MOST South Africans have heard about Uber, not only because of the company’s marketing tactics, but also because Uber has been in the news for all the wrong reasons. Spawning strikes, outbreaks of violence and intimidation by the traditional taxi industry, the service — hailed as a business model innovation by many a scholar — is doing what technology innovation does best: disrupt. Uber’s is described as a collaborative consumption business model, which is a derivative of the sharing economy. According to global law firm Norton Rose Fulbright, such business models are an unstoppable force that has taken root in the wake of the financial crisis. Now generating about $15bn in global annual revenue according to a recent PwC report, the so-called sharing economy has already revolutionised a number of industries and is showing no signs of slowing down. Driven by a fundamental shift from private ownership to shared usage and access, the sharing economy promises to provide potential benefi...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now