Microsoft is making some improvements to how sharing works in OneDrive, which enables users to share files with groups of people more easily. Simply put, you can create groups beforehand, which you can then find easily when sharing a file.
For this to work, you have two options on how to create groups. You can create a family group through your Microsoft account settings and invite family members to join, or create a group for friends in Outlook.com, as detailed here.
Once these groups are created, they'll be available as options in the Share menu in OneDrive for the web. After selecting either the "Anyone with a link can edit" or "Anyone with a link can view" options, searching for the name or email of any of the group members will surface the whole group, so you can quickly share files with everyone.
The feature is available now in OneDrive for the web, but it's also coming to the OneDrive sync clients and directly inside Word, PowerPoint, and Excel by mid-2021. Family and group is available for both free and paid OneDrive users.
