London’s Boris bikes cycle hire scheme has cost UK taxpayers nearly £200M

I used an analogous system in another city. I think it's a mistake to be reductionist about the sunk costs when this represents an investment in infrastructure with a longmlife, and boosts tourism. All public transport systems have subsidies.

The competition is frankly a huge mistake. It's messy, it's wasteful, it's competitors for the sake of market forces. Every benefit of the no dock model has a counterweight downside.

I worked out that my decision to buy a home bike will take six years to pay back with a daily commute. The new docking station within 100m of my home turned on two months ago and is well patronized.

So yea, it's a huge dollar sum. I think it was a good investment and I do not see dockless as a benefit.