Sharing in the isolation economy

Nice article about what is happening / likely to happen to the sharing economy high fliers (think Airbnb, Uber, Lyft…) given the pandemic.

Most of these companies have already cut up to a third of their workforce (Bird laid off 400 about a 1/3, Airbnb laid of 1,900 about 1/4, and Uber let go ~6,700, again about a 1/4). Not surprising given the drop in consumption — Uber rides fell by ~80%.

Things seem to be coming back, but with differences. The average length of a Airbnb stay has doubled to nearly a week, the share of domestic (i.e. US) reservations have doubled to about 80%, and stays less than 200 miles from home have gone from ~33% to ~56%. Similarly, rides on Birds are now 50% longer than before the pandemic.

Worth a read.