The Enhanced Games — tech’s steroid extravaganza — didn’t pay off, as company posts $60 million loss
I traveled to Las Vegas in May to watch the Enhanced Games — a one-of-a-kind sports competition that lets athletes compete while using the kind of performance-enhancing drugs typically banned in professional sports. The games, derided as the “steroid Olympics,” were put on by a telehealth company backed by the likes of Peter Thiel and staffed by veterans of the crypto, AI, and biotech industries.
Why It Matters
This story touches on steroid, enhanced, games — topics readers are actively tracking. Review and add editorial context before publishing.
Key Facts
- Fact 1: Earlier this week, the Enhanced Group, the company that put on the games, posted its second-quarter earnings report, revealing that the company had suffered a net loss of nearly $62 million.
- Fact 2: Enhanced Group, founded only several years ago in 2023, enjoyed an IPO earlier this year at a $1.2 billion valuation, and sells personalized health treatments via a digital telehealth platform.
- Fact 3: The treatments it sells are all FDA-approved, including peptides, testosterone injections, GLP-1s for weight loss, and other similar products.
- Fact 4: The company’s Q2 earnings report says it brought in $17.7 million in the last quarter, but most of that money came from sponsorships tied to the games, not the telehealth business on which the company was built.
I traveled to Las Vegas in May to watch the Enhanced Games — a one-of-a-kind sports competition that lets athletes compete while using the kind of performance-enhancing drugs typically banned in professional sports. The games, derided as the “steroid Olympics,” were put on by a telehealth company backed by the likes of Peter Thiel and staffed by veterans of the crypto, AI, and biotech industries.
The event ended up being more than a little anticlimactic. Hailed by its creators as an event that would fundamentally transform the world of organized sports, the games resulted in few exciting feats. Only one world record fell, and it came in swimming, a sport where records are broken often.
(Original synthesis pending human/AI review — generated by the stub provider by selecting real sentences from the source material, not by writing new analysis or commentary.)
Original source: TechCrunch
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