Photo by Brandon Bell/Getty Images
On the surface, electric scooter pioneer Bird filing for bankruptcy would seem to be a nail in the coffin for shared micromobility — that nebulous term often used to describe rentable electric bikes and scooters in cities. After a number of mergers and some bad financial management, the OG scooter company is going belly up. That can’t bode well for the future of scooters in general, right?
But actually, shared electric mobility is doing just fine. Sure, the margins are tight and profitability is still rare, but shared scooter and bike companies are becoming more integral to city life in ways we never thought possible.
The only thing that’s dead is the zero-interest rate-influenced era of unhinged investments and wildly skewed valuations…