The sharing economy may be conquering the world but its limits have been demonstrated in the northern English city of Manchester where Chinese cycle hire company Mobike has decided to pull out because of widespread vandalism and theft.
Mobike said that in July alone 10 per cent, or about 200, of its Manchester bikes were stolen or damaged.
While many cycle hire schemes have docking stations where bikes are picked up and dropped off, Mobikes can be picked up and left anywhere. The company, perhaps unwisely, boasted that they were theft and vandal-proof.
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