This is a pretty typical deck for an activist investor where they cherry pick all kinds of problems from a high growth company and make them look incompetent. If Peloton had kept its growth curve, we would all be taking about how amazing John Foley was as a leader in building the Apple of fitness or something.

But it goes without saying that Peloton did not maintain its growth curve, so a reckoning is due. But WHY did it not maintain the curve? You won't really find that answer in this deck.

Instead, the deck has an agenda: convince the shareholders to force the company to sell. Presumably Blackwells bought a lot of shares recently and would see a nice return if someone bought Peloton at a premium of the current price. Heck, their shares are already up just based on the management changes.

So all in all, I'm going to be contrarian and disagree that this is a good deck. It's good for a single agenda, and it's good if you share that agenda. But it's not good if you want to understand how Peloton really got into this mess or how they could have actually avoided it. Those insights would be far more interesting for figuring out whether Peloton has a future alone or should sell.