Why is Mileslife top up so high? A lot of my friends are reluctant to sign up because $300 feels too high?

Have to agree with @kennethlou here on the flywheel of death for most start-ups. As we can see here, pricing is important because it's always the balance between take-up rate and unit level profitability.

Sadly I think Mileslife has closed down in Singapore...

Due to sustainability issues and problems with the merchant network which led to a huge publicity cycle.

And it led to the flywheel of death for most startups...

• Bad publicity over the ability to pay back merchants (liquidity issues)

• Reduced confidence for merchants to accept Mileslife (because this is a wallet top up mechanism)

• Thus consumers stop topping up into Mileslife as there was not enough merchant acceptance points.

Interested to know other perspectives on this as well!