Bright Lines || The growth of the sharing economy
Tudor N. Pana
Associate Legal Editor | Double LLM International Business Law (Distinction) || Author
After a sabbatical, the weekly talk is back with a slightly adjusted format, as follows.
The world is burning...literally, so I decided to turn towards the positive.
Too often we only see what's going wrong, or portray an otherwise more or less neutral reality (complex as it is) using exclusively pessimistic lenses. So, let me change that perspective and go through some positive stories worth acknowledging.
The weekly talk will strive to offer noteworthy optimistic developments monthly comprising either business & innovation, finance or law, starting today with the first "Bright Lines" edition - it'll definitely brighten up your mood.
The growth of the sharing economy
The sharing economy is a new way of consuming goods and services that is gaining popularity. It allows people to share their underutilised resources with others, such as cars, homes, and many other possessions.
These platforms have the potential to create new businesses, jobs, help people save money and they can also help reduce waste and pollution - whilst boosting entire sectors.
According to the Corporate Finance Institute, the sharing economy is a rapidly growing market that has attracted over $23 billion in venture capital funding since 2010. This funding has supported the growth of a wide range of businesses, from ride-sharing platforms like Uber and Lyft to home-sharing platforms like Airbnb.
The following list comprises some of the biggest names in the sharing economy sector:
This economic model is a dynamic and ever-changing market. New platforms are emerging all the time, and it is difficult to predict how it will evolve. However, there are visible trends that suggest that the sharing economy will continue to grow in popularity, even exponentially so in the near future.
The sharing economy is the internet's naturally expected creation.
The sharing economy is not a new concept. For centuries, people have shared assets with each other. However, the invention of the internet and its derivatives have made it much easier for people to connect with each other and share assets and skills. This has led to the growth of the sharing economy, also known as the collaborative economy, shared consumption, or peer economy.
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China is the stand-out market: 73% of its online population are consumers in the sharing economy, and more than half (55%) supply goods and services to it. The UAE displays high penetration rates for sharing, second only to China on both the supply and demand sides (54% and 61% respectively).?
For the full report on the status of the sharing economy in 2023, Gitnux offers a comprehensive analysis.
Here are some examples of the positive impacts of the sharing economy:
This new economic model is a real force for change, happening as we speak - in the right, potentially altruistic-capitalistic direction. It is probably even one of the most important mutations capitalism is subjected to.
It has the capacity to make our lives more affordable, sustainable, and at the end of the day, more connected - we are essentially social creatures after all... so remember, there is so much progress happening around us, we just have to be willing to see it.
As an enthusiastic reader and dedicated writer, I aim to engage with fellow curious minds by sharing my weekly thoughts and opinions. If you found value in my analysis (which I thoroughly enjoyed crafting), and would like to stay informed about upcoming articles in?the weekly talk, consider subscribing to this newsletter.?Feel free to share your thoughts, or questions via comments or direct messages.?
PS if you disagree with a point, and if this creates a debate, then the article is a great discussion promoter - so kudos to us all.
Have a wonderful weekend! ??
Yours,?
Tudor