In Today’S Society, There Is No More Standing Around Waiting

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In today’s society, there is no more standing around waiting to hail a cab or wondering where is the best place to go eat in the city. Over the past few years there has been a shift to a “sharing economy.” An economy in which buyers and sellers are directly connected and there is no middle man in the way. The apps that make our lives easier such as Uber, Lyft or Airbnb have become the superstars of the shared economy. But what exactly is a shared economy? These firms have found a way to connect end users directly with the suppliers and have used innovative ways to help the challenges of everyday life in urban areas. Shared economies roots are imbedded into urban areas in which they provide the technology that society is so highly…show more content…
Uber is an example of a tech-enabled company. Transactions are done in three variations, market, alternative, and free. Uber is on the extreme end that their prices do not vary due to demand, but uses surge pricing. Most companies such as Airbnb use market pricing. Many bike-sharing companies operate for free and make most of their money through sponsorships and advertising. The concept of sharing has brought the economy to a whole different level. This new emerged market is creating businesses out of things that have never before been used. For example, renting out your home, car, driveway or even a room in your house for a dog penthouse known as DogVacay. This is not said to be a trend, this is a new market and is gaining the momentum it is because people are looking at it for economic, environmental and lifestyle reasons. Frederic Larson, a 63 year old photographer, teaches at the Academy of Art University in Hawaii uses the sharing economy to generate extra revenue. Renting out his home on Airbnb for $100/night leaving himself with one room to stay in, and he uses his Prius four nights a week for the ride-sharing service Lyft and is able to generate an extra $100/night. This is not only something for people to make their lives easier and live a better life in crowded areas, but now people are able to generate

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