Tomorrow Health

Sweatcoin pays people to walk. Co-founder Oleg Fomenko on where the money comes from when your product pays the customer.

Recorded in January 2026.

Every fitness business charges for activity. Membership, trainer, kit. Oleg Fomenko built the reverse, and he tells Natalia Karbasova that early investors called it a charity and asked where the business was.

Fomenko is co-founder of Sweatcoin and now leads Sweat Foundation, the business behind the Sweat token and Sweat Wallet. He spent most of a decade on Sweatcoin before moving across, and the two companies exist separately for reasons he explains in the episode.

In this conversation:

- Where the revenue sits when the product pays the customer instead of charging them

- What a brand is actually buying when it pays to be a partner

- Why these users are the mirror image of Strava's, and who they are

- Why a failed Bitcoin fork produced two separate companies

- What it takes to put a cash number on an active day

Links:

• Oleg Fomenko on LinkedIn

• Sweatcoin
• Natalia Karbasova on LinkedIn
• Tomorrow Health
• Apply to join FitTech Club

Chapters:

00:00 Why movement should be a trillion-dollar market

00:29 Sweatcoin, and why it pays you to walk

01:40 From 100 million to 200 million

02:54 How it actually works

05:06 Cashing out, and what a token is worth

06:20 Why these are not Strava users

09:45 Where the money comes from

10:56 What a partner is paying for

13:01 Why there are two companies

14:45 The premium subscription

15:50 Putting a price on an active day

19:11 What operators can do with this

20:53 What the industry gets wrong

21:39 Where to find Tomorrow Health

All figures in this episode are Oleg Fomenko's own disclosures at the time of recording.

Recorded one day before EGYM announced its merger. Co-founder and CTO Florian Sauter on why the AI is not a language model.

Recorded in January 2026.

Every fitness technology conversation in 2026 starts with large language models. Florian Sauter runs the technology at EGYM and says that is not what the company builds with. On his account the core product sits on classical machine learning over structured data, and the hard input is not workout data at all. It is hard assessment data from equipment.

Sauter is co-founder and chief technology officer at EGYM, the Munich connected-equipment and gym software business. He has held the role for around fifteen years, from a single room to a company that on 31 March 2026 completed a merger with Playlist, the parent of Mindbody, ClassPass and Booker, in a deal the companies put at 7.5 billion dollars enterprise value with 785 million dollars of new equity. This conversation was recorded on 14 January 2026, the day before that merger was announced.

In this conversation:

- Why EGYM Genius runs on classical machine learning rather than large language models

- Why assessment data, not workout data, is the input that closes the loop

- What member care looks like in a gym segment that carries no staff

- Why a training plan has no single outcome to optimise for

- What combining hardware and software actually buys a product team

Links:

• Florian Sauter on LinkedIn
• EGYM
• Natalia Karbasova on LinkedIn
• Tomorrow Health
• Apply to join FitTech Club

Chapters:

00:00 The gyms with nobody on the floor

00:25 Three things to listen for, and what happened the next day

01:37 Fifteen years, from a single room

02:49 EGYM Genius and the average member

03:55 Why assessment data is the hard part

05:04 Less generative AI, more machine learning

06:54 The Fitness Hub and computer vision

07:33 A training plan has no single right answer

08:53 Everything in house

09:11 Member care with no staff on the floor

10:24 Copilots, and mixed results

11:15 What hardware plus software actually buys you

12:09 Fitness converging with health

13:41 The problem AI will never solve

14:06 Build value, technology follows

Almost 300 clubs and 700,000 members. SATS Chief Digital Officer Gaute Sandal on what actually keeps a member coming back.

Recorded in 2025.

Every fitness operator is told it needs an ecosystem. At the time of this conversation SATS, the largest operator in the Nordics, connected to no wearables and no external apps at all. Gaute Sandal had looked at it repeatedly and put it below the line every time. His argument is not that integration is worthless. It is that it does not move the only number that matters, which is whether a member who is struggling builds a habit.

Sandal is Chief Digital Officer at SATS, running a team of more than 50 people across the app, machine learning and in-club systems. SATS operates close to 300 clubs across the Nordic countries, has more than 700,000 members and employs close to 10,000 people. He is the person who decides what gets built and what gets cut.

In this conversation:

- Why the first eight weeks decide whether a membership survives

- Why more members open the SATS app than walk into a club, and what that makes the app

- Why wearable integration kept losing the priority argument inside SATS

- What happened to the Mentra home-training bet when the clubs reopened

- What SATS tracks in the club, and what it refuses to connect to a member

Links:

• Gaute Sandal on LinkedIn
• SATS
• Natalia Karbasova on LinkedIn
• Tomorrow Health
• Apply to join FitTech Club
  

Chapters:

00:00 What happens when you stop showing up

00:30 Three things to listen for, and what changed since

02:00 What success looks like for a chief digital officer

03:46 Retention as a commitment on both sides

05:11 Mid-market, full service, and the group training bet

05:28 Inside the first eight weeks

07:17 Clubs and app as one ecosystem

07:48 More members open the app than enter a club

08:36 What happened to the Mentra home-training bet

10:16 Why integration keeps losing the priority argument

12:07 What the ideal integration would actually do

13:34 What SATS tracks in the club, and what it refuses to connect

16:21 What a wearable or equipment partner has to bring

17:45 The ecosystems he rates

18:56 The intervention problem worth solving