The ingenious combination of these design elements and some clever geometry yields quite a remarkable bike.

Folded, the Caracle with its 20" wheels is small:



How small? It will fit into a 28" suitcase w/o disassembly:



It also folds with not only its driveline to the inside, but also its handlebars, protecting those expensive combined brake/index shift levers, and, I suppose, your GPS computer and Spurcycle bell.

Kudos to the unknown designer(s)!