Sharing Economy

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Sharing economy

Humans are chaotic in nature; we like destroy beautiful things just to claim our ownership towards it. Kings and emperors enslave their own people, toiling them day and night just to sculpt massive statues and stones imprinting their names and faces. Why? Because they want to be feared, they want the history to know of their reign; it’s their way of leaving breadcrumbs in the mind of the people, only to reflect their ownership in their lands and on the lives of people. Imagine how many wars and many lives would have been saved if they had just learnt how to share their seats. But they are not the only ones to blame; back then sharing was often associated with weakness. If you share, it’s probably because you couldn’t do it on your own. But now, the perception of sharing has somehow changed. After being hailing the internet, people have let their guard down and invited business to their front door making and saving cash with a click of a button.

 Millennial are the largest generation. Due to the population growth, there nearly isn’t enough room for all the people to live in the luxury of personal space that might have been available for the generations before them. Adding inflation to that, the value of land has sky rocketed making a house with a front lawn almost seem like a picture straight out of a fairytale. Thus, sharing economy has become more than an embodiment of idea but a necessity for the newer generations. Sharing economy has been an antidote to man’s obsession with claiming ownership. The concept of ownership has almost faded among the millennial. Research has shown that 3 out of 4 millennials would rather spend on an event or experience rather than spending it on the possession of a physical thing. Millennials are taking more interest on culinary experience, travelling, events, etc. than buying properties or expensive jewelries while the baby boomers were mostly focused on saving enough to build a house.

 Internet has created a web among people making it easier for the communication flow from one end to another. Thanks to the internet, we no longer have to play Chinese whisper throughout different intermediaries only to receive mediocre deals. The change in the attitude and perception towards sharing can be traced to the internet. The easy access of information and connection to a wide audience is the vary reason leading to the birth of sharing economy.  The buying and selling transaction can easily be done from a click of a button. For example, if you have a bike you haven’t used for months, you could post information regarding the bike online. Interested people can respond to post, and you can rent it to someone who needs a bike temporarily. This creates mutual benefit for both the parties; as the bike owner can earn an extra cash from renting the bike along with making some use of the bike that would be idle otherwise and the person in need can rent the bike for a cheaper price, offering more value for the user. Sharing economy doesn’t necessary include monetary transactions in all times. As a matter of fact, much of sharing economy could be as noble as for the purpose of helping another person.