The "Sharing" Economy: Issues Facing Platforms, Participants, and Regulators A Federal Trade Commission Workshop
The sharing economy creates economic opportunities for local economies. Unlike traditional silicon valley companies (i.e. Facebook, Twitter, Google, etc.) where all the money funnels back to California, with the way Uber and AirBnB operate a majority of the money (minus Uber and AirBnB fees) stay in the local economy, with the local drivers and local hosts. This economic boon is often unfairly trampled by local politics under the influence from the entrenched industries (taxi and hotel). It is important that these companies are given a regulatory framework that fits their innovative model so that they can continue to operate, provide economic opportunity for people, expand transportation/lodging options for people, and overall help drive local economies across the country.