The results are in for the sharing economy. They are ugly

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An Uber ride in Brooklyn last month. The ride-hailing company’s business collapsed in March as shelter-in-place orders spread through Europe and the United States.

 Lyft, Uber and Airbnb depend on travel, vacations and gatherings. That’s a problem when much of the world is staying home.

OAKLAND, Calif. — The coronavirus pandemic has gutted the so-called sharing economy. Its most valuable companies, which started the year by promising that they would soon become profitable, now say consumer demand has all but vanished.

It is not likely to return anytime soon.

Continue reading… “The results are in for the sharing economy. They are ugly”