[jakecrouch]

I would be skeptical of new entrants to scooter / bike sharing. In China, ofo and mobike together captured about 95% of the market. If it were possible to challenge the companies that have reached scale, one would think one of the many dozens of failing competitors in China would have figured out it by now.

[cjhopman]

If there's no moat, there's no reason to challenge the current companies until it's proven that profit is possible.