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Collaborative Consumption& the Sharing Economy
Dr. Robin Teigland Karinda Rhode in SL
Stockholm School of Economicswww.knowledgenetworking.orgwww.slideshare.net/eteigland
@RobinTeigland
October 2014
Who am I? (LinkedIn Inmaps)
SSE
Exec Ed
Swedish IndustryResearch
Wharton
Stanford
McKinsey
vonorange.com
Today’s discussion
Part I Background
Part II The Sharing Economy
Part III Exercise
Part IV Into the Future
Then…
Thx to R. Wieselfors, Ericsson for photos
…Now
Thx to R. Wieselfors, Ericsson for photos
http://www.torbenrick.eu/blog/strategy/the-sharing-economy-is-changing-consumer-consumption/
Collaborative consumption
Botsman, 2010
Valuecreation
People• “Net generation”• 24x7 “mobile”
workforce• Knowledge via MOOCs• Sharing not consuming• Sustainability
Technology • Broadband access• The Cloud• Mobile phones• Internet of Things • Big Data• 3D printing• Robotics/AI• VR/AR
Open Source
• Software • Hardware• Physibles
Convergence of…..
Finance•
Microlending/microfinance
• Crowdfunding/equity/P2P
• Non-fiat cryptocurrencies
• Mobile money/payments
History tends to repeat itself….Innovation, financial crisis, industrial revolution,
…
Steam engine
Internal combustion
engine
Microelectronics
Late 18th C Late 19th C Late 20th C
Schön 2008
Third industrial revolution?
Many are stuck in our old ways …
What’s around the corner?24x7 Global Internet Collaboration + Open Source + 3D
Printing
http://mashable.com/2013/02/13/robohand/
$60,000
$150
Available for free download on
Where is the
firm?
No one knows everything, everyone knows something,
all knowledge resides in humanity.
networks.
Adapted from Lévy 1997
Six degrees of separation
- Milgram, 1967
The wisdom of the crowd
ClosedExpensiveComplexAccurate
OpenInexpensive
SimpleClose enough
Hinton 2007
AccurateUp-to-date
105 emp350+
Partners
43,900+Communitymembers
15,000+Customers in 130 countries
eZ Ecosystem
• Content management software, #1 in media industry
• 250,000 sites in 170 countries• Customers: UN, FT, WSJ, Vogue, Hitachi, 3M, BMW
• 105 employees in 9 countries (US, Europe & Asia)
Teigland et al., 2014 forthcoming
eZ’s platform for building identity and competence throughout its ecosystem
eZ Software development team
Est. $30 mln sales
30% profit margin in commodity business
20 employees but a 24x7 global “workforce”
of 2.4 million
No internal R&D or sales & marketing
ThreadlessA platform for global community
collaboration
From clothing to home products….
Innovation in automotive design/production
“Local Motors is the place for people to create influential vehicles together.”
http://www.youtube.com/watch?v=azCRuwtE_n0
A system that activates the untapped value of all kinds of assets through
models and marketplaces that enable greater
efficiency and access.
The Collaborative Economy
Harvard Business Review, 2014
- Botsman
Across all kinds of assets
Asset Example Organization
Intangible Open source softwareOpen source hardware
Linux, eZ SystemsThingiverse
Financial CrowdfundingP2P lendingCryptocurrencies
FundedByMe, KickstarterToborrowBitcoin
Human Knowledge/skillsLabor
Innocentive, Local MotorsTaskRabbit, MyWays
Tangible TransportationProperty/HousingFood
UberAirBnBEatWith
Other Reputation?
?
What is Crowdfunding?
Accumulation of small investments in individual projects by large number of
individuals (the “crowd”) via or with help of Internet and social networks (De Buysere
et al., 2012)
Picture: FundedByMe
Market size
Global crowdfunding almost doubled 2012 to 2013 to USD 5.1 bln
March 2014 Kickstarter passes USD 1 bln in total pledges
FundedByMe raised USD 10.5 mln to date By 2025, global crowdfunding could reach
USD 90 to 96 bln (1.8 times today’s global VC industry)
Growth potential greatest in emerging markets? USD 50 bln in China by 2025?
Local Stockholm success story: Flippin’ Burgers
Money raised: SEK 36,502 / €4,000
Number of investors: 186
Date funded: September 2011
Sector: Food
Enabling local, small-scale solutions
Top 5 Best American
Restaurants in Europe
http://travel.cnn.com/best-americana-restaurants-europe-023346
Nesta
P2P lending in the US and UK…
• USD 3.8 bln in personal loans since 2007
• USD 750 mln growth each quarter
• Now offering business loans
• Strategic alliance with Union Bank
Toborrow.se
Today’s discussion
Part I Background
Part II The Sharing Economy
Part III Exercise
Part IV Into the Future
UberGlobal platform for local community
collaboration
Launched June 2010
USD 17 bln valuation
43 countries globally
Limited physical assets
UberPop, Uber Rush, ??
UberGlobal platform for local community
collaboration
http://www.inc.com/adam-vaccaro/uber-isnt-a-car-service.html
Exercise
For Uber Against Uber1. Uber CEO 1. Taxi Stockholm CEO2. Uber Taxi driver 2. Taxi Stockholm driver3. Uber passenger 3. Average taxi
passenger4. Automobile Dealer Association Chairman
4. Taxi Industry Association Chairman
5. Politician 5. Politician
Develop an argument for your position:
Today’s discussion
Part I Background
Part II The Sharing Economy
Part III Exercise
Part IV Into the Future
ExploitationImproving
existing value creation activities
ExplorationDeveloping new value creation activities
Adapted from March 1991
DIY 3D printing becoming more commonplace…
http://openfabpdx.com/fffiddle/
What’s around the corner?24x7 Global Internet Collaboration + Open Source + 3D
Printing
http://mashable.com/2013/02/13/robohand/
$60,000
$150
Available for free download on
Where is the
firm?
OpenSimulator: A value-creation ecosystem
AcademicEntrepreneurHobbyistLarge FirmNon-profitLocal PublicFederal PublicResearch InstSME EmployeePeriphery
Teigland, Di Gangi, & Yetis 2012
USD 5.5mln in development
costs
Thomas Jefferson (1816)“Laws and institutions must go hand in hand with the progress of the human
mind.”
The problem is that the human mind itself can’t keep pace with the advances
that computers are enabling.
http://wadhwa.com/2014/04/15/mit-technology-review-laws-and-ethics-cant-keep-pace-with-technology/
http://www.futuristspeaker.com/2014/09/should-robots-have-their-own-bank-accounts/
The future is already here, it’s just not very
evenly distributed.
- William Gibson
Robin Teiglandrobin.teigland@hhs.se
www.knowledgenetworking.org
www.slideshare.net/eteigland
www.nordicworlds.net @RobinTeigland
If you love knowledge, set it
free…
If you like this presentation and would like to contribute to our research, we accept bitcoins: 14hs4JbnQLXE87GGzu84uXGaspmxmnLpwC.Thank you!!!!!