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https://www.linkedin.com/jobs/view/4282362364

Can’t wait to see some sweet one-off paint jobs. And specifically Asa and Anna’s polished bikes. 🤤

This wooden berm is killing one of the most insane spot to be at a World Cup… maybe they did it on purpose to block the crowds from running into the corral at the end of the last run. The madness was always starting from behind this corner

They may have to cancel Hardline if BK can't help tow everyone over all the jumps..

Wait is he still helping people since others don’t share their lines with him?

Not sure I’ll ever finish the long blog post, so dropping a few thoughts here instead: YT did sell a majority stake to a PE firm. -Details are scarce. We don’t know the exact stake sold (just that it was over 51%), how many equity owners there really were (beyond the two founders), the deal structure, valuation, any earn-outs, if Markus retained a stake etc etc. -Without that info, blaming Markus might not be fair . Sure, flaunting wealth on Instagram is a bad look, especially during a downturn, but that’s social media for you. I’ve posted cringe stuff too...

Rob Roskopp did very, very well for himself.

I just still think, even if he 'earned every penny', the margins YT operates on and the CEO pay that would be required to fund such a lifestyle seem totally incompatible. Again, assuming these are all full purchases and not all rental/collab/project/fake bullshit to give off the appearance of extreme wealth. (Saying all this having no idea what his personal pay out would have been from PE.) Dude is living the 'fortune 500' lifestyle. Live Uncaged turned out to be about debt and spending, not riding. I guess I would need a better understanding of comparative peoples; what kinda lifestyle...

Probably one of the cooler analysis I've read on this race

Quick, finger-in-the-wind take: Timing: They sold at the absolute peak. The bike industry was booming, and the broader financial world was drunk on cheap capital. People were taking wild risks (ask me how I know). EBITDA vs Earnings: Most PE guys I know price deals off EBITDA, not net income, which makes back-of-the-napkin math tricky (because we don't have that number). If net earnings were EUR2M, I’d peg EBITDA around EUR6M, though that’d mean an ugly 8.5% margin. More likely, if they were doing 15% EBITDA margins (still conservative for D2C bikes), that’s EUR10.5M EBITDA. Apply a 10x multiple and...

also, they don’t deduct the sales tax when shipping outside the EU and when you order they don’t ship them out directly but only several weeks later when they sold all product, probably drop shipping. afaik they buy up unsold OEM inventory for cheap. use-elitebikes from austria has a similar business model

Therw as one of the bigger mail order companies that had an in house bike brand and the rumors were that they would order bikes with the cheapest steel frames they could buy but set-up with top shelf parts.. When the bikes got here, they stripped the bikes and tossed the frames.. A former employer of mine would buy a good amount of closeout bikes, and when it came down to some sizes that didn't sell, they would strip the bikes and sell all the parts at a deep discount.. I never did a breakdown, but he probably made more...

The purchase price of a product in no way reflects the margin to the manufacturer, especially in times like this. While @Dave_Camp has inside knowledge from the engineering side, I have the same sort of insights from the finance side. I can tell you with high amounts of confidence a lot of the pricing we are (still) seeing is not sustainable When your margins don't support your baseline cost to run your company + cost of capital, you will end up in bankruptcy. The only question is when, which is based on how strong your balance sheet is and how...

I promise you- a SuperDeluxe Ultimate costs a lot more than $79 USD/Euro to make... That was my product line for a long time- I have been to the factory and suppliers where they come from.

Felt this wasn't a terrible time to post a screenshot of my little dashboard I built a few months back. Obviously, this only pertains to equity valuation of publicly traded companies but its still pretty dang rough in our corner of the economic universe. www.otherhours.com

Adam touches on this during the podcast listed earlier in the thread.. He went with a group that he thought had good intentions that would help grow Revel beyond what he could.. A good listen..

Good question. Slight tangent, but I’ve been toying with the idea of launching a monthly podcast where I unpack stuff like this. I didn’t think people would care, but when you break it down in a way that maps to our world, it actually seems to land. And honestly, it’s way easier for me to riff on this in audio form than hammer it out on a keyboard. Anyway, I read through the last few pages of comments, good to see Revel back from the dead, by the way. I’ll probably share more thoughts on that later (maybe). For now...

I've got that podcast lined up to listen to on my way to work in the morning..

based on the podcast, he retired but missed bikes. so i would say pretty good deal for him

Sell it at peak COVID, buy it back for pennies on the dollar in peak tariffs. The only way to make money in the bike industry?