ELI5: Explain Like I'm 5

Platform economy

The platform economy is when companies use the internet to bring together buyers and sellers, instead of having a physical shop or store. It's like an online marketplace, like Amazon or eBay. Think of it like a virtual store, where people can buy and sell things without ever having to leave their home. Platform economy companies often use technology to match people with the right products, services, or jobs. For example, Uber uses technology to match people with drivers; Airbnb matches people with places to stay; and freelance marketplaces like Upwork help people find short-term work. The platform economy helps buyers and sellers find each other quickly and more easily than ever before.