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Austin Dane Walker – the AirBnb mogul who’s the prime example of a rags to riches story

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Becoming an entrepreneur is a dream of many but not everyone truly wants to put in the work that goes into creating a successful business. It takes tireless amount of hard work and unflinching dedication to bring up a business from the scratch up while maintaining it. One such leader who is an example of great dedication is Austin Dane Walker.

Austin owns a series of AirBnb’s and has managed to turn it into a full fledged business that generates a decent stable revenue for him every month.

Austin entered the business of AirBnb while having to look over his past because his first set up was an indirect breach of his leasing agreement. Austin was determined to do it without stopping and now he is the proud owner of more than tens of apartments.

Austin believes that success should be measured from the progress a person or a business owner has made from where they first started off.

Talking about his life before he became a business owner, Austin shared that he was just out of prison and was living with his mother when he decided to bring about a change in life to start his first AirBnb. He knew he wanted to do something big and turn his life around and so he dedicated himself into this business and never turned back. Now, with a successful company constantly growing, Austin is aiming to live a life filled with fortunes.

He travels to various places and explores life while documenting his trips online, his social media is an example piece to say while keeping spectacular growth doing so. Check him out @austindanewalker

Rosario is from New York and has worked with leading companies like Microsoft as a copy-writer in the past. Now he spends his time writing for readers of BigtimeDaily.com

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Business

Winners and Losers in the Digital Economy

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Businesses around the world were forced to move to an online economy due to the COVID 19 pandemic. However, not all businesses will be able to make that shift and thrive. If you deep dive and take a look at the digital economy, you will discover winners as well as losers. Lets take a look at some of the winners and losers.

Winners of digital economy

  • Telecommunication companies

Online services are quite popular among people out there. Thats because, we use our internet connections and phones to get most of our work done. Due to the same reason, companies that offer internet and telephone services have a high demand. Telecommunication companies can expect to witness an increase in demand for the services in future. Hence, they are a clear winner of an online economy.

  • Software development companies 

People in todays world prefer to use online platforms to get most of their work done. For example, we take a look at the online stores when we want to buy something. It is a convenient method available to get a product delivered without having to go out. To cater this demand, businesses have started getting their online selling marketplaces developed. Numerous improvements are done to those online marketplaces to deliver a better experience to the customers. On the other hand, digital economy has forced employees and students to continue with their work from home.  This has also created a massive demand for the services offered by software development companies. Hence, software development companies are a clear winner of the online economy.

When you go through IB Economics Paper 1 Sample Answers, you will figure out how the businesses can thrive when they have an increased demand. All the businesses that belong to the above-mentioned industries have a high demand. Hence, they can get the maximum returns out of digital economy.

Losers of online economy

Now you have a clear understanding about the winners of online economy. While keeping that in mind, it is worthy to take a look at the losers of online economy as well. Here are some of the businesses that will probably take advantage out of digital economy to ensure their business success.

  • Businesses in the hospitality industry

Businesses that exist in the hospitality industry, such as hotels, theme parks and even airlines will fail to thrive in a digital economy. They operate businesses, which cannot be taken online with ease. Along with the development of a digital economy, most of the people prefer to stay at their homes and get work done. This is creating a negative impact to the businesses in hospitality industry. Thats because those industries need people to move.

For example, we can see how the large scale conferences, trade shows and exhibition are now taking place online in the form of online conferences and virtual trade shows. This has led the companies in hospitality industry towards major revenue drops. As you can learn from Econs Tuition, businesses that have a drop in demand will not be able to sustain in the future, unless they go for transformations. However, the transformations available for businesses in the hospitality industry are also limited, due to the nature of business operations that they run.

  • Child care services / adult care services

Child care services and adult care services are another loser in an online economy. We could see how these businesses receive lots of financial support during the recent past because of the impact created by COVID 19 pandemic. They are experiencing a significant drop in their revenues as of now. Some of the operators are even forced to close down their facilities.

In a digital economy, people are provided with the chance to get most of their work done while staying at home. For example, people dont need to go to office to get work done. Due to the same reason, they can work from home and take care of their kids and seniors. This leads all the businesses that offer adult care services and child care services to lost business opportunities.

Final words

As you can see, there are winners and losers in a digital economy. Losers should focus more on how to get the maximum out of new business opportunities created with the online economy. Then they will be able to innovate and ensure the survival of businesses in the long run.

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