Shared Economy

What is it?

Shared economy is also known as "collaborative consumption" and it is where there is peer-to-peer-based sharing of goods and services. The sharing of these goods and services is often done through online where users can interact with one another.

How did it become famous?

The trend of "sharing economy" first started in the year 2000. This was when the population was increasing and thus resources was depleting. When it started it seemed like a very innovative idea. The reason why it picked up was because it took advantage of all the people that started getting computers!

Then in 2011, "collaborative consumption was named one of TIME Magazine's 10 ideas that will change the world"