President Donald Trump said on Monday that China is ready to come back to the negotiating table and the two countries will start talking very seriously.Politicsread more
The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
China's state media is putting up a brave front as the country's trade war with the U.S. escalated sharply over the weekend.China Economyread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
U.S. stock futures surged Monday morning after President Trump said China is ready to come back to the negotiating table following a phone call Sunday and the two countries...Marketsread more
As Washington and Beijing continue to up the ante in their protracted trade fight, the potential of a recession in the U.S. is now "the biggest concern," according to Standard...US Economyread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Private company Peloton hit the fitness industry by storm in 2012 with its unique niche as a purveyor of stationary at-home bikes. It streams 12 hours of live cycling classes a day, and connects riders with more than 4,000 on-demand classes.
Just five years later, the company now has over 200,000 riders around the world, and zero competition.
However, co-founder and CEO John Foley told "Mad Money " host Jim Cramer that he expects the competition to come rolling in. The term "peloton" refers to a group of cyclists that ride closely together to save energy.
"Right now there is no competition. Peloton is the only game in town. But because it is so good, because it is so coveted, because the consumers love it, we expect competition to come from all angles," Foley said.
Foley started as an engineer for Mars in 1990 and later held positions as the CEO of Evite.com, co-founder and CEO of Pronto.com and President of BarnesandNoble.com.
He said he was inspired to create Peloton after he and his wife became addicted to instructor led group fitness classes. However, with kids and a busy career, time to go to those classes became limited.
Watch the full interview here:
Instead, he and his team built a technology enabled platform that allowed users to consume the content on their own schedule and location. The key to its business model is that Peloton does not make a lot of money on the bikes that it sells. Instead, the company makes its money from the $39 a month subscription fee.
"We are not going to be a stationary bike company. We are going to be a disruptive company," Foley said.
Cramer is always pointing to the stay-at-home economy as a theme built to last. This refers to the shift seen in the market, where stocks that cater to people at home are the ones that succeed, such as Netflix and Amazon.
He attributed its success to tapping both the stay-at-home economy with the trend of healthy living.
And while some may fear competition stemming from a SoulCycle or Flywheel, Foley said it is technology that distinguishes it away from these popular cycling studios.
"We are a very, very hardcore technology company. We make a tablet computer better than Apple … We are as hardcore of a tech shop as anything in New York City right now, so if SoulCycle or Flywheel were to try and reinvent themselves as somebody who can compete with software engineers at Google, than maybe they can come after us, " Foley said.
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