Shock as $140m bike-share startup CEO goes AWOL ahead of impending collapse
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Re: Shock as $140m bike-share startup CEO goes AWOL ahead of impending collapse
#2It’s hard to imagine why they found this shocking. Many startups with questionable business models end up bankrupt, no matter how well funded.
Re: Shock as $140m bike-share startup CEO goes AWOL ahead of impending collapse
#3As I see it, these guys took US$60 million from VCs and used it to donate 350000 perfectly robust bicycles to some parts of the world most in need of modern transportation (SF).
They are goddamn heroes. If you gave the same money to the SFCTA they would probably build a mile of highway facsimile.
Re: Shock as $140m bike-share startup CEO goes AWOL ahead of impending collapse
#4I don’t think I’ve ever seen a bike share bike actually being ridden. I have seen rows of bike share bikes sitting parked taking up useful space that could have been allocated more usefully as public parking for people riding bikes they own.
I assume there must be some aspect to this business I’m not understanding if they are able to talk cities into giving them valuable street space and investors into backing them to the tune of $50M+. I’m not seeing what value they add by centralizing ownership of what is already a very inexpensive and democratic mode of transportation. What is the play here?
Re: Shock as $140m bike-share startup CEO goes AWOL ahead of impending collapse
#5"staff this week told salary payments will be delayed until February 10, 2018"
For real?? What sane person would continue working for them at this point? Might as well say February 10, 2028...
Re: Shock as $140m bike-share startup CEO goes AWOL ahead of impending collapse
#6In Sydney you're required to wear a helmet, and there are not many people willing share helmets...
Re: Shock as $140m bike-share startup CEO goes AWOL ahead of impending collapse
#7As I see it, these guys took US$60 million from VCs and used it to donate 350000 perfectly robust bicycles to some parts of the world most in need of modern transportation (SF). They are goddamn heroes. If you gave the same money to the SFCTA they would probably build a mile of highway facsimile.
> (Bluegogo) holds tens or even hundreds of millions of dollars in deposits from its approximate 15 million users, which many now fear cannot be refunded.
These guys took millions from users in the form of deposits.
Re: Shock as $140m bike-share startup CEO goes AWOL ahead of impending collapse
#8I don’t think I’ve ever seen a bike share bike actually being ridden. I have seen rows of bike share bikes sitting parked taking up useful space that could have been allocated more usefully as public parking for people riding bikes they own. I assume there must be some aspect to this business I’m not understanding if they are able to talk cities into giving them valuable street space and investors into backing them t…
Depends on where you live and the target market. I found the bike share (Bay Area Bike Share, since sold out to Ford) convenient but the bikes too clunky and heavy. I see dozens of them daily on my commute, in and out of SF. They get plenty of use here.
Re: Shock as $140m bike-share startup CEO goes AWOL ahead of impending collapse
#9I don’t think I’ve ever seen a bike share bike actually being ridden. I have seen rows of bike share bikes sitting parked taking up useful space that could have been allocated more usefully as public parking for people riding bikes they own. I assume there must be some aspect to this business I’m not understanding if they are able to talk cities into giving them valuable street space and investors into backing them t…
"I don’t think I’ve ever seen a bike share bike actually being ridden."
One person's noticing or not noticing bikes being ridden is a poor way to judge the effectiveness of a city-wide program.
I know I've seen plenty of bike-share racks mostly empty of bikes. I could assume from that that these bikes are currently being used. But that's a poor way of judging too, because I don't know if they were ever full, or how many bikes were stolen or lost, etc.
The real way to judge is from data collected by the agency in charge of the bike share program itself (assuming they keep such data and that the data can be trusted), or to have some independent third party keep track of all the bikes and their use.
Re: Shock as $140m bike-share startup CEO goes AWOL ahead of impending collapse
#10I don’t think I’ve ever seen a bike share bike actually being ridden. I have seen rows of bike share bikes sitting parked taking up useful space that could have been allocated more usefully as public parking for people riding bikes they own. I assume there must be some aspect to this business I’m not understanding if they are able to talk cities into giving them valuable street space and investors into backing them t…
I have no idea where you are, but I have seen many bikes ridden all the time in London, Paris, New York, Melbourne, Lyon. Maybe you should get out of your car more?