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Jason Kelly - Sweat Equity: Inside the New Economy of Mind and Body

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Inside the New Economy of Mind and BodyGo inside the trend that spawned a multi-billion dollar industry for the top five percent.
Sweat Equity goes inside the multibillion dollar trend toward endurance sports and fitness to discover whos driving it, whos paying for it, and whos profiting. Bloombergs Jason Kelly, author of The New Tycoons, profiles the participants, entrepreneurs, and investors at the center of this movement, exploring this phenomenon in which a surge of peopleled by the most affluentare becoming increasingly obsessed with looking and feeling better. Through in-depth looks inside companies and events from New York Road Runners to Tough Mudder and Ironman, Kelly profiles the companies and people aiming to meet the demands of these consumers, and the traits and strategies that made them so successful.
In a modern world filled with anxiety, pressure, and competition, people are spending more time and money than ever before to soothe their minds and tone their bodies, sometimes pushing themselves to the most extreme limits. Even as obesity rates hit an all-time high, the most financially successful among us are collectively spending billions each year on apparel, gear, and entry fees. Sweat Equity charts the rise of the movement, through the eyes of competitors and the companies that serve them. Through conversations with businesspeople, many driven by their own fitness obsessions, and first-hand accounts of the sports themselves, Kelly delves into how the movement is taking shape.
Understand the social science, physics, and economics of our desire to pursue activities like endurance sports and yoga
Get to know the endurance businesss target demographics
Learn how distance runningonce a fringe hobbybecame a multibillion dollar enterprise fueled by private equity
Understand how different generations pursue fitness and how fast-growing companies sell to them
The opportunity to run, swim, and crawl in the mud is resonating with more and more of us, as sports once considered extreme become mainstream. As Baby Boomers seek to stay fit and Millennials search for meaning in a hyperconnected world, the demand for the race bib is outstripping supply, even as the cost to participate escalates. Sweat Equity, through the stories of men and women inside the most influential races and companies, goes to the heart of the movement where mind, body, and big money collide.
Hardcover: 240 pages
Publisher: Bloomberg Press (April 25, 2016)
Language: English
ISBN-10: 1118914597
ISBN-13: 978-1118914595

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Since 1996, Bloomberg Press has published books for financial professionals, as well as books of general interest in investing, economics, current affairs, and policy affecting investors and business people. Titles are written by well-known practitioners, BLOOMBERG NEWS reporters and columnists, and other leading authorities and journalists. Bloomberg Press books have been translated into more than 20 languages.

For a list of available titles, please visit our Web site at www.wiley.com/go/bloombergpress.

SWEAT EQUITY
Inside the New Economy of Mind and Body

Jason Kelly

Cover image konstantynoviStockphoto Cover design Wiley Copyright 2016 by - photo 1

Cover image: konstantynov/iStockphoto
Cover design: Wiley

Copyright 2016 by Jason Kelly. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.
Published simultaneously in Canada.

No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, recording, scanning, or otherwise, except as permitted under Section 107 or 108 of the 1976 United States Copyright Act, without either the prior written permission of the Publisher, or authorization through payment of the appropriate per-copy fee to the Copyright Clearance Center, Inc., 222 Rosewood Drive, Danvers, MA 01923, (978) 750-8400, fax (978) 646-8600, or on the Web at www.copyright.com. Requests to the Publisher for permission should be addressed to the Permissions Department, John Wiley & Sons, Inc., 111 River Street, Hoboken, NJ 07030, (201) 748-6011, fax (201) 748-6008, or online at www.wiley.com/go/permissions.

Limit of Liability/Disclaimer of Warranty: While the publisher and author have used their best efforts in preparing this book, they make no representations or warranties with respect to the accuracy or completeness of the contents of this book and specifically disclaim any implied warranties of merchantability or fitness for a particular purpose. No warranty may be created or extended by sales representatives or written sales materials. The advice and strategies contained herein may not be suitable for your situation. You should consult with a professional where appropriate. Neither the publisher nor author shall be liable for any loss of profit or any other commercial damages, including but not limited to special, incidental, consequential, or other damages.

For general information on our other products and services or for technical support, please contact our Customer Care Department within the United States at (800) 762-2974, outside the United States at (317) 572-3993, or fax (317) 572-4002.

Wiley publishes in a variety of print and electronic formats and by print-on-demand. Some material included with standard print versions of this book may not be included in e-books or in print-on-demand. If this book refers to media such as a CD or DVD that is not included in the version you purchased, you may download this material at http://booksupport.wiley.com. For more information about Wiley products, visit www.wiley.com.

Library of Congress Cataloging-in-Publication Data:

Names: Kelly, Jason, 1973- author.
Title: Sweat equity : marathons, yoga, and the business of the modern,
wealthy body / Jason Kelly.
Description: Hoboken : Bloomberg Press, 2016. | Series: Bloomberg | Includes
bibliographical references and index.
Identifiers: LCCN 2016011018 (print) | LCCN 2016011198 (ebook) | ISBN
978-1-118-91459-5 (hardback) | ISBN 978-1-118-91461-8 (ePDF) | ISBN 978-1-118-91460-1 (ePub)
Subjects: LCSH: Businesspeople. | Leadership. | Success in business. | BISAC:
BUSINESS & ECONOMICS / Consumer Behavior.
Classification: LCC HB615 .K3955 2016 (print) | LCC HB615 (ebook) | DDC
338.7/616130973dc23
LC record available at http://lccn.loc.gov/2016011018

For Owen Contents Guide Pages Acknowledgments Its a rare and wonderful thing - photo 2

For Owen

Contents
Guide
Pages
Acknowledgments

Its a rare and wonderful thing when things you love collide in a single project and Im deeply grateful to the many, many people who helped me along the way.

None of this would be possible without the support of Bloomberg, my journalistic home since 2002. Working there has provided me opportunities, challenges, and adventures I never imagined and I owe more than I can express to Bloombergs leadership, starting with Mike Bloomberg and Peter Grauer. Ive been able to work for two amazing editors-in-chief, including Bloomberg News founder Matt Winkler, who hired me and has supported me for more than a dozen years. More recently, Ive learned much from and been inspired by John Micklethwait.

John McCorry hired me almost 14 years ago and its an honor and pleasure to work closely with him these many years later. Reto Gregori has encouraged and challenged me, as has Chris Collins. Jennifer Sondag is my Bloomberg conscience and de facto life coach.

Evan Burton and Tula Batanchiev at Wiley understood the idea from the beginning, stuck with me, and helped me find the book in this big topic, adding their personal fitness experiences into the mix. James Belcher, a fellow endurance athlete, provided a burst of enthusiastic support that got me over this particular finish line.

Bob Bierman gave early encouragement and space to get this book going, and advice based on his triathlete adventures. Laura Chapman, work neighbor, friend, and yogi, endured the tortured final months of the manuscript. Kristi Huller, Tatiana Mishin, and Jay Hass all provided key introductions to characters in this book.

Im grateful to friends and colleagues inside Bloomberg and beyond, especially those who, sometimes unwittingly, spurred me forward with a simple, Hows that book coming along? as well as insights from their own fitness lives. Im indebted to Liz Hester, Duncan King, Allison Bennett, Laura Marcinek, Shelby Siegel, Katherine Sayers, Laura Zelenko, Karen Toulon, Tom Contiliano, Stephanie Ruhle, Erik Schatzker, David Westin, Kevin Sheekey, Meridith Webster, Lee Cochran, Ty Trippet, Jill Watanabe, Ashley Bahnken, Craig Gordon, Cory Johnson, Ken Karpay, Betty Liu, Kristen Hensley, Lisa Kassenaar, Barbara Morgan, Clyde Eltzroth, Holly Doran, Dennis OBrien, Ashley Merryman, Stephanie Mehta, Stacy Kennedy, Adam Levy, Noam Neusner, Randy Whitestone, Chris Ullman, David Marchick, Deirdre Bolton, Mike Buteau, Rob Urban, Tallin Braun, Christine Ong, Robin Wood Sailer, Sally Armbruster, Suzanne Fleming, Jonathan Keehner, Derick Schaudies, Herbie and Ellen Calves, Jennifer Meyers, Beth and Steve Loffredo, Jim and Allie Baller, Denise and Bill Scaglione, Margaret and Dave Yawman, Burns and Ruth Patterson, and many others in Sleepy Hollow. Im grateful for my association with the Hudson Valley Writers Center, whose work I deeply believe in.

Wendy Naugle is a brilliant editor and writer, and a dedicated, crazy-fast runner to boot, making her invaluable to me over the course of this project, on the trails, and on the road to races that appear throughout this book. Shes also among a group of diehard fun runners that show up to run through Rockefeller State Park every weekend. The day that my neighbor Todd Ruppel, the unofficial mayor of the group, invited me to join that merry band changed me as a runner and person. Ben Cheever taught me a lot about writing and life on those trails.

My modern life as a runner began in 1999, when I watched my friend Billy Robins run a marathon at Disney World. Within months, hed hooked me into his gang of runners. Through hundreds of phone calls, e-mails, and texts, he encouraged and cajoled me through a dozen marathons. Hes a coach and role model beyond compare. His wife, Kendra, by virtue of her unyielding support, knows more about marathons than most people who run them.

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