GoK was once lively, contentious, at times abusive but also interesting, entertaining and always informative. The goal of harmony resulted in policy of forced moderation and eventual censorship. Only approved opinions and discourse was allowed. As the hand on the tiller grew heavier, GoK lost the wind.
Sorry for getting nautical but I bought a home less than a kilometer from the ocean in California and have been relaxing, enjoying my dotage, sailing, and the Kunming like weather here. I miss China and Kunming. American food is boring.
In the US we are being told that getting vaccinated will end the supply chain problem. Biden’s Energy secretary Jennifer Granholm on skyrocketing prices of goods:
"[Economists say] there is a transitory nature to the inflation problem…We wanna make sure we get everybody vaccinated so we can unclog the bottlenecks that we’ve been seeing.”
Found an interesting video (48 min) on the COVID pandemic and the vaccines being pushed. The mRNA vaxx are still experimental and controversy is raging on who should get the shot. I got the two Pfizer shots as I am 78 with additional high risk problems.
This is the link and there are many (100+ ?) links to additional resources.
Geez, what a bunch of sensitive foreigners. Frankly, I love fresh durian, stinky tofu, hotpot and don't mind incense. I like nuoc mam too. Hate to ask but WTF are you guys doing in China?
Now that Bluegogo has gone Byebye, we can get an idea of who made money, and how, providing shared bikes. The unknown is the actual cost of the bikes, A Bloomberg article puts the Bluegogo cost at $400 USD (¥2640) each which I doubt. Mobike says their cost per bike is ¥1000 and other companies say between ¥300 to ¥600 per bike.
Using an exchange rate of 6.6 yuan/1 USD, here is Blugogo's take:
Investors poured in $58.1 Million USD.
20 Million riders forked up deposits, at an estimated ¥99 Yuan each, totaling a cool $300 Million USD.
Cost of 600,000 bikes varies:
Each ¥400 is $36.6 Million USD
Each ¥600 is $54.6 Million USD
Each ¥1000 is $91.2 Million USD
Each ¥2640 is $240.0 Million USD
Net cash flow to the PROMOTERS before salaries, rents and operating expenses
(Investors + Deposit less cost of bikes):
Bike cost each ¥400 is $321.5 Million USD
Bike cost each ¥600 is $303.5 Million USD
Bike cost each ¥1000 is $266.9 Million USD
Bike cost each ¥2640 is $118.1 Million USD
My guess is a bike cost of about ¥600 before kickbacks and over invoicing which leaves more than $200 Million USD for the PROMOTORS. Along the way a bank or two might have made working capital loans and a few nice cars were bought. To lower exposure some stock buybacks from selected investors might have been made. The secrets are all in the books of Bluegogo if they can be found or reconstructed. If I was still teaching Accounting I would use Bluegogo as a teaching tool.
Moral: In China forget profits, look at cash flows, big front money and promotor benefits for quick bankruptcy. Slam Bam, thank you mam, badabing, badabam and Adios!
@vicar: You make a good point and I agree. However, China has invested heavily in lithium battery production and the capacity online is no way near being used.
To me it is pretty much 1-2-3: 1 - China's lack of liquefied dinosaurs, 2 - A strong domestic demand for autos and the ability to meet that demand, and, 3 - A really relaxed attitude toward environmental concerns means lithium battery production is a lower cost deal in China.
Lithium batteries are really nasty things that, besides a tendency to go boom, have a lot of bad news byproducts that are hard to get rid of.
Be aware they will push whatever they are selling. Some of the staff have no idea about the technical side of appliances.
I went there to buy a stove. I repeatedly told them I would be using bottled gas. They sold me a stove. When I went to my local gas guy, I learned there are at least three kinds of gas sold. Luckily, B&Q did not deliver as promised. I went back to the store and discovered they had sold me a stove they needed to be hooked up to the gas main. I got my money back.
The sales lady was almost in tears, 没有问题！I don't know if it a safety or design issue, but I would think B&Q would know and care.
Subway starts at 9am. I have no idea where to catch an airport express bus. Eight taxis refused to go to the airport. After almost an hour standing on Beijing Lu took a black taxi, this dude drives slower than my mother, 120 yuan.
Flight back was delayed so I learned the subway stops running at 6:10pm.
Getting a taxi back was easy, more taxis than customers. Taxi was 87 yuan including 1o yuan toll, airport to Beichen area. Yes, he took a longer route than necessary.
Kunming imagines being a gateway for international travelers. New airport but hard to get to and from it.
Counting down Kunming's Top Ten Smells
Posted byGeez, what a bunch of sensitive foreigners. Frankly, I love fresh durian, stinky tofu, hotpot and don't mind incense. I like nuoc mam too. Hate to ask but WTF are you guys doing in China?
Kunming's bike share options: A user guide
Posted byNow that Bluegogo has gone Byebye, we can get an idea of who made money, and how, providing shared bikes. The unknown is the actual cost of the bikes, A Bloomberg article puts the Bluegogo cost at $400 USD (¥2640) each which I doubt. Mobike says their cost per bike is ¥1000 and other companies say between ¥300 to ¥600 per bike.
Using an exchange rate of 6.6 yuan/1 USD, here is Blugogo's take:
Investors poured in $58.1 Million USD.
20 Million riders forked up deposits, at an estimated ¥99 Yuan each, totaling a cool $300 Million USD.
Cost of 600,000 bikes varies:
Each ¥400 is $36.6 Million USD
Each ¥600 is $54.6 Million USD
Each ¥1000 is $91.2 Million USD
Each ¥2640 is $240.0 Million USD
Net cash flow to the PROMOTERS before salaries, rents and operating expenses
(Investors + Deposit less cost of bikes):
Bike cost each ¥400 is $321.5 Million USD
Bike cost each ¥600 is $303.5 Million USD
Bike cost each ¥1000 is $266.9 Million USD
Bike cost each ¥2640 is $118.1 Million USD
My guess is a bike cost of about ¥600 before kickbacks and over invoicing which leaves more than $200 Million USD for the PROMOTORS. Along the way a bank or two might have made working capital loans and a few nice cars were bought. To lower exposure some stock buybacks from selected investors might have been made. The secrets are all in the books of Bluegogo if they can be found or reconstructed. If I was still teaching Accounting I would use Bluegogo as a teaching tool.
Moral: In China forget profits, look at cash flows, big front money and promotor benefits for quick bankruptcy. Slam Bam, thank you mam, badabing, badabam and Adios!
China considering plan to make Xinjiang desert a new California
Posted byAlien nailed it.
Yunnan scientists find fungus with an appetite for plastic in rubbish dump
Posted byThink: the Andromeda strain
China to phase out fossil fuel cars, boost domestic electric vehicle industry
Posted by@vicar: You make a good point and I agree. However, China has invested heavily in lithium battery production and the capacity online is no way near being used.
To me it is pretty much 1-2-3: 1 - China's lack of liquefied dinosaurs, 2 - A strong domestic demand for autos and the ability to meet that demand, and, 3 - A really relaxed attitude toward environmental concerns means lithium battery production is a lower cost deal in China.
Lithium batteries are really nasty things that, besides a tendency to go boom, have a lot of bad news byproducts that are hard to get rid of.