39: The Market for Owned Micromobility :: Jeff Russakow, CEO of Boosted
In this episode, Oliver interviews Jeff Russakow, CEO of Boosted Boards, makers of the famous electric skateboards and now scooter. Boosted focuses on vehicle-grade owned micromobility, which provides a refreshing counter to the hype around shared models. It’s one of our best episodes to date—highly recommend checking it out!
Specifically we cover:
the origins of the company, and how it proves out Horace’s early thesis on the disruptive potential of modularized componentry.
Jeff’s history with lightweight electric vehicles and his eventual coming to Boosted
How they think through their role as manufacturing ‘vehicle grade’ vehicles in the micromobility space, and how this differentiates them from other manufacturers
how their customers use their products - hint: 82% of their customers use them for their commute.
How they think through shared services vs. the owned micromobility market, solving the job-to-be-done of travel and why they’re doubling down on personally owned vehicles
Why they consider their competition the car and not other scooter or board manufacturers.
How they think about safety, why shared scooters have given a lot of people the wrong impression about what micromobility safety can be, and the standards that they build their vehicles to.
How they think about infrastructure for these lightweight vehicles, and where the opportunities are for regulators to harness the benefits.
The challenges that they’ve faced scaling to being a global, growth stage electric vehicle company.
How the venture capital community have viewed them vs shared micromobility.
Hints at their product pipeline and what they find interesting.
“What are your options? You can buy a vehicle like ours and you're down to two dollars a day for unlimited mileage and no parking. You can pay $2 a mile for scooter or car share, or you can take your car - it's 40/50 cents a mile between insurance and depreciation and then parking could be $30 a day. So quite literally buying a premium scooter is the cheapest thing you can do.”
“It’s been fun for us with the scooter shares because somebody is spending a billion dollars of somebody else's money to put free demos on every street corner on the planet and educate people to the value of these vehicles. There's a bunch of people say, ‘this is great.’ I'm going to use sharing and that's awesome, and then there's a bunch of people who say I like this so much, I’m going to buy one. If they want a vehicle grade one, there's only one. So we're in an interesting market spot.”
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