I never perceived bicycle sharing as a tech company- thousands of investors and billions of dollars thought otherwise in a rush to become tech unicorns. Ofo, the Chinese bike-sharing company grew from obscurity to a valuation of around $3 billion at its highest point. Before the fireworks came to an abrupt halt, Ofo had raised a whopping $2.2 billion. Then, suddenly, its fortunes turned and it found itself close to bankruptcy with hundreds of thousands of lost or broken bikes.… Read more
When “tech” goes bad- law of unintended consequences
