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Right Before the Pandemic, Peloton Made a Quiet, Shrewd Pivot

Although its name is synonymous with expensive workout equipment, Peloton’s real future lies in apps and on-demand classes

Photo: Roberto Machado Noa/Getty Images

When you hear the name Peloton, you probably think of a bike. In particular, you probably think of the company’s iconic stationary bike that streams fitness…

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