The economy of sharing

The SF Bay Area is a hub for a new type of economy, where things aren’t bought but borrowed. Let’s call it the age of sharing

Shared office

Shared office space, or coworking

Gabriela Hasbun

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Shared yard
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Nanny share
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4 popular sharing services


  • Hey, Neighbor! (heyneighbor.com). This social network is bringing back the old-fashioned spirit of lending for free the stuff gathering dust in your garage. You can also swap favors, like watering plants while on vacation.
    Airbnb (airbnb.com). Founded in 2008 in San Francisco, Airbnb lets people with space connect to those who are looking for it. The company handles all transactions, and charges hosts 3 percent of each accepted reservation. Guests pay a 6 to 12 percent booking fee.
    Getaround (getaround.com). Getaround, started in 2009, bases its business model on the fact that cars are idle 92 percent of the time.
    Crushpad (crushpadwine.com). The perfect solution for enophiles who crave the experience of making their own wine, but can’t afford to spring for their own vineyard.

Neal Gorenflo likes to share. The Mountain View, California, resident works out of a shared office space in San Francisco, editing the online magazine Shareable. He has no access to a car during the workweek; if he absolutely must drive, he checks to see what his neighbors have on Getaround, or he signs into the Bay Area’s City CarShare service. He started a tool lending library in his garage. And on a recent trip to New York, he stayed in an architect’s loft found via the sharing service Airbnb. “[The architect] built a cabin inside her loft, so I rented the cabin.” He prefers this to a cookie-cutter hotel room, plus he gets priceless nontouristy tips from the owner of the property.

About seven years ago, Neal became so disillusioned with the meaninglessness of his job at a shipping company, he quit to be more connected to his community. After bouncing around Internet start-ups that facilitated collaboration and sharing physical assets, he launched Shareable.

Neal is far from alone in his commitment to the lifestyle. Whether motivated by the harsh necessities of a tough economy, a concern for conserving Earth’s diminishing resources, or simply a desire to connect, more and more of us are participating in “the sharing economy.”

People have always shared things, of course. But changes in technology are making it easier to coordinate with complete strangers. Before Internet and the iPhone, how would you ever know that the guy down the street was willing to rent out his Prius for $10 an hour?

“We now have this global digital Internet platform that can locate us and things on the planet physically,” says San Francisco’s Lisa Gansky, author of 2010’s The Mesh: Why the Future of Business Is Sharing. “We’re in a moment in which access to goods, services, and talent is going to triumph over the ownership of them.

All these things we historically imagine owning—homes and cars and bikes and tools—can be put on a network that makes them accessible to others when you aren’t going to use them for periods of time.” And in the next three to five years, she predicts, whenever you buy something, it’ll automatically be logged into a shareable virtual inventory. It’s social media, the next wave, connecting not just us, but our stuff.

The Bay Area, home to a tech-savvy populace and early Web-sharing platforms like eBay, Craigslist, and Apple’s iTunes, is a hotbed for this type of economy. It’s a place where enough people are willing to open up their cars and homes to strangers so that locally founded services like Getaround and Airbnb have quickly reached critical mass. (Airbnb was valued at $1.3 billion in July and claims more than 2 million total bookings.)

 

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