I am an young entrepreneur and I love the fact that this country has so much to offer and yet it scares me. Every morning, I go through my Twitter newsfeed and I come across at least one tweet from Uber, Lyft, Airbnb, Sidecar, Tesla or Aereo (may/may not exist) which talks about fighting the US regulations and government to protect their business.

Our government today is DICTATED by political leaders! Why not let the market decide the direction of their success or a failure? Aren’t we all part of the free world?!

Just like any other millennial, I rely heavily on my smartphone. I have three apps downloaded on my phone- Uber, Lyft & Airbnb. I use them and use them a hell lot!! And so do my friends and co-workers AND family! We are all trying to share about these new ventures to people who have never heard of, so we can earn free credits. Sharing economy is a growing industry. By sharing I don’t mean sharing credits. I mean…utilizing your existing resources that you can capitalize on by sharing with your community and earn an extra income. It is effective and efficient! Sharing economy is here to stay!

Whether these companies are disrupting the market or impacting lives of many people, each have their own benefits.

1. New ventures today serve as a medium for people to become an entrepreneur.

We live in a competitive market. People are motivated, but don’t have resources or either clueless about where to start. Car sharing apps like Uber & Lyft or house rentals like Airbnb enables people to utilize their existing resources to generate extra income which they wouldn’t have otherwise. It enables them to become a sole proprietor without any hassle or having to deal with limited legal paperworks.

2. Launching a business is risky and not guaranteed. However, these ventures are making it easy and less risky.

Being a part-time entrepreneur is tough. It is capital intensive, time intensive and there is an opportunity cost involved. Not to mention, nothing is guaranteed!! Launching a business is a roller-coaster ride! Companies like Airbnb and Uber mitigates risk/s. It allows drivers or renters to choose their own hours and utilize their resources on their own variables. This also makes economy much more stable.

3. It’s all about people, customer service and user-experience!

These companies are enabling customer centric services. Traditional cab drivers are usually on their phones or they don’t care to talk to you. On the flip side, Uber & Lyft provide you the best services by greeting you, offering water & candies and giving recommendations on local restaurants & hangout spots. Friendly interaction restores faith in humanity and brings customer back again.

4. Extra income is leading to paying off loans quicker!

Two weeks ago, I met a Lyft driver and asked HER (Yes, her! There are a lot more female drivers today than traditional male cab drivers) about the success she has had with working part-time for Lyft. She responded by saying she is thankful for Lyft. She said she has a day job as an Accountant and during the night she drives people on Lyft, so she can earn an extra income and pay off her tuition loans asap. She said after paying off her loans she would like to start her own thing. Like Mark Cuban said college debt is crippling our economy and paralyzing many people from pursuing their own startups or dreams.

4. Prevent future bailouts!

Tesla is another example that is disrupting the automobile industry. Wasn’t it 5 years ago when the US government had to bailout US automobile industry? Despite the bailout GM & Chrysler declared bankruptcy and Ford was forced to take taxpayer billions from US. Today, these companies are fighting and lobbying the Tesla Motors business model in Washington. Traditional automobile industry is capital intensive and relies heavily on logisitcs. Tesla is cutting the middle man and thinking outside the box to make the industry more stable. This can prevent future bailouts worth billions of dollars.

Benefits are larger for our economy and the growth. Industry regulations need to be changed or re-written!

However, our political leaders are concerned about their next election and they care to solve only short-term problems. Why would they care anyway?! They need to win their next election and their job is done. They don’t serve people. They serve old traditional rich lobbyists.

The future of our nation, neighboring partners and people is in our hands. For us millennials we can’t let them defeat us. Keep fighting for the better future and common interests!

We’ve been taught to conform, follow the rules, fit the norm and play it safe, when we know that’s the riskiest thing we can do. Maybe we can change that by not living the way we’ve been told!

Let’s push for change!

I would love to hear your opinion. Tweet at me or reach out to me at www.themihirchronicles.com.