Introduction to Our Shared Economy Series
Of the most recent trends in technology, the advancements that impact real estate the most without any indications of slowing down center around the “shared economy.” What is the shared economy? Well, it depends on who you ask. For some, the shared economy refers strictly to peer-to-peer networks like Uber and Lyft (for ride-hailing), AirBnB (for property rental) and Homeaway (for vacation rentals) that allow individuals to provide direct services to other individuals using their own personal property or equipment. For others, the shared economy also encompasses private companies like Rent the Runway (for clothing rental), Zipcar (for car rentals) and WeWork (for co-working), that maintain ownership of property used by individuals that lease the property on a membership or subscription basis.
There are so many conflicting definitions of the shared economy, what it means and who is a part of it that you cannot merely use the phrase and expect for more than one person to have the same interpretation of the meaning of the words.
Over the next year, we will periodically examine the shared economy in a series of posts through our Shared Economy Series. Through this series we will explore the following topics: defining the shared economy, exploring the technologies and companies that support the shared economy, the benefits and risks for users of the shared economy and future business considerations for companies wanting to join the shared economy.
We hope that you will engage in our discussions and let us know what your thoughts are on the shared economy. Do you have your own definition? What do you most enjoy and most dislike about the shared economy? Is there an aspect of the shared economy that you are unfamiliar with and want us to explore? Reach out and let us know.