http://shanghaiist.com/2017/06/20/bike-sharing-business-loses-bikes.php
While the Chinese bike-sharing business has exploded in popularity over the last year, it's still not clear if the industry's incredible success is sustainable or profitable. Case in point: Chongqing startup Wukong Bicycles. Despite being named after the immortal Monkey King of Journey to the West fame, Wukong is out of business after just six months, teaching other companies in the industry a valuable lesson: always put GPS on your bikes. In only half a year, Wukong lost 90% of its bikes (presumed either missing or stolen). According to Caixin, by the time that founder Lou Houyi decided that GPS devices were necessary, the company had run out of money, becoming the first casualty of China's shared bike boom.