I use them, and try to not use cheap ones, especially on the bike. I recently bought a new one for the bike because the old one looked a bit frayed.
A friend got a very bad eye injury from a bungee cord, and I've seen a lot of failed bungees on the bike paths. I really should switch to a strap with a ratcheting thingie for strapping stuff on my bike rack.
There's really no mystery about bungee cords -- I don't recall using them growing up (1950s-1960s) and suspect they were not widely available then.



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