E-scooter company Unicorn goes bust

[Louis]

To be filed with the other "is schadenfreude really evil?" items.

They blew all their cash on Facebook and Google ads, and now don't have enough left for operations.

Sorry guys, you won't be getting any of those $700 scooters, nor any refunds.

https://www.theverge.com/2019/12/7/21000094/unicorn-electric-scooter-shut-down-refund-tile

[Blue Jays]

What?!?!

[fiamme red]

Wait, does this mean that you can't always trust marketing? I'm shocked! :rolleyes:

This is a video the company put out one month ago: https://www.youtube.com/watch?v=5DCDRBy-lLc.

[SlowPokePete]

Who puts their phone in their shirt pocket.

WHO?

SPP

[Veloo]

Seriously!
https://www.youtube.com/watch?v=dXqFZOMgr9U

Who puts their phone in their shirt pocket.

WHO?

SPP

[charliedid]

Never heard of them.

[marciero]

Ironic choice of names.

[Mr. Pink]

I think this whole e-scooter thing has seen its fifteen minutes. I was just in Italy for a month, and did not see one, but, a year ago, they were all over the place in Spain. Maybe members here could chime in in their sightings.

If I had to put my money down, I'd say e-bikes, especially fairly rugged all purpose bikes, are the future, along with small Vespa like e-scooters. Bike sharing seems to have seen it's time, too.

[cmg]

Why pay for ride share? you can buy them and not. https://www.myproscooter.com/best-electric-scooter-for-adults/ That's the new trend....

[mulp]

how does a startup not even budget for OPERATIONS?!?!?!

[Mr. Pink]

Adam Neumann just walked away from the WeWork debacle with well over a billion dollars in the bank and no jail time. That will be the new benchmark for Unicorn scams. Who cares about operations and profit/loss when you can pull that off.

[Veloo]

This is nothing really new is it?
Just a slightly different permutation of what's been going on for a long time.

Take peoples' money, don't deliver, go screw off on a remote beach somewhere.

[Mr. Pink]

I guess it's just that there is so much money today, chasing some sort of return. Good to see the Saudis getting screwed on this, at least.

[unterhausen]

On the positive side, they only stole money from 350 people. Investors know they might lose, I hope.

The ride share scooters and ebikes seem like a great deal if there is availability. I would certainly rather spend a few hundred a year for that than the full price and have to deal with maintenance and repairs myself.

I have only seen e scooters once, along the Potomac. Never seen one moving, but there were dozens just sitting all over the grass next to the bike path. I assumed people rode them along the potomac until they ran out of battery and then just ditched them.

The students here have embraced e-skateboards. There aren't any ride share companies that have electric assist bikes. The pedal bike share seems to have some use still.

[redir]

I see lots of scoots in my small college town I think they are cool but I don't like some people leave them all over the place. I was flying around the corner on a bike trail a few weeks back and one was laying right across the trail. Otherwise they are a great way of getting around. I love them when traveling. Was in Salt Lake a couple months ago and it was a great way to get around the city. Much better then the bikes imho.

[SlowPokePete]

I was flying around the corner on a bike trail a few weeks back and one was laying right across the trail.

Into the woods it would go.

SPP

[BobbyJones]

Adam Neumann just walked away from the WeWork debacle with well over a billion dollars in the bank and no jail time. That will be the new benchmark for Unicorn scams. Who cares about operations and profit/loss when you can pull that off.

OT - Curious about your thoughts about the "jail time" comment? Why would / should jail time even be part of the conversation?

[Red Tornado]

I think this whole e-scooter thing has seen its fifteen minutes. I was just in Italy for a month, and did not see one, but, a year ago, they were all over the place in Spain. Maybe members here could chime in in their sightings.

If I had to put my money down, I'd say e-bikes, especially fairly rugged all purpose bikes, are the future, along with small Vespa like e-scooters. Bike sharing seems to have seen it's time, too.

I agree with this.

Also, last summer the wife & I were in San Antonio. Those flippin scooters were everywhere and I lost count of the near misses I witnessed them having with pedestrians, bikes and cars.

[Hellgate]

Austin is swimming in them. They can't go away soon enough.

[cmg]

the scooters are still here in SA. The tourist love them. City council has put more restrictions. i don't believe Bird made the cut but there's plenty of companies that want to join the fun.