Why Do Micromobility Companies Keep Losing Money?

The micromobility movement is bleeding money. But does that mean there’s no future for bike- and scooter-share on American streets?

Of course not, but that’s the question many advocates are asking themselves after a rash of disappointing news in the sustainable transportation tech sector. Lime made national headlines when it announced last week that it was laying off 100 employees and pulling out of 12 city markets to “shift [their] primary focus to profitability.” And it’s not just the private-market giants that are struggling to make the numbers work; San Antonio’s bikeshare non-profit, San Antonio Bikes, just became the latest city-supported program to fall into jeopardy when its exclusive title sponsor unexpectedly opted out of its contract.