The United States has serious labor market challenges as a result of rising wage inequality between people and the slow middle class wage growth. The need to provide individuals with variety of goods, service and information raise specific economic phenomena called “sharing economy”. This model of economy includes different types of industry categories: sharing information (YouTube), property (Airbnb), transportation (Uber) and more. The sharing economy works in the same way as a traditional market, where individuals exchange different goods and service. The central concept of sharing economy (collaborative consumption) is the access to the goods. The application of regulation is the major issue with this type of innovated economy. The sharing economy is a nontraditional, because the workers’ luck of benefits and the type of economical market system that creates an income and job opportunity. On the other hand this type of market provides a different type of benefits as: flexible schedule and employment; saving energy and less waste; self regulation; lower costs of the product. The context is of a great interest since participation in sharing communities and services is characterized by obligation to do good for other people and for the environment, such as sharing, and engaging in sustainable behavior (Prothero et al, 2011). The challenge of any market includes and market of sharing economy is to ensure the supply and demand. Specifically for the sharing market is the way
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“It’s a simple experience and a much more pleasant way to get a ride than stepping onto a busy street and waving at oncoming traffic” (Stone, 2014, p. 53). It is convenient for both the employee and customer to arrange a ride, which makes Uber preferable. Additionally, the employees of Uber are given more benefits than the employees of taxi companies. For example, Uber issues an iPhone with the Uber software, free gear to secure it to their windshield and an hour of orientation (Stone, 2014, p. 52). It is this simplicity that appeals to people seeking employment. They are also using a platform that is accessible to many of their customers, because, as of 2015, “64% of American adults now own a smartphone of some kind” (Smith, 2015). Since their focus is on luxury, innovation, and results, they have transformed the public transportation system in their favor.
Today’s on-line travel market is succeeding because the companies are using a more software-centric, online business model termed “E-commerce.” This has become the popular avenue for businesses as it mirrors the ideas of mobility. The sheer amount of data available, coupled with the advanced operating systems and social media platforms, have created new possibilities for E-commerce organizations. The infrastructure of E-commerce has expanded into platforms such as peer-to-peer networking, crowd-sourcing, social websites, and mobile devices and media. E-commerce trends are findings ways to incorporate every aspect of our daily lives into an online package associated with our everyday needs (Fishbein, 2013).
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
As mentioned in the module 13, “social media make personal relationships more visible and quantifiable”. One of the fascinating things about the social media is that the people who are generating these enormous reams of content every day; who are spending enormous amounts of time organizing, linking, commenting on the substance of the Internet, are doing so primarily for free. They are not getting paid for it in any way other than in the attention and the reputational capital that they gain from doing a good job to some extent. This is somewhat remarkable because for economists, people do things are for a concrete reward, primarily financial. But instead, what we are finding on the internet is that people have found a way to work together without any money involved at all. People have come up with a different method for organizing
Missouri's governor, Eric Greitens, signed a bill “paving a road” for new transportation companies to easily operate statewide and supersede local fees and regulations. This doctrine will result in more jobs and will benefit the economy. Specifically, numerous Missourians will have a steady and good job as a Uber or Lyft driver since this will become an official job. With more jobs, Missouri will overcome unemployment, job loss, and destitution. These positive effects on Missouri will make other states consider passing this law. Uber and Lyft will now setup a statewide regulatory standards for the companies and their part-time, independent-operator drivers. Andy Hung, Missouri's Uber manager, is now creating more app-based services due to their
Every day millions of people wake up, get dressed and head out for a long day of work. Many of these people may work at a local McDonald’s, Wal-Mart, Dillard’s, or gas station. Some people choose to work at home on a computer blogging, selling items on the internet and even making entertaining videos. Present day society is quite different than society years ago, before and during the Industrial Revolution. Today the people of the world have more opportunities for advancements than before. The world has evolved significantly over time, and
Automakers are using car-sharing programs to simply offer a stress free alternative to car ownership. They enable drivers to use a car without the financial burdens. They also provide flexibility to the customer based the client’s need at the time. For those who cannot afford an automobile, Car-sharing service can offer flexibility of usage and also allows opportunities for customers to avoid late return fees by extending reservations, as when the driver might be stuck in a traffic jam and not be able to get the vehicle back on time. Unlike carpooling, car sharing gives me the independence to drive wherever and whenever I want, at a tiny fraction of the cost of owning a car. However like any other program car-sharing have disadvantages. The program is an affordable and reliable service, but that is part of the reason why it has many disadvantages such as the dealership running out of stock and competition from other companies who have initiated the program. The lower cost of the service could cause people to stop using their own vehicles and use car sharing instead. The car share companies are not growing fast enough to accommodate the sudden interest in the service could also prove to be a disadvantage. This options also allow clients to reserve vehicles unfortunately some people reserve them knowing they may not need it. This means that vehicles remain locked to people who genuinely need the services.
Professor Munger began his video on “The Sharing Economy” by saying that revolutions are destructive. His implication is the destruction is not in the sense that something is decimated but rather, there is a paradigm shift. The examples he uses to illustrate this point are that of the Neolithic Revolution, Industrial Revolution and the new Sharing Economy. To illustrate his point, Professor Munger begins with the example of the shift from hunter-gather to agrarian society’s ability to grow crops and remain stationary, which at the same time left people vulnerable to bandits.
Employment received a hard hit by the recession, but this “gig economy” has been able to provide job openings that are in need. According to a recent study, jobs in the gig economy has grown from 9 to 14% from 2002 to 2014, compared to overall employment which only grew around 7%. Moreover, the gig economy has also had an impact in the current economy, specifically coming from the famous startups such as Uber and Lyft. The Uber and
While such hesitancy and anxiety are understandable during the initial emergence of a disruptive technology, the multifamily industry might be better served to embrace the reality of Airbnb and the sharing economy. The potential economic benefits for both owners and residents are just too powerful, and the risk of not embracing it is
Gig economy has grown fast and gotten big in recent years. It means that a worker is hired by a digital marketplace. This economy has expanded for a large number of people around this world and has given some new services. For example, some ride services such as Uber or Lyft as well as the home sharing sites which are Airbnb and Home Away. All these services have increased popularity for people. Many people are now working in a gig economy because they have the ability to choose how much to work and when to work. they can set their own hours to work. They also can move around into different places. The researches shows that “roughly 0.5 percent of workers now earn money through gig work.” Most of them are taking gig approach to earn money.
Free labor means freely given labor, in terms of being unwaged and voluntarily participating: all users of the Internet. Free labor fulfills the empty space, the Internet, with their cultural and technical work by building, modifying, and producing new information, ideas, and values. The Internet became the place in which knowledge and skills are congregated as free labor collectively engages in productive activities. However, since the new values created in Internet are originated within the capitalism, their new values are exploited by the capitalism. In this sense, free labor in the digital economy contributes to capitalist society as the producers of the commodities.
The use of ride-sharing applications has become a popular choice to travel from one destination to another. In the past, cities were dominated by the use of taxis as a means of ride choice. As technology and society has evolved, ride-share applications such as Lyft have become a dominating choice for travel. After completing a PEST and SWOT analysis, Lyft can analyze how to proceed going forward to continue its growth and success.
Uber is an innovative company that operates as a transportation company and a food delivery service around the globe. In addition, Uber is a company that was invented five years ago. Furthermore, during Uber’s early stages of development, the servicing company was referred to as “UberCAb”. Then an individual in San Francisco had decided to try out their service. From the individual’s first experience, the individual was very impressed. In addition, from that point, the company referred to as “UberCab” became commonly known as Uber. Also, Uber operates their service business in fifty eight different countries and have allocated over $60 billion in revenue. Uber faces many issues in their human resources operations implementation regarding drivers and internal employees.
Some of the positive social factors which we identified are; it generates high employment opportunity for the residents of the cities in which companies like Uber operate. With the global economy still recovering from the 2008-09 financial crisis, there are a huge number of people who are still unemployed. Services like Uber, give those individuals a chance to be employed. The drivers who work for services