The Startup
Published in

The Startup

Austin Zheng

Nov 8, 2019

6 min read

How to Burn $2 Billion in 15 Months for Dummies

With 2 billion dollars, you could send the Falcon Heavy to space 13 times, buy 10 state-of-the-art Boeing 787s, provide clean water and food to millions in Africa…. or you could w̶a̶s̶t̶e̶ ̶i̶t̶ ̶o̶n̶ invest it in Ofo, the bike-sharing startup that set off to revolutionize transportation in China. It was adored by investors, consumers, and the government…. *spoiler alert! Ofo is basically dead now.*

On its surface, Ofo is one of the fastest-growing startups, acquiring new users at a speed that’s never heard before. But in reality, all Ofo has done