Glasses on the run Newsletter #54
Hi,
I hope you are well and enjoying the Paris Summer Olympics.
What was interesting in the business of running
A wide ranging and interesting interview with Strava CEO Michael Martin six months after he took the role. He talks about why it has taken so long for Strava to introduce dark mode, how it's trying to be more inclusive and its extensive use of AI - for example to detect cheating (e.g. someone recording a bike ride as a "run"). He also talks about the Strava business model, which will continue to be focused on subscriptions. Martin makes the point that he will honour Strava's commitment to not monetise the community's data - neither on individual level, nor as aggregated data (TechCrunch).
While Martin doesn't believe advertising "is the right approach for Strava", the company works actively with brands who can sponsor specific challenges or segments on the app. Challenges start at $20,000 per brand and brands then typically offer additional discounts for Strava users to increase engagement (Modern Retail).
And talking about cheating on Strava, "Strava Jockeys" are apparently athletes who would run routes at fast paces and get paid to log them on someone else's account. Hopefully the AI capabilities that CEO Martin talks about are / will be doing a good job at detecting that (TechRadar).
Asics, on the other hand, has partnered with Signify - an ethical data science company - to protect its athletes from online harassment. Sadly and disturbingly, according to the quoted research from Loughborough University "up to a third of posts directed at top sportspeople on social media now containing negative content" (Runner's World).
Asics has also partnered with Dassault Systèmes in Paris to create personalised sickliness based on individual foot shapes. It's a continuation of the collaboration between the two companies and Asics's earlier attempts in that direction (Dassault Systèmes).
And finally, a video interview with New Balance's CEO Joe Preston. He talks about the New Balance partnership with WNBA, but he expands by saying that "running is at our roots [...], but we really have developed into more of a sports brand". During the 2021 to 2023 period the company apparently doubled its 2020 business and the growth is continuing. Preston talks about the Olympics, the New Balance athletes there and his expectations about their performance (CNBC).
As always, thank you for reading,
Momchil
