Airbnb Disruptive Technology

In 2008, the American population saw a large wave of home foreclosures during the Great Recession that created an economic crisis that displaced millions of homeowners. Unable to recuperate from the terrible financial situation, these persons found comfort within the rental property industry. These previous owners, unable to purchase new homes, began renting property and living as tenants, contributing to the 4% growth record of the rental industry as published in a study that was conducted by Harvard University. With the growth of this industry, rental property owners began to devote more of their time to the development and marketing of their rental properties. These owners began providing lower rates for their properties, and they began making improvements that allowed them to increase the net profit that they received. With the continual “boom” of the industry and the popularity that it is receiving due to young adults needing places the live, rental property owners need an effective program that allows them to oversee their properties and communicate with their tenants.

To launch our business we will be partnering with Airbnb, airports, hotels, and businesses. Partnering with Airbnb will allow us to accommodate customers who are looking for a car while they are staying at their Airbnb. Knowing a car will be handy for them to use at their selected destination will allow customers to choose and pick the best place for them to stay and it can all be done easily together when partnering with Airbnb. Partnering with airports will be another way to cater to customers needs. Having airports designate a select area for RIGHTRIDE’S cars will allow traveling customers to know that they will have a car to use while they are in whichever state they are traveling to. Hotels is also another partner that can help our product

“Rent Collective” describes how co-living could potentially revolutionize the property industry. Co-living presents an alternative to the unsatisfying choice between money (renting your own room) and privacy (sharing a room with roommates). In this new housing format, residents live in miniature units (around 12 square meters) with one bed/shower. In exchange, they pay relatively cheaper rent in which utilities and wifi are paid for, and they also get access to high-class amenities such as a spa and a cinema.

In the article “How Airbnb Short-Term Rentals Exacerbate Los Angeles’s Affordable Housing Crisis”, Dayne Lee argues, “unions and hotels complain that Airbnb unfairly competes with skirting public health regulations, and undercutting unionized hotel workers by connecting its hosts with independently contracted cleaners.”

The crisis led to a new concept of public sharing developed all over world. AirBnB has offered jobs to “hosts” – people who periodically offer their homes to guests. For cities that lack hotels and motels, this type of service is beloved.

Chesky and Gebbia had history. As undergrads, they’d both studied at the Rhode Island School of

Sharing economy is a business and a service built around sharing and renting assets, where the technology has a big involvement, as it’s used as communication between the renter and the borrower. Sharing economy has its advantages and disadvantages, and Suzanne Bearne, Catharine Hamm and Mary Dejevsky are 3 writers that express their knowledge and views relating to the topic of sharing economy.

A major concern for this company is the threat of substitute products or services. Rent-A-Center makes using their service customer oriented which helps entice customers to keep coming back. Letting the consumer re-rent the same product or comparable product at any time and pick up payments where they left off (Martin, 2015). This policy implores Rent-A-Center to charge a price for their product that is comparatively lower than their competitors while still offering a price that allows them to make a profit (Martin,

In today’s society, there is still an excessive amount of prejudice related to ethnicity, religion, gender, and sexual orientation. This discrimination happens everywhere including workplaces, schools, movie theaters, malls, and even at your own house when you eat supper with your family. Not only does our society often discriminate those seen as different, but our newly-elected president, Donald Trump is even treating these groups poorly. According to the article “Trump's Immigration Order Is Legal-For Now,” “On January 27, President Trump contracted an Executive Order which stopped immigration for one hundred and twenty days. This Executive Order momentarily banned legal immigrants from seven

3. Make It Easier to Reject Renters: When a renter sends a request to a host to use their

Uber Technologies, Inc. was founded in 2009 by Travis Kalanik and Garrett Camp as a way to solve their own transportation problems in the traffic congested city of San Francisco where it is still based and headquartered. Uber Technologies offers an on demand car service application for smartphone users that links drivers with people needing a ride. According to Jim Makos of Pestle Analysis “It brilliantly connects the transportation industry with technology via its ride-sharing app.” With the click of a button on the application you can summons a vehicle of your choice see your rate, pay

Airbnb is a short-term accommodation leasing and renting company which turns residential houses into tourist marketplace. Critics believe that this company is running illegal hotels that are against the health and safety regulations. Therefore, last year Airbnb was banned in certain areas and cities.

Welcome to the sharing economy where you can have everything, but own nothing. It may sound like a riddle, but the developing industry is built on a single fundamental value: trust. As soon as people are able to walk and talk, they are faced with decisions regarding trust. A child shares toys with another child trusting it will be returned in the same condition. A teenager shares secrets with a friend, trusting it will be kept a secret. Adults are riding in cars with strangers trusting they will make it safely to their destination. The sharing economy allows individuals to “[buy or sell] usually temporary access” to a variety of goods and services through the use of technology (Merriam-Webster). Individuals and corporations are sharing anything they can market: their cars, homes, skill sets, wifi, and more. These changes in traditional consumption spurred by the sharing economy create opportunities for innovation and employment, but the growth has resulted in disruption of traditional businesses and created gaps in insurance. As wholesale insurers attempt to bridge this gap and mitigate disruption, they will be faced with threats of high liability exposures and complex claims. However, successfully bridging the gap will produce possibilities for new coverages, programs, and customers.

Accommodation sharing: Airbnb has not only opened the doors for the alternative way in the perspective of travel, but it has forced cities to follow-up their housing codes and questions about housing requirement and desires. (Lee, 2013)

In the context of this report, I will discuss the share economy and how it is helping us to be more efficient (SUSTAINABLE - this is economic and environmental) by making better use of underused assets as well as its effect on our values system (lifestyle) in regard to the way we think about supply and demand. I will explain why collaborative consumption is economically empowering by allowing anyone to be a micro-entrepreneur. I will also illustrate the scope of the sharing economy using specific, current examples. I will describe the obstacles the big players face as people are moving towards embracing collaborative consumption, such as legal and regulatory. Finally, I will assert how the share economy has made people more trusting of each other and, as a result, why reputation is becoming the currency of the new economy.