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Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

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Axios' Ina Fried (l) and Hoboken, N.J., Mayor Ravinder Bhalla. Photo: Axios

Hoboken, N.J., Mayor Ravinder Bhalla said at an Axios virtual event Friday that the city is ramping up its bike-share program with Citi Bike to make commuting to Manhattan and Jersey City easier.

Why it matters: Hoboken is the fifth-most densely populated city in the country and many of its residents use public transit. Fear of using public transit is still high during the coronavirus pandemic.

  • "Hoboken has the highest population of residents that rely on mass transit to commute to-and-from work every day in the country. That creates a real challenge for us," Bhalla said.

The big picture: The transit initiative predates the pandemic. The city has already converted 40% of its roads to include bike lanes.

  • "That policy initiative has become all the more important in the context of COVID-19 where you face real health risks that are associated with what we're used to, which is mass transit," he said.

Watch the event here.

Go deeper

Peloton plans on cheaper new options as coronavirus keeps gyms closed

Photo: Scott Heins/Getty Images

Enjoying a boom with so many gyms closed, Peloton "is preparing to launch a cheaper treadmill and a new high-end bike," Bloomberg reports.

The state of play: The new treadmill will be called 'Tread" and will cost less than $3,000, compared to $4,295 for the current model. It will be smaller and have a cheaper belt design. Peloton is also releasing Bike+, a premium stationary bike that will cost more than the current $2,245 version, which will have a price drop to $1,900.

Buffett eyes slow U.S. progress, but says "never bet against America"

Warren Buffett in New York City in 2017. Photo: Daniel Zuchnik/WireImage

Warren Buffett called progress in America "slow, uneven and often discouraging," but retained his long-term optimism in the country, in his closely watched annual shareholder letter released Saturday morning.

Why it matters: It breaks months of uncharacteristic silence from the 90-year-old billionaire Berkshire Hathaway CEO — as the fragile economy coped with the pandemic and the U.S. saw a contentious presidential election.

Restaurant software meets the pandemic moment

Illustration: Annelise Capossela/Axios

Food delivery companies have predictably done well during the pandemic. But restaurant software providers are also having a moment as eateries race to handle the avalanche of online orders resulting from severe in-person dining restrictions.

Driving the news: Olo filed last week for an IPO and Toast is rumored to be preparing to do the same very soon.