I'll Believe It When I See It: $9 Cardboard Bicycles

This is a recycled cardboard bicycle built by Izhar Gafni. It can allegedly support a rider up to 300-lbs (although their ass will engulf the seat) and is unaffected by water or humidity because it's been coated with anti-water and humidity stuff. I'm scientific!
In an article by No Camels, it was reported that the production cost of Gafni's cardboard bicycles was around USD$9 to $12 each, and he estimated that one could be sold to consumers for $60 to $90, depending on the components they choose to add.
Wow, so you're gonna make a bike for $9-$12, then sell it for for almost 7 times that? How about we make $9 bikes, then ship them to third-world nations so children don't have to spend the whole day walking to the mud hole and back just to get a bucket of water? Really free up some time to play with sticks and rocks.
Hit the jump for a lengthy video about the bikes.
Thanks to thepinkbikerider, who apparently rides a pink bike. "It's purple." I can't win.
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