Post on 29-Jul-2015
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THE SHARING ECONOMY---
EMBRACING CHANGE WITH CAUTION
Claire IngramRobin Teigland
Stockholm School of Economics
June 2015
Anna FelländerSwedbank
• Launched June 2010300 cities in 58 countries • Limited physical assets• USD 41 bln valuation• Expected USD 50 bln
valuation
UberGlobal platform for local community
Peer-to-peer exchange of tangible and intangible slack (or potentially slack)
resources, including information, in both global and local contexts.
The Sharing Economy
Harvard Business Review, 2014
Drivers of the Sharing Economy
Technology −Increasing penetration of Internet and smart
phones−Technological advancements in areas such IT
platforms and big data analytics −Falling entry barriers due to digitalization−Increased ease of financial transactions−Increased transparency
Declining consumption patterns
Financial crisis
Four forms of crowdfunding
Form Benefits for funders
Donation-based
Donation Intangible benefits.
Reward-based Donation or pre-purchase
Rewards in addition to intangible benefits.
Equity-based Investment
Return on investment if company does well. Rewards sometimes also offered and
intangible benefits may motivate too.
Debt-based LoanRepayment of loan with
interest. Alternatively intangible benefits if loan given interest-free.
Ingram & Teigland 2013
Mixed economic implications
New pricing mechanisms push inflation down
Lower demand for capital in “Zero Marginal Cost Society”?
Perfect competition on monopolistic platforms?
Labor productivity – net effect?
-Arun SundarajanProfessor, Stern School of Business
The Sharing Economy will expand the job market faster than the job
loss due to robotization - in the near term.
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/
Regulatory considerations
Employment
Production and commerce−Taxation−Safety−IoT and privacy−Intellectual property and ownership−Risk
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:
Four scenarios for 2020High Tech Adoption
Global Recession
Global Growth
Business as Usual• Limited SE platforms
• Neo-sharers• Steady growth in freelancing
• Crowdfunding
Low Tech Adoption
Four scenarios for 2020High Tech Adoption
Global Recession
Global Growth
Shadow Economy• TaskRunner society• Vast urbanization
• Monopoly SE platforms• Barter economy
Low Tech Adoption
“Sharing” is big business…
http://www.web-strategist.com/blog/2015/06/04/the-collaborative-sharing-economy-has-created-17-billion-dollar-companies-and-10-unicorns/
Four scenarios for 2020High Tech Adoption
Global Recession
Global Growth
Freelance Economy• Differentiated SE platforms• High tech skills “exported”• Expansive crowdfunding
• Neo-sharing• “De-urbanization”
Low Tech Adoption
Four scenarios for 2020High Tech Adoption
Global Recession
Global Growth
Internet of Space• Differentiated SE platforms
• Attraction of talent• Test market
• Focus on privacy and integrity• Transitioning industries
Low Tech Adoption
Four scenarios for 2020High Tech Adoption
Global Recession
Global Growth
Internet of Space• Differentiated SE platforms
• Attraction of talent• Test market
• Focus on privacy and integrity• Transitioning industries
Freelance Economy• Differentiated SE platforms• High tech skills “exported”• Expansive crowdfunding
• Neo-sharing• “De-urbanization”
Business as Usual• Limited SE platforms
• Neo-sharers• Steady growth in freelancing
• Crowdfunding
Shadow Economy• TaskRunner society• Vast urbanization
• Monopoly SE platforms• Barter economy
Low Tech Adoption
Policy Implications
Flexible regulation using “trial and error”
Facilitation of entrepreneurship Government’s involvement in Sharing
EconomyChallenges for general statisticsDynamic clusters Internet for all
Local Stockholm success story: Flippin’ Burgers
Money raised: SEK 36,502 / €4,000
Number of investors: 186
Date funded: September 2011
Sector: Food
Top 5 Best
American
Restaurants
in Europe
Jobs that did not exist 10 years ago
iOS/Android developerSocial media managerUI/UX designerBig data architectCloud services specialistDigital marketing specialistSustainability expertZumba instructorBeach body coach
http://talent.linkedin.com/blog/index.php/2014/01/top-10-job-titles-that-didnt-exist-5-years-ago-infographic