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Thread: Death of SpeedX - interesting article

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    Default Death of SpeedX - interesting article

    The birth and death of a bike company: What happened to SpeedX? | CyclingTips

    It's a long read, but I think a lot of folks here will enjoy it. I personally vaguely remember seeing banner ads for SpeedX a couple of years back and never paying attention to them. If I had clicked on them and discovered they were launching their first bike on Kickstarter I would have of course ran away as fast as I could have. I feel bad for the folks that lost a lot of money in the co's demise, but one does have to ask: "what were you thinking?"

    Anyway, enjoy.
     

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    Default Re: Death of SpeedX - interesting article

    What a shitshow. How do you spend that kind of money on a product that doesn't even exist?
    Steve Hampsten
    www.hampsten.blogspot.com
    "Tighten the wingnuts!"

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    Default Re: Death of SpeedX - interesting article

    Quote Originally Posted by hampco View Post
    What a shitshow. How do you spend that kind of money on a product that doesn't even exist?
    ...on a product that can kill you if it's not designed & manufactured properly.
     

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    Default Re: Death of SpeedX - interesting article

    Interesting read for sure.
    Crazy.... Brought to you by the internet..
    " It sounded so great...."

    it just didn't exist.
     

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    Default Re: Death of SpeedX - interesting article

    Quote Originally Posted by SteveP View Post
    Interesting read for sure.
    Crazy.... Brought to you by the internet..
    " It sounded so great...."

    it just didn't exist.
    Well I backed to a few kickstarter/indiegogo in the past. As long as you put money you can afford to lose if it doesn't end well or the product is not to your standard there is no issue with that. You just have to understand that the crowdfunding company only "protect" your money as long as the funding goal is not met. Once the sum is reached you only rely on the company behind the project and the crowdfunding platform only serves as a communication relay.

    But when I read this "... I will be paying this debt off for years. This was supposed to be an end-game bike for me.” then that guy mention he hired a lawyer. Ah ! some people really loves to take a beating and then ask for more.

    The whole story is interesting, how one can lose funding for things that could look mundane to us (the tiananmen part), how mixing up funding/accounting for totally different projects while these should be managed in two separate companies...Not sure I would call Li Gang someone with a prodigious talent. Thanks for sharing.
    --
    T h o m a s

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    Default Re: Death of SpeedX - interesting article

    There's a similar story unfolding in the mtb realm. I can see crowdfunding a relatively cheap gizmo from a start-up but I'm not sure I want to give anything more than a $100 to some random goober promising me the world. I mean I have put a deposit down on a mtb with a mystery delivery date but it was only $20.

    Sick Bicycles - Are Things As Bad As They Sound?
    Sick Bicycle Co Responds to Anger Over Undelivered Frames - Pinkbike
     

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    Default Re: Death of SpeedX - interesting article

    Good read, thanks for posting.

    I've backed many Kickstarters, only encountered one total no-show.

    I think the takeaway could be: There is appetite for something new and different in cycling.

    Imagine if Specialized or Giant or Canyon ran a preorder campaign for a completely novel new bike with a similar description...

    Purely in marketing / go-to-market terms, a Kickstarter or preorder campaign is not radically different than Zank's "I've got a few Max tubesets and I'm only taking X orders..." right?

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    Default Re: Death of SpeedX - interesting article

    I can't imagine risking that kind of money on something that isn't there unless it was something that didn't exist in any other form and it was a matter of life or death. The guy complaining that this was to be the ultimate bike for him? Seriously? There were no other alternatives that weren't just a fantasy?
     

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    Default Re: Death of SpeedX - interesting article

    Quote Originally Posted by TTX1 View Post
    ...Purely in marketing / go-to-market terms, a Kickstarter or preorder campaign is not radically different than Zank's "I've got a few Max tubesets and I'm only taking X orders..." right?
    Having lived through a few dot-com busts myself and watched my "stock options" fade to dust, this is not a surprising story when you factor the hubris of everyone involved (including the backers looking for a deal). The old adage of "If it's too good to be true, it probably is" fits this story very well. Anybody want to but the Brooklyn Bridge because I can get you "such a deal"?

    As for Zank, I am going to assume that your comment was written with a huge dose of sarcasm but the point was made.
     

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    Default Re: Death of SpeedX - interesting article

    Quote Originally Posted by TTX1 View Post
    ...

    Purely in marketing / go-to-market terms, a Kickstarter or preorder campaign is not radically different than Zank's "I've got a few Max tubesets and I'm only taking X orders..." right?
    I don't think you can separate credibility earned in the market after many years of investing real blood and sweat to build a name, even for a theoretical analogy.
    Jorn Ake
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    Default Re: Death of SpeedX - interesting article

    Thanks, friends.

    I wrongly assumed that Mike's unassailable reputation could withstand a convenient / tongue-in-cheek analogy.

    If you can name a builder with a weak reputation who recently implemented a pre-order campaign, we can substitute names.

    Good plan?

    The larger points remain.

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    Default Re: Death of SpeedX - interesting article

    that's crazy. One of my bikes to work on this week at the shop was a build from the box SpeedX. It wasn't a crappy bike fwiw, though the phone cord power line coming out of the seat tube had me scratching my head at first, as the box was too light to be an e-bike!
     

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    Default Re: Death of SpeedX - interesting article

    Hey- It's not too late to get in on a Leopard! https://www.ebay.com/sch/i.html?_fro...opard&_sacat=0
    Rob Segal
    Built my first one back in '77

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    Default Re: Death of SpeedX - interesting article

    Thanks for the link. It was an interesting read.

    The Tiananmen connection was interesting. Given the tight control that the Chinese government has on information and history textbooks, it is quite possible (maybe probable) that the CEO and the young people working for SpeedX had no idea that an image of tanks in Tiananmen had political context. Sad that this contributed to the company's downfall.
    Jonathan Lee
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    Default Re: Death of SpeedX - interesting article

    Quote Originally Posted by Dancingbear View Post
    Hey- It's not too late to get in on a Leopard! https://www.ebay.com/sch/i.html?_fro...opard&_sacat=0
    It must have been difficult to photograph with the seatpost (since it kept slipping).
     

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    Default Re: Death of SpeedX - interesting article

    Quote Originally Posted by Dancingbear View Post
    Hey- It's not too late to get in on a Leopard! https://www.ebay.com/sch/i.html?_fro...opard&_sacat=0
    interesting copy from the eBay listing:
    Made by Factor, Guru Manufacturing

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    Default Re: Death of SpeedX - interesting article

    Quote Originally Posted by TTX1 View Post

    I think the takeaway could be: There is appetite for something new and different in cycling.

    Imagine if Specialized or Giant or Canyon ran a preorder campaign for a completely novel new bike with a similar description...

    Purely in marketing / go-to-market terms, a Kickstarter or preorder campaign is not radically different than Zank's "I've got a few Max tubesets and I'm only taking X orders..." right?
    Agreed there is a market for something different and I do credit SpeedX for having a go at it. If Spesh et al tried to do a similar thing I would support them (though probably not buy the product): they are trying something new and interesting, but they CAN deliver on the idea. This is what you are getting at if course.
     

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    Default Re: Death of SpeedX - interesting article

    Quote Originally Posted by TTX1 View Post
    Thanks, friends.

    I wrongly assumed that Mike's unassailable reputation could withstand a convenient / tongue-in-cheek analogy.

    If you can name a builder with a weak reputation who recently implemented a pre-order campaign, we can substitute names.

    Good plan?

    The larger points remain.
    Eh, I probably took it too seriously, but I was just worried that someone running a search for Mike out of a lack of familiarity might bump into this thread and infer Mike was somehow suspect. Our analogy is the internet's innuendo? That sort of thing. Anyway, carry on.
    Jorn Ake
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