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Earning Money In The Sharing Economy

Using Things You Already Have

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Make Money Whenever You Want

Adam Masonbrink is a young man between jobs, living in San Francisco who makes ends meet beautifully thanks to the new sharing economy.

He rents out a spare room, or the whole house as needed, on Air B & B. He drives a few days a week on LYFT, a ride sharing app that connects people driving around with a vacant passenger seat with people needing rides. He gives tours of San Francisco through another peer to peer service called Vayable, where locals take people around the town on customized sightseeing tours.

The Sharing Economy lets people take what they already have, like a car, a spare room, power tools, or knowledge of a city and translate it into money. They all say the best part though, is meeting the people and building community.

"Trust is the biggest thing" he says. "Having that user feedback is the most important thing to build trust."

In all these new sharing economy enterprises, the common thread is that folks on both sides of the interaction rate each other. Like Ebay, you can easily see the track record of the person you are considering doing business with.

The flexibility can't be beat. This new way of doing business happens at your own speed, you set the price, and determine exactly how you want to run it. So we can all make a few extra dollars.. whenever we want!

--Bibi Farber

This video was produced by Forbes