How Peloton Found the Secret to ScaleMeet the tech company disguised as a cycling brand.

Peloton's first cycling studio wasn't exactly an architectural masterpiece. "We created this 10-by-10 busted, back-office studio with some black curtains and cut a hole in one for the camera lens. We put eight really cheap bikes in the audience and a nicer bike on a pedestal, propped up on some bricks," recalls cofounder and CEO John Foley. "This is where we recruited our instructors." He seems, at least in part, horrified at the memory. "I can't believe they left their jobs for us."