Think of the essence

(We were once excited about) the hotel-free business, the taxi-free business, and thought it was an expansion of the new business sector. But there is one thing that is important that we overlook.

The consumer's view of cyclical function remains unchanged.

Platform businesses such as Airbnb and Uber provided services to consumers in a different way from traditional businesses. They reduce prices by free market entry into existing hotel accommodation and taxi transportation.

It was noted that the connection between consumers and suppliers could lower the cost of exploration in the market, thereby lowering the price and accommodating the needs of various customers. Uber is also a concept that the individual's self-possession can accommodate consumers' needs by expanding the supply to the taxi business and individuals can earn profits from their own cars in their free time. But the advent of a new business platform is just an increase in choices. Still, the services consumers want to enjoy are no different from those they would have in traditional businesses. However, Airbnb and Uber are not actively dealing with consumers' feedback and inconveniences. Market entry to a new business platform is a new opportunity, but the cyclical nature of the services to be offered must be considered. In addition to the NSSS and T/G, the secondary and derived functions would not complement the NSSS and T/G.

It is basically safety and security that we travel and use the hotel. It's time to think again about the cyclical capacity of Airbnb and Uber.

Steve(JongMyoung) Park, Ph.D.

Ph.D. in Business Administration

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