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  "documentTitle": "Peloton Interactive (PTON)",
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  "authorName": "David Einhorn",
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  "presentationDate": "2024-10-23 00:00:00",
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      "text": "Facing bankruptcy can force change. Peloton has started to right-size and cash burn has stopped.",
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      "text": "18.3 mph, 75 rpm, 192 watts, 31/35/45 resistance, 66 kj, 83 kcal",
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      "text": "Why do we like Peloton now? We had seen years ago the bubble stock of a company with slowing growth, too much debt and a crazy cost structure. Facing bankruptcy can force change. Peloton has started to right-size and cash burn has stopped. It refinanced its debt to push out maturities. And with a loyal customer base that pays $44 per month, it’s a valuable subscription business.",
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      "text": "Why now?",
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