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Bird Goes Bankrupt. What Company Will Blink Next?
Dec 22, 2023
In an emergency podcast episode, guest Prabin Joel Jones and James Gross discuss Bird's bankruptcy and the challenges faced by shared micromobility companies. They explore the implications for the industry and opportunities for new companies. Topics include market entry strategies, scooter lifespan, competitive advantages, and potential acquisitions.
01:05:51
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Quick takeaways
- Shared micro-mobility companies with bloated organizations and high cash burn rates are struggling to survive.
- Vandalism and theft pose significant challenges for the viability of shared micro-mobility companies in certain areas.
Deep dives
Bird files for Chapter 11 bankruptcy
Bird has filed for Chapter 11 bankruptcy in order to restructure and potentially continue operating. The company had limited cash left and needed to raise funds to survive. The acquisition of Spin from Tier was seen as a strategic blunder, as it added more financial strain. The shared micro-mobility market is a high volume, low margin business that is not easily sustainable with traditional venture capital funding.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode