The Airbnb of cars has arrived: "The ease of the transaction, all of which occurs using a smartphone, may explain why airports have become the front lines in an emerging war between companies such as Enterprise and Hertz and Turo, a relatively unknown Silicon Valley upstart with about 180 employees. Turo allows its 200,000 members who are car owners to post vehicles online and rent them out for as little as $10 a day. Turo officials say their company is a technology platform that allows car owners to earn extra cash, not a rental car company. Because Turo doesn’t own any vehicles, they say, the company shouldn’t be subject to the same regulations as traditional rental companies. Those rental companies — represented by the American Car Rental Association — say that car-sharing companies such as Turo are clearly car-rental companies. The only difference between Turo and Enterprise, officials say, is that Enterprise complies with state and federal laws governing rental car companies, while Turo has so far avoided them."
The Rice Business Plan Competition -- the world's largest startup competition for students -- kicks off this week in Houston. With teams about to compete for more than $1.4 million in prizes, the video below is a bone-chilling look back at last year's winner of the Rice elevator pitch contest (my favorite part of the event). You can find all 42 of the 2017 Rice elevator pitches here. We'll be back next week with this year's winners.
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