Another bike sharing company, obike, has folded in Singapore.

https://www.channelnewsasia.com/news/commentary/obike-closure-singapore-bike-sharing-operator-bad-business-idea-10482320

We had stated in 2017 that this bike sharing business concept was flawed but VCs continued to invest in such businesses.

This shows that VCs do not know how to evaluate businesses at all as there are precursory signs of such businesses will flop.

http://sg-stock.blogspot.com/2018/06/bike-sharing-business-concept-is-not.html