Umbrella-sharing startup fails to predict people would steal all their umbrellas

Yes, even the most honest person on the planet will jack your umbrella, and now we have proof. Sort of. 

It was a noble idea: Bring the same innovation that has made bike-sharing an international success story to all the businesspeople and commuters who need an umbrella when unexpectedly caught in the rain. 

But what China-based startup E-Umbrella didn't count on is the fact that, unlike shared bikes, when someone gets a hold of a good umbrella, they don't really want to let go. According to a report from Caixin Global, the company lost a whopping 30,000 umbrellas after just a few days. Read more...