I'm going out to Colorado with a buddy of mine to do some skiing in February, we just finalized our accommodations and the sharing economy has really come in handy. Rather than paying a few hundred dollars per night at a hotel we're staying in someone's basement via Airbnb for roughly 40% of the cost. I have been following Airbnb closely over the past few years and recommended them to friends and family on numerous occasions, but this is my first time using them. We also decided to try Relay Rides as opposed to Hertz, Enterprise, etc. for our car rental, which if you're not familiar is like Airbnb for cars. Both of these companies have saved us several hundred dollars, but more than that they have changed how I travel altogether. These idea's would have seemed utterly outrageous five years ago, but this trip was an "ah-ha moment" for me and one which made me realize how much potential those "utterly outrageous" ideas can have.
The quality of our trip is now in the hands of individuals not companies (for the most part). The variety of options available to us when making our accommodations has increased dramatically and the costs have come down significantly. Furthermore, the economic value is now going directly to a person as opposed to a company (again for the most part). If you would have asked me five years ago what would have to take place for the Hilton's and Alamo's of the world to have their business model threatened I would not have had an answer for you. When you start to estimate how much money companies like Airbnb and Relay Rides are costing incumbents it really makes you appreciate the nature of innovation.
I think sometimes we all tend to underestimate how much companies like Airbnb and RelayRides are affecting the world around us. I urge everyone to take a step back every once in a while and appreciate the progress being made right in front of us.