The Twenty Minute VC (20VC): Venture Capital | Startup Funding | The Pitch
20VC: Lime's CEO on Going from Losing $3 on Every $1 to $90M in EBITDA | How Lime Built the Global Leader in Micromobility When Competitors Went Bust | Losing 90% of Revenues in COVID and The Uber Deal That Saved the Company with Wayne Ting
Wayne Ting
But if you walk out of your apartment, when you need transportation, you can't get it, It's very, very hard for you to give up your car and to ride bikes mostly. So reliability is crucial. This is why when we increase our fleet in a market, we actually see our trips per vehicle per day go up. Our utilization goes up. It's counterintuitive.
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