There seems to be a general collapse of hypercapitalized things that scaled good ideas way too fast, pretending to learn at a rate consistent with rate of expected returns. Blitzscaling = dumbscaling?
Conversation
Why experiment with a couple of dozen scooters in a handful of neighborhoods in 2 cities when you can experiment with thousands of scooters in half a dozen cities at once because capital is cheap? Overleveraged learning plan. Double down before you win etc.
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An idea that’s at least 10x better than taxis and complementary to public transit now looks half as good and needlessly hostile to public transit
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A reasons taxis were "bad" is because they were poorly (e.g. medallion !=driver and tradable) regulated. They were regulated in many places to ensure drivers did not go broke- because taxis are an important part of transit, not because they were making too much money.


