Back to the days when we were still kids, we were told that sharing with others is nice. “Sharing Economy” rose after so many year of traditional economy. However, according to Sarah Cannon and Lawrence Summers, the system is so “new” that many of the regulators still has bias regarding whether the new system is just another puzzle to confuse them so the “firms can (are trying to) make a profit by skirting the regulations ‘traditional’ industries (i.e., taxis) face” . Rather than focusing my attention to solve these  laws and restrictions challenges, I am more concerned with the credibility of both renters and users. Companies such as Airbnb is only an internet agency that provides links and connection for its users. It does not guarantee that the property will match the description. I want to share my experience I had last summer. My friend decided to rent a bed from a sharing website(similar to Airbnb) for 6 months. Before she settle the deal with the renter, we decided to go check the condition of the bed(claimed to be hand made real wood and 95% new).  What we saw in the storage room was a half disassembled bed with two broken boards. In other cases, the properties could be damaged by the guest users without paying any compensations. Thus, I want to emphasis that creating stronger contract and rising higher credibility amongst users should be put in the “urgent and important” categories before addressing any regulation issues in the important but not much urgent area.

https://hbr.org/2014/10/how-uber-and-the-sharing-economy-can-win-over-regulators/