Do The Right Thing

The whole industry has been around, the bike industry has been around for about 200 years. The bike rental business has been around roughly about 200 years. Nobody insured the users. And we look at it legally, no, that's not required, right, for all the historical reason that insurance is not required for bike rentals and scooter rentals. But is that the right thing to do? I don't think so. So we were the first one that actually bought insurance for our users to champion that in the entire industry. Now it becomes more and more standard for every single company that follows into it. They should provide insurance. Do we incur more cost? We can't even find an underwriter. When we talk to the insurance company, they were like, what are you talking about? There's no such a thing in the history. We never write. Underwrite a bike rental insurance. It just never be required, and nobody proactively provided, and we did. We provided also cash payment for the non-smartphone, the non-banking users. And analysis shows we're not going to make any money out of it, but that's the right thing to do. And same as why we further enhance our products, why we added advanced safety features to it. And those are the things that if we look at short term, it's not necessarily help us in the typical fundraising things or that, right? But that's the right thing to do, and that's what we did. And with bracketing there that we don't know all the time what is the right thing to do, right? We try, we learn, we fail, then we correct them. But at least one thing we know is what is the wrong thing to do, not to do. And one of that is if the vehicle is not safe, we shouldn't put on the street. And we should correct any mistake that we found as soon as possible. So I think that is one of the guiding principles for, at least for me as a person, and hopefully for my team.