I've seen this popping up all over the place in the last couple of days. It seems somewhat limited, mainly by distance/proximity and the fact it's only available for Apple products at the moment. But once/if enough people get on board, this could be a serious way to recover stolen bikes. Drop/stick one inside the seat tube? I'm sure there are drawbacks but it's the best idea I've seen yet.
FWIW, I have no affiliation with this company...
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