Believe it or not, the average power drill is used for a total of 15 minutes over the course of its lifetime. And that’s not unusual. Our cars, many household items and even our homes spend much of their time idle, empty or unused.
I’m excited to announce a series of guest posts for this week. I’m blessed with all sorts of brilliant colleagues around the world; most of them are excellent writers on top of being elegant thinkers for a new age.
Top image photo credit: Stuart Caie. Article cross-posted from Center for a New American Dream. Last summer, at an outreach event in Baltimore, Maryland, a woman walked up to the New Dream information table with questions about our work, which led to a larger discussion about community building, tool libraries, time banks, and beyond. “Have you heard of the Sharing Economy?” my colleague asked the woman.
The sharing economy is a $2 billion industry that's making big brands feel uneasy. Sharing as a business model is on the rise, with more than 200 companies already part of the movement: The numbers tells us that people want to rent out their apartment when they’re out of town, share a ride, and loan money to people in need. To be part of this generational shift and not be left behind, big brands should consider the following.
The internet, along with smartphones and PCs enable us to share under-used space, vehicles, equipment and other possessions with people looking to rent them, but regulation might end it all. Is it sustainable?