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mrturdferguson t1_j7urp4p wrote

Never ever ever leave it unattended. $1200 fee on you if it's stolen.

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HashtagDadWatts t1_j7v5g4a wrote

Seriously. Only ride from dock to dock.

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chodthewacko t1_j7v7zjx wrote

And don't get sloppy: The other day I saw a girl get her bike stolen very close to a dock. She turned her back on the bike for a bit (looking for a spot? looking at her phone?) and someone jumped on the bike and took off.

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ar1680 OP t1_j7uu4qu wrote

Yes, stupid mistake on my part completely!

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sirzoop t1_j7v84wc wrote

Might as well just buy a bike instead of using citibike then. Costs way less than $1200

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whateverisok t1_j7vi1hu wrote

Eh, it's the convenience. Your $200-$300 bike (talking super, super cheap prices) is as likely to get stolen as your Citibike.

You'd have to carry around a lock as well and even then, some part of your bike (ie.: a tire) might get stolen.

Dogs love to pee by wherever you park it outside and they're a bit of a hassle to bring into an apartment building (especially if you have to do stairs) - you're constantly worried about dinging walls (including in your room) and it also takes up a decent amount of space

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hosswanker t1_j7vkl9n wrote

I have a bike and still use citibike for some trips. As do most people I know who own bikes

Edit: and none of us would ever leave that citibike unattended.....

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oreosfly t1_j7w54dx wrote

Citi Bikes are NOT worth $1200. They’re junk bikes worth a few hundred at most. I’m pretty sure the only reason why they’re appraised at that value is because it’ll be a felony if you’re caught stealing them.

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whateverisok t1_j7x8hw2 wrote

I don't agree that they're worth $1200, but I could see some understandable claim as to why they're worth that much: technology with the locking, ease of use for every bike rider regarding adjustments and gears, and most importantly, made of the material to weather the outdoors 365/24/7.

They're bikes designed for all-weather purposes, beginners, and expected to get a complete wear down or hit on the ground multiple times.

A $300 bike isn't going to live up to that or if it does, it'll need to replaced very often

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karmapuhlease t1_j7w65tk wrote

Well, if you're responsible you'll never have to pay for a stolen Citibike because you'll never leave it unattended...

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EdgeOrnery6679 t1_j7wo3km wrote

Citibike is cheaper if you dont have any space to keep a bike indoors. In this city your bike will get stolen or have its parts stripped.

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DrWillyTrill t1_j7xlclb wrote

First time I rode a Citi bike, I docked it incorrectly because I didn’t push it in hard enough. Was stolen before I could realize my mistake. Got threatened with the $1200 fee. They eventually reduced it to $200, which still sucks but at least it’s not $1200. Think the $1200 is a scare tactic, but still definitely not worth playing around.

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SaitoPrecise7 t1_j7ycxll wrote

Same thing happened to me! But I got a message saying mine wasn’t docked and I ran back to make sure it got docked. I was so scared that someone might’ve stolen it.

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NotThreeLeafCasaba t1_j7wksgb wrote

How in the world can a bike cost that much? They're not exactly made of titanium.

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teaklog2 t1_j8en5ka wrote

probably based on the expected revenue that particular bike would bring in

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NotThreeLeafCasaba t1_j8ent9q wrote

Then it sounds like accounting fraud and should be illegal.

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teaklog2 t1_j8f0qya wrote

? is how many assets in general are valued

what exactly does this even have to do with accounting…lol

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chuckescobar t1_j7z2wlg wrote

No way those things are worth $1200. The e-bikes possibly.

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teaklog2 t1_j8en6y4 wrote

it’s probably based on expected revenue the bike would bring in

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chuckescobar t1_j8ev3lj wrote

That would be a crazy line of thinking. So if I have a vacation rental that burned to the ground I should be reimbursed future income from the insurance company?

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teaklog2 t1_j8f0yt6 wrote

it’s how things are valued just in general…

and this isn’t an insurance company assessing claims, this is you making a contract with the company by using the product

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chuckescobar t1_j8hpmzy wrote

So if someone accidentally burned down my vacation rental while using it as long as I have the correct verbiage in the contract they have to pay for all future income. Got it

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teaklog2 t1_j8ivjfq wrote

all future income...discounted to present value at a discount rate...

yes, quite literally

So if the house generated $100,000 in rental income annually forever...and the appropriate discount rate is 10%, then yeah they would be on the hook for $1m

In the same vein that in a wrongful termination lawsuit you can receive not just the income from the period you weren't working, but to be compensated for expected future income based on a number of factors.

This isn't some crazy concept dude, its the foundation for valuing literally anything. If I burned down someones rental property I would expect to be on the hook for the present value of future cash flows. Things can be worth more than their material cost my guy. In a similar vein, say you're at a store and you break a lamp costing $10,000. It doesn't matter if the lamp's materials costed $1000...the expected future revenue from selling that lamp was $10,000 which is what you owe. You can't go into a store and break $200 headphones and tell them 'oh well, the material cost of the headphones were only $20 so I'm giving you $20 and we're even'

its literally one of the fundamentals of how you set a price for anything that generates cash flows

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Mammoth_Sprinkles705 t1_j7w2dno wrote

Lol, what a racket.

Those city bikes are prices of shit they are basically $100 Walmart bikes.

If your gonna steal a bike at least steal something decent

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