Is sharing economy becoming the scaling economy for startups?
In recent years, the sharing economy or the Gigonomy has become a fascinating business trend. Companies adopting the sharing model have become adept at tapping excess capacity of both product and services and using to their benefit. With an emphasis on trust, communalism and most importantly, peer to peer transactions, Uber and Airbnb have rewritten the rules on how consumers commuted or stayed in hotels. Consumers benefit from wider and cheaper choices, ease of use and access to user reviews. Besides Uber and Airbnb, there are many other industries offering services, forming a part of the Gigonomy. Example, DogVcay – an online community that connects pet parents with pet sitters across North America or Getaround – a peer-to-peer car sharing company that allows people to borrow cars from others.
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