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What killed the direct-to-consumer bike boom? This episode combines financial data, industry research, and insider knowledge to explain the DTC mountain bike industry's spectacular rise and dramatic fall. Josh presents findings indicating that many of the DTC bike brands are financially struggling or insolvent. The podcast reveals how customer acquisition costs skyrocketed 200%+ over ~10 years as Meta and Google replaced traditional retailers as profit-extracting middlemen, while increased competition, privacy changes, and expensive venture capital made the DTC model financially unviable for most DTC companies.

Listeners get unprecedented insight into the financial health and product quality of brands like Ari/Fezzari (healthy), Canyon (distressed), YT (bankrupt), Commencal (stable), Guerilla Gravity (closed), Revel (restructured), Propain (healthy), and Polygon (strong). Bike shop owner Dane Higgins explains the tangible value independent bicycle dealers provide—from expert bike fitting and assembly to warranty support, community events, and local trail expertise that DTC brands cannot replicate. The episode concludes with Josh's five predictions about the future of bike retail, including a shift to omnichannel models with clear boundaries between what's sold direct versus through dealers.

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