Earlier quoted context omitted.
OBike has been a shocking failure in Australia. Not necessarily from a business perspective, but from an environmental one. Because they aren't physically locked onto anything, it has become a game to see what stupid place you can put an OBike. Recently they fished a couple of dozen out of the Yarra River. People think it's amusing to just abuse them. Half of them have the wheel lock broken off them, so they're free…
Oh god yes. I live near a small creek in central melbourne. My morning commute passes usually 3-4 newly trashed O-bikes that have been ghostied into the creek, or recently fished out by a neighbour. I recently spotted a guy with a super nice camera stalking the riverbank and jokingly asked him if he was O-bike spotting. He replied that he was, I pointed him to two submerged on the other bank and he said he was making…
Same as silicon valley, keep growing to attract more and more venture capital, worry about profitability later.