4 ms·
Demand of what? This is an electric scooter company, it is supposed to do well when folks are not locked at home. The issue is low interest rates + helicopter
by pid-1 4y ago
Demand of what? This is an electric scooter company, it is supposed to do well when folks are not locked at home.
The issue is low interest rates + helicopter money -> high interest rates + fed sell off.
Bird did not overestimate consumer demand, they overestimated how easily they could finance a cash flow negative company.
- lm28469 4y ago> Demand of what? This is an electric scooter company, it is supposed to do well when folks are not locked at home. Many people stopped taking public transportation in favour of these alternatives
- imustbeevil 4y agoThe LTV of an electric scooter is negative, so more people using the service is actually bad for Bird.
- FerociousTimes 4y agoCould you please elaborate more on this?
- rvnx 4y agoThey show good metrics "we are profitable for each ride sharing from a hardware perspective", but if you look at financial statements you see things huge lines like "General and administrative expenses". As a result, 2021 income: 205M, expenses: 425M Essentially, this is the business of selling for 0.50 USD something that costs 1 USD to produce.