ADThey also have more seats than older buses, allowing Flix to spread its own higher fuel costs over more passengers per journey. Such calculations are core to a company that talks of bringing a Silicon Valley ethos to a distinctly low-tech industry. Outside Greyhound, where it runs its own buses, Flix has an asset-light model which depends on data analysis to match other bus companies’ supply to demand. And even as it invests in North American buses, European train services, and emerging markets, Flix’s founders are in no hurry to go public. How does the Flix model work?