Trust – The Fuel That Powers The Sharing Economy

Raghu Ramanujam

Founder @ CEO

@raghoo1

A Simple Idea

Sharing EconomyShared Economy: Collaborative Consumption: Peer to Peer Economy

Will Ownership turn out to be largely a hack people resorted to before they have the infrastructure to manage sharing properly?

- Paul Graham

What is mine is yours, for a fee

68%People Willing ToShare Own Assets

74%Cars Ride With Just ONE Person

75%People WillingTo Share Meals

66%People Willing To

Share From Others

Sharing Economy - The Drivers

Technology Innovation

Value Shift

EconomicRealities

EnvironmentalPressures

200,000 Monthly Rentals

on AirBnB

$ 2 MillionRides on the

Last Day of 2014

35 MillionPrivate Cars in India

Available For Ridesharing

2 MillionActive Monthly

User On BlaBlaCar

Sharing Is Everywhere

In Ownership Economy, Service Levels Are More Established

A Masala DosaAt The MTR

Service LevelOn OLA Cabs

Stay ExperienceAt The Hilton

In Sharing Economy everyone is a Service Provider

The Challenge

Source: TEDGlobal 2012, Rachel Botsman

The Ownership Economy has solved it well

Your Credit Score

The Sharing Economy needs a Credit Score equivalent

But Trust In The Sharing Economy Has Two Parts

Who You Are(Transferrable)

How Good You Are At Something

(Contextual)

A Unified Reputation Card

Safe Driver; Interesting Conversations, 80s Rock MusicPoolCircle Rating

Nice House, Needs More VentilationAirbnb Rating

Recipes Don’t Work For Me!Yummly Rating

• Stays at Brigade Gateway• Works at PoolCircle• 654 Facebook Friends• 1123 LinkedIn Connections• 17453 Twitter Followers

345 Transactions Across 5 Platforms

Raghu RamanujamMale, 44 – Bengaluru, India

Remember The Simple Idea?

Not So Simple

Timin

gs

Proximity

Sa

fety

Weekday/Weekend

Peak hour

LocationComfort

Network

Trust

Solve Safety, Crack Ridesharing

87% respondents cited Lack of trust as the biggest impediment in spite of strong intent to carpool

The Circle in PoolCircle

Peer RatingWhat Others Think About Your Service

Who You Are(Tranferable)

How Good You Are At Something

(Contextual)

How Trust Impacted Behaviour

0.00

0.20

0.40

0.60

0.80

1.00

1.20

1.40

1.60

1.80

2.00

Participation Interaction Initiated Interaction Received

Unconnected Corporate Affiliation Social Connections

A Unified, Transferable Reputation Score

Thank You