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The Sharing EconomyMark Suster@msusterLeWeb London,June 2013
What new can a VC really tell you?1After 2 days of the sharing economy
2I thought I’d give some context to Why sharing / collaborativeconsumption? Why now? What next?
Prices3NetworkDrivers of our Future WorldEconomics Un / under-employment Debt Globalization ScarceResources Transpare...
1. Prices4
5The commontheme of thebiggest Internetsuccesses hasbeen “deflation”
6Biggest Internet players “disrupted”incumbents on price
7Disruptive Technologies are2LessFunctionality /Performance3LowerMarginsSee “Innovator’s Dilemma - Clayton Christensen1Sig...
8Disruptive companies offer LESSfunctionality & compete with“non consumption”See: http://www.bothsidesofthetable.com/2011/...
It’s why the TV industry still can’tget its head around9 1 billion monthly uniques 4 billion hours > 150 videos watched...
10 3.4 billionvideoviews /month > 25,000videocreators 250 millionsubscribers 80%audience13-34 40%mobile
2. Network11
Of course we now know that 1/3rd of world isnow online12Sources: U.S. Bureau of the Census, World Bank444111,0192,0192,291...
13And per Mary Meeker’s slides we know theaudience (& opportunity) is now global
14In just 4years 71%of theworld’sliteratepopulationwill have asmartphoneSource: Benedict Evans (http://www.slideshare.net/...
15Incumbents simply find it too hardgive up juicy marginsNetworkPrices /MarginStartups should focuson non-consumption &the...
163. Economics
17Student debt in US along = $1 trillion. $100million new / year. 2x rate of 10 years ago.
18Source: the Atlantic: http://www.theatlantic.com/business/archive/2012/10/europes-most-tragic-graph-greek-youth-unemploy...
19The sharing economy isn’t new. It’sjust more urgent Un / under-employment Debt Globalization Scarce Resources Trans...
20TradeGuildsWageProtection /LimitedSupplyTop down organization struggling to keepup with innovation or needs of the peopl...
When governments can no longerproperly look after their people,people will look for themselvesCapitalism.21
In the past forced migrations werethe only answer *22Increasingly IT-enabled peoplecan tap into globaldemand networks * We...
23ThomasFriedmansaid it bestsome ofworld’s mosttalentedpeople live ineconomiesthat can’t paythem a“globalmarket price”
The sharing economy will have new“market-makers”Will they all be benevolent in thefuture?Market forces, transparency & new...
25Radio. Television. Telephony. Twitter. It’sthe natural extension to a global,transparent world.Open = empowered. But als...
Of course all of this open data can be minedin real time. For business. And government.For marketplaces this can help with...
271. THE ECONOMICSOF “GLOBAL”
Comparatively richer countries want to tapinto enormous pool of intelligent resourcesin countries with lower wages28
Some of the world’s most talented filmmaker’s can’t just relocate to Los Angeles29
30Artistsstruggling toearn a globalwage suddenlyfind demand athigher prices 30 millionregistered users 65 million monthu...
312. EMPOWERING THEUNDER-EMPLOYED
With large underemployment people canearn extra $$ staying at home, whilesatisfying demand to avoid kennels.32
And this is true of many of the peer-to-peermarketplaces.33
343. MOVE FROMHIERARCHIC TOFLAT STRUCTURES
35Lending Club now so widelyaccepted even used by hedgefunds to invest directly inconsumer loans
36And of coursestartups can nowmore easily tapinto pools ofangel investorsdirectly
373. REMOVINGPHYSICALBOUNDARIES
By removing physical boundaries youcreate win-win opportunities for bothinstructors & students38Example Industries: Educa...
394. EFFICIENCY GAINSIN EXISTINGMARKETS
Many of these markets exist, the Internet isjust making them much more efficient40
So What’s Next?41
42HELPINGBUSINESSES TAPINTO PEERNETWORKS
Entrepreneurs often start with consumerideas. Helping enterprise tap into peernetworks may prove even larger43
44Recap – in a world of economicchallenges & large networks … the“sharing economy” will thrive.Will you find your place in...
The Sharing EconomyThank you!Mark Suster - @msusterLeWeb, June 2013
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Final le web london (june 2013)

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Transcript of "Final le web london (june 2013)"

  1. 1. The Sharing EconomyMark Suster@msusterLeWeb London,June 2013
  2. 2. What new can a VC really tell you?1After 2 days of the sharing economy
  3. 3. 2I thought I’d give some context to Why sharing / collaborativeconsumption? Why now? What next?
  4. 4. Prices3NetworkDrivers of our Future WorldEconomics Un / under-employment Debt Globalization ScarceResources Transparency DemographicShifts
  5. 5. 1. Prices4
  6. 6. 5The commontheme of thebiggest Internetsuccesses hasbeen “deflation”
  7. 7. 6Biggest Internet players “disrupted”incumbents on price
  8. 8. 7Disruptive Technologies are2LessFunctionality /Performance3LowerMarginsSee “Innovator’s Dilemma - Clayton Christensen1SignificantlyLower Prices
  9. 9. 8Disruptive companies offer LESSfunctionality & compete with“non consumption”See: http://www.bothsidesofthetable.com/2011/12/22/the-amazing-power-of-deflationary-economics-for-startups/
  10. 10. It’s why the TV industry still can’tget its head around9 1 billion monthly uniques 4 billion hours > 150 videos watched / year for every human
  11. 11. 10 3.4 billionvideoviews /month > 25,000videocreators 250 millionsubscribers 80%audience13-34 40%mobile
  12. 12. 2. Network11
  13. 13. Of course we now know that 1/3rd of world isnow online12Sources: U.S. Bureau of the Census, World Bank444111,0192,0192,2911995 2000 2005 2010 2012World Internet users (M)
  14. 14. 13And per Mary Meeker’s slides we know theaudience (& opportunity) is now global
  15. 15. 14In just 4years 71%of theworld’sliteratepopulationwill have asmartphoneSource: Benedict Evans (http://www.slideshare.net/bge20/2013-05-bea)
  16. 16. 15Incumbents simply find it too hardgive up juicy marginsNetworkPrices /MarginStartups should focuson non-consumption &they will find it hard tocompete
  17. 17. 163. Economics
  18. 18. 17Student debt in US along = $1 trillion. $100million new / year. 2x rate of 10 years ago.
  19. 19. 18Source: the Atlantic: http://www.theatlantic.com/business/archive/2012/10/europes-most-tragic-graph-greek-youth-unemployment-hits-55/263118/We are risking an entire generation whodon’t get on the career ladder
  20. 20. 19The sharing economy isn’t new. It’sjust more urgent Un / under-employment Debt Globalization Scarce Resources Transparency DemographicsAnd it’s not going away
  21. 21. 20TradeGuildsWageProtection /LimitedSupplyTop down organization struggling to keepup with innovation or needs of the peopleUniversitiesHigh-PaidJobsGovernmentTaxation, Currency
  22. 22. When governments can no longerproperly look after their people,people will look for themselvesCapitalism.21
  23. 23. In the past forced migrations werethe only answer *22Increasingly IT-enabled peoplecan tap into globaldemand networks * We are of course seeing a world of digital have’s andhave-not’s. Mobile phones bridge this gap. Who willdevelop services for the worlds poorest?
  24. 24. 23ThomasFriedmansaid it bestsome ofworld’s mosttalentedpeople live ineconomiesthat can’t paythem a“globalmarket price”
  25. 25. The sharing economy will have new“market-makers”Will they all be benevolent in thefuture?Market forces, transparency & newdisruptions must keep them in check24
  26. 26. 25Radio. Television. Telephony. Twitter. It’sthe natural extension to a global,transparent world.Open = empowered. But also aware. Anddisenfranchised.
  27. 27. Of course all of this open data can be minedin real time. For business. And government.For marketplaces this can help with trust,authority, safety, marketing, & planning.Note: I’m a proud investor in DataSift
  28. 28. 271. THE ECONOMICSOF “GLOBAL”
  29. 29. Comparatively richer countries want to tapinto enormous pool of intelligent resourcesin countries with lower wages28
  30. 30. Some of the world’s most talented filmmaker’s can’t just relocate to Los Angeles29
  31. 31. 30Artistsstruggling toearn a globalwage suddenlyfind demand athigher prices 30 millionregistered users 65 million monthuniques 2.5 billionmonthly pageviews
  32. 32. 312. EMPOWERING THEUNDER-EMPLOYED
  33. 33. With large underemployment people canearn extra $$ staying at home, whilesatisfying demand to avoid kennels.32
  34. 34. And this is true of many of the peer-to-peermarketplaces.33
  35. 35. 343. MOVE FROMHIERARCHIC TOFLAT STRUCTURES
  36. 36. 35Lending Club now so widelyaccepted even used by hedgefunds to invest directly inconsumer loans
  37. 37. 36And of coursestartups can nowmore easily tapinto pools ofangel investorsdirectly
  38. 38. 373. REMOVINGPHYSICALBOUNDARIES
  39. 39. By removing physical boundaries youcreate win-win opportunities for bothinstructors & students38Example Industries: Education Music Lessons Personal Trainers Psychologists
  40. 40. 394. EFFICIENCY GAINSIN EXISTINGMARKETS
  41. 41. Many of these markets exist, the Internet isjust making them much more efficient40
  42. 42. So What’s Next?41
  43. 43. 42HELPINGBUSINESSES TAPINTO PEERNETWORKS
  44. 44. Entrepreneurs often start with consumerideas. Helping enterprise tap into peernetworks may prove even larger43
  45. 45. 44Recap – in a world of economicchallenges & large networks … the“sharing economy” will thrive.Will you find your place in it?
  46. 46. The Sharing EconomyThank you!Mark Suster - @msusterLeWeb, June 2013
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