WEBVTT	#Elemental Media Engine(TM) 2.17.0.0

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>>>

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>>> WELCOME

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>>> WELCOME BACK

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>>> WELCOME BACK TO

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>>> WELCOME BACK TO "SQUAWK

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>>> WELCOME BACK TO "SQUAWK
BOX.

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BOX.

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BOX.
THIS

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BOX.
THIS MORNING

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BOX.
THIS MORNING PELOTON

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BOX.
THIS MORNING PELOTON STOCK

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BOX.
THIS MORNING PELOTON STOCK HAS

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THIS MORNING PELOTON STOCK HAS

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THIS MORNING PELOTON STOCK HAS
LOST

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THIS MORNING PELOTON STOCK HAS
LOST MORE

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THIS MORNING PELOTON STOCK HAS
LOST MORE THAN

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THIS MORNING PELOTON STOCK HAS
LOST MORE THAN THREE

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THIS MORNING PELOTON STOCK HAS
LOST MORE THAN THREE QUARTERS

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THIS MORNING PELOTON STOCK HAS
LOST MORE THAN THREE QUARTERS OF

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LOST MORE THAN THREE QUARTERS OF

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LOST MORE THAN THREE QUARTERS OF
ITS

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LOST MORE THAN THREE QUARTERS OF
ITS VALUE

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LOST MORE THAN THREE QUARTERS OF
ITS VALUE SINCE

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LOST MORE THAN THREE QUARTERS OF
ITS VALUE SINCE THE

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LOST MORE THAN THREE QUARTERS OF
ITS VALUE SINCE THE HIGHS

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LOST MORE THAN THREE QUARTERS OF
ITS VALUE SINCE THE HIGHS OF

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ITS VALUE SINCE THE HIGHS OF

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ITS VALUE SINCE THE HIGHS OF
LAST

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ITS VALUE SINCE THE HIGHS OF
LAST JANUARY,

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ITS VALUE SINCE THE HIGHS OF
LAST JANUARY, AND

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ITS VALUE SINCE THE HIGHS OF
LAST JANUARY, AND NEW

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ITS VALUE SINCE THE HIGHS OF
LAST JANUARY, AND NEW CEO

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ITS VALUE SINCE THE HIGHS OF
LAST JANUARY, AND NEW CEO HAS

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LAST JANUARY, AND NEW CEO HAS

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LAST JANUARY, AND NEW CEO HAS
ANNOUNCED

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LAST JANUARY, AND NEW CEO HAS
ANNOUNCED LAYOFFS

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LAST JANUARY, AND NEW CEO HAS
ANNOUNCED LAYOFFS AS

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LAST JANUARY, AND NEW CEO HAS
ANNOUNCED LAYOFFS AS HE

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LAST JANUARY, AND NEW CEO HAS
ANNOUNCED LAYOFFS AS HE GEARS

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LAST JANUARY, AND NEW CEO HAS
ANNOUNCED LAYOFFS AS HE GEARS UP

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ANNOUNCED LAYOFFS AS HE GEARS UP

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ANNOUNCED LAYOFFS AS HE GEARS UP
FOR

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ANNOUNCED LAYOFFS AS HE GEARS UP
FOR A

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ANNOUNCED LAYOFFS AS HE GEARS UP
FOR A TURN

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ANNOUNCED LAYOFFS AS HE GEARS UP
FOR A TURN AROUND.

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FOR A TURN AROUND.

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FOR A TURN AROUND.
BUT

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FOR A TURN AROUND.
BUT IS

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FOR A TURN AROUND.
BUT IS PELOTON

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FOR A TURN AROUND.
BUT IS PELOTON SALVAGEABLE

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BUT IS PELOTON SALVAGEABLE

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BUT IS PELOTON SALVAGEABLE
THAT

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BUT IS PELOTON SALVAGEABLE
THAT IS

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BUT IS PELOTON SALVAGEABLE
THAT IS THE

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BUT IS PELOTON SALVAGEABLE
THAT IS THE QUESTION

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BUT IS PELOTON SALVAGEABLE
THAT IS THE QUESTION OF

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BUT IS PELOTON SALVAGEABLE
THAT IS THE QUESTION OF THE

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THAT IS THE QUESTION OF THE

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THAT IS THE QUESTION OF THE
MORNING.

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MORNING.

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MORNING.
WHAT

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MORNING.
WHAT DO

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MORNING.
WHAT DO YOU

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MORNING.
WHAT DO YOU THINK,

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MORNING.
WHAT DO YOU THINK, JOHN?

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WHAT DO YOU THINK, JOHN?

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WHAT DO YOU THINK, JOHN?
>>

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WHAT DO YOU THINK, JOHN?
>> OF

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WHAT DO YOU THINK, JOHN?
>> OF COURSE

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WHAT DO YOU THINK, JOHN?
>> OF COURSE IT'S

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WHAT DO YOU THINK, JOHN?
>> OF COURSE IT'S SALVAGEABLE.

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>> OF COURSE IT'S SALVAGEABLE.

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>> OF COURSE IT'S SALVAGEABLE.
PELOTON

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>> OF COURSE IT'S SALVAGEABLE.
PELOTON MADE

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>> OF COURSE IT'S SALVAGEABLE.
PELOTON MADE A

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>> OF COURSE IT'S SALVAGEABLE.
PELOTON MADE A BIG

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>> OF COURSE IT'S SALVAGEABLE.
PELOTON MADE A BIG MISTAKE

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>> OF COURSE IT'S SALVAGEABLE.
PELOTON MADE A BIG MISTAKE AND

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PELOTON MADE A BIG MISTAKE AND

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PELOTON MADE A BIG MISTAKE AND
MISJUDGED

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PELOTON MADE A BIG MISTAKE AND
MISJUDGED DEMAND

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MISJUDGED DEMAND

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MISJUDGED DEMAND
IT'S

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MISJUDGED DEMAND
IT'S GOT

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MISJUDGED DEMAND
IT'S GOT BOTH

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MISJUDGED DEMAND
IT'S GOT BOTH PREMIUM

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MISJUDGED DEMAND
IT'S GOT BOTH PREMIUM HARDWARE

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IT'S GOT BOTH PREMIUM HARDWARE

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IT'S GOT BOTH PREMIUM HARDWARE
PRODUCTS

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IT'S GOT BOTH PREMIUM HARDWARE
PRODUCTS THAT

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IT'S GOT BOTH PREMIUM HARDWARE
PRODUCTS THAT PEOPLE

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IT'S GOT BOTH PREMIUM HARDWARE
PRODUCTS THAT PEOPLE ARE

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IT'S GOT BOTH PREMIUM HARDWARE
PRODUCTS THAT PEOPLE ARE WILLING

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PRODUCTS THAT PEOPLE ARE WILLING

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PRODUCTS THAT PEOPLE ARE WILLING
TO

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PRODUCTS THAT PEOPLE ARE WILLING
TO PAY

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PRODUCTS THAT PEOPLE ARE WILLING
TO PAY MORE

00:00:35.969 --> 00:00:36.069
PRODUCTS THAT PEOPLE ARE WILLING
TO PAY MORE THAN

00:00:36.069 --> 00:00:36.169
PRODUCTS THAT PEOPLE ARE WILLING
TO PAY MORE THAN $1,000

00:00:36.169 --> 00:00:36.403
PRODUCTS THAT PEOPLE ARE WILLING
TO PAY MORE THAN $1,000 EACH

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PRODUCTS THAT PEOPLE ARE WILLING
TO PAY MORE THAN $1,000 EACH FOR

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TO PAY MORE THAN $1,000 EACH FOR

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TO PAY MORE THAN $1,000 EACH FOR
AND

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TO PAY MORE THAN $1,000 EACH FOR
AND A

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TO PAY MORE THAN $1,000 EACH FOR
AND A PREMIUM

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TO PAY MORE THAN $1,000 EACH FOR
AND A PREMIUM WITH

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TO PAY MORE THAN $1,000 EACH FOR
AND A PREMIUM WITH FITNESS

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AND A PREMIUM WITH FITNESS

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AND A PREMIUM WITH FITNESS
INSTRUCTORS.

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INSTRUCTORS.

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INSTRUCTORS.
THE

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INSTRUCTORS.
THE NEW

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INSTRUCTORS.
THE NEW CEO

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INSTRUCTORS.
THE NEW CEO TOOK

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INSTRUCTORS.
THE NEW CEO TOOK A

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INSTRUCTORS.
THE NEW CEO TOOK A TOUGH

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INSTRUCTORS.
THE NEW CEO TOOK A TOUGH STEP

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THE NEW CEO TOOK A TOUGH STEP

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THE NEW CEO TOOK A TOUGH STEP
TOWARD

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THE NEW CEO TOOK A TOUGH STEP
TOWARD FIXING

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THE NEW CEO TOOK A TOUGH STEP
TOWARD FIXING THEM

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TOWARD FIXING THEM

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TOWARD FIXING THEM
GROWTH

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TOWARD FIXING THEM
GROWTH STOCKS

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TOWARD FIXING THEM
GROWTH STOCKS THROWING

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TOWARD FIXING THEM
GROWTH STOCKS THROWING THE

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TOWARD FIXING THEM
GROWTH STOCKS THROWING THE BABY

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GROWTH STOCKS THROWING THE BABY

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GROWTH STOCKS THROWING THE BABY
OUT

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GROWTH STOCKS THROWING THE BABY
OUT WITH

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GROWTH STOCKS THROWING THE BABY
OUT WITH THE

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GROWTH STOCKS THROWING THE BABY
OUT WITH THE BATHWATER,

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GROWTH STOCKS THROWING THE BABY
OUT WITH THE BATHWATER, JUST

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OUT WITH THE BATHWATER, JUST

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OUT WITH THE BATHWATER, JUST
BECAUSE

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OUT WITH THE BATHWATER, JUST
BECAUSE PELOTON

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OUT WITH THE BATHWATER, JUST
BECAUSE PELOTON HAS

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OUT WITH THE BATHWATER, JUST
BECAUSE PELOTON HAS MAJOR

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BECAUSE PELOTON HAS MAJOR

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BECAUSE PELOTON HAS MAJOR
PROBLEMS

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BECAUSE PELOTON HAS MAJOR
PROBLEMS DOESN'T

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BECAUSE PELOTON HAS MAJOR
PROBLEMS DOESN'T MEAN

00:00:55.722 --> 00:00:56.356
BECAUSE PELOTON HAS MAJOR
PROBLEMS DOESN'T MEAN IT'S

00:00:56.356 --> 00:00:56.389
BECAUSE PELOTON HAS MAJOR
PROBLEMS DOESN'T MEAN IT'S A

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PROBLEMS DOESN'T MEAN IT'S A

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PROBLEMS DOESN'T MEAN IT'S A
LOST

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PROBLEMS DOESN'T MEAN IT'S A
LOST CAUSE

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LOST CAUSE

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LOST CAUSE
FORTUNATELY

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LOST CAUSE
FORTUNATELY THE

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LOST CAUSE
FORTUNATELY THE COMPANY

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LOST CAUSE
FORTUNATELY THE COMPANY IS

00:00:59.025 --> 00:00:59.059
LOST CAUSE
FORTUNATELY THE COMPANY IS NOT

00:00:59.059 --> 00:00:59.225
FORTUNATELY THE COMPANY IS NOT

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FORTUNATELY THE COMPANY IS NOT
RESTING

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FORTUNATELY THE COMPANY IS NOT
RESTING ON

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FORTUNATELY THE COMPANY IS NOT
RESTING ON ITS

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FORTUNATELY THE COMPANY IS NOT
RESTING ON ITS LAURELS

00:01:00.160 --> 00:01:00.427
RESTING ON ITS LAURELS

00:01:00.427 --> 00:01:01.861
RESTING ON ITS LAURELS
IT'S

00:01:01.861 --> 00:01:02.195
RESTING ON ITS LAURELS
IT'S GOT

00:01:02.195 --> 00:01:02.629
RESTING ON ITS LAURELS
IT'S GOT NEW

00:01:02.629 --> 00:01:04.330
RESTING ON ITS LAURELS
IT'S GOT NEW PRODUCT

00:01:04.330 --> 00:01:04.564
RESTING ON ITS LAURELS
IT'S GOT NEW PRODUCT COMING

00:01:04.564 --> 00:01:04.731
RESTING ON ITS LAURELS
IT'S GOT NEW PRODUCT COMING OUT

00:01:04.731 --> 00:01:04.831
IT'S GOT NEW PRODUCT COMING OUT

00:01:04.831 --> 00:01:05.131
IT'S GOT NEW PRODUCT COMING OUT
FOR

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IT'S GOT NEW PRODUCT COMING OUT
FOR STRENGTH

00:01:05.465 --> 00:01:05.665
IT'S GOT NEW PRODUCT COMING OUT
FOR STRENGTH TRADING

00:01:05.665 --> 00:01:05.799
IT'S GOT NEW PRODUCT COMING OUT
FOR STRENGTH TRADING AND

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IT'S GOT NEW PRODUCT COMING OUT
FOR STRENGTH TRADING AND THERE

00:01:05.899 --> 00:01:06.299
FOR STRENGTH TRADING AND THERE

00:01:06.299 --> 00:01:07.067
FOR STRENGTH TRADING AND THERE
ARE

00:01:07.067 --> 00:01:07.967
FOR STRENGTH TRADING AND THERE
ARE NO

00:01:07.967 --> 00:01:08.368
FOR STRENGTH TRADING AND THERE
ARE NO SOME

00:01:08.368 --> 00:01:08.835
FOR STRENGTH TRADING AND THERE
ARE NO SOME NO-BRAINER

00:01:08.835 --> 00:01:09.002
FOR STRENGTH TRADING AND THERE
ARE NO SOME NO-BRAINER THINGS

00:01:09.002 --> 00:01:11.404
ARE NO SOME NO-BRAINER THINGS

00:01:11.404 --> 00:01:12.605
ARE NO SOME NO-BRAINER THINGS
PELOTON

00:01:12.605 --> 00:01:12.972
ARE NO SOME NO-BRAINER THINGS
PELOTON SHOULD

00:01:12.972 --> 00:01:13.006
ARE NO SOME NO-BRAINER THINGS
PELOTON SHOULD DO.

00:01:13.006 --> 00:01:13.173
PELOTON SHOULD DO.

00:01:13.173 --> 00:01:13.339
PELOTON SHOULD DO.
INSTEAD

00:01:13.339 --> 00:01:13.540
PELOTON SHOULD DO.
INSTEAD OF

00:01:13.540 --> 00:01:13.673
PELOTON SHOULD DO.
INSTEAD OF POSITIONING

00:01:13.673 --> 00:01:13.907
PELOTON SHOULD DO.
INSTEAD OF POSITIONING THE

00:01:13.907 --> 00:01:14.074
PELOTON SHOULD DO.
INSTEAD OF POSITIONING THE BIKE

00:01:14.074 --> 00:01:14.274
INSTEAD OF POSITIONING THE BIKE

00:01:14.274 --> 00:01:14.374
INSTEAD OF POSITIONING THE BIKE
AND

00:01:14.374 --> 00:01:14.774
INSTEAD OF POSITIONING THE BIKE
AND TREAD

00:01:14.774 --> 00:01:16.876
INSTEAD OF POSITIONING THE BIKE
AND TREAD AS

00:01:16.876 --> 00:01:17.143
INSTEAD OF POSITIONING THE BIKE
AND TREAD AS AN

00:01:17.143 --> 00:01:17.510
INSTEAD OF POSITIONING THE BIKE
AND TREAD AS AN ALTERNATIVE

00:01:17.510 --> 00:01:17.544
INSTEAD OF POSITIONING THE BIKE
AND TREAD AS AN ALTERNATIVE TO

00:01:17.544 --> 00:01:20.580
AND TREAD AS AN ALTERNATIVE TO

00:01:20.580 --> 00:01:20.780
AND TREAD AS AN ALTERNATIVE TO
JIM

00:01:20.780 --> 00:01:20.847
AND TREAD AS AN ALTERNATIVE TO
JIM MEMBERSHIP,

00:01:20.847 --> 00:01:20.980
AND TREAD AS AN ALTERNATIVE TO
JIM MEMBERSHIP, SO

00:01:20.980 --> 00:01:21.014
AND TREAD AS AN ALTERNATIVE TO
JIM MEMBERSHIP, SO PELOTON

00:01:21.014 --> 00:01:21.181
JIM MEMBERSHIP, SO PELOTON

00:01:21.181 --> 00:01:21.781
JIM MEMBERSHIP, SO PELOTON
MEMBERS

00:01:21.781 --> 00:01:24.384
JIM MEMBERSHIP, SO PELOTON
MEMBERS GET

00:01:24.384 --> 00:01:24.517
JIM MEMBERSHIP, SO PELOTON
MEMBERS GET SPECIAL

00:01:24.517 --> 00:01:24.584
JIM MEMBERSHIP, SO PELOTON
MEMBERS GET SPECIAL ACCESS,

00:01:24.584 --> 00:01:24.617
JIM MEMBERSHIP, SO PELOTON
MEMBERS GET SPECIAL ACCESS, SO

00:01:24.617 --> 00:01:24.751
MEMBERS GET SPECIAL ACCESS, SO

00:01:24.751 --> 00:01:24.784
MEMBERS GET SPECIAL ACCESS, SO
THIS

00:01:24.784 --> 00:01:24.818
MEMBERS GET SPECIAL ACCESS, SO
THIS IS

00:01:24.818 --> 00:01:24.951
MEMBERS GET SPECIAL ACCESS, SO
THIS IS A

00:01:24.951 --> 00:01:25.085
MEMBERS GET SPECIAL ACCESS, SO
THIS IS A SETBACK

00:01:25.085 --> 00:01:27.020
MEMBERS GET SPECIAL ACCESS, SO
THIS IS A SETBACK NOT

00:01:27.020 --> 00:01:27.053
MEMBERS GET SPECIAL ACCESS, SO
THIS IS A SETBACK NOT AN

00:01:27.053 --> 00:01:27.287
THIS IS A SETBACK NOT AN

00:01:27.287 --> 00:01:27.320
THIS IS A SETBACK NOT AN
IMPLOSION.

00:01:27.320 --> 00:01:27.420
IMPLOSION.

00:01:27.420 --> 00:01:28.254
IMPLOSION.
>>

00:01:28.254 --> 00:01:28.688
IMPLOSION.
>> A

00:01:28.688 --> 00:01:28.721
IMPLOSION.
>> A SETBACK

00:01:28.721 --> 00:01:28.855
>> A SETBACK

00:01:28.855 --> 00:01:28.955
>> A SETBACK
OKAY,

00:01:28.955 --> 00:01:29.456
>> A SETBACK
OKAY, THOSE

00:01:29.456 --> 00:01:29.589
>> A SETBACK
OKAY, THOSE RESULTS

00:01:29.589 --> 00:01:29.856
>> A SETBACK
OKAY, THOSE RESULTS AS

00:01:29.856 --> 00:01:30.290
>> A SETBACK
OKAY, THOSE RESULTS AS YOU

00:01:30.290 --> 00:01:30.457
>> A SETBACK
OKAY, THOSE RESULTS AS YOU KNOW

00:01:30.457 --> 00:01:30.623
OKAY, THOSE RESULTS AS YOU KNOW

00:01:30.623 --> 00:01:30.790
OKAY, THOSE RESULTS AS YOU KNOW
SHOWED

00:01:30.790 --> 00:01:31.491
OKAY, THOSE RESULTS AS YOU KNOW
SHOWED REAL

00:01:31.491 --> 00:01:31.724
OKAY, THOSE RESULTS AS YOU KNOW
SHOWED REAL PROBLEMS

00:01:31.724 --> 00:01:31.858
OKAY, THOSE RESULTS AS YOU KNOW
SHOWED REAL PROBLEMS WITH

00:01:31.858 --> 00:01:32.025
OKAY, THOSE RESULTS AS YOU KNOW
SHOWED REAL PROBLEMS WITH THE

00:01:32.025 --> 00:01:32.358
SHOWED REAL PROBLEMS WITH THE

00:01:32.358 --> 00:01:32.892
SHOWED REAL PROBLEMS WITH THE
DEMAND

00:01:32.892 --> 00:01:33.193
SHOWED REAL PROBLEMS WITH THE
DEMAND PICTURE,

00:01:33.193 --> 00:01:33.293
SHOWED REAL PROBLEMS WITH THE
DEMAND PICTURE, RIGHT?

00:01:33.293 --> 00:01:33.393
DEMAND PICTURE, RIGHT?

00:01:33.393 --> 00:01:34.394
DEMAND PICTURE, RIGHT?
>>

00:01:34.394 --> 00:01:34.727
DEMAND PICTURE, RIGHT?
>> WELL,

00:01:34.727 --> 00:01:35.161
DEMAND PICTURE, RIGHT?
>> WELL, ANDREW,

00:01:35.161 --> 00:01:35.462
DEMAND PICTURE, RIGHT?
>> WELL, ANDREW, ON

00:01:35.462 --> 00:01:35.695
DEMAND PICTURE, RIGHT?
>> WELL, ANDREW, ON THE

00:01:35.695 --> 00:01:35.862
DEMAND PICTURE, RIGHT?
>> WELL, ANDREW, ON THE OTHER

00:01:35.862 --> 00:01:35.995
>> WELL, ANDREW, ON THE OTHER

00:01:35.995 --> 00:01:36.296
>> WELL, ANDREW, ON THE OTHER
HAND

00:01:36.296 --> 00:01:36.429
>> WELL, ANDREW, ON THE OTHER
HAND MAYBE

00:01:36.429 --> 00:01:37.764
>> WELL, ANDREW, ON THE OTHER
HAND MAYBE IT'S

00:01:37.764 --> 00:01:38.064
>> WELL, ANDREW, ON THE OTHER
HAND MAYBE IT'S NOT

00:01:38.064 --> 00:01:38.098
>> WELL, ANDREW, ON THE OTHER
HAND MAYBE IT'S NOT SALVAGEABLE.

00:01:38.098 --> 00:01:38.264
HAND MAYBE IT'S NOT SALVAGEABLE.

00:01:38.264 --> 00:01:38.398
HAND MAYBE IT'S NOT SALVAGEABLE.
FITNESS

00:01:38.398 --> 00:01:38.798
HAND MAYBE IT'S NOT SALVAGEABLE.
FITNESS PRODUCT

00:01:38.798 --> 00:01:39.065
HAND MAYBE IT'S NOT SALVAGEABLE.
FITNESS PRODUCT AND

00:01:39.065 --> 00:01:39.365
HAND MAYBE IT'S NOT SALVAGEABLE.
FITNESS PRODUCT AND SERVICES

00:01:39.365 --> 00:01:39.399
HAND MAYBE IT'S NOT SALVAGEABLE.
FITNESS PRODUCT AND SERVICES RUN

00:01:39.399 --> 00:01:39.499
FITNESS PRODUCT AND SERVICES RUN

00:01:39.499 --> 00:01:39.566
FITNESS PRODUCT AND SERVICES RUN
HOT

00:01:39.566 --> 00:01:40.867
FITNESS PRODUCT AND SERVICES RUN
HOT AND

00:01:40.867 --> 00:01:41.101
FITNESS PRODUCT AND SERVICES RUN
HOT AND COLD,

00:01:41.101 --> 00:01:41.134
FITNESS PRODUCT AND SERVICES RUN
HOT AND COLD, RIGHT?

00:01:41.134 --> 00:01:41.334
HOT AND COLD, RIGHT?

00:01:41.334 --> 00:01:41.401
HOT AND COLD, RIGHT?
EVERYBODY

00:01:41.401 --> 00:01:41.668
HOT AND COLD, RIGHT?
EVERYBODY IS

00:01:41.668 --> 00:01:41.835
HOT AND COLD, RIGHT?
EVERYBODY IS IN

00:01:41.835 --> 00:01:42.068
HOT AND COLD, RIGHT?
EVERYBODY IS IN THE

00:01:42.068 --> 00:01:42.602
HOT AND COLD, RIGHT?
EVERYBODY IS IN THE GYM

00:01:42.602 --> 00:01:42.635
HOT AND COLD, RIGHT?
EVERYBODY IS IN THE GYM IN

00:01:42.635 --> 00:01:42.802
EVERYBODY IS IN THE GYM IN

00:01:42.802 --> 00:01:42.869
EVERYBODY IS IN THE GYM IN
JANUARY

00:01:42.869 --> 00:01:43.503
EVERYBODY IS IN THE GYM IN
JANUARY BUT

00:01:43.503 --> 00:01:44.003
EVERYBODY IS IN THE GYM IN
JANUARY BUT AFTER

00:01:44.003 --> 00:01:44.104
EVERYBODY IS IN THE GYM IN
JANUARY BUT AFTER VALENTINE'S

00:01:44.104 --> 00:01:44.237
JANUARY BUT AFTER VALENTINE'S

00:01:44.237 --> 00:01:44.771
JANUARY BUT AFTER VALENTINE'S
DAY

00:01:44.771 --> 00:01:45.338
JANUARY BUT AFTER VALENTINE'S
DAY IT

00:01:45.338 --> 00:01:45.638
JANUARY BUT AFTER VALENTINE'S
DAY IT THINS

00:01:45.638 --> 00:01:45.672
JANUARY BUT AFTER VALENTINE'S
DAY IT THINS OUT

00:01:45.672 --> 00:01:46.172
DAY IT THINS OUT

00:01:46.172 --> 00:01:46.372
DAY IT THINS OUT
EXERCISE

00:01:46.372 --> 00:01:46.573
DAY IT THINS OUT
EXERCISE BIKES

00:01:46.573 --> 00:01:46.739
DAY IT THINS OUT
EXERCISE BIKES TURN

00:01:46.739 --> 00:01:47.540
DAY IT THINS OUT
EXERCISE BIKES TURN TO

00:01:47.540 --> 00:01:47.574
DAY IT THINS OUT
EXERCISE BIKES TURN TO CLOTHES

00:01:47.574 --> 00:01:47.774
EXERCISE BIKES TURN TO CLOTHES

00:01:47.774 --> 00:01:47.807
EXERCISE BIKES TURN TO CLOTHES
HANGERS.

00:01:47.807 --> 00:01:47.974
HANGERS.

00:01:47.974 --> 00:01:48.074
HANGERS.
THAT'S

00:01:48.074 --> 00:01:49.809
HANGERS.
THAT'S WHAT'S

00:01:49.809 --> 00:01:49.943
HANGERS.
THAT'S WHAT'S HAPPENING

00:01:49.943 --> 00:01:50.009
HANGERS.
THAT'S WHAT'S HAPPENING WITH

00:01:50.009 --> 00:01:50.210
THAT'S WHAT'S HAPPENING WITH

00:01:50.210 --> 00:01:50.243
THAT'S WHAT'S HAPPENING WITH
PELOTON.

00:01:50.243 --> 00:01:50.343
PELOTON.

00:01:50.343 --> 00:01:50.443
PELOTON.
IT

00:01:50.443 --> 00:01:50.543
PELOTON.
IT SEEMED

00:01:50.543 --> 00:01:50.610
PELOTON.
IT SEEMED LIKE

00:01:50.610 --> 00:01:50.944
PELOTON.
IT SEEMED LIKE THE

00:01:50.944 --> 00:01:50.977
PELOTON.
IT SEEMED LIKE THE PERFECT

00:01:50.977 --> 00:01:51.177
IT SEEMED LIKE THE PERFECT

00:01:51.177 --> 00:01:51.778
IT SEEMED LIKE THE PERFECT
SOLUTION

00:01:51.778 --> 00:01:51.945
IT SEEMED LIKE THE PERFECT
SOLUTION WHEN

00:01:51.945 --> 00:01:52.112
IT SEEMED LIKE THE PERFECT
SOLUTION WHEN EVERYONE

00:01:52.112 --> 00:01:53.246
IT SEEMED LIKE THE PERFECT
SOLUTION WHEN EVERYONE WAS

00:01:53.246 --> 00:01:53.279
IT SEEMED LIKE THE PERFECT
SOLUTION WHEN EVERYONE WAS STUCK

00:01:53.279 --> 00:01:53.379
SOLUTION WHEN EVERYONE WAS STUCK

00:01:53.379 --> 00:01:53.646
SOLUTION WHEN EVERYONE WAS STUCK
AT

00:01:53.646 --> 00:01:53.680
SOLUTION WHEN EVERYONE WAS STUCK
AT HOME.

00:01:53.680 --> 00:01:53.780
AT HOME.

00:01:53.780 --> 00:01:53.847
AT HOME.
AT

00:01:53.847 --> 00:01:54.114
AT HOME.
AT THE

00:01:54.114 --> 00:01:54.180
AT HOME.
AT THE HEIGHT

00:01:54.180 --> 00:01:54.681
AT HOME.
AT THE HEIGHT OF

00:01:54.681 --> 00:01:55.782
AT HOME.
AT THE HEIGHT OF THE

00:01:55.782 --> 00:01:55.915
AT HOME.
AT THE HEIGHT OF THE PANDEMIC

00:01:55.915 --> 00:01:55.949
AT HOME.
AT THE HEIGHT OF THE PANDEMIC IN

00:01:55.949 --> 00:01:56.082
AT THE HEIGHT OF THE PANDEMIC IN

00:01:56.082 --> 00:01:56.149
AT THE HEIGHT OF THE PANDEMIC IN
2020,

00:01:56.149 --> 00:01:56.249
AT THE HEIGHT OF THE PANDEMIC IN
2020, THE

00:01:56.249 --> 00:01:56.416
AT THE HEIGHT OF THE PANDEMIC IN
2020, THE FALL,

00:01:56.416 --> 00:01:56.549
AT THE HEIGHT OF THE PANDEMIC IN
2020, THE FALL, THEY

00:01:56.549 --> 00:01:56.816
AT THE HEIGHT OF THE PANDEMIC IN
2020, THE FALL, THEY DROPPED

00:01:56.816 --> 00:01:56.850
AT THE HEIGHT OF THE PANDEMIC IN
2020, THE FALL, THEY DROPPED THE

00:01:56.850 --> 00:01:57.183
2020, THE FALL, THEY DROPPED THE

00:01:57.183 --> 00:01:57.617
2020, THE FALL, THEY DROPPED THE
PRICE

00:01:57.617 --> 00:01:58.751
2020, THE FALL, THEY DROPPED THE
PRICE OF

00:01:58.751 --> 00:01:59.686
2020, THE FALL, THEY DROPPED THE
PRICE OF THE

00:01:59.686 --> 00:02:00.787
2020, THE FALL, THEY DROPPED THE
PRICE OF THE BIKE

00:02:00.787 --> 00:02:02.989
2020, THE FALL, THEY DROPPED THE
PRICE OF THE BIKE FROM

00:02:02.989 --> 00:02:04.757
2020, THE FALL, THEY DROPPED THE
PRICE OF THE BIKE FROM 2250

00:02:04.757 --> 00:02:04.791
2020, THE FALL, THEY DROPPED THE
PRICE OF THE BIKE FROM 2250 TO

00:02:04.791 --> 00:02:04.924
PRICE OF THE BIKE FROM 2250 TO

00:02:04.924 --> 00:02:04.991
PRICE OF THE BIKE FROM 2250 TO
$1900

00:02:04.991 --> 00:02:05.091
PRICE OF THE BIKE FROM 2250 TO
$1900 AND

00:02:05.091 --> 00:02:05.325
PRICE OF THE BIKE FROM 2250 TO
$1900 AND IN

00:02:05.325 --> 00:02:05.892
PRICE OF THE BIKE FROM 2250 TO
$1900 AND IN THE

00:02:05.892 --> 00:02:06.392
PRICE OF THE BIKE FROM 2250 TO
$1900 AND IN THE LATEST

00:02:06.392 --> 00:02:06.559
PRICE OF THE BIKE FROM 2250 TO
$1900 AND IN THE LATEST QUARTER

00:02:06.559 --> 00:02:06.726
$1900 AND IN THE LATEST QUARTER

00:02:06.726 --> 00:02:08.661
$1900 AND IN THE LATEST QUARTER
PELOTON

00:02:08.661 --> 00:02:08.828
$1900 AND IN THE LATEST QUARTER
PELOTON DOUBLED

00:02:08.828 --> 00:02:08.862
$1900 AND IN THE LATEST QUARTER
PELOTON DOUBLED SPENDING

00:02:08.862 --> 00:02:08.928
$1900 AND IN THE LATEST QUARTER
PELOTON DOUBLED SPENDING ON

00:02:08.928 --> 00:02:09.062
PELOTON DOUBLED SPENDING ON

00:02:09.062 --> 00:02:09.863
PELOTON DOUBLED SPENDING ON
SALES

00:02:09.863 --> 00:02:10.230
PELOTON DOUBLED SPENDING ON
SALES AND

00:02:10.230 --> 00:02:10.997
PELOTON DOUBLED SPENDING ON
SALES AND MARKETING

00:02:10.997 --> 00:02:11.564
PELOTON DOUBLED SPENDING ON
SALES AND MARKETING AND

00:02:11.564 --> 00:02:12.265
PELOTON DOUBLED SPENDING ON
SALES AND MARKETING AND ON

00:02:12.265 --> 00:02:12.298
PELOTON DOUBLED SPENDING ON
SALES AND MARKETING AND ON RND

00:02:12.298 --> 00:02:13.900
SALES AND MARKETING AND ON RND

00:02:13.900 --> 00:02:13.967
SALES AND MARKETING AND ON RND
HERE'S

00:02:13.967 --> 00:02:14.033
SALES AND MARKETING AND ON RND
HERE'S WHY

00:02:14.033 --> 00:02:14.167
SALES AND MARKETING AND ON RND
HERE'S WHY IT'S

00:02:14.167 --> 00:02:15.301
SALES AND MARKETING AND ON RND
HERE'S WHY IT'S REALLY

00:02:15.301 --> 00:02:15.335
SALES AND MARKETING AND ON RND
HERE'S WHY IT'S REALLY NOT

00:02:15.335 --> 00:02:15.602
HERE'S WHY IT'S REALLY NOT

00:02:15.602 --> 00:02:15.635
HERE'S WHY IT'S REALLY NOT
SALVABLEAGE.

00:02:15.635 --> 00:02:16.402
SALVABLEAGE.

00:02:16.402 --> 00:02:16.703
SALVABLEAGE.
PELOTON

00:02:16.703 --> 00:02:16.870
SALVABLEAGE.
PELOTON HAS

00:02:16.870 --> 00:02:17.370
SALVABLEAGE.
PELOTON HAS BECOME

00:02:17.370 --> 00:02:18.004
SALVABLEAGE.
PELOTON HAS BECOME A

00:02:18.004 --> 00:02:18.037
SALVABLEAGE.
PELOTON HAS BECOME A CLASSICAL

00:02:18.037 --> 00:02:18.638
PELOTON HAS BECOME A CLASSICAL

00:02:18.638 --> 00:02:20.607
PELOTON HAS BECOME A CLASSICAL
HARDWARE

00:02:20.607 --> 00:02:20.807
PELOTON HAS BECOME A CLASSICAL
HARDWARE LOGISTICS

00:02:20.807 --> 00:02:20.840
PELOTON HAS BECOME A CLASSICAL
HARDWARE LOGISTICS NIGHTMARE

00:02:20.840 --> 00:02:20.974
HARDWARE LOGISTICS NIGHTMARE

00:02:20.974 --> 00:02:21.274
HARDWARE LOGISTICS NIGHTMARE
ITS

00:02:21.274 --> 00:02:21.708
HARDWARE LOGISTICS NIGHTMARE
ITS WAREHOUSING

00:02:21.708 --> 00:02:22.642
HARDWARE LOGISTICS NIGHTMARE
ITS WAREHOUSING AND

00:02:22.642 --> 00:02:22.675
HARDWARE LOGISTICS NIGHTMARE
ITS WAREHOUSING AND SHIPPING

00:02:22.675 --> 00:02:22.842
ITS WAREHOUSING AND SHIPPING

00:02:22.842 --> 00:02:23.810
ITS WAREHOUSING AND SHIPPING
PROCESS

00:02:23.810 --> 00:02:24.944
ITS WAREHOUSING AND SHIPPING
PROCESS IS

00:02:24.944 --> 00:02:25.178
ITS WAREHOUSING AND SHIPPING
PROCESS IS TOO

00:02:25.178 --> 00:02:25.211
ITS WAREHOUSING AND SHIPPING
PROCESS IS TOO INEFFICIENT

00:02:25.211 --> 00:02:25.545
PROCESS IS TOO INEFFICIENT

00:02:25.545 --> 00:02:25.745
PROCESS IS TOO INEFFICIENT
MEANWHILE

00:02:25.745 --> 00:02:26.179
PROCESS IS TOO INEFFICIENT
MEANWHILE SALES

00:02:26.179 --> 00:02:26.479
PROCESS IS TOO INEFFICIENT
MEANWHILE SALES ARE

00:02:26.479 --> 00:02:28.248
PROCESS IS TOO INEFFICIENT
MEANWHILE SALES ARE SLOWING

00:02:28.248 --> 00:02:28.414
PROCESS IS TOO INEFFICIENT
MEANWHILE SALES ARE SLOWING AND

00:02:28.414 --> 00:02:28.548
MEANWHILE SALES ARE SLOWING AND

00:02:28.548 --> 00:02:28.615
MEANWHILE SALES ARE SLOWING AND
IT'S

00:02:28.615 --> 00:02:28.781
MEANWHILE SALES ARE SLOWING AND
IT'S BEEN

00:02:28.781 --> 00:02:28.915
MEANWHILE SALES ARE SLOWING AND
IT'S BEEN DROPPING

00:02:28.915 --> 00:02:28.948
MEANWHILE SALES ARE SLOWING AND
IT'S BEEN DROPPING PRICES.

00:02:28.948 --> 00:02:29.282
IT'S BEEN DROPPING PRICES.

00:02:29.282 --> 00:02:30.917
IT'S BEEN DROPPING PRICES.
TO

00:02:30.917 --> 00:02:30.984
IT'S BEEN DROPPING PRICES.
TO FIX

00:02:30.984 --> 00:02:31.050
IT'S BEEN DROPPING PRICES.
TO FIX ALL

00:02:31.050 --> 00:02:31.117
IT'S BEEN DROPPING PRICES.
TO FIX ALL THAT

00:02:31.117 --> 00:02:31.217
IT'S BEEN DROPPING PRICES.
TO FIX ALL THAT IT

00:02:31.217 --> 00:02:31.317
IT'S BEEN DROPPING PRICES.
TO FIX ALL THAT IT SHOULD

00:02:31.317 --> 00:02:31.351
IT'S BEEN DROPPING PRICES.
TO FIX ALL THAT IT SHOULD TAKE

00:02:31.351 --> 00:02:31.451
TO FIX ALL THAT IT SHOULD TAKE

00:02:31.451 --> 00:02:33.620
TO FIX ALL THAT IT SHOULD TAKE
THE

00:02:33.620 --> 00:02:33.720
TO FIX ALL THAT IT SHOULD TAKE
THE PAINFUL

00:02:33.720 --> 00:02:34.020
TO FIX ALL THAT IT SHOULD TAKE
THE PAINFUL STEP

00:02:34.020 --> 00:02:34.220
TO FIX ALL THAT IT SHOULD TAKE
THE PAINFUL STEP OF

00:02:34.220 --> 00:02:34.420
TO FIX ALL THAT IT SHOULD TAKE
THE PAINFUL STEP OF TRYING

00:02:34.420 --> 00:02:34.954
TO FIX ALL THAT IT SHOULD TAKE
THE PAINFUL STEP OF TRYING TO

00:02:34.954 --> 00:02:35.121
THE PAINFUL STEP OF TRYING TO

00:02:35.121 --> 00:02:35.321
THE PAINFUL STEP OF TRYING TO
RETOOL

00:02:35.321 --> 00:02:37.023
THE PAINFUL STEP OF TRYING TO
RETOOL FOR

00:02:37.023 --> 00:02:37.590
THE PAINFUL STEP OF TRYING TO
RETOOL FOR MORE

00:02:37.590 --> 00:02:37.757
THE PAINFUL STEP OF TRYING TO
RETOOL FOR MORE EFFICIENT

00:02:37.757 --> 00:02:38.024
RETOOL FOR MORE EFFICIENT

00:02:38.024 --> 00:02:38.892
RETOOL FOR MORE EFFICIENT
MANUFACTURING

00:02:38.892 --> 00:02:39.159
RETOOL FOR MORE EFFICIENT
MANUFACTURING AND

00:02:39.159 --> 00:02:39.192
RETOOL FOR MORE EFFICIENT
MANUFACTURING AND DELIVERY

00:02:39.192 --> 00:02:40.493
MANUFACTURING AND DELIVERY

00:02:40.493 --> 00:02:40.793
MANUFACTURING AND DELIVERY
HIGHER

00:02:40.793 --> 00:02:40.827
MANUFACTURING AND DELIVERY
HIGHER MARGINS

00:02:40.827 --> 00:02:40.994
HIGHER MARGINS

00:02:40.994 --> 00:02:41.127
HIGHER MARGINS
INSTEAD

00:02:41.127 --> 00:02:41.594
HIGHER MARGINS
INSTEAD IT'S

00:02:41.594 --> 00:02:42.195
HIGHER MARGINS
INSTEAD IT'S LAUNCHING

00:02:42.195 --> 00:02:42.228
HIGHER MARGINS
INSTEAD IT'S LAUNCHING NEW

00:02:42.228 --> 00:02:43.930
INSTEAD IT'S LAUNCHING NEW

00:02:43.930 --> 00:02:43.963
INSTEAD IT'S LAUNCHING NEW
PRODUCTS

00:02:43.963 --> 00:02:45.131
INSTEAD IT'S LAUNCHING NEW
PRODUCTS TO

00:02:45.131 --> 00:02:45.331
INSTEAD IT'S LAUNCHING NEW
PRODUCTS TO BOOST

00:02:45.331 --> 00:02:45.365
INSTEAD IT'S LAUNCHING NEW
PRODUCTS TO BOOST REVENUE.

00:02:45.365 --> 00:02:46.399
PRODUCTS TO BOOST REVENUE.

00:02:46.399 --> 00:02:46.432
PRODUCTS TO BOOST REVENUE.
>>

00:02:46.432 --> 00:02:46.499
PRODUCTS TO BOOST REVENUE.
>> AT

00:02:46.499 --> 00:02:46.599
PRODUCTS TO BOOST REVENUE.
>> AT THE

00:02:46.599 --> 00:02:46.666
PRODUCTS TO BOOST REVENUE.
>> AT THE SAME

00:02:46.666 --> 00:02:47.066
PRODUCTS TO BOOST REVENUE.
>> AT THE SAME TIME

00:02:47.066 --> 00:02:47.233
PRODUCTS TO BOOST REVENUE.
>> AT THE SAME TIME THEY'RE

00:02:47.233 --> 00:02:47.400
>> AT THE SAME TIME THEY'RE

00:02:47.400 --> 00:02:48.234
>> AT THE SAME TIME THEY'RE
LAYING

00:02:48.234 --> 00:02:48.668
>> AT THE SAME TIME THEY'RE
LAYING OFF

00:02:48.668 --> 00:02:48.968
>> AT THE SAME TIME THEY'RE
LAYING OFF 2,800

00:02:48.968 --> 00:02:49.002
>> AT THE SAME TIME THEY'RE
LAYING OFF 2,800 EMPLOYEES

00:02:49.002 --> 00:02:49.669
LAYING OFF 2,800 EMPLOYEES

00:02:49.669 --> 00:02:50.069
LAYING OFF 2,800 EMPLOYEES
AND

00:02:50.069 --> 00:02:50.236
LAYING OFF 2,800 EMPLOYEES
AND THE

00:02:50.236 --> 00:02:50.403
LAYING OFF 2,800 EMPLOYEES
AND THE QUESTION

00:02:50.403 --> 00:02:50.470
LAYING OFF 2,800 EMPLOYEES
AND THE QUESTION IS

00:02:50.470 --> 00:02:50.637
LAYING OFF 2,800 EMPLOYEES
AND THE QUESTION IS IS

00:02:50.637 --> 00:02:51.070
LAYING OFF 2,800 EMPLOYEES
AND THE QUESTION IS IS THAT

00:02:51.070 --> 00:02:51.237
AND THE QUESTION IS IS THAT

00:02:51.237 --> 00:02:51.271
AND THE QUESTION IS IS THAT
ENOUGH

00:02:51.271 --> 00:02:51.371
ENOUGH

00:02:51.371 --> 00:02:51.771
ENOUGH
>>

00:02:51.771 --> 00:02:52.272
ENOUGH
>> WELL,

00:02:52.272 --> 00:02:52.438
ENOUGH
>> WELL, ANDREW,

00:02:52.438 --> 00:02:52.705
ENOUGH
>> WELL, ANDREW, HERE'S

00:02:52.705 --> 00:02:52.872
ENOUGH
>> WELL, ANDREW, HERE'S THE

00:02:52.872 --> 00:02:53.139
>> WELL, ANDREW, HERE'S THE

00:02:53.139 --> 00:02:53.239
>> WELL, ANDREW, HERE'S THE
TOUGH

00:02:53.239 --> 00:02:53.506
>> WELL, ANDREW, HERE'S THE
TOUGH THING

00:02:53.506 --> 00:02:54.107
>> WELL, ANDREW, HERE'S THE
TOUGH THING I

00:02:54.107 --> 00:02:54.140
>> WELL, ANDREW, HERE'S THE
TOUGH THING I REMEMBER

00:02:54.140 --> 00:02:54.741
>> WELL, ANDREW, HERE'S THE
TOUGH THING I REMEMBER 20

00:02:54.741 --> 00:02:54.908
>> WELL, ANDREW, HERE'S THE
TOUGH THING I REMEMBER 20 YEARS

00:02:54.908 --> 00:02:55.008
TOUGH THING I REMEMBER 20 YEARS

00:02:55.008 --> 00:02:55.108
TOUGH THING I REMEMBER 20 YEARS
AGO

00:02:55.108 --> 00:02:55.208
TOUGH THING I REMEMBER 20 YEARS
AGO THERE

00:02:55.208 --> 00:02:55.375
TOUGH THING I REMEMBER 20 YEARS
AGO THERE WERE

00:02:55.375 --> 00:02:55.808
TOUGH THING I REMEMBER 20 YEARS
AGO THERE WERE SO

00:02:55.808 --> 00:02:56.409
TOUGH THING I REMEMBER 20 YEARS
AGO THERE WERE SO MANY

00:02:56.409 --> 00:02:56.643
TOUGH THING I REMEMBER 20 YEARS
AGO THERE WERE SO MANY OF

00:02:56.643 --> 00:02:56.809
TOUGH THING I REMEMBER 20 YEARS
AGO THERE WERE SO MANY OF THESE

00:02:56.809 --> 00:02:56.943
AGO THERE WERE SO MANY OF THESE

00:02:56.943 --> 00:02:57.477
AGO THERE WERE SO MANY OF THESE
LIKE

00:02:57.477 --> 00:02:58.244
AGO THERE WERE SO MANY OF THESE
LIKE DEVICE

00:02:58.244 --> 00:02:58.878
AGO THERE WERE SO MANY OF THESE
LIKE DEVICE COMPANIES,

00:02:58.878 --> 00:02:58.912
AGO THERE WERE SO MANY OF THESE
LIKE DEVICE COMPANIES, PALM,

00:02:58.912 --> 00:03:00.113
LIKE DEVICE COMPANIES, PALM,

00:03:00.113 --> 00:03:00.146
LIKE DEVICE COMPANIES, PALM,
APPLE,

00:03:00.146 --> 00:03:00.280
LIKE DEVICE COMPANIES, PALM,
APPLE, ET

00:03:00.280 --> 00:03:00.346
LIKE DEVICE COMPANIES, PALM,
APPLE, ET CETERA

00:03:00.346 --> 00:03:00.813
LIKE DEVICE COMPANIES, PALM,
APPLE, ET CETERA WHO

00:03:00.813 --> 00:03:01.080
LIKE DEVICE COMPANIES, PALM,
APPLE, ET CETERA WHO WERE

00:03:01.080 --> 00:03:01.114
LIKE DEVICE COMPANIES, PALM,
APPLE, ET CETERA WHO WERE TRYING

00:03:01.114 --> 00:03:01.214
APPLE, ET CETERA WHO WERE TRYING

00:03:01.214 --> 00:03:01.347
APPLE, ET CETERA WHO WERE TRYING
TO

00:03:01.347 --> 00:03:01.915
APPLE, ET CETERA WHO WERE TRYING
TO LAUNCH

00:03:01.915 --> 00:03:02.115
APPLE, ET CETERA WHO WERE TRYING
TO LAUNCH PRODUCT

00:03:02.115 --> 00:03:02.282
APPLE, ET CETERA WHO WERE TRYING
TO LAUNCH PRODUCT AND

00:03:02.282 --> 00:03:04.417
APPLE, ET CETERA WHO WERE TRYING
TO LAUNCH PRODUCT AND THEY

00:03:04.417 --> 00:03:04.584
APPLE, ET CETERA WHO WERE TRYING
TO LAUNCH PRODUCT AND THEY KEPT

00:03:04.584 --> 00:03:04.751
TO LAUNCH PRODUCT AND THEY KEPT

00:03:04.751 --> 00:03:04.851
TO LAUNCH PRODUCT AND THEY KEPT
RUNNING

00:03:04.851 --> 00:03:04.918
TO LAUNCH PRODUCT AND THEY KEPT
RUNNING INTO

00:03:04.918 --> 00:03:06.486
TO LAUNCH PRODUCT AND THEY KEPT
RUNNING INTO THIS

00:03:06.486 --> 00:03:06.653
TO LAUNCH PRODUCT AND THEY KEPT
RUNNING INTO THIS SIMILAR

00:03:06.653 --> 00:03:06.853
RUNNING INTO THIS SIMILAR

00:03:06.853 --> 00:03:07.053
RUNNING INTO THIS SIMILAR
HARDWARE

00:03:07.053 --> 00:03:07.453
RUNNING INTO THIS SIMILAR
HARDWARE LOGISTICS

00:03:07.453 --> 00:03:07.487
RUNNING INTO THIS SIMILAR
HARDWARE LOGISTICS NIGHTMARE

00:03:07.487 --> 00:03:07.620
HARDWARE LOGISTICS NIGHTMARE

00:03:07.620 --> 00:03:07.687
HARDWARE LOGISTICS NIGHTMARE
WHERE

00:03:07.687 --> 00:03:07.887
HARDWARE LOGISTICS NIGHTMARE
WHERE IF

00:03:07.887 --> 00:03:08.054
HARDWARE LOGISTICS NIGHTMARE
WHERE IF YOU

00:03:08.054 --> 00:03:08.188
HARDWARE LOGISTICS NIGHTMARE
WHERE IF YOU GET

00:03:08.188 --> 00:03:08.488
HARDWARE LOGISTICS NIGHTMARE
WHERE IF YOU GET THE

00:03:08.488 --> 00:03:08.621
HARDWARE LOGISTICS NIGHTMARE
WHERE IF YOU GET THE COST

00:03:08.621 --> 00:03:08.788
HARDWARE LOGISTICS NIGHTMARE
WHERE IF YOU GET THE COST WRONG

00:03:08.788 --> 00:03:08.888
WHERE IF YOU GET THE COST WRONG

00:03:08.888 --> 00:03:09.055
WHERE IF YOU GET THE COST WRONG
AT

00:03:09.055 --> 00:03:09.255
WHERE IF YOU GET THE COST WRONG
AT THE

00:03:09.255 --> 00:03:09.389
WHERE IF YOU GET THE COST WRONG
AT THE BEGINNING

00:03:09.389 --> 00:03:09.889
WHERE IF YOU GET THE COST WRONG
AT THE BEGINNING THEN

00:03:09.889 --> 00:03:09.989
WHERE IF YOU GET THE COST WRONG
AT THE BEGINNING THEN IT

00:03:09.989 --> 00:03:10.156
WHERE IF YOU GET THE COST WRONG
AT THE BEGINNING THEN IT CAUSES

00:03:10.156 --> 00:03:10.256
AT THE BEGINNING THEN IT CAUSES

00:03:10.256 --> 00:03:10.490
AT THE BEGINNING THEN IT CAUSES
SO

00:03:10.490 --> 00:03:10.757
AT THE BEGINNING THEN IT CAUSES
SO MANY

00:03:10.757 --> 00:03:10.990
AT THE BEGINNING THEN IT CAUSES
SO MANY PROBLEMS

00:03:10.990 --> 00:03:11.157
AT THE BEGINNING THEN IT CAUSES
SO MANY PROBLEMS FOR

00:03:11.157 --> 00:03:12.025
AT THE BEGINNING THEN IT CAUSES
SO MANY PROBLEMS FOR SO

00:03:12.025 --> 00:03:12.058
AT THE BEGINNING THEN IT CAUSES
SO MANY PROBLEMS FOR SO MANY

00:03:12.058 --> 00:03:12.258
SO MANY PROBLEMS FOR SO MANY

00:03:12.258 --> 00:03:12.292
SO MANY PROBLEMS FOR SO MANY
QUARTERS

00:03:12.292 --> 00:03:12.458
QUARTERS

00:03:12.458 --> 00:03:12.825
QUARTERS
YOU'RE

00:03:12.825 --> 00:03:12.858
QUARTERS
YOU'RE PLAYING