The Lyft Experiment

Gen Y Finance Guy Financial Freedom, Income Streams, New Rules, Share Economy 3 Comments

The best thing about this day and age is there are so many alternative ways to earn money. In a previous post I talked about how I was embracing the “Share Economy,” whereby you basically find a way to earn money with the “excess capacity” in the things you already own. A few posts ago I talked about leveraging the share economy to rent a room out in my house (think Airbnb and Craigslist), today I want to talk about my newest experiment with Lyft. Ride share apps like Lyft (and Uber) are disrupting the taxi business (and possibly other businesses in the transportation space). The app that each of these companies provide is easy to use and removes friction from …

The Share Economy & Rental Income

The Share Economy & Rental Income

Gen Y Finance Guy Share Economy 2 Comments

You may have noticed that the tagline of this site is “we do things differently”. The “Share Economy” is the perfect example of how Gen Y does things differently. We have taken the idea of rental income and found a way to leverage technology to rent excess capacity in things we already have to our peers. The best example of this is Airbnb, which allows you to list a room or your entire place for rent (regardless of whether you currently own or rent). This is disrupting both the hotel and rental market which has traditionally been dominated by deep pocket investors. Airbnb takes all the friction out of the rental process. They handle identity verification, payment, communication, and they even have a peer review process …