If you have been in a large city recently, you may have noticed a lot of people riding around on electric scooters. The trend is sweeping across the United States, with large companies investing millions of dollars and dropping hundreds of dockless electric scooters in cities across the nation.
The electronic scooter companies are aiming to reshape how people get around cities by creating a new era of environmentally friendly micro transportation. Bird and Lime are two of the largest electronic scooter companies in the United States, each with valuations of $2 to $3 billion.
The appeal? Both companies offer fairly cheap and convenient services. It costs just $1 to rent an electronic scooter, plus 15 cents per minute. There is no docking station, which means that riders are allowed to just “drop” their electronic scooters as soon as they are done with them. Moreover, the companies require that each rider is at least 18 years-old, and technically requires the riders to use a helmet, although enforcement of the helmet rule is difficult to police.