Re:Hit by Big Loss, Bird Seeks $300M in New Funds
by save_ferris on Friday July 12, 2019 @04:16PM
(#20424091)
Eh, I don't agree with this. The issue in your case was that someone didn't properly secure a piece of scrap metal to their vehicle. The fact that China demands scrap metal doesn't seem relevant to me given that this sounds like simple incompetence.
You wouldn't blame the automaker for a drinking and driving incident that resulted in a death, you'd blame the driver.
Re:Hit by Big Loss, Bird Seeks $300M in New Funds
by cyc115 on Friday July 12, 2019 @04:00PM
(#20423940)
Curious why China is named
Re:Hit by Big Loss, Bird Seeks $300M in New Funds
by umeshunni on Friday July 12, 2019 @04:11PM
(#20424049)
There's a lot of cheap money floating around in China as well. This is funding business models like that of Ninebot, who is the manufacturer for a lot of these cheap scooters.
Another Chinese company that had a similar business model is Ofo, which essentially went bankrupt a few months ago after raising over $2B in funding for dockless bikesharing.
The issue is not precisely with Bird, but that the big dogs who fund these companies can produce giant pieces of wasted material thanks to how US and Chinese monetary policy works