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The San Francisco Bay Area, home to the most famous tech startups like Facebook, Google and Yahoo and a large number of Non-Profits is becoming one of the pillars of the new sharing economy.
In fact the city government, known for being among the nation’s most progressive, is getting behind the sharing market.
“That is the secret for establishment of strong institutions focused on the new market style,” one speaker said.
City officials from 23 different countries met with journalists, on Wednesday October 7 at City Hall and they said the government is encouraging the sharing economy, which is grown from informal connections between people who share what they already have, like cars, homes, tools, skills–to an emerging, multi-billion dollar business sector.
This new business is now facilitating millions of “collaborative consumption” transactions across the globe each day. For instance major companies who are popular like Uber, City CarShare, Lyft, RelayRides, Shareable, Taskrabbit, Vayable and Airbnb are based in San Francisco, California.
There are still discussions about the legality of some of these businesses but the city is supportive of them because they improve lives.
“This is one type of emerging industry,” Jay Nath, Chief Innovation Officer of the Office of the Mayor at the City Hall said.
He said that the government has opened a specific office for the sharing economy.
“The office has been opened to make the government more efficient, to be more responsive and to take new ideas from local communities,” he said.
One new twist to sharing is the science exchange, a marketplace for scientific collaboration, where researchers can order experiments from the world’s best labs.
The sharing economy, which a new market behavior that is growing in the US and some other European nations, is a socio-economic system built around the sharing of human and physical resources. It includes the shared creation, production, distribution, trade and consumption of goods and services by different people and organisations. These systems take a variety of forms, often leveraging information technology to empower individuals, corporations, non-profits and government with information that enables distribution, sharing and reuse of excess capacity in goods and services. A common premise is that when information about goods is shared, the value of those goods may increase, for the business, for individuals, and for the community.