Pre-2020, the sharing and gig economies were thriving. Then the pandemic changed the game. While Uber's food delivery was up, its ride sharing plummeted. Airbnb saw a wave of cancellations. The entire space stumbled. As we emerge from lockdowns and restrictions, new challenges face these Silicon Valley darlings. With ongoing rights over worker classification, and increased pressure to turn a profit in a rising rate environment, it's time to ask: What's next for the sharing economy?

Show notes

[0:00] 2012 was a big year for the sharing economy

[00:28] But the following decade was even bigger

[00:56] Professor Ming Hu is the person to talk to about the sharing or gig economy

[01:43] The pandemic changed the game for companies in the sharing economy. Can the gig economy thrive in a sustainable way?

[03:14] What exactly is the sharing economy?

[03:47] These companies very quickly transformed parts of our lives…and quickly became the status quo in our lives

[04:42] You can thank the network effect for this rapid growth

[05:07] Uber is the poster child of the sharing economy

[05:25] The pandemic had a devastating impact on Uber’s ride sharing

[05:51] Future success is going to be dependent on its relationship with its workers

[06:26] The fight over Uber worker classification

[07:05] The two types of Uber drivers: Ad hoc and full-time workers

[08:00] Why a one-sized fits all solution doesn’t work

[08:27] Uber is changing how it deals with drivers as a result of proposed worker classification legislation, putting some control in the hands of drivers

[09:12] Ming proposes that different types of workers should be treated differently - just look at how the UK is handling things

[10:12] Why now is so pivotal for the sharing economy

[10:47] Rising inflation is having a big impact on sharing economy consumers…

[11:18] …and on the drivers - gig workers are likely to be the hardest hit by high inflation

[12:18] Beyond ride sharing, what at the big opportunities for innovation in the sharing economy? What about energy sharing?

[13:10] "There's no shortage of new applications and new markets, where we can apply these ideas to."