Innovation

The sharing economy: Reshaping the world

Sharing is not only caring. It can also be profitable.

27 June 2017

The `sharing economy’, as it has come to be known, has taken off over the last few years, with companies like rideshare groups Uber and Taxify, and short-term letting service Airbnb, not only finding lucrative niches, but going as far as reshaping entire industries.

Airbnb, which is valued at $30 billion, owns no buildings, but is the largest hotel chain in the world. Same goes for Uber. It owns no vehicles, has only been around since 2009, but is now broadly acknowledged as the world’s largest taxi company.

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