WeightWatchers files bankruptcy

wsj.com

107 points by bookofjoe 2 days ago


bookofjoe - 2 days ago

https://archive.ph/xjdER

cmcaleer - 2 days ago

I'm not sure why this is being framed as an Ozempic story, when if anything it seems like it's more of a cautionary tale on not taking on $1.5 billion dollars of debt to buy back shares near all-time highs and crippling your company for over a decade before ultimately forcing it to file for bk.

https://www.prnewswire.com/news-releases/weight-watchers-ann...

Its stock tumbled ever since those highs and likely wouldn't have ever recovered had Oprah not bought and pumped it. To this day they still carry over a billion dollars in debt.

In fairness to the WW board of the last couple of years, they did make a of reasonable pivot to try to rectify the ship (like buying a telehealth service which prescribed Ozempic), but ultimately it seems like this buyback from 13 years ago created a burden that just made them unable to weather the storm gracefully.

pmarreck - 2 days ago

My 2 cents-

I lost 50 lbs or so on Mounjaro by the time I reached the maximum dosage. Then, a confluence of supply-chain issues and coverage issues eliminated ALL of it, and within a few short months I had regained all the weight. I finally got coverage again, and supply again (via Zepbound) and began slowly increasing my dosage again.

I'm now at the maximum dose and I've lost exactly 0 pounds from the peak.

So, a warning: Use of this drug seems to be a one-and-done. If you can't keep the weight down after you bottom out and after they take you off the drug, it MAY NOT work again.

tlogan - 2 days ago

Personally, I’ve found that the best use case for GLP-1 drugs is reducing alcohol consumption.

Just wanted to share that observation.

snapcaster - 2 days ago

I'm of two minds on the ozempic thing.

On the one hand, i'm really happy for my friends and loved ones who have always struggled with weight find a solution that works for them.

On the other hand, i went through a non-drug assisted weight loss journey and improved countless things about my lifestyle besides just the number on the scale.

I worry this solution being available will just increase the number of sedentary people (which is also really bad for your health) and create a whole new set of people dependent on the pharma industry to be able to live their lives how they want

codr7 - a day ago

Good riddance! I'm pretty sure they caused more eating disorders than anything, creating return customers just like every other business.

djd20 - 2 days ago

I call bs... the utterly terrible customer experience is what lost them their customers. And constant changing of plans which became less and less effective... all of their 10$ a month customers don't suddenly have the budget to spend 1000$ a month on ozempic.

toomuchtodo - 2 days ago

What's wild to me is the amount of effort and resources that have gone into weight loss around exercise and diet only for us to discover it is a hormone and brain chemistry issue around the gut and reward centers (GLP-1s). Shades of https://www.youtube.com/watch?v=02Or-Hx3yqc

ChildOfChaos - 2 days ago

Considering how expensive it is, I'm surprised so many people are doing it.

Here in the UK, I'd much rather just cut my diet a little bit. Faced with the choice of eating less or paying around £250 a month for the maintance dose, that's actually a huge motivator to get me to diet.

Bluestein - a day ago

I guess the ... "fat" lady has sung?

glp1guide - 2 days ago

Also relevant, compounders are being sued by Eli Lilly right now. The compounding loophole is being welded shut:

https://glp1.guide/content/eli-lilly-suing-glp1-compounders-...

Only a partial patent expiry for Semaglutide in 2026, then full in 2033:

https://glp1.guide/content/patent-expirations-for-glp1-recep...

lanfeust6 - 2 days ago

There's no free lunch, and anecdotally I know people who've gained back weight both after surgery, and after Ozempic. These are not tools that let you "do whatever you want" and still lose weight, but people have been sold the expectation that no habitual change is necessary. Even if your satiety is dialed back, some products are relatively non-satiating yet calorie-dense (e.g. sugary drinks and alcohol, junk food and deep fried foods).

You don't get to binge for free. In the words of Alan Carr (of "the Easy Way to Stop Smoking" fame), if you view a change in dietary habit as a sacrifice, for instance focusing on healthier food, then you will not succeed.

All that being said, it may still be useful. A popular view of pharmaceuticals for primary disorders like for instance insomnia is that they can help "bridge the gap" or get a start and recovery, but that they cannot be relied on in the long-term. Your chemistry adapts. That is similarly the most generous view I have of these products.

Anyway, the WW approach has obvious limitations for the same reason low-fat or low-carb does. In WW they use an arbitrary point system to obfuscate restriction, by encouraging protein and low-calorie density foods. Some foods are 0-1 in points (e.g. 0% cottage cheese), some are high regardless of how healthy they are (avocado). You can easily see the problem with this: you quickly hit a wall where you aren't automatically reducing calorie intake by mere virtue of what you are eating. The same thing happens with low-carb and low-fat: what are you going to do once you've cut out all fat and all carbs? Eat negative-carbs?

For sustainable WL of a large amount of weight, there is no way around counting. You cannot "intuitively" do it. And here it's important to stress that there's a major difference between avoiding weight-gain, and losing weight. If you're a person of average weight, you don't need to worry about counting jack if you simply have good eating habits. This is not enough when it comes to caloric restriction.

edit: re reduced cravings, some don't just overeat from physical cravings, but for emotional satisfaction. A binge session on comfort food is not about hunger. This is something to be addressed through therapy.

mrcwinn - a day ago

Hopefully during restructuring they can follow a plan to get leaner in a sustainable way.

damnesian - 2 days ago

Initial adjusting to a calorie limited diet is hard. Especially in a world where we are constantly bombarded my messaged specifically designed to trigger us to crave something and then buy it. But after an initial period or cravings and digestive unrest, the body adjusts to the new reduced calorie- or new food regimen- and you no longer feel hungry or have stomach upset.

We already have built-in "ozympic" functions- we just need to manually activate them. These drugs really do help some special cases, I don't deny that, but the fact the broad population have access to these drugs is not a natural state. We have no idea what the long-term effects will be. Long-term artifically induced effects of illness will eventually cause problems- erosive esophagitis and hemorrhoids are two examples- that have long-term health implications. Better to bite the bullet, if you have the ability, simply reduce your input, focus on foods that last longer in the digestive tract (whole plant foods), giving us fewer or more moderate glucose spikes, less craving and hunger later. Easier transition.