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  3. the sharing economy is a fast-growing phenomenon.

The sharing economy is a fast-growing phenomenon. People increasingly share their home, car, clothing or...

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Question

Accounting

The sharing economy is a fast-growing phenomenon. People increasingly share their

home, car, clothing or tools on Internet platforms such as Uber, WeWork, and Airbnb. Statistics

shows that there were 44.8 million adults using the increasingly popular sharing economy

services in the United States in 2016. This figure was forecast to increase to 86.5 million by

2021.

Required:

Choose a sharing economy based company, briefly describe the business model of the

company, show the major costs of the company (please be specific and thorough), and discuss

the major challenges faced by the company to reach break-even (please limit your answer to

600 words or less)

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