write:These technologies are being used to build the infra-structure needed for on-demand services. This infrastructureÑalso referred to as a technology platform or technology stackÑsu

convenience
and simplicity are key factors in consumer behavior and purchasing decisions. Michael Boland
author of WhatÕs Driving the Local On-Demand Econ-omy
explains that as consumers
ÒWeÕre being conditioned to expect everything on-demand as the mobile device increasingly becomes the remote control for the physical worldÓ (Boland
 2015). For example
the majority of consumers who tap an Uber app to get a ride would not consider dialing an 800 number for a taxi. With all transactions performed by apps and automated processes
the entire process from hailing to paying for a ride is slick
quick
and easy
without cash or credit cards.Tech Platforms Enabled On-Demand Services to Take OffDecades of technological innovation have given us smartphone apps
mobile payment platforms
GPS and map technology
and social authentication. These technologies are being used to build the infra-structure needed for on-demand services. This infrastructureÑalso referred to as a technology platform or technology stackÑsupports the exchange and coordination of staggering amounts of data. The term technology stack reflects the fact that the platform is made up of multiple layers (stacks) of hardware
software
network connectivity
and data analytics capabilities.In many consumer markets today
companies that do not have iPhone or Android apps or technology platforms that support the exchange of goods and servicesÑno matter how useful their websiteÑmay find themselves losing their competitive edge.On-Demand Economy Requires a New Business ModelUber and Airbnb are popular examples of companies that developed on-demand business models to transform slow-to-innovate indus-tries. A simple definition of business model is the way a company generates revenue and makes a profit. On-demand business mod-els provide real-time fulfillment of goods and services
which have attracted millions of users worldwide. This model fits best when speed and convenience matter the most. The ground transporta-tion
grocery
and restaurant industries are examples of hyper-growth categories in the on-demand world. Forward-thinking companies are reshaping these industries.Uber Business ModelUber disrupted the taxi industry with a workforce that is essentially any person with a smartphone and a car. Location-aware smartphone apps bring drivers and passengers together
while in-app accounts make the cashless payment process effortless. By simply opening the Uber app and pressing the middle button for several seconds (a long press)
customers can order a ride to their current location
selecting the kind of car they want. Payment is automatically charged to the credit card on file with receipts via email.The Uber concept developed in response to taxi scarcities. It started on a snowy Paris night in 2008 when the two founders could not get a cab. They wanted a dead-simple app that could get them a car with a tap. On June 1
2015
the entrepreneurs celebrated Uber fifth anniversary and announced that the company had grown into a transportation network covering 311 cities in 58 countries in North and South Americas
Europe
Africa
Asia Pacific
and the Middle East.Uber has invested in new and developing technologies and part-nerships. The company partnered with Carnegie Mellon University to build robotic cars and new mapping software. In March 2015

Uber pur-chased deCarta
a 40-person mapping start-up to reduce its depend-ence on Google maps.Airbnb Business ModelAnother disruption to a traditional industry occurred when Airbnb blindsided the hotel industry. Airbnb allows anyone with a spare apartment or roomÑeven if only for a dayÑto run their own bed and breakfast by giving them a technology platform to market themselves to a global market. By 2016
the Airbnb site had over 1.5 million list-ings in 190 countries and 34
000 cities. Over 40 million guests have used Airbnb worldwide. For comparison
Hilton
InterContinental
and Marriott
the largest hotel chains in the world
have less than 1 million rooms each.Uber and Airbnb do not own inventory. Instead
they scale up (expand) by improving their ability to acquire and match customers and service providers.