Oy Vey

[Chris]

I mean, the guy remains my cycling hero, but sone people just threw $2M away. https://www.velonews.com/news/lemond...-carbon-range/

Interestingly the article says this will be his second attempt at a bike company. What about the partnership with Time?

[R3awak3n]

I wonder what they think they can bring to the bike industry? I bet they will launch some sort of lemond gravel bike

[Mr. Pink]

Originally Posted by Chris

I mean, the guy remains my cycling hero, but sone people just threw $2M away. https://www.velonews.com/news/lemond...-carbon-range/

Interestingly the article says this will be his second attempt at a bike company. What about the partnership with Time?

Have you noticed that the bike industry is on fire right now?

[dbnm]

That is nuts.

The guy was an amazing cyclist but his business track record is not so great.

How many lawsuits will happen before the new company closes?

[JasonF]

I work in the hedge fund/private equity "space" and it's insane how much $$$ is sloshing around looking for deals, any deal.

Pension funds, HNW individuals and anyone else with capital to allocate views private equity as a panacea to ultra low interest rates and historic stock market valuations. Since most private equity investments aren't "marked to market" a pension fund or anyone else for that matter, can value their holding with a lot of wiggle room. Private equity funds don't balk at this since they get a percentage of profits on gains.

In short, I bet he could've raised a lot more capital if he wanted.

[echappist]

He's absolutely one of my favs, but one really wishes this current venture to reverse the trend he has with his businesses.

Earlier today, I was just thinking about how the Lemond Revolution trainer was perhaps one of the first direct-drive trainers on the market, but how it no longer has any market share. That was a golden opportunity for him, back when Wahoo was the only other competitor in North America, yet the venture didn't quite work...

[mcteague]

I recall when Firefly started and I thought it unlikely to succeed. There were so many Ti frame makers around I could not see what would make them stand out. Shows how much I know. While I would not put my money down on GL's new venture I hope it works out.

Tim

[Chris]

It’s not about it being a new bike venture, it’s about the number of business starts and stops he has had.

[dbnm]

I owned one of his last, steel bikes, the Lemond Washoe. It was made in Portland by Zen. Amazing bike.

The entire buying experience was slow and kind of painful. I won't go into all of the details I sure hope it fixes the ordering and delivery process and I do wish him all the best.

[Velocipede]

Originally Posted by echappist

He's absolutely one of my favs, but one really wishes this current venture to reverse the trend he has with his businesses.

Earlier today, I was just thinking about how the Lemond Revolution trainer was perhaps one of the first direct-drive trainers on the market, but how it no longer has any market share. That was a golden opportunity for him, back when Wahoo was the only other competitor in North America, yet the venture didn't quite work...

LeMond has had some bad luck and had people around him who've taken advantage of him. The Revolution Trainer, he had someone embezzle almost $200k and he did it thru trainer sales. That's part of the reason it's not around anymore. He stopped selling those, bikes and accessories shortly after that was found because it was difficult to trust employees and for him to travel for events.

[echappist]

Originally Posted by Velocipede

LeMond has had some bad luck and had people around him who've taken advantage of him. The Revolution Trainer, he had someone embezzle almost $200k and he did it thru trainer sales. That's part of the reason it's not around anymore. He stopped selling those, bikes and accessories shortly after that was found because it was difficult to trust employees and for him to travel for events.

Yikes, that really sucks. I'm actually wrong about the time period of the LeMond Rev; seems that it was the first to market, a few years before Wahoo introduced its own trainer.

Lemond seems an all around decent guy, and I really hope this latest one works out.

[buddybikes]

Originally Posted by mcteague

I recall when Firefly started and I thought it unlikely to succeed. There were so many Ti frame makers around I could not see what would make them stand out. Shows how much I know. While I would not put my money down on GL's new venture I hope it works out.

Tim

Firefly bit different, 3 guys with probably 50 years of framebuiding experience along with an art degree. They created a core business plan, to build bike by themselves and stuck to it. They don't "name" their bike - you just buy one that fits your need, after waiting.

[m_sasso]

I don't think you can win in bike racing even if you posses the physical attributes without dogged persistence. No doubt he is determined, likes bikes, and for him it is not a job, just a passion.

I own two and would be happy to try a third. The LeMond name is already synonymous with some great bicycles, I just think he wishes to keep that concept/feeling moving forward. I certainly hope he is on his way to more success building bicycles.

[jamesdak]

I'm not passing judgement, just waiting to see what happens...

[unterhausen]

Originally Posted by JasonF

I work in the hedge fund/private equity "space" and it's insane how much $$$ is sloshing around looking for deals, any deal.

State College PA has been going through a high-rise building boom. Every time I think that there are far too many new buildings, someone starts building another. Seems crazy. I just don't see how luxury housing downtown makes much sense, but apparently a number of people do.