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The 'sharing' economy: profits and pitfalls

It's a new dawn for key services, but critics say the rising sector is an unregulated Wild West

Washington

IT'S a new dawn for transport, lodging - and pretty much every service under the sun - and it's all about "sharing". The so-called sharing economy gained traction across the globe in 2015 as Uber upended the taxi business, Airbnb disrupted the hotel sector and a host of online and mobile startups let people moonlight as chefs or handymen.

Many see great promise in the collaborative economy, starting with the people flocking to it as a way to turn their car or apartment, spare time or hobby, into a source of revenue - with far great flexibility than a conventional job.

A PricewaterhouseCoopers (PwC) study estimates that the "sharing" or "peer-to-peer" economy will explode from roughly...

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