Here at Hustle Fund, we’re exactly 1.5 years into our Fund 1 and halfway through our active investment period. We’ve decided to look at our performance and statistics to evaluate how we’re doing.
As it would turn out, we think we are over-indexed on boring things like B2B and fintech companies and do not have enough exposure in the micromobility category. (Those boring B2B companies are just not sparking enough joy.)
So, effective today, we’ve decided to take the remaining half of our fund and start a scooter company.
(Image courtesy of Bird)
Starting today, you will be able to ride a Hustle Scooter (the blue one)! We know that the unit economics of running a scooter company are tough.
And, because we care so much about unit economics, the only times of the day you can use our scooters will be between 9am-11am on Mondays and Wednesdays and when there is a waning moon.
And to keep the scooters charged at all times, you will only be able to scoot as far as the charging cable will extend. Because dealing with charging is one of the biggest challenges in operating a typical scooter company, this will allow us to profitably keep the scooters charged at all times and keep our COGs low.
We are also working on a partnership with both Lyft and Uber to allow riders to ride closely behind their car drivers and charge the scooters using an extended charger that connects to the cigarette lighters of these cars. We expect that by drafting behind cars, we can also cut down on the electricity required per ride. We expect to sign these partnerships any day now.
We believe that this is a bigger opportunity than any of the micromobility opportunities anyone has seen to date and is at least a Hippocorn.
We look forward to ringing the bell with you in New York in the coming years!