One of the stars of the working-out-from-home boom is struggling. Peloton won’t go quietly, though, and is making some big changes. The company will replace the CEO and co-founder, John Foley, who will become executive chairman, with former Spotify COO Barry McCarthy reportedly set to step into his shoes. While Foley is sticking around, the company is cutting around 2,800 corporate positions — these won’t include Peloton’s instructors who lead its live classes. The company said in a press release about the lay-offs that its “monthly membership will be complimentary for impacted team members for an additional 12 months." I'm not sure how they feel about that.
This all means we're back to speculating whether Peloton might be bought and folded into a bigger entity. Reports have suggested that Amazon and Nike are both looking into the possibilities, while pundits and analysts have long suspected Apple might pick it up as part of its fitness push. It could be a cheap purchase: Peloton reached a market value of $50 billion in January 2021, but it’s currently circling a $8 billion valuation.
— Mat Smith
The biggest stories you might have missed
Expect to see an Ultra model with a large 14.6-inch OLED screen.
Just ahead of Samsung's Unpacked event set for tomorrow, Evan Blass revealed a press release for Samsung's Galaxy Tab S8 lineup in his Substack newsletter. It confirms many key specs from earlier leaks, including the existence of an "Ultra model" — likely to be the most intriguing of the often straightforward, sometimes bland, tablet series. All the finer details will come later today: join us as we livestream everything Samsung reveals at Unpacked later today. It all kicks off at 10 AM ET (7 AM PT).
Netflix leads the streaming pack with 27 nods.
Apple’s TV+ films received six Oscar nods overall, up from two last year. Most significantly, Apple has broken through in the Best Picture category. CODA is the first Apple Original movie to receive a nomination for the top prize. Elsewhere, Netflix continued to push hard for plaudits, with a whopping 27 nominations across the board. Climate change satire Don’t Look Up, packed with Oscar winners like Meryl Streep and Leonardo DiCaprio, and Western The Power of the Dog both have nominations for Best Picture.
Because it’s not got a busy enough week.
Today, Samsung is rolling out an update that enhances some of the Galaxy Watch 4's and Watch 4 Classic's health and wellness features. While the watches have long been able to perform body composition scans, the update adds insights about those results powered by Chris Hemsworth's fitness app, Centr. This includes a 30-day free trial to the app, which typically only lasts for seven days — and is pretty pricey after that. Other features include interval training for runners, sleep coaching and a load of new watch face colors and digital watch faces.
The tempered glass and steam hole make a huge difference.
The Instant Pot does a lot of things well, but there are a few upgrades if you’re looking to maximize what the giant kitchen gadget is capable of. For a lot less than the air fryer companion, you can improve the Instant Pot’s slow-cooking potential with a very simple tweak: a fitted glass lid. Editor in Chief Dana Wollman dives a little deeper into the world of Instant Pot recipes.
A new report details just how drastically Tinder+ prices can fluctuate.
Tinder says it will no longer charge older users more to use Tinder+, following a new report questioning the dating app’s practice of charging older users “substantially more.”
Tinder+ pricing can vary a lot based on users’ age. The report relied on “mystery shoppers” in six countries — the United States, the Netherlands, New Zealand, Korea, India and Brazil — who signed up for Tinder+. According to the report, Tinder users between the ages of 30 and 49 were charged an average of 65.3 percent more than their younger counterparts in every country except Brazil. Tinder says it plans to abandon its age-based pricing altogether, having already halted it in the US, Australia and UK. (After a class-action lawsuit in California.)
Shops won't need dongles or terminals to take your money.
Apple has revealed Tap to Pay on iPhone, an upcoming feature that will let businesses accept payments just by bumping handsets (and the Apple Watch) — no extra hardware needed. The tech requires an iPhone XS or later and will also work with other digital wallets beyond the company’s own Apple Pay. Likewise, it’ll be compatible with contact-free credit and debit cards. Stripe is already planning to offer Tap to Pay on iPhone to business customers.