Why investors are abandoning ride-hailing and automotive startups because of COVID-19
Once the darlings of venture capital and private equity, mobility and automotive startups are falling on hard times in 2020, thanks to the coronavirus pandemic. With people stuck at home and travel almost eliminated, mobility wasn’t a particularly exciting theme for investors in the first few months of the year, and the money for these startups has been evaporating. The expectation is for the various mobility segments to continue to suffer in the second quarter because of the global recession anticipated in the wake of COVID-19.