5 LOSS OF CREDIBILITY: PATTERN OF PROMOTIONAL PUFFERY “You know, this thing, I see clear as day, it's going to be one of the few trillion-dollar companies…I don't see any other way that we're not worth some staggering valuation”¹ “We have built a team that I believe is ready to run a $500 billion company. Pick a number. A FAANG-style leadership team”² Peloton declined to comment on Foley’s puzzling statement, or his definition of “weirdly,” citing quiet period restrictions leading up to the company’s IPO. The company said on Tuesday that it plans to list shares “I see a couple hundred million people on the Nasdaq exchange under the ticker symbol “PTON.” on the Peloton platform in 15 years.”² 1. Source: Peloton CEO John Foley: We’re ‘Weirdly Profitable’ For A Growing, Young Company | CNBC, May 23, 2018: https://www.youtube.com/watch?v=kAdp0R8B_rU 39 2. Source: Time Magazine interview, May 26, 2020: https://time.com/5839552/peloton-ceo-john-foley/.