A report projected that these five key sharing sectors

A report projected that these five key sharing sectors

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would likely increase global revenues from $15 billion in 2015 to $335 billion by 2025.5i Alexander Cooper is a pseudonym and a fictional character created for class discussion purposes and is not meant to depict a specific person within the Uber organization.For the exclusive use of P. Mandalapu, 2016.This document is authorized for use only by Phaniteja Mandalapu in 5701 F16 Sprott, Sections A & D taught by Dr Diane A Isabelle, Carleton University from August 2016 to October 2016.
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2Uber and the Sharing Economy: Global Market Expansion and ReceptionW04C79The sharing economy was considered an alternative to conventional business models because it prioritized access to goods, resources, and services, rather than ownership of them.6This new collaborative consumption model offered economic advantages over traditional business models. Providers generated revenue by utilizing underused assets, and users had increased access to goods and services at lower prices than with traditional providers.7Sharing economies maximize a good’s capacity, saving time and money for both the producer and consumer.8Driving ForcesThe development of information technology significantly expanded the sharing economy. Smartphones and social media created increased and continuous access to information for consumers, allowing new users to discover and quickly adapt products and services within the sharing economy.9Sharing in the economy had existed long before and could be thought of as a collaborative economy, but the Internet created a new platform on which the sharing economy could operate. The Internet transformed the sharing economy and enabled it to grow significantly in a short period of time within multiple sectors (see Exhibit 1).10Exhibit 1The Sharing Economy in Almost Every SectorSource: Owyang, Jeremiah. “Collaborative Economy Honeycomb 2 – Watch It Grow.” Web-strategist.com. Accessed 6 Jan. 2016. <blog/2014/12/07/collaborative-economy-honeycomb-2-watch-it-grow/>.Another driver of the sharing economy was the financial crisis of 2008. The sharing economy emerged as a response to the economic downturn and instability that followed the 2008 financial crisis, resulting in networking and pooling of resources.11Cultural shifts also helped nurture the development of the sharing economy. In the U.S., car ownership had long been a sign of independence and many people could not imagine their world without owning a car. This was not true for younger generations, however. A survey conducted by the technology and research firm Gartner found that 46% of adults between ages 18 and 24 would prefer to have Internet over a car, while only 15% of baby boomers answered the same.
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