Lime shuts in 12 markets, lays off around 100
Does anyone actually think this is a profitable market?Electric scooters are expensive, repair and charging is expensive. It’s a seasonal business. Vandalism/abuse is fairly common.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.I suspect the cost to the consumer would have to double for it to maintain any profitability, and the demand already sucks.Why did the VCs value these as billion dollar companies? Desperation?