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Looks like the flex stem had been reinvented.
https://www.kickstarter.com/projects/redshiftsports/shockstop-the-shock-absorbing-bike-stem
Doesn't look like it has a 'parallelogram' arrangement so I guess it would keep rotating the bars forwards when you hit a bump.
Even some of the old ones had this aspect sorted:
A resurgence of the old school headshok type system with needle bearings would be a much nicer solution. No friction, no weird bar rotation, lockout just by rotating the stem top-cap, plus the stem systems don't take into account that bumps from the front end are still transmitted up through the saddle.
Bar rotation jumped out at me instantly too. Crap design barely thought through. soft ride looks like it would be better.
And when you get out of the saddle it boings all over the place. No ta.
Great idea for leisure cyclists IMHO - especially those not riding off-road. Reduction in 'buzz' without increasing rolling resistance and hopefully cheaper/lighter than suspension forks.
I liked my flexstem ....
Remember the old proflexs that came with rear suspension and a flex stem?! A pootlers dream 😆
I found my flexstem in the garage a few years ago and turned it into a video camera mount for a motorbike- a job it did considerably better than its actual job. Awful.
I had (and still have I may add), the only thing worse than a flex stem...a flex stem rip off/copy which I found advertised in the back of one of the uk bike mags back in the day. It weighs close to 2kg, but would be perfect for someones retro build (or mooring a boat)
yours for a tenner..
I snapped one at Malvern. Luckily in those days the trade area was like a car boot sale so a cattle prod was bought!

