To encourage efficiency, we would want a proper set of regulations and taxes and have them apply equally to everyone. The point is to encourage people to make profits by providing better products or lower cost services, not to get rich by finding clever ways to evade regulations.
Is Uber worth $18 billion? Hey, why not? But that doesn't matter. What matters is that a lot of smart people believe it's worth $18 billion and there are a lot of smart pundits and analysts will back up this belief too.
Renting a house, snagging a ride on your smartphone, and de-leveraging your balance sheets would truly be a new American way, with tremendous implications for policymakers including the Fed if a geopolitical or natural disaster hit and it was stuck at an already low interest rate.
We recently embarked on a project to elevate the awareness of the sharing economy and are proud to share a look into a Day in the Life of the Sharing Economy. This movement is not just a trend, it's a way of life.
What industries will change and who the winners will be in this era of exponential technologies are uncertain. The only things that are certain are that we are in for dramatic changes, and that the old rules don't apply any more.
The reality is that Lyft and Uber provide massive mounts of insurance coverage for passengers personally than the coverage provided by taxi companies. The very same taxi companies leading the campaign claiming that ridesharing companies will leave you without coverage.