Wayne Ting

And there's a competitive RFP process through that pilot where you maybe do a one-year pilot or a two-year pilot, and they invite multiple players to come and compete in that competitive RFP. And we actually like the competitive RFP process for two main reasons.

One is that it actually naturally reduces the number of competitors you have in a city because the city is not gonna pick 20 different players. They're gonna pick between one and three. And the second thing that we like about it is Lime is really, really good at winning competitive RFPs. We have a greater than 90% win rate of competitive RFPs on a global basis.

One is that it actually naturally reduces the number of competitors you have in a city because the city is not gonna pick 20 different players. They're gonna pick between one and three. And the second thing that we like about it is Lime is really, really good at winning competitive RFPs. We have a greater than 90% win rate of competitive RFPs on a global basis.

One is that it actually naturally reduces the number of competitors you have in a city because the city is not gonna pick 20 different players. They're gonna pick between one and three. And the second thing that we like about it is Lime is really, really good at winning competitive RFPs. We have a greater than 90% win rate of competitive RFPs on a global basis.

And we renew our permits at a greater than 95% rate.

And we renew our permits at a greater than 95% rate.

And we renew our permits at a greater than 95% rate.

The competitor that I spend most of my time thinking about is the car. The car is our biggest competitor. The majority of car trips are under five miles in cities. The most common number of people in a car is one person.

The competitor that I spend most of my time thinking about is the car. The car is our biggest competitor. The majority of car trips are under five miles in cities. The most common number of people in a car is one person.

The competitor that I spend most of my time thinking about is the car. The car is our biggest competitor. The majority of car trips are under five miles in cities. The most common number of people in a car is one person.

If we can convince all the people driving for three miles, four miles by themselves to give up that car and use a bike and scooter instead, that is the biggest opportunity for growth. And that is our biggest competitor. How much does it cost to launch London? To launch a city probably doesn't cost that much. You need to get a warehouse. So there's some costs upfront.

If we can convince all the people driving for three miles, four miles by themselves to give up that car and use a bike and scooter instead, that is the biggest opportunity for growth. And that is our biggest competitor. How much does it cost to launch London? To launch a city probably doesn't cost that much. You need to get a warehouse. So there's some costs upfront.

If we can convince all the people driving for three miles, four miles by themselves to give up that car and use a bike and scooter instead, that is the biggest opportunity for growth. And that is our biggest competitor. How much does it cost to launch London? To launch a city probably doesn't cost that much. You need to get a warehouse. So there's some costs upfront.

You need to buy the scooters and bikes. You need to hire an operations team. You have to keep paying them. If there's no revenue, you still have to pay them. So probably tens of millions of dollars to launch a city. But then scaling the fleet over time, there's incremental investments. Maybe you need to get a second warehouse over time. That's when it becomes more expensive.

You need to buy the scooters and bikes. You need to hire an operations team. You have to keep paying them. If there's no revenue, you still have to pay them. So probably tens of millions of dollars to launch a city. But then scaling the fleet over time, there's incremental investments. Maybe you need to get a second warehouse over time. That's when it becomes more expensive.

You need to buy the scooters and bikes. You need to hire an operations team. You have to keep paying them. If there's no revenue, you still have to pay them. So probably tens of millions of dollars to launch a city. But then scaling the fleet over time, there's incremental investments. Maybe you need to get a second warehouse over time. That's when it becomes more expensive.

That's a great question, Harry. So when I started, the payback was never because we were... The scooters didn't last long enough to pay back the scooter or the bike. By building, investing in our own hardware, focusing in on these game of inches, micro improvements. We want to be 1% better at everything we do.

That's a great question, Harry. So when I started, the payback was never because we were... The scooters didn't last long enough to pay back the scooter or the bike. By building, investing in our own hardware, focusing in on these game of inches, micro improvements. We want to be 1% better at everything we do.

That's a great question, Harry. So when I started, the payback was never because we were... The scooters didn't last long enough to pay back the scooter or the bike. By building, investing in our own hardware, focusing in on these game of inches, micro improvements. We want to be 1% better at everything we do.

And when you do a thousand things 1% better, you now have a very different business than all your competitors. When we deploy, and this is pretty consistent in big cities, small cities all around the world. When we deploy our hardware, we can pay back within the first year. And it lasts for more than five years from the 30 days I was describing before.