Sharing economy: what does it really mean?

Sharing Economy

The term sharing economy is now common in India from after Uber, Ola, WeWork, Airbnb, and OYO Rooms.
“sharing” was planned to say that a singular proprietor was sharing something they previously possessed with others. OYO began when the owners expected to make some additional money and rented some beds in their hotel in Gurugram (India). Uber permits individuals to share somebody’s time and vehicle as opposed to taking an expert taxi. When tech startups utilize the expression “sharing” it is a lot simpler to get investment, but is it really different from renting? No.

Life-cycle for the sharing

Sharing is incredible, however as a rule, as the business develops, it moves from sharing. Now and again, it was never truly sharing. WeWork is a glaring case of executing a new thought on something that isn’t generally unique.
WeWork is a modernized variant of Regis designated at Millennials. They take out a long period of office space in advance and lease them out in a short period.

Even many shining stars of the sharing economy are changing quickly. Rent a room now, and you will see many have an intermediate that handles communication, software for check-in, and the owner rents multiple apartments. That’s just a fancy side hustle, not someone sharing their flat in Gurgaon or Bangalore. Obviously, there are still few jewels and they have worked really hard protecting the customized feel, yet it’s evolving rapidly. Uber is significantly more straightforward with regard to its drawn-out methodology. Is a fleet of independent vehicles claimed and worked by Uber sharing? Probably not.

All the above companies run into is that as the business developed, renting expertly actually makes big sense. If you own many flats in Mumbai or Delhi or Bangalore or any other cities you need to target business travelers, for short-term rental, It is the best business model for owners. they can take benefits of efficiencies and economies of scale.

Circular Economy

But what is the circular economy? It is an economy where products are designed to be sustainable, reused, and recycled and thus almost everything is reused, are-produced, and recycled into raw materials or used as a source of energy.