AirBnB and UBER have set the sharing economy on fire allowing people to share rides and apartments for money with other people. There has been a lot of chatter about the implications of such disruptive innovations – good, bad and ugly – from all kinds of people; disgruntled competitors, paranoid public and governments torn between encouraging innovations that could help enhance the economy and regulating markets and industries.
Going by the valuation of two of the biggest collaborative consumption startups, airbnb and UBER, we can agree that there is quite a number of people who believe they are the future, backed with a growing user base amid the frenzy it is only too safe to say that the sharing economy has arrived and is here to stay.
The sharing economy is new and as such most societies do not have regulations laid down for them, making startups like UBER and airbnb prone to stepping out of line and being caught up in cogs of dispute. In the meantime however, as countries cook up legislation that would help collaborative consumption thrive whilst still providing room for fair, innovative competition there is one industrythat has to get into the sharing economy system fast!
Social networks have become a part of our lives. With different social networks cutting across various demographics, there is a social network for almost everyone. More than ever people have found it easy to connect with other people of similar interest all around the world.
- People on Social Networks share things in common already.
First, people on Social networks already know each other to an extent. They share content with each other and have probably met, or maybe even would like an opportunity to meet and the peer economy could just be a good reason to. Also social network algorithm ensures that even though these days people do not necessarily always know the people they follow or add up as friends they know someone who knows someone who knows them. It then becomes easier sharing property with them or recommending people for others to share with.
- People on Social Media are hungry for business opportunities.
Facebook and most other social networks are filled with people trying to advertise one thing or another, services, items they would like to sell or rent out, the list is endless. Social networks would be doing everyone a favour by satisfying this hunger and providing a peer economy platform for people to transact.
- Social networks add true meaning to collaborative consumption
Since these people are really friends or friends of friends then the sharing or peer economy or collaborative consumption would become what it really is as people really get to share with their peers or peers of peers.
- Peer economy can help make Social networks more organic
Organic relationships have died since the advent of social media. People no longer want to go out and play. They would rather cage their friends up behind glass screens and interact with them from there – that’s supposed to be for prisoners. Even when we do go out to interact we are still hooked up to the bright lights of our gadget screens and we spend our days tapping glass while life passes on. With peer economy Social media can fix this – give us a reason to interact with people for good. And as humans one thing is almost always sure, if you connect people a lot of good happens.