RP237 For the Many, Not the Few

 RP237 For the Many, Not the Few

Ya-wen, a 21-year-old student, had always wanted to visit England. She looked at the price of London hotels and worried she would never afford the trip. But then a friend suggested the Airbnb website. It offers rooms in private houses for short-term rent—much cheaper than hotels! Ya-wen was delighted.

Airbnb is a part of the "sharing economy" made possible by the Internet. The sharing economy allows people all over the world to get services at a reduced price. On Airbnb, users share their homes; on other sites, people share something else. Uber lets you get a ride across town for half the price of a taxi. TaskRabbit connects workers with clients offering one-off household jobs, such as building shelves. DogVacay, meanwhile, will find a loving home for your pet while you' re on vacation!

Thanks to technology, old ideas about companies and customers are changing. You might have heard of group buying, for example. Twenty strangers want to buy the same product. They find each other online and place a large, joint order to get a discount. Perhaps you have also heard of shared ownership. The cost of an expensive item is divided between several people, who take turns using it.

The sharing economy aims to reduce waste and build community. However, not everyone is in favor. Hotel owners and taxi drivers are concerned that Airbnb and Uber will take away their business. Sites such as eBay allow anyone to start a business, but they make it easy for people to sell stolen or faulty goods. Legal battles are common in the sharing economy. It is a new business model, and people need time to get used to it. These issues seem likely to decrease as time goes on.

Above all, the sharing economy is democratic. Anyone with an Internet connection can advertise their skills, or request the skills of others. This is the key to its popularity. The future of business is finally in the hands of the people.