How Regulations Could Determine The Future Of Innovation And The Gig Economy
A key question for business owners is how to ensure continued innovation and growth at a time of increased regulation of digital platforms.
Digital platforms are among the most important drivers of the digital economy, so much so that we’re now seeing the digital economy being referred to as the “platform economy.” Services such as Amazon and Uber have integrated deeply into the everyday lives of the average consumer. Their conveniences are no longer questioned; their names have become verbs.
But the ubiquity of digital platforms has confronted us with how out of date our laws are in the context of the new economy. Be it data protection laws, competition law or labor law, policymakers and business owners have had to re-evaluate how regulations will fit into this previously relatively unregulated environment.
For example, Airbnb recently agreed to clarify its pricing system following EU concerns of consumer confusion over unexpected costs, such as cleaning charges and travelers’ rights to sue a host following damages or harm.
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