Some people possess such an entertaining style of writing that it is a pleasure to read anything they happen to write. Such is the case with Ted Bauman. In his official capacity as the Editorial Director at Banyan Hill Publishing, Mr. Bauman oversees several influential sources of financial information, and is an expert in the fields of investment strategies and asset protection.
Ted Bauman is also a wonderful writer who regularly contributes fascinating articles to the medium.com website. In an article that he wrote about the Sharing Economy in July of 2017, Mr. Bauman lightheartedly relates his experience with renting a recreational vehicle from a peer-to-peer rental service.
The article starts out with Ted Bauman lying in a puddle of mud underneath the RV that he rented for a cross-country trip to Minnesota. Due to a broken automatic power transfer switch, the generator on the RV malfunctioned, leading Bauman to attempt to fix the problem. The keys for the storage lockers on the RV broke in a lock on the first day of the trip, meaning that they could not access the hookups for water, sewer service and electricity.
Before embarking on the trip to Minnesota, the idea of renting an RV from a sharing economy service seemed like a good idea. In reality, however, a few issues arose with the overall condition of the vehicle, and Mr. Bauman found that communication with the rental service over repairs was difficult to achieve.
In examining the sharing economy model, Ted Bauman brings up the advantages that both users and suppliers can experience, and he also mentions some of the downsides that can be present.
From ride-sharing drivers who provide bad service, to bed and breakfast operators who provide untrue descriptions of their facilities, there are things that consumers have to contend with when they are utilizing this type of business model.
In his final analysis, Mr. Bauman states that until there are specialized businesses, such as independent mobile technicians, that can help to provide support for these peer-to-peer business services, the average consumer is probably better-off using more traditional business models.