Betting on Yourself: Lessons from John Foley

Oscar S. ‘26 (right) met with Peloton founder John Foley (left), and the pair discussed battle-tested keys to excelling as an entrepreneur and achieving (as well as defining) success.

Written by Oscar S. ‘26

It’s not every day you’re invited into the home of a former Fortune 500 CEO, especially to interview the founder of Peloton. But somehow, I managed to find myself sitting in John Foley's living room, drinking Spindrift seltzer and talking about entrepreneurship and different kinds of businesses with him.

You're probably wondering how and why I was able to do all this. A soccer teammate of mine was telling me about how he was close with the former CEO of Peloton's son. Mr. Foley's son and I were mutual friends, so I asked Q, his son, if it would be alright to interview his dad. He gave me the green light so I sent an email and to my surprise Foley said come over and let's chat. I decided to reach out to Mr. Foley because I didn't really have exposure to the business realm (my entire family are artists), and I was really curious and interested to learn more about what this business world had to offer. I was also so determined to understand how an individual can leave such an impact on the world and create something for the benefit of society. In addition many of my peers were super enthusiastic about business just as much as I was so I decided to document and record the entire process.

Redefining Success

When I asked Foley what success meant to him he said “99.99% of success is being a decent, ethical, hardworking, humble, honest person. A good family member, a good parent, a good friend.”

That sort of surprised me. I was expecting an answer about a big milestone in his business or a finance accomplishment. In a world where success is often measured in money and status, his perspective was a reminder that the real way to make the world a better place and become successful is about being who you are, having the maturity to be contempt with what you have and always finding the courage to lift others up.

Finding Opportunity in Unexpected Places

As someone fascinated by tech startups, I asked Foley how people like myself should gain experience; “A lot of people think working at a cool tech startup will make them an entrepreneur,” he said. “But real opportunity is often in overlooked industries.”

He challenged me to get experience in not so glamorous jobs. “You could spend a summer in construction and figure out how to disrupt that industry. Or go into something totally unsexy, like rugs, there’s money and solutions to be made in things people don’t think about.”

The Power of Accountability

One of the biggest struggles for people my age is staying focused. I told Foley that sometimes, I have great ideas but struggle to act on them. His response was simple: “Tell people what you’re going to do.”

By putting your goals out there, telling your parents, your friends, you create a sense of accountability. “If I see you in three weeks and ask, ‘How’s that project you said you were starting?’ your ego will kick in,” he said. “You won’t want to be the guy who said something and did nothing.”

Building the Right Team

Foley didn’t build Peloton alone. “The right people make all the difference,” he said. But hiring isn’t easy, you’ll get it wrong a lot. He quoted Jack Welch, saying even the best managers are wrong 30-40% of the time. “If you’re just starting out, expect to be wrong 50% of the time.”

That stuck with me. Whether it’s picking business partners or just surrounding yourself with the right friends, not every relationship will work out and that’s okay. The key is to keep looking for the people who push you forward.

Software vs. Physical Products: Two Paths to Entrepreneurship

With Peloton, Foley navigated both tech and physical products. I asked him which was harder. “Software is easier to scale,” he said. “Three people in a garage can build something massive. That’s why Instagram sold for a billion in 18 months.”

Physical products, though? “It’s a grind, logistics, manufacturing, inventory. But that’s also where opportunity is, because fewer people try to disrupt those spaces.”

The Real Secret to Success

At the end of our conversation, I asked him for his biggest piece of advice. His answer? Hard work beats everything.

“Ideas are cheap. Everyone has ideas,” he said. “The question is: Who’s willing to put in the work? Who’s going to wake up early, grind for 10 years, and make it happen?”

It made me realize that Foley got to where he is today because he made his own luck by being persistent.

My Takeaway

Walking away from our conversation, I realized that Foley’s journey wasn’t just about business, it was about mindset. Be self-sufficient. Bet on yourself. Find opportunities where others don’t. Hold yourself accountable. Surround yourself with the right people. And most of all, work harder than anyone else.

As a teenager in New York City, I don’t know exactly what my future holds. But if there’s one thing I’m sure of, it’s this: When the time comes, I’m going to bet on myself.