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E-scooter startups out of luck in New York

(Credit: Andrew Liptak; The Verge)

Governor Andrew Cuomo vetoed a bill that would have legalized electric scooters and bicycles across the state. Although the legislation wouldn’t have allowed scooter rental companies to operate in Manhattan, Cuomo had safety concerns, including the fact the proposed law did not require riders to wear helmets.

Worth Noting: Those who own private electric scooters would have been permitted to ride in Manhattan without the risk of the current $500 fine.

Be Smart: The two major E-scooter startups Bird and Lime have both individually crossed the 10 million ride mark. VCs view these startups as the next Uber or Lyft — the next medium to disrupt urban transportation. Both companies are valued at over $1 billion in the private markets.

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