January 27, 2016
Airbnb, Uber, Lyft and similar tech-based start ups continue to disrupt industries ranging from hospitality, to transportation and real estate. This week, panelists at VerdeXchange and ULI’s FutureBuild 2016 came together in DTLA to discuss such effects during “The Sharing Economy’s Promise and Challenges” panel.
Moderated by Jon Healy (an editor at the Los Angeles Times), the panel included Vince Bertoni (prospective Director of Planning for the City of Los Angeles), Ronen Olshansky (Co-founder and CEO of Cross Campus), and Jacob Lieb (a sustainability leader at MTA).
Olshansky noted that as a byproduct of the post-2008 economy, urbanization and new business models have propelled the success of co-working space companies like Cross Campus. While co-working spaces make up less than “two percent of the office market,” there is a growth potential of “15 to 30 percent” in the next decade. Olshansky says, “No one wants to own anything anymore. People want amenities and service with flexibility, especially millennials.”
Regarding regulation of shared economies and service apps, Bertoni explained that both are increasingly hard to regulate. He cited code compliances for Airbnb that are costly and require investigation warrants. While there’s virtually no way to level the playing field between start-ups and commercial companies, the main task is to understand what old policies are still necessary to consider in a changing economy geared towards amenities, immediate satisfaction and services.
However, the intersection of ingenuity and technology is inspiring, as new business models can lead the public sector’s adoption of novel practices and solutions for old inefficiencies.