Tech lift to productivity overlooked? The Fed doesn't think so


Overblown?: For all the hype about the new sharing economy espoused by tech companies like Airbnb to Uber, it doesn't seem to have had any actual impact on the US economy. Photo: Reuters

SAN FRANCISCO: Steve Gutmann used to have a basement that he never used. His Honda Civic sat idle in front of his Portland, Oregon house.  

Now strangers use Getaround.com to book Gutmann’s US$6 (RM23)-an-hour car for errands and travellers stay in his newly refurbished basement apartment, listed at US$115 (RM444) a night on AirBnb. Gutmann and a business partner are developing a new app that lets people get more use out of their possessions. 

Limited time offer:
Just RM5 per month.

Monthly Plan

RM13.90/month
RM5/month

Billed as RM5/month for the 1st 6 months then RM13.90 thereafters.

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
   

Next In Tech News

AI spending worries cast gloom over Alphabet, Microsoft
Electric cars and digital connectivity dominate at Beijing auto show
Most global tech leaders see their companies unprepared for AI
India plans curbs on suspect bank accounts to fight cyber fraud, sources say
Tech companies plug into India's smaller cities for talent
Tencent pushes wider adoption of AI-powered smart mobility system from a vehicle’s cockpit to the factory floor
Artificial intelligence offers an opportunity to improve EV batteries
Apple still leads high-end smartphone sales in China, but Huawei and Honor are catching up
Brave China ‘cancer warrior’ dies two days after 25th birthday, final wish to find brother a girlfriend left unfulfilled, leaves netizens devastated
Meta shares plunge as prolonged AI spending plans unnerve investors

Others Also Read