Micromobility is Good for You — and for the Economy

On a packed single-day visit to London, I found myself with one 90-minute gap between meetings, and about two miles to my next destination. In my travels, I am already conditioned to look first for nearby scooters, bikes or mopeds on shared platforms, and while London does not yet have electric scooters like Birds, or electric mopeds, like those from Maniv’s portfolio company, Revel, it does now have a large number of electric bikes. Seeing one from Uber subsidiary, Jump, I hopped on, listening to Google Maps directions on my Airpods.

A few blocks in, I recalled that since my last visit to London, a theater in the West End district had been renamed for my lifelong hero and longtime friend, the composer, Stephen Sondheim. I would love to see the new signage, I thought. I pulled over and checked the map. It was precisely a mile. But the map also revealed a sea of red — not surprising in London’s congested central area on a weekday afternoon. I would never have made the diversion if I had been in a car — whether a private one, a cab or a ride-hail. I wouldn’t have taken the time to navigate the tube under these circumstances. But on the Jump, one mile represented a five-minute detour.

I was on my way.

I saw the sign; I got the picture, and I reverted to my original destination. Total added time: About 12 minutes; including a little bit of exercise, and some fresh air on a lovely London afternoon.

Some people may use micromobility offerings to replace walking. Sometimes they may be replacing a trip by cab or Uber. But I would conjecture, that like in this case, often people will use micromobility to take trips they would not have otherwise taken altogether. That’s why I have long seen the mobility market as the world’s most elastic — make it a little cheaper, or a little more convenient, and you will always induce greater demand.

Today, that was good for my spirit. In a similar situation, if I had diverted to buy a gift, for example, it would be good for the economy. Either way, it’s a win. And that’s why we will see consumer behavior, and public policy increasingly shifts toward favoring a diverse array of clean, inexpensive, light-weight transport solutions in ever-more crowded cities worldwide.

Ninety minutes between meetings: About 12 on my sightseeing diversion; another 15 to get close to my next destination. And still time enough to write this blog!