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What worries me about the bike shares is they all take a 100-200 rmb refundable deposit from each user. That's an unsecured interest free "crowdsourced" loan! I
by averagewall 9y ago
What worries me about the bike shares is they all take a 100-200 rmb refundable deposit from each user. That's an unsecured interest free "crowdsourced" loan! If the company collapses, it's riders' deposits that'll go down the toilet.
- baybal2 9y agoYes, they used to be deposit free, but once bigger ones started demanding them, all of them did too. Now, their business model is effectively that of a bank.
- seanmcdirmid 9y agoThere was an article in chinadaily a while back in how the government was forcing the bike companies to deposit these deposits in a special account. So it might not be as bad as that, but I wouldn't expect to get my deposit back either.