Sharing Economy

Features:

• a platform, a supply, and a demand
• barter system exists because of the internet
• subject matters are usually personal assets
• platforms include Uber, Lyft, Airbnb, and Taskrabbit

Pros:

• flexibility – workers are independent contractors – have their own control
• seamless payments
• the market is more competitive
• users and customers feedback regulate the business

Cons:

• regulation – regulatory catchup required (hotels have fire escapes, safety protocol, sanitation, but Airbnb does not)
• traditional business falling apart?
• uncertain rates
• driving down independent contract earning and no employee benefits

Going concern:

• not just economy, but what does it do to serve our social purposes