The sharing economy is a socio-economic system that enables consumers to share in the creation, production, distribution, trade, and consumption of goods and services through digital platforms. It leverages information technology, particularly the Internet, to facilitate the distribution, sharing, and reuse of excess capacity in goods and services.

History

The concept of sharing resources for mutual benefit has roots in early human civilization, with barter systems being one of the earliest examples. However, the modern sharing economy emerged in the late 20th century as a response to the impersonal nature and waste associated with mass production and consumption. The term “sharing economy” gained prominence around the time of the Great Recession of 2008-09, driven by social technologies, global population growth concerns, and resource depletion.

Key milestones in the sharing economy’s history include:

• 1978: Marcus Felson and Joe L. Spaeth coin the term “economy of sharing” in an academic article.
• 2008: Lawrence Lessig possibly first uses the term “sharing economy”.
• 2010s: Rapid growth of sharing economy platforms like Airbnb and Uber.

Major Players

The sharing economy encompasses various sectors, including transportation, accommodation, professional services, and personal space. Some of the leading companies include:

1. Airbnb: Founded in 2008 by Brian Chesky and Joe Gebbia (now a controversial member of Elon Musk‘s DOGE power grab), Airbnb is a global online marketplace for lodging and tourism experiences. It operates in nearly every country and region worldwide, with a significant presence in large geographies.
2. Uber: Launched in 2010, Uber is a comprehensive logistics and mobility leader, offering ride-sharing, food delivery, and freight services. It operates in approximately 70 countries and 15,000 cities worldwide.
3. Lyft: Founded in 2012, Lyft is the second-largest ride-sharing company in the United States, offering ride-hailing services, motorized scooters, bicycle-sharing systems, and rental cars.
4. Fiverr: Established in 2010, Fiverr is an online marketplace for freelance services, connecting freelancers with businesses and individuals seeking various digital services.
5. Lime: Founded in 2017, Lime offers electric bikes and scooters for rent in urban areas, providing an alternative to traditional transportation methods.
6. BlaBlaCar: Launched in 2006, BlaBlaCar is a long-distance carpooling platform that connects drivers with empty seats to passengers heading in the same direction.
7. Zipcar: Founded in 2000, Zipcar is a car-sharing company that provides vehicle reservations to its members, billable by the minute, hour, or day.
8. JustPark: Established in 2006, JustPark is an online platform for peer-to-peer driveway rental, enabling the renting out of parking and electric vehicle charging spaces.

These companies have significantly contributed to the growth of the sharing economy, which is estimated to expand from $14 billion in 2014 to $335 billion by 2025.