DriveShare Aims to Encourage Vintage Car Ownership

Inventors are continually innovating and making the world a better place. Some of their innovations include new medications or life-saving devices. Other inventions are to make life easier or more convenient, or just to allow people to have more fun. No matter how you look at it, though, most people would agree that technological growth has given people access to everything they might ever need. There's food delivery, transportation, short-term housing, and car rental, all available through apps on your cell phone. Now, Charles Fleming's L.A. Times article points out, there's even an online service designed specifically for lovers of vintage cars.

Airbnb, one of the most popular apps on the market, makes billions of dollars per year in revenue, by facilitating the rental of homes and apartments on a short-term basis. Apps like Getaround and Turo allow users to rent cars owned by other users in order to get around, but some users are looking for different styles of cars not usually offered by those ride-sharing apps. To address that demand, a group of innovators created an online service, dubbed “the Airbnb of classic cars,” called DriveShare, which allows users to rent (or rent out) vintage and classic cars.

Vintage cars are one of those commodities that just gain popularity as the years go on. In the modern day, where vehicles tend to be made of cheaper materials, with more electronic bells and whistles, some drivers prefer the experience of a sturdy, solid metal, classic car. They like the way they run, they like the way they look, and they especially enjoy how much more durable classic cars tend to be. Eventually, at some point in the future, "classic cars" won't be a thing anymore, because many of them are over 40 years old and only last so long, but for now, this business seems to be working.

The company was founded by a merger between a rental company called Classics&Exotics and one of the nation's largest vintage car insurance companies, Hagerty. The merger allowed for the company to gain access to a database of a million vintage vehicles, with around 300 types of car to choose from. The rental prices range from $99 to $3,300 per day for Porches to Lamborghinis and everything in between. According to the founders, this service has two goals: to give people the experience of driving a vintage car, to help them see if they might want to buy one themselves; and to help vintage car owners somewhat subsidize the cost of their vintage car by renting it out on a day-to-day basis. Both goals point toward one thing: the innovators who created DriveShare really seem to want people to have every opportunity to drive, or even own, a vintage car.

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Upcoming Eclipse Expected to Raise Thousands in Revenue for Small Towns Throughout America

Eclipses are one of the only astronomical phenomena that can be seen from Earth without the aid of a telescope or other viewing device. Because of that, an eclipse can be an exciting event for locals and tourists alike. They are so uncommon that people travel from miles around to be able to see one. This year especially has been a big deal, because the so-named "Great Solar Eclipse," happening next month, is the first total solar eclipse to be seen in America in nearly 100 years. According to Rachel Spacek's L.A. Times article, the eclipse is expected to raise thousands of dollars in revenue for individuals and businesses alike across the country.

An eclipse is any obscuring of the light of one celestial body by another. Lunar eclipses can happen when the moon is on the opposite side of the Earth as the Sun, in which case, the Earth's shadow passes over the moon and blocks its light. In the case of the upcoming Great American Eclipse, however, the moon will be passing directly in between the Earth and the Sun, which will block all but a corona of the Sun's light from reaching the Earth. Because of the relative sizes of the celestial bodies, lunar eclipses are far more common than solar eclipses, which makes the Great American Eclipse all the more exciting for viewers.

Although over 12 million Americans live somewhere in the "path of the totality," which is the area where people will be able to view the total solar eclipse in its entirety, millions more are going to be coming into town for the day, just to watch the phenomenon occur. The increased tourism, even just for a day or two, is expected to provide huge boosts to the economies of many small towns along the path. In states like Idaho, where the cost of living is usually very low, residents are taking advantage of the supply-and-demand aspect of the upcoming event and aiming to make a lot of money off of out-of-towners. Some are using sites like Airbnb to list a bedroom for over $1,000 on the night before the eclipse. Hotels have been sold out for months, if not years, and some people are even spending hundreds of dollars to camp out in people's backyards.

Souvenir companies are also making a killing off of the upcoming eclipse. From glow-in-the-dark T-shirts to temporary tattoos and luggage tags, people are selling anything and everything related to the eclipse. People are traveling for miles and paying thousands of dollars to see the eclipse, so it makes sense that they also want souvenirs to help remember the experience. Not only are online businesses getting a boost, but local businesses in towns along the path are expected to face a rush of new customers during the week of the eclipse. Restaurants are stocking up on menu items and are planning to truck in their employees to increase the number of available parking spots. Even Porta-Potty rentals are doing well in expectation of the increased number of people.

Supply-and-demand really is the name of the game. Tourists are looking for a place to stay and are willing to pay the money for a once-in-a-lifetime experience, so why shouldn't the small town residents make money off of it. No one is forcing people to go out and view the eclipse. It seems comparable to an amusement park charging high prices for patrons to get in. If people want to ride the roller coasters, they need to pay whatever price was set. And, for these small towns along the path of the totality, this chance to boost their local economy is a once-in-a-lifetime opportunity, as another total solar eclipse won't happen for several decades.

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General Motors Prepares to Become More Involved in "Ride-Sharing" Economy

Companies like Airbnb, Uber, and Lyft work based on opportunities available in what is called the "sharing economy." This generally means that their businesses run on the principle of connecting individuals that are willing to share their home or vehicle, for the right price. This type of business model is also known as "crowdsourcing" or "crowdfunding," and mainly involves the business creating an app or website, and acting as an impartial mediator between owners and consumers. Samantha Masunaga and Charles Fleming discuss, in their L.A. Times article, a new type of crowdsourced company called Maven, which involves the short-term rental of vehicles.

Just as Airbnb involves the short-term rental of a home, condominium, or apartment, Maven allows for users to "rent" a car for a short time. While the service has recently started in Ann Arbor, catering toward students at the University of Michigan, the company has plans to expand to other cities as the year progresses. Through this car sharing service, launched by General Motors, provides a free app on smartphones, which can be used to reserve a vehicle and unlock it. GM expects that a relationship with ride-sharing Lyft and its experience with services like OnTrac will help to make Maven a success.

General Motors is not the only company trying to get its foot in the door of this potentially lucrative business opportunity. Ford started a similar service in June and GM started a version in Germany called Car-Unity, which allowed rental to Facebook friends or members of the app's network. BMW has even begun to include features on their newest cars to allow for app-based connectivity. Everyone benefits: people have the ability to borrow a vehicle when they need one, and the owners of the vehicles are able to somewhat subsidize the costs of purchasing the vehicle in the first place.

Analysts wonder whether GM's decision, while bold, has long-term potential for the future. GM recently bought a failing ride-hailing company called Sidecar Technologies, Inc. and invested $500 million in Lyft. It seems that GM is trying to be prepared for any possible entrance into the ride-sharing market, and plans to do so by partnering with the best in the business. One day, GM hopes to partner with Lyft on an Autonomous On-Demand Network, which would even allow users to reserve self-driving cars. Although the market for self-driving cars has yet to fully expand, GM is planning ahead, predicting that today's investments will ensure success down the line.

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San Francisco's Anti-Airbnb Proposition Narrowly Fails

Short-term home or apartment rentals, usually through online platforms like Airbnb and VRBO, have been steeped with controversy in recent months. Some cities have even tried to ban such rentals while others have embraced them wholeheartedly. Most recently, San Francisco put forth a proposition to limit the ability of landlords to use such websites for renting their property. Tracey Lien, in her L.A. Times article, discusses how Airbnb affects both landlords and tenants, and how this new Proposition F may affect the city.

The controversy behind services like Airbnb is mainly one of a fight between a capitalist economic theory and one in which people deserve fair treatment. On the one side, tenants in San Francisco fear that the increasing prevalence of Airbnb will eventually lead the owners of their rented homes and apartments to evict them in favor of the larger sums paid by short-term renters. It is these tenants who would vote for the proposition since it limits landlords' use of Airbnb and their ability to turn normal rentals into short-term ones quickly. The proposition aims to prevent or at least slow down the conversion of apartment buildings into pseudo-hotels.

Some see it differently. While services like Airbnb could convince landlords to evict tenants in favor of the faster income, the free market could take care of any issues that arise from it. Eventually, if enough landlords raised prices enough to match the rising demand by tourists, ten the average worker would not be able to afford to live in the city. If workers are forced to move out, then business and regular city work will grind to a halt, When the economy halts in such a way, tourists will not want to visit, which will force landlords to lower their prices back to normal rates in order to get tenants. While this situation could probably work itself out, Proposition F aims to avoid it altogether.

Even for some landlords, Airbnb has uncomfortable implications. One Balboa Park resident, who had only ever rented his units out on a long-term basis voted against Proposition F. He worried that his tenants might use Airbnb to rent out his unit for short-term stays, a concept that he wasn't completely comfortable with. However,different from many tenants, he said that he would have voted yes on the proposition if he was in their shoes for that same reason: the ability to rent out the apartment in which one is living while out of town for short periods of time.

Unfortunately for those passionate about the topic, voter turnout for the proposition was extremely low. In-person votes were in the low hundreds, and mail-in votes reached about 9,000. In the end, Airbnb beat the bill, but even while celebrating, the San Francisco-based company expects further assaults in the near future. They believe that the proposition failed mainly due to its highly specific and extreme stance regarding the short-term rentals. Even so, the vote was close, with about 45% of voters supporting the proposition. Airbnb fears, rightfully, that behind the scenes, lawmakers in places like Los Angeles and San Diego may be getting ready to start the fight all over again.

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Santa Monica Council Bans Short-Term Rentals

5/20/15 - Hundreds of property owners, especially those living in vacation destinations, rely on the income that they earn when they rent out their homes, condominiums, or spare bedrooms to short-term visitors. Because of new laws passed in Santa Monica, these individuals may find themselves struggling to find tenants. Tim Logan, in his L.A. Times article, discusses the implications of Santa Monica’s law banning short-term rentals.

Tourists who come to places like Los Angeles, New York, and San Francisco are not generally there for a month at a time, but that is what this law will require. The law, in an effort to deter short-term renters and protect the hotel industry, bans rentals that last less than 30 days, and force individuals renting out a room to pay extra taxes similar to those paid by hotels. This, however, is not to say that the Santa Monica officials are only interested in protecting hotels. The council claims to be introducing these regulations in response to the complaints of annoyed neighbors and advocates for affordable housing in the neighborhood.

Home-sharing, the term given to the practice of renting out a room for a short period of time, has grown exponentially over the past few years. Websites like Airbnb, on which people post their rental listings, have become the place to look for anyone needing a place to live, albeit on a short-term basis. According to Logan, the home-sharing industry is booming and unlikely to slow down anytime soon. Profits are large and demand is high, so even with the new laws, people will likely find some way to keep doing what they are doing.

Some people providing housing through Airbnb are entrepreneurs, managing multiple residences and earning money left and right. Others are elderly and retired, who rent out their apartment when they go out of town to visit family. They encompass two ends of the spectrum, but both feel the same way: the regulations need to be changed. Many understand that home-sharing should be regulated to some extent; they just believe that an all-out ban is the wrong way to do it.

While some people fear that similar laws will be proposed in cities other than Santa Monica, Logan believes that the spread will be limited. Usage of online platforms like Airbnb is hard to keep track of, which is why the government may be afraid of its continued progression toward becoming an integral part of society. Logan recommends wariness when doing business with anyone, but especially with strangers met online. Some feel that laws and governmental oversight would reduce risks. Others believe that the government getting involved would just create hurdles and reduce profit. It's hard to tell which side is correct. Santa Monica may be the guinea pig that the rest of the country needs to test these risky waters.

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