This electric scooter scam turned into an international pyramid scheme
What seemed like a too-good-to-be-true opportunity in micromobility has turned into a cautionary tale. The Lightning Shared Scooter Company (LSSC) lured investors with promises of leasing scooters in Asia, offering hefty daily returns to Western investors – often average folks instead of seasoned investors. But now regulators and watchdogs warn it was all a well‑orchestrated scam, leaving victims robbed of millions.
The pitch: Easy money, powered by scooters?
From the start, LSSC presented itself as a legitimate shared-scooter rental company with high demand and even higher returns. Investors were told they’d lease scooters, watch them get deployed in bustling Asian cities, and collect reliable daily pay‑outs. The company sold a dream of passive income from a booming market of micromobility. But in reality, it was all smoke and mirrors.
In theory, as the e-scooters were rented and ridden, the investors would earn money from those scooters. In practice, fake revenue stacked up in the app but couldn’t actually be withdrawn. Making matters worse, the scam relied on its victims also roping in friends, family, or other potential “investors”, functioning much like a pyramid scheme.
To appear legitimate, the company circulated an official-looking SEC certificate, though NBC News reported that upon inspection, the document was riddled with typos, grammatical errors, and other flaws that any due diligence process should have caught.
Countless Americans fell for it, along with the company’s shiny marketing materials and supposed celebrity endorsements. According to the Better Business Bureau (BBB), LSSC’s victims often invested anywhere between $1,000 to a staggering $55,000. And this devastation wasn’t isolated; claims span at least 17 US states.
With mounting complaints piling up, the BBB has issued public warnings to anyone who might be approached by LSSC or similar schemes masquerading as shared-mobility ventures.
The scooter industry has been both glorified and maligned in recent years, from legitimate startups redefining urban transit to watchdogs cracking down on mismanagement and faulty batteries. What’s particularly concerning here is that LSSC weaponized well-known industry tropes: scooter popularity, micromobility returns, and a “global venture” to build credibility.
Ultimately, the Lightning Shared Scooter fiasco reads like a modern-day cautionary fable for investors: brand new names, global promises, and passive-income allure can be the perfect ingredients for fraud.
Micromobility is a bright, evolving industry, and one worth supporting, innovating, and investing in. But as this shadowy tale shows, even in our electric future, scams still require old-fashioned skepticism. So if you’re ever asked to “invest in scooters” – especially in far-off markets – pause, ask tough questions, and remember: not every opportunity is what it seems. And if a “business opportunity” requires signing up your friends and family, run for the hills. Or better yet, scoot there!
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The new T-Roc has finally arrived, bringing some major upgrades. Volkswagen’s best-selling SUV will be available as a hybrid electric vehicle (HEV) for the first time, but there’s more under the hood.
Volkswagen’s best-selling SUV goes hybrid: 2026 T-Roc
Since launching the T-Roc in 2017, VW’s crossover SUV has attracted over two million buyers. Nearly 300,000 drivers in Europe opted for the compact all-rounder last year alone.
Although it’s already Volkswagen’s best-selling SUV, the second-generation T-Roc is an improvement in nearly every way possible.
Volkswagen unveiled the new T-Roc for the first time on Wednesday, showcasing a sleek new design, a revamped interior, and a unique new hybrid powertrain.
The new model retains the classic T-Roc DNA, with its coupe-like silhouette, but Volkswagen has added several new elements to help it stand out from the crowd.
One of the first things you’ll notice is the updated front-end design, similar to VW’s other updated vehicles, featuring all-new LED headlights. The rear receives an added full-length LED light bar with an illuminated Volkswagen logo.
The interior has been “significantly improved,” according to VW. It pulls several features from the larger Tiguan and Tayron models, including driving controls and various profile options.
A newly added feature, which VW claims is also first in its class, is an optional head-up display (HUD) that displays your driving speed, navigation, and more directly on the windshield ahead of you.
The new T-Roc is slightly longer, gaining an additional 12 cm in length compared to its predecessor. At 4,373 mm in length, the 2026 T-Roc is about the size of the Toyota C-HR and Kia Niro. It also boasts 30% more rear cargo space than its predecessor, with up to 475 liters.
Following the updated Tiguan and Tayron, the new T-Roc is the third VW SUV based on its MQB Evo architecture. For the first time, the T-Roc will be equipped with advanced safety systems, including Park Assist Pro.
The new T-Roc will initially be available with two 1.5 L turbocharged mild hybrid powertrains, followed by two full hybrid drive systems. The HEV models will debut on Volkswagen’s advanced new hybrid platform, which will utilize a small electric motor and a gas engine, similar to what Toyota uses.
Pre-orders for the new T-Roc will open in Germany on August 28 with an official market launch scheduled for November. Prices start at 30,845 euros ($35,500) for the 1.5 eTSI base model.
Volkswagen is keeping most details of its new hybrid system secret for now. However, a VW engineer told Autocar it will offer “more than a few metres” of electric range.
CEO Thomas Schäfer added, “The platform can do it all. We can introduce it as we like.” The Golf, Passat, Tiguan, and Tayron are available with PHEVs or mild hybrids. Now, the T-Roc will be offered as an HEV. When will we see the all-electric models? Likely closer to the end of the decade, as Volkswagen plans to use hybrids as a bridge to EVs.
How do you feel about the new T-Roc? Do you like the updated style? I have to say, I’m a fan.
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Environment
Google might lose its $26 billion search deals. Analysts say that could fuel its AI growth
Any day now, a federal judge is expected to issue a landmark ruling that could upend some of the most lucrative deals in Silicon Valley: Google’s default search contracts.
At stake is more than $26 billion a year, $20 billion of which goes to Apple. That’s nearly a quarter of Alphabet’s operating income.
For decades, the Apple-Google pact has helped determine who controls the internet, which is exactly why it’s now in the crosshairs.
U.S. District Judge Amit Mehta ruled last year that Google held a monopoly in search and ads. He’s been weighing remedies since the final phase of the trial wrapped in May, with a separate case on Google’s ad business set to begin next month under a different judge.
While Google risks losing some search traffic and predictability, analysts say Apple could take a bigger financial hit. The impact will hinge on whether Apple lines up new deals and how broadly the ruling applies.
Jefferies analysts say the judge may block exclusive contracts but still allow some payments. Even so, Apple’s pre-tax profits could drop by as much as 7%.
Some economists and Wall Street analysts believe Google might come out ahead in the long run — freed from costly deals that no longer drive demand.
Searching for competition
Barclays analysts said in an August 5 note that if Google were to unwind the payments and contracts, it would still be “nearly impossible” for smaller peers to compete.
Megacap rival Microsoft has poured $100 billion into Bing and hasn’t been able to catch Google’s Chrome.
Apple Senior Vice President of Services Eddy Cue testified during the antitrust trial that no price Microsoft could offer would be enough to justify switching to Bing, because Google delivered stronger results and a better monetization engine.
“I don’t believe there’s a price in the world that Microsoft could offer us. They offered to give us Bing for free. They could give us the whole company,” Cue said.
Apple executives contend that it’s easy for users to switch search engines. Currently, Apple allows Americans to switch to Yahoo, Bing, DuckDuckGo, or Ecosia as their default search engine, but few do.
“I think their search engine is the best,” Apple CEO Tim Cook said about Google in 2018.
Economist Lones Smith, who modeled how people decide which search engine to use, described the phenomenon as a natural monopoly, where scale breeds quality, and quality reinforces scale.
“I don’t understand this deal it has with Apple, because if they didn’t pay Apple $20 billion, do they think that people would really be using another search engine? I don’t see that,” Smith told CNBC.
Smith likened Google to a utility: Breaking it up makes little economic sense.
“How do we get our water, electrical, and all that? We have a regulated monopoly. We don’t go and break it up,” he said. “We understand that there’s an efficient outcome for society, and we just don’t want the water company to be exploiting us.”
From a pure economics perspective, some on Wall Street would argue that the payments look like unnecessary insurance and that Google’s dominance is sticky enough without them.
Data suggests users opt for Google even when there is a choice.
In Europe, where regulators forced users to pick their own default after a European Commission ruling against Google, the company’s market share barely budged, with StatCounter data showing it still hovers around 90%.
Dan Niles, founder of Niles Investment Management, told CNBC that while Europe proves Google can thrive without these payments, the U.S. market moves faster, and what’s next matters more than what’s lost.
“Google to me, quite honestly, once this is done … next year, if they continue down this path, it could be one of the best-performing stocks out there,” Niles said.
Even Google’s proposed remedy points in that direction, allowing shorter default contracts and multiple providers instead of blanket exclusivity, while warning that the bigger risk comes from the DOJ’s push for search data-sharing.
The decision
Former FTC Chair William Kovacic told CNBC that the Justice Department is essentially betting that limiting Google’s exclusivity deals will open the door for new competitors to emerge.
“In part, it’s an act of faith,” he said, though past cases have shown that once barriers are removed, innovation often follows in unexpected ways.
Rebecca Allensworth, a scholar of antitrust and Big Tech, said the payments aren’t necessarily what keep people using Google and likened it to “innovation insurance,” freezing the ecosystem so that rivals don’t have a chance to compete.
“Google fought really, really hard to be able to make those payments,” said Allensworth, a law professor at Vanderbilt. “It makes the industry innovation-proof, in a way. Or at least, if there’s going to be innovation, it’s going to be by and for the benefit of Google.”
Kovacic warned that a Chrome divestiture — one of the more extreme remedies floated — might be more symbolic than effective, calling it “a flashy, shiny object” that wouldn’t do much to solve the issue.
“The big breakup has always been antitrust fascination,” he said. “But you can wonder whether that distracts you from solutions that have more to do with solving the competitive problem that you’ve identified today.”
The DOJ, concerned that Google could repeat its playbook with its artificial intelligence platform Gemini, is also pushing for restrictions on exclusive AI distribution deals — and even proposing data-sharing mandates.
These would force Google to give rivals access to anonymized data about what users search for and which results they click.
But Allensworth emphasized that it’s not a zero-sum game.
“You can have a very strong antitrust remedy … and then two, five, ten years later, that company is actually doing extremely well,” she said. “These are not existential threats to the company.”
AI opportunity
Since 2003 — before the iPhone or Chrome existed — Google’s default search deals with Apple have helped shape the internet. In 2017, Alphabet CEO Sundar Pichai and Cook were spotted sipping red wine at Tamarine, an upscale Vietnamese restaurant in Palo Alto, while their teams finalized one of the most lucrative arrangements in tech: keeping Google the default on Apple devices.
Eight years later, the same two CEOs are still at the helm — but the dynamics have changed. A new era of search is emerging, driven not by contracts, but by generative AI.
Wall Street analysts have considered the upside if Google stopped writing Apple a $20 billion check and redirected that money into AI and cloud, lifting profits while keeping its dominance intact.
“Let’s then assume that Google is limited from paying for search distribution deals, and others can leverage Google’s search tech stack, then what other properties can Google prioritize that may fall outside the scope of these cases?” mused Bernstein analysts in April. “Gemini.”
Niles said that with Gemini the company has a chance to shift from being seen as lagging in AI to potentially offering the strongest product on the market, a change already showing up in benchmark tests.
Pichai said during the trial that he spoke to Cook about adding Gemini to Apple devices but that integration hasn’t yet materialized.
In June 2024, Apple announced the integration of OpenAI’s ChatGPT at WWDC. Apple’s Cue testified that other AI services like Perplexity and Anthropic could also be added to Safari as options.
But neither can touch Google’s scale.
Perplexity reportedly handles 15 million queries per day, compared to Google’s 10 billion.
And Pichai said Google isn’t standing still, testifying in April that AI will “deeply transform” search. Whether that transformation cements Google’s dominance or finally opens the door to rivals is the real test now.
WATCH: Alphabet hits intraday record high on $10B Meta cloud deal, Apple Gemini talks
The Anthbot Genie 3000 brings automated mowing tech to your backyard without the need for old-fashioned perimeter wires. It has GPS-grade precision and AI-powered vision, and I got to check out how well it works. With a mix of impressive strengths and a few growing pains, it’s a compelling entrant in the smart‑lawn space worth a closer look.
Setup and specs
There are a few models in the lineup, ranging from $699 to $1,399. I was testing the larger battery version since my parents have some land, and the extra battery makes quicker work of larger plots.
Unboxing the Genie, you’ll find the mower, charging base, RTK GPS station with pole (the mushroom-looking thing), power cables, spare blades, tools, and a quick‑start guide. Unlike some electronics I’ve set up, the quick start guide was actually really well laid out and useful.
The three models in the Genie line:
- 600 – up to ~600 m² (0.22 acres)
- 1000 – up to ~2,000 m² (0.49 acres)
- 3000 – up to ~3,600 m² (0.89 acres)
The 3000 bumps up the battery to 10 Ah, but they all share the same core specs: a 20 cm (7.9 “) cutting width, adjustable electric deck height (30–70 mm or 1.25 to 2.75 inches), IPX6 waterproofing, and the ability to handle steep slopes, though my Florida testing didn’t exactly put the hill-climbing claims to the test.
Navigation and mapping
This is where the Genie shines. The combo of full‑band RTK GPS plus four AI‑driven cameras enables wire‑free navigation. That means no boundary cables, freeing the mower from the biggest problem with old-fashioned alternatives. Instead, GPS-based boundaries set the limits and your mower is free to do its thing without worrying about a boundary wire breaking one day and your mower making a run for the county line.
Mowing occurs in mostly clean, straight lines, avoiding the chaotic randomness older robot mowers often exhibited. It did seem to have a few areas where it missed on the first run, though it actually went back and got them (mostly), and that got better on subsequent mowing sessions.
Obstacle avoidance is solid. Within its 300° camera field, it claims to detect upwards of 1,000 common objects, sidestepping everything from garden hoses to pets. For me, the occasional potted plant or other obstruction in the yard was pretty easy for the robot to spot.
There are even headlights that seemed quite bright at night (and the very quiet electric mowing meant that it doesn’t disturb anyone when mowing at night).
App and smart features
The Genie app is used for setup and lets you define many different mowing zones, draw no‑go zones, tweak cutting height, schedule operations, and monitor battery and progress live, even when you’re away. During setup, I did find that I had to move the mower closer to my router for it to successfully update its firmware, but afterwards it was fine just stealing some signal that leaked out the walls of the house. I guess for the bigger download, it wanted the stronger signal closer to the router.
There are also anti‑theft features, including device‑binding to your Wi‑Fi and account, and a PIN lock so that someone else can’t just take and use your robot. That may be a concern if you live in an area with lots of neighbors, but out in the boonies, I don’t think anyone is looking for robo-mowers.
Performance and real-world use
The first thing that impressed me about the Genie is how quiet it is. They say it runs at about 58–66 dB, whisper-quiet under normal conditions. You can literally hear the individual grass blades being cut – something I’ve never heard before in all my gasoline-powered mowing years.
The battery seems to last for around 450 to 500 m2 of mowing, or around 3-4 hours, depending on how thick the grass is in that section. Then it returns home to recharge and starts up again where it left off. The mowing width might seem hilariously narrow, just 7.9 inches. But since you’re not actually the one mowing, it doesn’t really matter. My robotic vacuum also has a very narrow vacuum width, but I’m not the one walking around vacuuming, so what do I care? The passes all seem straight and good-looking, so you still get the nice lawn stripes look, though they’re a bit narrower.
The robot performs quite well, and it fulfills my goal which was to make it easier on my 70-year-old parents. It’s not perfect at edging, but if my dad can do 3 minutes of cleaning up along the fence line once in a while instead of an hour of lawn mowing, that’s a major improvement for him.
I don’t know how long these little razor-style blades will last, though they’re pretty cheap and easy to swap out. And I do wish the company made the cable longer between the RTK mushroom and the mower’s base station, so you can get the RTK out a bit further if you need it, but I found a spot that seemed to work for optimal signal for me.
I would say that the Genie 3000 is great for anyone who wants an easy setup process and wire-free operation. There’s no boundary wire to install or to check for breaks. It just works (as long as you have a clear view to the sky for the satellites). But if you’re trying to mow several acres, this little guy probably isn’t the one for you. Anything up to around 3/4 of an acre is where it will shine.
Now I just need to find something that can handle several acres in the pasture behind the backyard…
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