercompetitive home fitness market. ![]() Maybe I expected the vibe at Peloton to match the sparkling energy its famed fitness instructors exude. That’s the first thing that struck me when I visited the company on a nearly-spring day in March, with plans to get a demo of a long-in-the-works Peloton product. For a fitness company as influential as Peloton, its offices and research labs in midtown Manhattan are remarkably sparse.
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