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Private alternative to T buses shuts down
By adamg on Sun, 04/30/2017 - 7:39pm
Bridj, which set out to develop a new form of urban mass transit, is no more, according to the notice on its home page from CEO Matt George, titled, "Out of Aces:"
Today, our journey unexpectedly ends. After three years and millions of passenger miles as the largest operation of our kind in the country, Bridj is winding down. You've been an integral part of our journey, and we want to give you some background on how we got here.
We made the strategic choice to pursue a deal with a major car company who promised a close date for a sizable transaction in lieu of a traditional venture capital funding round. The close date timeline extended from weeks to months, as they sought to gain the appropriate internal approvals that we (and they) thought were already in place. Throughout, we remained convinced of the close strategic fit and both sides had every expectation that the transaction would close. Despite assurances, and all parties acting in the best of faith, that didn’t happen.
Via Boston Reddit.
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Comments
Not surprised.
With limited financing, they were squeezed between two well capitalized alternatives. The mbta was cheaper, and uber was more convenient.
I would be curious to see a post mortem on their Kansas pilot program though...
Kansas City post mortem
How a Failed Experiment Could Still Be the Future of Public Transit.
Private Mass Transit
This shows how the private sector can't sustain public transportation, even when they get to set all the rules. It's a shame they went under but not entirely surprising. People who claim the T should be self-sufficient should learn from this failure.
Such a bad
Comparison, you're completely omitting how each is funded the subsidies which the T receives. Privatizing parts of the T doesn't remove tax money from the equation and therefore isn't remotely the same as a private transportation company.
No, I'm specifically including the subsidies
Bridj didn't have non-fare funding which would have allowed then to bridge the gap between revenue from fares and cost of operations. If the T had to be run solely on fares it too would need to stop operating.
Also, I'm not talking about privatization of T operations, I'm addressing the nutty concept that the T should be able to run without any public subsidies.
The T used to be entirely
The T used to be entirely private.*
The reason private companies like Bridj can't survive is because their competition (the current MBTA) is government-subsidized.
It's a neat trick to justify government-funded services, isn't it? Point at a competitor that can't compete because of their government-subsidized competition, as an example of why such a service can't survive in the first place.
* (And the reason the private trains and subways ultimately failed is because of government funding of the highway system and other public roads.)
Well it still takes money out
Well it still takes money out of the T and into the coffee of a private company. A private for profit company. The T needs all the money it can get and keep in house. Of course it needs better fiscal management amongst many other improvements.
takes money out of the T[ea] and into the coffee?
Sorry, but I just couldn't resist
Not really
I'm guessing that Uber and Lyft pool did far more to make them struggle than anything you claim. Competition from the T also matters, as well from other privatE.
Nothing about Bridj failing/pivoting backs up your unsubstantiated claims.
Mostly it's just important that companies like this are trying (and legally able to do so even if they don't work out — that's how a good economy works)
That way, we don't inhibit eventual progress that will undoubtedly come by to improve a century old paradigm.
Maybe I'm misreading your comment, Jeff-
But the T, and funding for the T, has changed and evolved a lot over the past 100 years.
Maybe you didn't intend this in this way, but often people insinuate that tasks performed by public agencies or governments never adapt to new times or technology.
Is this it?
Is the new bubble bursting?
No
It's not.
What are the NYC-Boston bus/shuttle transportation alternatives?
What are the NYC-Boston, Boston-NYC bus/shuttle transportation alternatives?... besides from South Station, from Boston Chinatown, from Alewife...
Limo Liner
Leaves from Boston and Framingham (a hotel with parking)
It's pricey at $99 but comfortable. And you get food/refreshments
https://limoliner.com/?gclid=CPu53pLCztMCFQiHswodzJ0Imw
Charles Chieppo? Jim Stergios?
Crickets....
"We made the strategic choice
"We made the strategic choice to pursue a deal with a major car company who promised a close date for a sizable transaction in lieu of a traditional venture capital funding round...Despite assurances, and all parties acting in the best of faith, that didn’t happen."
In English: they made a bad deal instead of getting money like everyone else does and they went broke.
oh.....
so that's what bridj was
Can't Afford the Drivers
They are gonna wait it out until driverless cars make it an economical option.