[microdrum]

Seems to me their business model was faultyfrom the very beginning. For example, they initially claimed 1 week scooter payback to early investors. That was obviously an exaggeration. They also claimed to have market scale economics similar to Uber, but this was also false because the scooters were not being ridden from one micromarket to another. They were just staying in the same area.

There is a reason The Carlyle Group never rolled up all the bike rental shops into a big nationwide conglomerate!!