Trusting the sharing economy4 min read . Updated: 08 Jun 2016, 02:36 AM IST
On-demand businesses are almost always superior to their old world counterparts
The crackdown by the Karnataka government on taxi aggregators Ola and Uber has caused considerable consternation in print and social media. However, this type of government action is nothing new for the sharing economy. Almost from the moment on-demand services began operations, governments around the world have literally fallen over themselves to regulate them—egged on, for the most part, by lobbies comprising the same mainstream industries that these start-ups were working to disrupt. These “threatened" industries argued that while they are obliged to comply with industry regulations, these new disruptive industries were providing the same service without complying with regulatory requirements.