Circular Economy 2030 Competition Finalists

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Entrepreneurs working in the circular economy see both the financial and environmental advantages of rethinking e-waste. Atlanta entrepreneur Stephen Wakeling has watched the space transform over the last decade while building Phobio, a SaaS platform designed to facilitate electronic device trade-ins. “The useful life of a phone is being elongated, and so is the path they travel around the world.” The circular economy, Wakeling says, might be more accurately described as a spiral now, as devices have several owners before ultimately getting recycled. And with key partnerships with Apple and Costco, the bootstrapped startup has big plans to reimagine the life cycle of more consumer products.

China’s State Administration of Market Regulation (SAMR) said on Monday it would further regulate the sharing economy sector. SAMR said on its website that price hikes in the system built around the sharing of resources were effectively contained due to its oversight. The regulator also said it is investigating food delivery giant Meituan’s acquisition of bike sharing company Mobike in 2018. Separately, Meituan on Monday warned in a filing that it may be required to pay “a significant amount” of antitrust fines and posted a third consecutive quarterly loss as it continued to invest in expanding its various businesses.