Here are some Frequently Asked Questions from people who read my blog. Let me know if you have any other questions or concerns!

 

What is the sharing economy? 

According to www.economist.com, the sharing economy is an umbrella term with a range of meanings, often used to describe economic and social activity involving online transactions. Originally growing out of the open-source community to refer to peer-to-peer based sharing of access to goods and services, the term is now sometimes used in a broader sense to describe any sales transactions that are done via online market places, even ones that are business to consumer, rather than peer-to-peer.

 

What is a start up company?

According to Forbes, a start up company is is an entrepreneurial venture which is typically a newly emerged, fast-growing business that aims to meet a marketplace need by developing or offering an innovative product, process or service. A startup is usually a company such as a small business, a partnership or an organization designed to rapidly develop scalable business model.

 

Are there any downsides to the sharing economy?

A major potential downside is the loss of the social safety net – the insurance, income stability, paid vacations and other fringe benefits that are critical to the well-being of workers. People who work at sharing economy companies are usually considered independent contractors and don’t receive the same benefits that employees get.