From Poker Bets to Fitness Giants: Shalom Meckenzie's Ambitious Journey with Amp Fitness

Shalom Meckenzie: A Billionaire’s Bet on Fitness

Shalom Meckenzie, who amassed a $1.4 billion fortune after merging his software company with DraftKings, is now setting his sights on the fitness industry with his startup, Amp Fitness. His journey began in October 2020 during a poker game on a luxury yacht, where a casual wager sparked the idea for his new venture.

The Inspiration Behind Amp Fitness

Meckenzie made a bet with one of his employees, Ian Bradley, who weighed 280 pounds. He promised a lavish Caribbean vacation if Bradley could lose weight by January. With support from colleagues, Bradley not only met the challenge but exceeded it, leading to a celebratory trip that cost Meckenzie more than he anticipated. This experience became the blueprint for Amp Fitness.

The Business Model

Amp’s model shares similarities with previous at-home fitness companies like Peloton and Mirror, which have struggled to maintain profitability. The startup offers a $2,000 wall-mounted cable crossover machine and a $23 monthly subscription for accessing trainers through an app. Notably, it does not feature a screen, which reduces initial costs compared to competitors. The company has enlisted fitness influencers, including Terry Crews, to attract potential customers.

Market Challenges

Despite the innovative approach, the at-home fitness market is highly competitive and has seen many failures. Companies like Tonal and Hydrow have faced significant challenges, and even Peloton, the most successful, has struggled with profitability despite a substantial subscriber base. Analysts warn that the current landscape is fraught with fads and fickle consumers, making sustained growth difficult.

Meckenzie's Vision

Undeterred by skepticism, Meckenzie believes in the potential of Amp, stating, "I think we are building something very big here—maybe even bigger than DraftKings." His personal investment of $50 million and support from family and friends underscore his commitment, although he acknowledges that scaling a hardware company is no small feat.

A Personal Motivation

Motivated by personal loss, as his father died young from a heart attack, Meckenzie sees fitness as a way to promote healthier lifestyles. He aims to create a positive addiction to fitness rather than the destructive nature of gambling.

Amp Fitness is poised to make waves in the industry, but only time will tell if it can break through the challenges that have plagued its predecessors.

Less Is More: A minimalist version of a cable crossover machine, Amp uses no weights—rather a silent electromagnetic motor creates resistance, from 5 lbs. to 100 lbs.