In the last year, you may have noticed an influx in electric scooters on your streets. Companies like Lime, Bird, and Wind have dumped thousands of scooters in every corner of cities over the world.
And for good reason: venture capitalists have invested more than $1 billion in the industry so far. This means that as well as expecting severe growth, companies and investors are hoping that the public will continue to embrace these devices.
According to Andrew Hawkins at The Verge, the numbers don’t add up. In this video, he explains how each scooter doesn’t bring in enough money to cover their costs. This means that if the business model doesn’t change soon, we may be saying goodbye to them.
Previously, we have covered another company that couldn’t cover their costs and were forced to change or shut down. Check out the video above and see for yourself.
Do you like using electric scooters in your region? Let us know in the comments.