Many customers owe deposit!
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Serious Ah Tiong Startup OFO Collapsed!
- Thread starter Pinkieslut
- Start date
more to cum.
The business model of such start ups is to con as much as possible. Wonder why even Alibaba invested in such scams
Grab, i believe, is still losing money.
When grab first stated as myteksi in jiu hu, their overheads were low. But investors and seed funds put in billions into the company. It relocated to a tax haven but now, its overheads are high as it hired tech experts and marketing etc to expand. I cannot see how it can breakeven as taxi fares are not paid for in advance like say, airline tickets or hotel bookings.
Airasia, when it started, was just a ticketing website selling tickets one year ahead with no planes.they fund their business by selling tickets at a discount. No need for other investors. Thats what i call a great business model.tgey still have no planes as they sold it off and leaseback.they are now just a website selling plane tickets and managing flights.
Electric scooters better than bicycle and just as cheap to make. Its getting traction in US.
This kind of idiotic rent a bicycle con scheme should banned. Bicycles are dumped around everywhere. There's no control at all. And it's not even profitable for the operators.
Silly man lah you. Profit is just a number. Money in their pockets already, now that is real.
Many Chinese startups use deposits to invest in cryptos.
OFO whacked bitcoins with the deposits from customers. It was easy money when bitcoin raised from US$4000 to US$9000
It is below US$4000 now, so they are sitting on massive losses. The deposit refunds are also forcing them to realize the losses by offloading below US$4000 level.
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