There’s hardly any aspect of our lives that COVID-19 has left unaffected. And barring a few sectors, most businesses have taken a big hit – some more than the others. One of the most impacted, of course, has been the sharing economy. In a world wary of anything shared, this sector lies in critical condition much in need of life support. And innovation.
So, what does ‘sharing economy’ mean to begin with? Essentially, it is an economic model that provides for sharing and purchasing goods, assets, and services between private individuals. This includes household-name companies like Uber, AirBnb, and WeWork – having the world locked inside has proven almost disastrous for these businesses.