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November 30, 2018, 10:31:14 PM |
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I'm making Submission to Explain How Interesting This Social Group in it's Communist Interaction To This Great Project..
MISSION
Enabling people to become a part of the global sharing economy and share their unutilized assets
easily.
THE INDUSTRY: THE SHARING ECONOMY
The concept of sharing economy has been in practice for centuries, both at a person-to-person
level and at a higher operative scale. Time-shares, farming collectives, and informal arrangements
allow a group of people to share one expensive resource among them. With the spread
of the internet, the sharing economy model has seen immense growth because of the ability to
share with people you have never met, through centralized organizations that ensure trust between
people. Over the past decade, the world has witnessed small startups turn into multibillion-dollar
businesses (Uber, AirBnB). Despite the success of sharing-based businesses around
the globe, the sharing economy model hasnt reached its potential and has multiple risks associated
with its mass adoption.
Current Trends in the Sharing Economy
Uber is one of the best examples of the sharing economy. Ironically, the company does not own
its own vehicles and is still one of the largest taxi services in the world. The company defines
itself as a technology enterprise that offers a platform for taxi drivers and commuters to operate
together. According to a recent report, Uber is said to have a market valuation of roughly $70
billion, larger than the market cap of Delta Air Lines and other traditional transportation companies.
Similarly, AirBnB, valued at over $31 billion, is the largest hospitality company in the world
but owns no hotels. Ola, an Indian taxi-riding platform, is also succeeding in the sharing ecosystem.
Uber and Airbnb illustrated the profitability of a global sharing economy.
The industry is likely to grow from $14 billion to $335 billion between 2014 and 2025.
The growing market of the smartphone is a key growth driver for app-based sharing platforms.
Demographics: Millennials are at the center of the sharing economy but they are not the
only generation using these services. The adoption rates are growing for all ages and economic
backgrounds.
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