Singapore rattles sharing economy with rule change

SINGAPORE (Feb 23): Singapore, a keen early adopter of the sharing economy, has fired a warning shot across the bow of Airbnb and Uber with tighter rules that could shake up their business models and growth ambitions in Asia.

The rules, some say, are a sign that even governments sympathetic to companies that allow citizens to rent out their expertise or property have a hard time striking the right balance between encouraging disruptive technologies and keeping them in line.

"I know a lot of people will give back their keys, that's for sure," said Lionel Ong, 33, an Uber driver, who wants to look for a less demanding part time job.

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