Podcast Summary
Discussing the Oslo bike, a new electric bike from Karmic Bikes: The Oslo bike, a new electric bike from Karmic Bikes, is gaining attention for its sleek design and impressive speed, offering a viable solution to reduce traffic and promote sustainable transportation in cities.
Micro mobility, specifically electric bikes, is an effective solution to reduce traffic congestion in cities. Hongquan, the CEO and co-founder of Karmic Bikes, discussed his company's new Oslo bike, which is designed to be better, faster, and cheaper than traditional bikes and scooters. The Oslo bike is the third public version from Karmic Bikes, and it's gaining attention for its sleek design and impressive speed. The bike is a response to the growing need for alternative transportation methods as cities become increasingly congested. California's e-bike law, which covers most of the US population, allows cities to decide who can use e-bikes and where, highlighting the importance of these types of vehicles in urban areas. Overall, micro mobility, particularly electric bikes, is a game changer for cities and offers a viable solution to reduce traffic and promote sustainable transportation.
California Classifies E-bikes into Different Classes: California classifies e-bikes into three classes based on speed and pedal assistance. Class one requires pedaling, class two allows for throttle use, and class three does not require pedaling at all. Regulations and licenses may vary depending on the jurisdiction.
California has classified electric bikes into different classes based on speed and pedal assistance. Class one e-bikes have a maximum speed of 20 miles per hour and require pedaling to engage the electric motor. Class two e-bikes also have a maximum speed of 20 miles per hour but allow the use of a throttle without pedaling. Class three e-bikes have a maximum speed of 28 miles per hour and do not require pedaling at all. Class one e-bikes can be used anywhere a regular bike can go, including national parks. Class two e-bikes are similar but allow for throttle use. Class three e-bikes are faster and may require different regulations or licenses depending on the jurisdiction. Despite the differences, all e-bikes still have pedals and are considered bicycles, not scooters, in California. The classification system can be confusing, but it allows for varying levels of electric assistance and speed on bicycles.
Legal restrictions and affordability hinder the popularity of e-bikes in the US: The US market for e-bikes is challenged by legal restrictions limiting speeds and high prices, making them less competitive than other alternatives.
Despite the potential for high speeds and popularity of electric bikes (e-bikes) in other countries, legal restrictions and affordability are major challenges in making them a phenomenon in the US. Hongquan, the founder of karmic.cc, which manufactures e-bikes, explained that while some models can reach up to 28 mph, the law only allows for a maximum speed of 20 mph. Removing the governor to increase speed is possible but not recommended. Additionally, the average price of a premium e-bike in the US is around $2,500, which is more expensive than other alternatives like scooters or even two Honda Vespas. To compete, karmic.cc set a price point of $1,500 for their e-bikes, which they can still make a profit on. Despite these challenges, the goal is to sell a large volume of e-bikes to make up for the lower profit margins. The lack of popularity of e-bikes in America compared to other countries remains a mystery and will be explored further in the episode. For those looking to start a project, business, or website, Squarespace was recommended due to its beautiful, customizable templates and powerful e-commerce functionality. With a free trial and a discount code for a first purchase, it's an attractive option for those looking to create a professional online presence.
From heavy hub motors to premium mid-drive e-bikes: The transition from heavy hub motors to premium mid-drive e-bikes in the e-bike industry has led to improved ride quality and stability, but comes with a higher price point.
The evolution of e-bikes from commodity products with heavy hub motors to premium options with mid-drive motors has significantly improved ride quality and stability. The speaker, a bootstrapper in the e-bike industry, had been selling bespoke bikes with big battery bricks for years before developing their own premium e-bike, the Oslo, featuring a mid-drive motor and modern battery. This transition required a greater investment in industrial design and unique components, resulting in a higher price point. The Oslo is currently available for preorder at $1500, with plans to potentially increase the price or decrease it after the founder editions sell out. The e-bike industry in America has not yet fully embraced e-bikes due to their relatively high price point compared to the cost of public transit and the need to convince consumers of the long-term cost savings. However, for those with consistent commutes, an e-bike could potentially pay for itself within a year through commuting cost savings.
E-bikes gaining acceptance in bike industry: Initially resisted, e-bikes now make up a large portion of bike shows in Europe, popular for commuting. US cities adopt bike-friendly initiatives, driving e-bike adoption. Karmic Oslo's innovative design and centralized battery placement aim to expand e-bike appeal.
The e-bike industry faced initial resistance from the traditional bike industry due to skepticism and negative perceptions. However, as the popularity of e-bikes soared in Europe and Asia, the industry began to shift its stance. Now, e-bikes make up a significant portion of bike shows in Europe, where they are widely used for commuting due to extensive bike infrastructure and safety measures. In the US, cities like Palo Alto have implemented bike-friendly initiatives, leading to high adoption rates among students. The Karmic Oslo e-bike, with its innovative design and centralized battery placement, aims to make e-bikes more accessible and appealing to a wider audience. Despite competition from larger companies with significant resources, the Karmic Oslo team is confident in their unique approach and the growing demand for e-bikes.
Save time and money with Pitney Bowes Send Pro Online: Founders can efficiently print and ship labels, purchase stamps, access USPS savings, and receive tracking and email notifications for as low as $4.99 a month.
Founders can save time and money by using Pitney Bowes Send Pro Online to print and ship labels, as well as purchase stamps from their desk for as low as $4.99 a month. This service also provides access to USPS savings for letters and priority mail shipping, tracking, and email notifications. Additionally, Quan from Karmic Bikes shares that they decided to sell their new bike model, the Oslo, instead of leaving them on the street due to the negative unit economics of scooter startups, which involve selling something that costs more than it does to produce. These companies have been struggling to break even, with Bird being the only one starting to turn a profit.
Balancing licensing fees, affordability, and profitability for scooter companies: Scooter companies must explore new hardware and charging solutions to reduce costs and become profitable while maintaining affordability and convenience for riders.
Scooter companies face a challenging balance between covering licensing fees, maintaining profitability, and providing an affordable ride option for customers. Currently, the cost of licensing fees per scooter ranges from $50 to $100 annually, making it essential for companies to keep ride costs low to attract riders. However, the cost of charging and maintaining scooters, particularly the operational costs associated with nightly charging, significantly impacts profitability. The current hardware, such as Xiaomi or Segway units, requires scooters to be taken in for charging every night, resulting in high labor and infrastructure costs. To become profitable, scooter companies need to explore new hardware solutions, reduce charging and maintenance costs, and potentially implement public charging networks. This could involve partnering with businesses like Starbucks to create charging stations, providing an additional benefit for the business and reducing operational costs for the scooter company. Ultimately, success lies in finding a balance between affordability, convenience, and profitability.
Exploring a new pricing strategy for Bird scooters: Bird could profitably shift to a Peloton-like subscription model with a monthly fee for access to a fleet of scooters, but would need a big partner to implement necessary systems and potentially still face theft risks.
Bird, a scooter rental company, could potentially make a profitable business model change by implementing a new pricing strategy and business approach. The discussion revolved around Bird paying $5 to $20 per charge, requiring riders to be 18 years old, and dropping off screws for broken scooters between that price range. The rap poetry shared during the conversation highlighted the challenges of micromobility and the need for a more sustainable solution. A potential solution could be a Peloton-like bottle model, where customers pay a monthly fee for access to a fleet of scooters. This model could work if Bird can secure a big partner to help implement the necessary systems, such as a comms module and integrated locking, to prevent theft. The speakers also mentioned the possibility of using a low data connection for a dollar a year or less. However, they acknowledged that there would still be a risk of theft without proper security measures.
Discovering a Durable GPS-Enabled Bike for Rough Areas and a Transparent Team Management Software: A durable GPS-enabled bike is introduced for tough terrains, while Monday.com, a team management software, increases transparency and accountability with real-time project tracking and a 14-day free trial.
The discussed product, a lighter GPS-enabled bike, is designed to be durable for rough areas like the Tenderloin, and it's not intended for resale due to its unique features. Meanwhile, Monday.com, a team management software, was highlighted as a tool that increases transparency and accountability within organizations by allowing team members to collaborate on projects and track progress in real-time. The software is popular among startups and offers a 14-day free trial, with a 10% discount using the promo code "twist." Monday.com also acts as an escrow service for a peer-to-peer sports betting marketplace, Zen Sports, ensuring fair play and handling the financial transactions between users.
Decentralized Sports Betting Platform with Global Access and Lower Fees: A decentralized sports betting app uses a stablecoin and utility token, offering global access, lower fees, and community-based settlements, currently available in over 100 countries, with ongoing regulatory efforts in the US.
The discussed platform is a decentralized sports betting application built on cryptocurrency, allowing global access to wagering markets with lower fees compared to traditional sports books. The platform uses a stablecoin and a utility token, with a rake of 0% to 4% on betting volume and a 5% fee on currency exchanges. The decentralized nature of the platform enables a global audience, and bets are settled based on community voting, with potential penalties for dishonest behavior. The team has spent over a year on regulatory licensing and launched the peer-to-peer app five months ago, currently available in over 100 countries. Despite the progress, the US regulatory landscape remains less permissive compared to other regions.
Progress of online sports betting in the US: Despite challenges with tech giants and public stigma, online sports betting in the US is progressing, with some states making it mobile and accessible, but it may take up to two years for full implementation.
The legalization and tech integration of online sports betting in the United States is progressing, but it's not an overnight process. With 14 states having legalized cannabis but not making it tech-friendly, it may take another year and a half to two years before online sports betting becomes fully mobile and accessible in the US. However, securing approval from tech giants like Apple and Google for betting apps presents a significant challenge for startups in the industry, particularly when it comes to fundraising due to the stigma surrounding vice tech. Venture capitalists and investors are hesitant to shift their focus from previously agreed-upon investments, fearing negative publicity and potential backlash. Despite these challenges, the industry is making progress, and as technology continues to advance, the integration of online sports betting into everyday life may become a reality.
Cautiously Investing in Non-Traditional Industries: Approach non-traditional investments with caution, strategy, and a commitment to fair business practices. Consider avoiding consumer contact and utilizing accelerator programs to build credibility.
When investing in non-traditional industries or categories, it's essential to approach it cautiously and strategically. The speaker shares his experience with investing in the cannabis industry through a B2B marketplace, avoiding consumer contact, as the safest bet. He also emphasizes the importance of understanding the risks involved and having a clear vision for the future. Additionally, he suggests considering accelerator programs as a way to gain access to the establishment and build credibility. The speaker also commends the interviewee for building a utility token that is actually being used in their app, unlike many others that have been criticized for fraud. Overall, the key takeaway is to approach non-traditional investments with caution, strategy, and a commitment to fair business practices.
