Last week the transportation rumor mill pumped out a story that ride-hailing company Lyft is acquiring Motivate, the bikeshare operator behind New York’s Citi Bike, San Francisco’s GoBike, and Chicago’s Divvy Bike. The deal, which was first reported late last week by The Information, is said to be in the range of $250 million.
I’m not sounding the alarm over a $250-million acquisition, but it is worth examining how consolidation in the private transportation sector will affect the public. After all, monopolies in agriculture and healthcare have led to higher pricing, artificial demand, and antitrust strategies like price-fixing.
More important, isn’t this a variation of the plot of Who Framed Roger Rabbit?