David Rosenthal: belief

Transcript context

…Fascinating. Listeners, as you can tell, we're spending a lot of time here on Barry in part because I think it's really important to know, as we think about the future of Peloton, what is his MO, who is this guy, and to the extent where you're excited about the future of the company, why and what's the track record of this person? What's he likely to do when he comes in? Of course, he has an amazing way of instilling confidence. He has a way with words and especially a way with words to investors to bring a sense of calm. I think there's nothing more necessary for Peloton than that right now. I think the other thing, that's one half of the magic of Barry McCarthy. To the extent, he has magic, which I believe he does. I think the other half is what he learns from this Netflix experience and frankly, going all the way back to Music Choice before that, and then compounds with Spotify that we'll get into in a sec, which he is probably the number one world expert in managing subscription businesses. He helped architect the OG internet subscription business of Netflix, and then again, go back and listen to our episodes. So much of what he was doing during those wartime years was modeling out in incredibly precise detail, the economics of not only what Netflix's subscription business was, but Blockbusters and what Amazon could do. They had to make decisions with the whole company on the line about how low they were going to cut prices and how long they were going to hold them low to fight Blockbuster and Amazon. They had to understand the financing ability of those two other companies in addition to their own and their access to capital for how they were going to win that war. If there are other people in the world who have done this to the degree that he has, they're few and far between. He is in the dictionary under the definition of strategic finance.…

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