Is The "Sharing Economy" Here To Stay?

“Where are you staying?” “Brad’s house.” “Oh, how do you know him?” “I don’t.”

Five years ago that conversation would have sent my parents into a frenzy, but now they welcome it, knowing I’m going to experience more than simply a hotel room (and saving on accommodation costs too)!

The sharing economy seemed to burst out of nowhere and has truly taken over every industry it has touched. Traditional industry formats are having to adapt and change to accommodate, due to the massive shockwaves caused by the far less established intruders – a fact that has been bemoaned by many within those industries.

The taxi industry has been overrun by the phenomenon of Uber; companies like Airbnb are shaking the accommodation industry; the fashion industry is suffering at the hands of closet-sharing and buy/sell/swap groups; even basic labour is being shuffled through the hands of websites like Taskrabbit and Fiverr.

Just as the industrial revolution did not wait for those who liked the old ways, and the technological revolution paid no mind to those who preferred paper, so too will the sharing economy continue to steam ahead.

It is all we can do to adapt, as we have always done, and work out the kinks as we go.

Sure, there are some clear faults in the system – safety, for example – however, they are no different from the other bumps in the road that society has encountered thus far. Industry is revolutionising in just the way it always has: abruptly, and to the great annoyance of those who have conquered the current system.

It’s time for Australia, and indeed, the world, to stop fighting the sharing economy with frivolous and inefficient lawsuits, and start dealing with the plain future of industry. Things are going to change, like it or not – it’s up to us to change with them.

Congratulations to Bethany for winning this writing challenge, answering: Is The "Sharing Economy" The Way Of The Future? Bethany wins a $50 Westfield gift card for her submission. For your chance to win, check out our latest writing challenges in our Comps section. Also, be sure to follow this guide on how to win the writing challenge!