Summaries

 -Uber supporters in their tens of thousands have signed an online petition defending taxi service.  

-Although Uber has become a greater part of the “sharing economy” many do revolt, showing a bias side to this. So what aspects of the sharing economy are not really about sharing? Having friends to stay over is sharing. Handing them a bill with their breakfast makes one a hotelier.

-Giving somebody a lift is sharing. Charging them for it makes one a cabbie. According to critics Uber drivers are not sharing, they are selling.

-There is nothing wrong with selling, but it is supposed the sharing economy is a tautology (Same thing different words).

-Uber is succeeding partly because it has solved a problem that was fixed a while ago in the heavy transport industry: do not have an empty vehicle on the return journey.

-Peer-to-peer lending is a more extensive version of the "friends and family" approach to seed funding entrepreneurs and start-ups.

-However, Uber, falling under the “sharing” economy really got going because of the recession and the economic pressures and opportunities it helped to create.  

     (Graph from http://one-europe.info/eurographics/infographic-the-rise-of-the-shared-economy)

 -Uber has recently entered the battlefield going up against licensed Toronto taxis which has evidently been a tremendous feud specifically among the taxi business. Taxis are disappointed that Uber can just walk in and steal business.

-However, taxis were reasonably the only form of transportation after hours or at customers service 24/7 throughout the past few years. Taxis had control of pricing and the taxi corporation were not impressed by Toronto letting Uber come right in to business.

-Taxi drivers are fighting against Uber for not paying licensing fees, Taxis charge higher rates because they pay fees to the government, generating a lower amount of profit compared to Uber.

-However, Uber is a private corporation meaning it is a non-governmental company in which case they are objecting to taxis debate on them paying fees. 

In Depth Analysis

    - The sharing economy has become a core part of the market economy recently. Its definition is simple. To share one's own resources with the world, in exchange for revenue. Uber has become the top addition to the sharing economy allowing even unskilled individuals to use their cars and transport people who need it.
 
- A Sharing economy is a sustainable economic system that is built around a long term vision, always considering the impact and consequences of present day actions on the future. Uber both empowers its citizens economically and socially and enables the economic and social redistribution of power.
 
-As Uber is the highest valued private corporation, it has gained a vast amount of benefits. Limited liability protects the personal wealth of  Uber's shareholders, and does not put personal assets at risk. Also they do not have to plan for the short term as much as publicly traded companies do to satisfy shareholders and keep daily stock prices up
 
-Furthermore, It may be that Uber can be diving into a monopolistic competition? Another factor of market structure. What it means to be in a monopolistic competition is the exclusive control of a commodity or service in a particular market, or a control that makes possible the manipulation of price, kind of like monopoly, but with many substitutes and sellers that strive to be the at the top.
 
-The challenge for the would-be Uber usurpers or even the original Taxi companies is to find a need that matters to people when Uber's existing services already satisfy so many of them (market dominance).
 
-As competition ramps up, Uber will reign supreme, Uber is a new technology so smart that it's simple as a car that comes from a modern garage. Simple but powerful, a monopolistic substitution that has already taken over and only stands for the smartest, Uber takes the trophy.
 
-Taxi drivers should have prepared for this as a monopolistic competition and being the apex of all public transportation does not last forever.