Fancy a $675,000 penalty for illegally downloading 30 songs off the Internet? That was the kind of music Boston University graduate student Joel Tenenbaum was ready to face following a July 2009 verdict that found him liable for sharing 30 copyright-protected songs on the popular Kazaa P2P network.
But many in their 20s and early 30s are not buying rosy projections, due to immediate financial pressures and exposure to the longest recession since the 1930s Great Depression.
BikeNow’s product is an automated bicycle-share program for the Boston area, which it positions as a Zipcar Inc.-style service for bikes. Users would swipe a card at a solar-powered station and ride off on one of the company’s bikes. The company says it was formed in response to a city of Boston request for proposals for bike-sharing programs and is modeled on Paris’ Velib bike-share program. The startup plans to roll out 1,500 bikes at 150 locations, translating to 9,000 rides a day. BikeNow plans to generate revenue through subscriptions, helmet sales, rental fees, sponsorships and advertising on bikes and stations.