The Lakers sold for $12.5B this week, and Fitt Insider's read on it is the interesting part. Buyers Josh Kushner and former Disney CEO Bob Iger went in through Thrive Eternal, an investment vehicle explicitly focused on assets with qualities that cannot be replicated by technology.
The issue extends that to our category: from gyms and races to social clubs and destinations, wellness is driving the in-real-life economy and becoming a defensible asset class in the age of AI. Ari Emanuel's MARI has raised nearly $3B to roll up tennis, endurance events, and other live experiences.
If you run a fitness brand, you are already holding an AI-proof asset. The question is whether your product actually captures what makes it one.
Scarcity is moving from content to proof
When anything can be generated, the valuable thing becomes what demonstrably happened. A workout video is trivially fakeable. A workout that was verified — reps counted, form scored — is not.
That's the quiet reason verification matters more every year. Cadoo's camera counts reps and scores form on those movements, and steps and distance come from Apple Health or Google Health Connect. The output isn't a claim a member made about themselves; it's evidence.
For brands, this has two uses. Internally, it's engagement data you can trust, rather than self-reported attendance. Externally, verified workouts become shareable, skinned videos carrying your brand — content whose credibility comes from the fact that someone actually did the work.
Community is the other thing that can't be generated
The issue notes 81% of Gen Z say sports are gaining influence over music, fashion, and careers, and 78% of young people attend sporting events for the pop culture around the game rather than the game itself. People aren't just consuming the sport. They're showing up to be somewhere, with others.
Cadoo Games is built on the same instinct at a smaller scale. Members stake their own money with friends on a goal, and the game recurs, so there's an ongoing shared ritual with real consequences. The stake makes it matter; the friends make it fun; the recurrence makes it a habit.
- Accountability that isn't a notification. Friends and money outperform reminders.
- Consistency between visits. Games run on the days members aren't in your building.
- Reach your members generate. Skinned shareables put your brand in their feeds, on the back of real effort.
The rest of the issue: premium holds, and wearables age up
On's stock fell more than 20% after Q2 earnings and a cut to its full-year outlook, with the company attributing the slowdown to full-price integrity — a deliberate refusal to discount in pursuit of premium positioning. Co-CEO David Allemann said the brand is attracting the next generation without discounting, with under-34s now a third of its base.
That's a useful counterpoint for operators tempted to solve retention with price cuts. Discounting buys a month; belonging buys a year.
Meanwhile WHOOP joined a Medicare wearables push with a program including a free strap, membership, and blood pressure cuff. Fitt Insider notes wearable users still skew young and healthy, but WHOOP medical chief Dr. Ami Bhatt says 91% of the company's over-65 users open the app daily. Oura filed a patent for detecting pregnancy complications, and Withings and Samsung are among the 190 Medicare pilot participants.
How to act on it
Two moves follow from this week. First, stop competing on price and start competing on the things software can't copy: your community, your rituals, and proof that your members are actually training. Second, make that proof visible — to you, and to their friends.
We're also building toward winnings converting into credit or perks at the brand itself. That's on our roadmap and not live yet, but it's the logical extension of an AI-proof asset: real effort converting into real value at a real business.
To see what verified, staked games look like for your members, visit Cadoo for brands or email Tim@cadoo.io.
Frequently asked questions
What makes fitness an "AI-proof" asset?
Per the thesis behind the Lakers sale, the durable assets are ones technology can't replicate. Training is physical, effortful, and social — it happens in a body, usually alongside other people. That combination is difficult to synthesize, which is why live and in-person wellness experiences keep attracting capital.
Why does workout verification matter more as AI improves?
Because generated content is cheap and proof is not. When any video can be fabricated, evidence that a workout actually happened becomes the scarce, trustworthy signal — for the brand measuring engagement and for the member sharing the result.
What exactly does Cadoo verify?
The camera counts reps and scores form on those movements. Steps and distance come from Apple Health or Google Health Connect rather than the camera. Together that gives brands activity data that doesn't depend on members reporting it themselves.
Is discounting a reasonable retention strategy?
On's approach in this issue suggests otherwise: it accepted a stock hit rather than erode full-price integrity, and still grew with under-34s. Discounts move a single renewal decision, while community and habit change how long someone stays.
