Part 7/9:

Bird's quest for growth ultimately led to a grim financial reality. As user engagement declined and prices for rides increased, losses piled up. Despite being a reputable name in the industry, Bird struggled with oversized maintenance costs, high operational expenditures, and decreasing utilization rates. The initial allure of micromobility had morphed into a financial quagmire, with the company's attempts to restructure not delivering the hoped-for results.

A Dismal Outlook for the Future

By late 2023, Bird had declared bankruptcy. After years of financial mismanagement and failed expansion plans, the company had become a shadow of its former self. The dream of a micromobility revolution had faded, with many cities opting to ban scooters altogether.