Monday, September 9, 2013

Get used to the Peer to Peer economy



Recently, across the country as well as in New York City, the peer-to-peer economy, also known as the sharing economy, has flourished. New start-ups have been created in which New Yorkers can rent out their homes to visitors, give rides to people with their own cars, and even host dinners for travelers looking to experience something new-all for a fee, of course. Peer-to-peer startups are bringing in a significant amount of revenue to the city’s economy; and yet the city continue to serve as hindrances with its outdated regulations .
 
These industries “…combine smartphone applications and cloud-computing services with the belief that sharing conserves resources, builds community and promotes economic development.Sidecar and Relay Rides are companies that function as personalized versions of taxi-service, have recently had their service halted due to regulations by the Taxi and Limousine Commission. The Commission assures that it doesn’t have a problem with neighborly car-pooling, but that these companies are operating as unregistered taxi services, which is illegal. Similarly, the Department of Health has notified EatWith, a company which lists various home dinners tourists can attend in over twenty countries, because “anyone serving meals for money is required to have a permit.”

It is obvious that the city is not interested in working with these Peer to Peer companies; which is unfortunate because the demand of these peer-to-peer industries is increasing. The city should be spending less time impeding the development of these innovative industries, and should spend more time fostering their growth. 
 

http://www.crainsnewyork.com/article/20130825/ECONOMY/308259963

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