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The World Has Gone Mad … Part 2,384,456,216!
Highlighting 4 takeaways ….
- Each bike cost Ofo nearly $100. They were meant to last two years.
- It charged as little as 15 cents a month for unlimited use of each bike.
- Its workforce has been slashed from about 3,600 to a few hundred.
- A company once valued at $3 billion is now on its knees.”
Yunan Zhang
My Thoughts
15 cents per month is $1.80 per year. $3.60 for two years - how long a bike was meant to last. To even break even on a cost per bike of $100 would mean the bike lasting more than 50 years without any other costs attributed.
Hands up if you are surprised.