Lime shuts in 12 markets, lays off around 100
Does anyone actually think this is a profitable market?<p>Electric scooters are expensive, repair and charging is expensive. It’s a seasonal business. Vandalism/abuse is fairly common.<p>In terms of any environmental benefit, I highly suspect more gasoline is being consumed to collect and distribute scooters than the offset of a few last mile transports.<p>I suspect the cost to the consumer would have to double for it to maintain any profitability, and the demand already sucks.<p>Why did the VCs value these as billion dollar companies? Desperation?