The sharing economy: Benefits of access over ownership

For decades, the list of things consumers could rent primarily included like apartments, hotel rooms, cars, and recreational equipment. The internet disrupted this status quo by giving us the ability to have access to almost any tool, item, or service without needing to own it. Internet-enabled sharing and renting are efficient and economical because the internet helps to reduce the friction of financial transactions as it matches consumers who want to borrow (as opposed to own) assets with owners who are happy to share as part of a collaborative consumption or sharing economy.