The discussion centers on whether two bikes with different wheel diameters will achieve the same speed when ridden with equal effort. It concludes that, assuming all other factors like wind resistance and terrain are equal, both bikes will cover the same distance in the same time, as the same effort translates to the same work done. Larger wheels may have advantages in maintaining speed due to lower rolling resistance, but this does not affect the outcome when effort is constant. The conversation also touches on how rolling and wind resistance impact cycling performance, emphasizing that wind resistance becomes more significant at higher speeds. Ultimately, the consensus is that the same effort results in the same speed, regardless of wheel size.