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And don't miss Tim Culpan on Jack Ma's bicycle enabling: "You can't blame Ofo or Mobike for raising and spending money any more than you can blame the fabled scorpion: It's in their nature. But you can blame Jack Ma and Pony Ma, founders of Alibaba and Tencent, for being enablers of this ridiculous craze. It's not that bike rental is crazy. There's a lot to be said for pedal power as a last-mile solution. But the dockless model, coupled with the thousands of bikes being dumped in cities around the world, is making a mockery of the convenience and the environmental credentials of cycling."
This column does not necessarily reflect the opinion of Bloomberg LP and its owners.
Max Nisen is a Bloomberg Gadfly columnist covering biotech, pharma and health care. He previously wrote about management and corporate strategy for Quartz and Business Insider.
To contact the editor responsible for this story: Mark Gongloff at mgongloff1@bloomberg.net.
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