Probably so. PTON has a very low WACC right now! Ha! How much cash do they have on the balance sheet? Like, 2 billion? And IIRC their revolver is completely undrawn.
Our hit rate is a fraction of a percent. We’re going to do business that is right for us & PTON is going to do what is right for PTON. If those two things intersect we’re going to have a great interaction. If not, no hard feelings.
But I was thinking about PTON just as an equity investment in my own account.