What Makes or Breaks Startups in the Sharing Economy? Insurance Rates
EXTRACT
Insurance represents both the lifeblood and the biggest threat to the sharing economy. As I explore in this month’s WIRED cover story, companies like RelayRides — or Airbnb, Lyft, or any other sharing company — depend upon its customers’ willingness to trust one another. These businesses have devised numerous mechanisms to engineer that trust, but perhaps no one feature has been as important as insurance.