“Rachel Botsman, the author of a book on the subject, says the consumer peer-to-peer rental market alone is worth $26 billion. Broader definitions of the sharing economy include peer-to-peer lending (though cash is hardly a spare fixed asset) or putting a solar panel on your roof and selling power back to the grid (though that looks a bit like becoming a utility). And it is not just individuals: the web makes it easier for companies to rent out spare offices and idle machines, too. But the core of the sharing economy is people renting things from each other.” – The Economist.
This week’s Economist cover story looks at the expansion of collaborative consumption models around the world, touching on how incumbents are starting to get involved as their industries are being disrupted – from transportation to accommodation to retail – signalling the immense potential of this movement is starting to be recognized.
Read the full article and other related stories at The Economist
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