Oh, Damon Motorcycles, I don't know what to say about you anymore, as I feel everything has been said. Yet, there's always something to discuss, and at this point, it's mostly with a lot of side eye and "Oh, come on."
The once-promising electric motorcycle startup has been through it all over the last few years. It had the standard splashy entrance onto the world stage and subsequent debuts of forthcoming motorcycles at CES. It's then seen layoff after layoff, an IPO that went about as good as you'd imagine for a company without a product, its cofounder and CEO leaving abruptly after a host of ill-conceived decisions, hostile social media interactions, an incident with the ex-CEO's dog, it's other cofounder leaving and then returning to take the CEO helm, and not a single solitary motorcycle produced for those who gave the company a hefty deposit.
There's also the case of the constantly moving production facility.
And now, after all this time, Damon Motorcycles—which, again, hasn't produced a single motorcycle for consumers—wants to revolutionize rider connectedness, data brokering, and safety with an AI-driven McGuffin called Damon I/O. And the company wants to sell it to motorcycle manufacturers, too.
You can't see it, but I'm rubbing my temples.
To be fair to Damon off the bat, despite everything above, Damon I/O as a concept is closer to the original vision for the company than a 200 mph, 200-mile range, Transformer-esque electric superbike ever was. At its inception, Damon's founders wanted to wrap the rider in a connected services safety net and ensure they had the information available to them to keep them rubber side down.
But safety tech ain't something that usually attracts VC capital. You know what is? Selling personal data. But even that doesn't work these day. If you want that money, you have to have AI. Cause who doesn't love an AI thing that gathers all your personal and private data to sell to brokers?! We don't, but PE absolutely does.
According to Damon, "With the global last-mile delivery market exceeding $100 billion and personal mobility undergoing rapid electrification, DAMON I/O addresses the lack of digital infrastructure to collect data and enhance rider safety, providing recurring revenue opportunities through software." Safety, however, ain't the product. Your personal data is, and it gives that game up later on in the release.
"Damon I/O addresses a critical gap in the personal mobility industry, where manufacturers struggle with fragmented data systems, limited rider insights, and disconnected post-sale experiences," emphasis mine.
Motorcycles, on the whole, don't have the sort of technological suite that cars do. As such, it's harder for manufacturers and the aftermarket, as well as insurance companies and others, to gather your personal data as to make a quick buck off it. You don't usually have CarPlay or Android Auto, or the host of OEM UXs spying on your every move when you ride. Damon's I/O, however, aims to fill that spy gap, but wraps it in an air of "We're doing this for safety!"
"The personal mobility industry is at an inflection point where digital experiences define brand differentiation," says Dominique Kwong, the freshly returned CEO of Damon, adding, "Damon I/O is purpose-built mobility infrastructure that can turn any personal mobility brand into a data-driven company overnight. We're offering manufacturers the tools to compete with the most advanced connected vehicle platforms in the world. Data by itself means nothing – it's contextual information that creates monetizable value."
"Every ride becomes actionable data," states Kwong.
There's also a kicker hidden within the press release, as Damon basically says manufacturing the aforementioned promised motorcycle is harder than expected some six years after it debuted the concept and started taking people's money. "While we continue to develop our innovative electric motorcycles, this platform allows us to scale software services globally without the capital constraints of manufacturing," states Kwong in a rather quiet update on the Hypersport electric motorcycles.
And I'm rubbing my temples again...
