The sharing economy is an economic model often defined as a peer-to-peer based activity of acquiring, providing, or sharing access to goods and services that are facilitated by a community based online platform.
It’s also predicted to grow to $335 billion by 2025.
The rapid growth of the sharing economy is believed to disrupt and threaten many traditional businesses. For example, it creates fierce competition in the hotel and taxi industries through Airbnb, Uber, and Lyft.
It can also bring problems, including regulatory uncertainty and privacy issues. For example, unlicensed individuals can offer rental services and charge lower prices, while Information on shared platforms can potentially lead to misuse of personal data.
- What are the common legitimacy challenges with the appearance of the sharing economy?
- How can these legitimacy challenges be overcome?
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