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
When you grow your supply in most businesses, the utilization per unit goes down because the demand usually doesn't go up faster than your supply. But our industry, we see the opposite. As we grow our supply, our utilization on a unit basis goes up because more people now can reliably choose Lime as their transportation default.
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