THERE have been examples of sharing businesses that have run flat, at least in some markets.
In Singapore, bicycle sharing comes to mind, with the two-wheelers discarded around the island.
But there are also examples of sharing that has worked very well. Airbnb being a good example. But it’s probably the only success story.
Why is it so difficult for those entering the sharing economy to succeed?
Prof Ben Choi reckons many businesses do not have a compelling business model to start off with.
He also warns people entering the sharing economy that they shouldn’t enter the fray bent on success. He warns those dashing in to remember the dot-com failures.