Aerial photos of China's failed share-cycle scheme show mountains of bikes

The economics of this situation scare me. It's dystopia and until somebody explains how the destruction of capital and even wasted steel and related metals gets back into line, this just looks like lunacy.

Equally, the value of the dentists and lawyers bikes i see down on the Sunday peloton worries me in a different way. Some of these cycles cost more than my car. They have negligible retained value from what I can see, a second hand $2000 carbon fibre wheel depreciates fast.

video flyover

https://www.youtube.com/watch?v=9N1Qxs_KOYo