Ride Sharing is about livery and delivery, transforming your vehicle, a traditionally non performing asset into an income producer by utilizing platforms like Uber, Lyft, Uber Eats, Amazon Flex, Door Dash and Grubhub to name a few. This also isn’t a new concept, maybe around since the invention and production of the car or even further back to the horse and buggy or rickshaw. If you can produce enough income with your vehicle to eliminate your transportation expenditures then its almost like having a car for free. This saves you from using earnings from your job to pay for transportation expenses which can be allocated towards passive income producing assets.
During the IMF 5th Statistical Forum, Measuring the Digital Economy, JP Morgan Chase Institute, Fiona Greg, found that sharing with these types of platforms, titled “Labor Platforms”, made up 24%% of the users income, averaging $1,024 income per month per user in 2015/2016. IMF Video about Measuring the Digital Economy starting at 1:45 – 15:15.