The Ridesharing Economy and Its Impact on Businesses

With a tap on your phone, you can now get anywhere you need to go without going through the hassle of hailing a cab or using the subway to get to your destination. 

It's more convenient because it gives you more flexibility with your time and you don't have to walk and stand a lot. But it seems passengers may not be the only ones benefiting from these ridesharing services. 

Research from UPenn doctoral students Caitlin Gorback and Xiaoxia Summer Dong looks at how they are influencing consumer habits, public transport usage, and business opportunities.

Gorback is looking at whether previously inaccessible regions—for example, those a far walk from the nearest subway or bus station—have seen an uptick in businesses and restaurants moving in to coincide with the ride-sharing boom.
And according to Dong’s project, after Uber arrived in Philadelphia, ridership on the city’s public transit options decreased significantly, in some cases to the lowest levels since the 2008 recession.

These are some examples of how technology is shaping the way we live our lives from how we do business to our daily habits and decision making. How has Uber and Lyft changed your life?

(Image credit: Thought Catalog/Unsplash)

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