Check out these seven foolproof ways to hack the sharing economy and make money while you sleep.
These asset marketplaces do require asset owners to invest some time upfront and on a recurring basis.
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Before using any of these platforms, consult a tax expert or accountant about the tax implications of using them to make money.
Credit Suisse estimates 43 sharing start-ups had reached US$1bn valuations last year which aggregate value reached US$219bn8. have the potential to increase global revenues from roughly $15 billion today to around $335, PWC The Sharing Economy, Consumer Intelligence Series billion by 2025.
Significance of a Sharing Economy
Sharing economies enable people and organizations to make money from underused resources. In a shared economy, unused assets such as parked vehicles and spare bedrooms can be leased out while not in service. Physical assets are thus exchanged as services.
The sharing economy is an economic model in which individuals are able to borrow or rent assets owned by someone else. The sharing economy model is most likely to be used when the price of a particular asset is high and the asset is not fully utilized all the time.
Sharing economy services have exploded in popularity over recent years with many expecting this trend to continue, with the total value of the global sharing economy predicted to increase to some 335 billion U.S. dollars by 2025, from only 15 billion U.S. dollars in 2014.
Why has the sharing economy grown so quickly? Technology has been the biggest driver behind the sharing economy's growth. “Through digitalization, corporations have been able to tap into the informal economy and capture some of its value,” Attila explains.
The main intrinsic motives are social and environmental. Besides motivational factors, networks, (social) media and recommendation prove to be explanatory factors for the willingness to take part in collaborative consumption,” he writes.
Sharing economy companies and examples
Airbnb: Airbnb is a community marketplace for people to list, discover and book unique accommodations around the world – online or from a mobile phone or tablet. ... The company highlights its quality service, prompt on-demand drivers, and affordable rates as competitive advantages.
The sharing economy is accompanied by diverse expected benefits. Through the creation of new transactions, consumers can enjoy low prices, diverse options and better quality and convenience, and suppliers can earn additional income, all of which contribute to the welfare of the participants.
In 2016, 44.8 million U.S. adults used the sharing economy, and it's expected to grow to 86.5 million U.S. users by 2021. McKinsey estimates that in the U.S. and Europe alone, 162 million people or 20-30 percent of the workforce are providers on sharing platforms.
But it actually is not a sharing economy example. Netflix is an on-demand subscription business model. It is also not a pay-per-use business model (which is another often-repeated misnomer). ... But they are not a sharing economy platform.
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