In this installment of Serious Business on the Inc. Uncensored podcast, Inc. San Francisco bureau chief Jeff Bercovici debates journalist Doug Henwood about the sharing economy--is it good or bad for the economy?
We all love the convenience the sharing economy offers. Thanks to companies like Uber and Airbnb, you can go to a new city, get a trusted driver to give you a ride to a house you're renting for a reasonable price.
But what is the effect on labor and the over-all economy?
Henwood says Uber is taking advantage of the desperation of the country's working class and Uber drivers don't make much money. Airbnb is helping to raise rents for locals in urban neighborhoods. Bercovici says these companies are fulfilling a need--the existing taxi system was exploitative in itself and inefficient, while Airbnb has usurped a hotel industry that was too expensive for many people to afford.
Find out who wins the debate above.