The Age of the Sharing Economy

One of the most interesting business stories out there currently is the disruption taking place in the taxi cab and limo industries. Yes, I am talking about Uber and Lyft the two startups which are wreaking havoc in these spaces. They enable car owners to become instant cabbies if there’s someone in need of a ride along their route.

Additional players in the people movement business include ZipCar which will rent a car to you if you prefer to do the driving.  Its cars are dispersed all over the city and can be located with a smart phone app. There are also companies which allow people in urban centers to share ownership in a vehicle along the sames lines as a timeshare condo.

Then of course there’s AirBnB which lets almost anyone to get into the accommodations business by renting out a spare room or living room sofa for the night to tourists or business travelers.

There’s a name for this megatrend: The Sharing Economy. In this economy people share assets rather than owning them as a means of keeping expenses down.

A few months ago, some credible source predicted that by 2016 over 50% of American workers will be temps. This means reduced wages, salaries, and no benefits. This will motivate people to get into the habit of jumping on opportunities to make a buck here and there by acting as a cabbie or micro hospitality industry business.

If you’re looking for a business opportunity take some time to think about what else could become part of the Sharing Economy.

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