From an article headlined A New Parking App That's Virtually Guaranteed to Stir Up Controversy with the kicker "MonkeyParking lets users bid for street parking spaces occupied by other drivers" explains:
In San Francisco last month, MonkeyParking co-founder and CEO Paolo Dobrowolny rented a car to personally test out the service. He put out a request for parking in the SOMA district and offered $5. His bid was promptly accepted by someone who'd been getting ready to leave work. From this sample scenario, you can imagine, say, people listing their parked cars as they prepare to leave a restaurant or the gym.
To those who raise all the various expected challenges and objections:
Dobrowolny is unfazed. He argues MonkeyParking doesn't broker parking spaces themselves, but rather the valuable information that somebody is just about to leave a spot. In other words, the meters will still be fed, but the app gives parked drivers an incentive to sync up with drivers desperate for a spot right now.
This sort of parking space optimization, Dobrowolny argues, can reduce the time people spend circling the blocks, and as result, cuts down on traffic, fuel consumption, and pollution as well.
The way people are I can see people bidding higher for a space then they would have paid to park in a garage.