Sharing-Economy

Sharing-Economy

Due to reduced manufacturing costs on the majority of consumer products, owning things such as cars, houses and other goods once regarded as solely for the wealthy, are no longer exclusive to the higher class. Previous generations often viewed owning multiple cars, homes and other possessions as a symbol of wealth but with the rise of smartphones, increased concern on global footprints and the utilization of sharing economies by app makers those ideas/goals have changed. Now Millennials and other recent generations have had a change in belief of how they live, what they should own, and even what is seen as a sign of wealth. 

Because of smartphones and other advances in technologies, it is now possible to almost instantaneously utilize services such as Uber, Parkmobile, and Zipcar.  For the transportation, the ability for consumers to not have to worry about purchasing a vehicle, maintenance and other ownership cost elimination, is a huge incentive to utilize the new sharing applications (apps)... especially when attending crowded events where parking is scarce or you will consume alcoholic beverages and should not drive. Maybe you are part of the few, that have a large amount of disposable income who would actually be wasting money by having your own vehicle (Rapper/celeb or live in NYC). In terms of the housing market, new applications have entered the hotel market without having to purchase a building and or land. Apps like Airbnb allow you to stay in someone else's home all over the world eliminating the need for a hotel and typically at a fraction of the costs.

It hasn't stopped at just transportation and housing industries, there are apps for almost anything from lending money, tools, resources, workspace rentals, to the resell of possessions. The possibilities seem endless. Though there is some consideration one should take, for example, the trust you are placing in another random individual by staying in their home, getting in their car and essentially utilizing their possessions or their services. In the news, there have been recent attacks on customers who were using or attempting to use share economy services. While all industries have an element of crime, being aware of the possibilities should be considered when deciding on whether to utilize these services and appropriate caution given such as alerting friends/family your location and plans.

I believe the new sharing economy overall is an amazing idea and one that came at a perfect time since issues such as overproduction have come to the spotlight and recent generations are becoming more invested in reducing our global footprint. Though everything does have it's flaws/weaknesses, security is especially important and one customer's/users should be heavily involving themselves in by carefully following precautions advised/offered to you by the apps.

What other Sharing-economy services do you know of or think would be amazing to have?

How can Sharing-economy in terms of employment help reduce business/consumer costs?

What precautions do you take before utilizing these services?