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Boss Files with Poppy Harlow

Lime CEO: The Future of Mobility

Boss Files with Poppy Harlow

CNN

Business, Entrepreneurship

4.6538 Ratings

🗓️ 17 February 2020

⏱️ 48 minutes

🧾️ Download transcript

Summary

Lime CEO Brad Bao has scaled the e-scooter company into a multibillion dollar business, but that hasn't come without challenges and concerns around safety, infrastructure and the environment. He opens up about lessons learned in his career, how his upbringing in China inspired his entrepreneurship, and why he wants to get more women in leadership positions and on the board. Produced by Haley Draznin, CNN.To learn more about how CNN protects listener privacy, visit cnn.com/privacy Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

Are we living in the scooter revolution?

0:04.0

We've probably noticed in cities all around the world, electric scooters from San Francisco to Austin, Texas to Paris, and Tel Aviv.

0:12.0

When we started Lyme, we know where the goalpost is.

0:15.1

We know what the future will look like, but we don't know how windy the road could get.

0:22.8

But that excites me. That's Lyme,

0:29.6

founder and CEO Brad Bow. He started Lyme in 2017 as a bike share company, and it has scaled fast and changed a ton. It operates in more than 100 markets across five continents and holds a

0:36.3

$2.4 billion valuation. In fact, Lyme's growth on a

0:41.1

four-ride basis was faster in its early days than Uber and Lyft's entry into ride sharing.

0:46.7

But with all of that growth come challenges. Do you regret anything? Did you grow too fast?

0:53.2

We made a lot of mistake and we learned from it.

0:56.0

In the first few months of 2020, Lyme pulled out of a dozen markets and announced layoffs

1:00.0

as the company confronts questions about safety, infrastructure, and the environment.

1:06.0

Micro-mobility is inevitable, but it's scooter the final ultimate form? Probably not. We're still in the

1:13.4

process of exploring. And in the process of exploring, the best way to learn and to win is to

1:22.0

experiment and fail. Born and raised in Wenzhou, China, Brad says entrepreneurship is in his blood.

1:28.9

Just wait until you hear the fascinating story he tells me about his own town.

1:33.0

He also tells me they need more women at the top of the company, and they need women on the board.

1:38.1

One of the thing we found is we don't understand the woman writers enough.

1:43.5

Let's jump right in with Lyme CEO Brad Bow. Brad Bow, hi. Hey, good morning. Thank you for coming in. Great to be here. We appreciate it. I'm a big fan of the podcast already. You're so nice. Well, you're like the first, well, second one to do it in our fancy new chairs and microphones.

2:01.4

So thank you for being here.

2:02.6

Thanks for coming to CNN.

2:04.2

I was just telling you before we started, this has been a fascinating journey for me getting ready for this interview with you because I don't scoot that much.

...

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