“This is just the beginning for the sharing economy,” said Arun Sundararajan, a New York University professor who follows the sector. Sharing economy firms have also sparked their share of controversy. By gaining access to capital on Wall Street, sharing economy firms may be able to grow even bigger and flex their power more in disrupting traditional kinds of services. The IPOs suggest that the sharing economy “is ready for prime time,” said Saif Benjaafar, director of the University of Minnesota’s Initiative on the Sharing Economy. Sundararajan said one of the main challenges for the sharing economy will be what happens to the “social safety net” which includes benefits such as health insurance, sick leave, and retirement.

Source: The Express Tribune March 06, 2019 06:17 UTC