The Fall of Shared Bicycles
Just two years ago, shared bicycles were the most dazzling entrepreneurial star in China: investors were scrambling to get in and a year ago, shared bicycles were still considered among the “new four major inventions” in China. However, this rapidly emerging industry has hit the skids.
From 2017 to the beginning of 2018, the bubble in the shared cycling industry burst and many companies shut down. In the past year, more than 50 companies with similar operating models have closed, and the entire shared bicycle industry has almost disappeared. This also symbolizes the disillusionment of the myth of the sharing economy. The ruthless reality has made entrepreneurs and investors realize that the so-called shared economy, which has been popular for four years, is just an exaggerated Internet economic experiment, one that is about to end. China’s Internet economy has entered a bottleneck period, and the industry is in urgent need of rationality and innovation.