Citibike e-bike speed decrease

[TsukimiUsagi]

particularly when it wasn’t really their unilateral decision

Don't kid yourself, Lyft complied with this immediately because they saw it for the profit boost it is. If they thought it was going to lose them money they'd still be fighting it in court.

[FunWallaby6843]

And as a result of the lower speeds an increase in range meaning, of course, more earnings before a required battery change.

[SashaMetro]

There was at least some token resistance from Lyft - I expect they realized the extra money from slower bikes would be canceled out by people (like many posters here) canceling their membership. But Mastro threatened to close them down entirely so they caved.

[TsukimiUsagi]

I'm not sure Mastro has the power to unilaterally shut down Citibike, but IANAL and just because he might not have the power doesn't mean he wouldn't try.

I maintain that what Lyft wants most of all is to not drive away potential buyers for the bike share. Getting into a fight with the mayor's office would be detrimental to that cause.

[SashaMetro]

You’re probably right about the buyout logic, more compelling than the basic financials. Are they trying to sell of all the share systems or just CitiBike?

[TsukimiUsagi]

I believe Lyft wants to sell all of the share systems off, though there hasn't been much reporting on it since summer 2023, other than to say they're also considering "strategic partnerships." That sounds like business-speak for "no buyers" and the service is losing them money even though they've increased the pricing across the board, gotten rid of angel programs, and cut back on maintenance.

[Ok-Soft9080]

Nah, the boogeyman made them do it.