I guess chinese aren’t quite as moral as the Europeans. They tried to model the Bike sharing programs in europe and another entrepreneur tried to set up umbrella sharing. A 10 Million Yuan investment went up in smoke when the chinese people just took the umbrellas home without paying!
Imagine if they tried it in Africa! Maybe in the middle east where they chop off your hand it might have a chance. The races are very different when it comes to morality.
As pointed out by Sixth Tone, even if Sharing E Umbrella figures out a way to force its customers to return its products, for a business that depends on rain, finding a steady profit might prove challenging. China receives the most rain in the summertime, leaving little interest in the business during drier months. What’s worse, in regions with frequent rain, people are more likely to just buy their own umbrellas
Umbrella renting schemes aren’t the only sharing businesses suffering from problems with theft in China.
Last month, shared-bike startup Wukong Bicycles went out of business in Chongqing after nearly all of its bikes were stolen following just six months of operation. Shortly afterward, Beijing-based 3Vbike followed suit.
So even though it would be nice to grab an umbrella when walking home in a downpour, one thing seems clear: if sharing economy companies don’t change the way that they keep track of their products, they won’t stick around long — whether it rains or not.