Final le web   london (june 2013)
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  • 1. The Sharing EconomyMark Suster@msusterLeWeb London,June 2013
  • 2. What new can a VC really tell you?1After 2 days of the sharing economy
  • 3. 2I thought I’d give some context to Why sharing / collaborativeconsumption? Why now? What next?
  • 4. Prices3NetworkDrivers of our Future WorldEconomics Un / under-employment Debt Globalization ScarceResources Transparency DemographicShifts
  • 5. 1. Prices4
  • 6. 5The commontheme of thebiggest Internetsuccesses hasbeen “deflation”
  • 7. 6Biggest Internet players “disrupted”incumbents on price
  • 8. 7Disruptive Technologies are2LessFunctionality /Performance3LowerMarginsSee “Innovator’s Dilemma - Clayton Christensen1SignificantlyLower Prices
  • 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. 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. 10 3.4 billionvideoviews /month > 25,000videocreators 250 millionsubscribers 80%audience13-34 40%mobile
  • 12. 2. Network11
  • 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. 13And per Mary Meeker’s slides we know theaudience (& opportunity) is now global
  • 15. 14In just 4years 71%of theworld’sliteratepopulationwill have asmartphoneSource: Benedict Evans (http://www.slideshare.net/bge20/2013-05-bea)
  • 16. 15Incumbents simply find it too hardgive up juicy marginsNetworkPrices /MarginStartups should focuson non-consumption &they will find it hard tocompete
  • 17. 163. Economics
  • 18. 17Student debt in US along = $1 trillion. $100million new / year. 2x rate of 10 years ago.
  • 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. 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. 20TradeGuildsWageProtection /LimitedSupplyTop down organization struggling to keepup with innovation or needs of the peopleUniversitiesHigh-PaidJobsGovernmentTaxation, Currency
  • 22. When governments can no longerproperly look after their people,people will look for themselvesCapitalism.21
  • 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. 23ThomasFriedmansaid it bestsome ofworld’s mosttalentedpeople live ineconomiesthat can’t paythem a“globalmarket price”
  • 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. 25Radio. Television. Telephony. Twitter. It’sthe natural extension to a global,transparent world.Open = empowered. But also aware. Anddisenfranchised.
  • 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. 271. THE ECONOMICSOF “GLOBAL”
  • 29. Comparatively richer countries want to tapinto enormous pool of intelligent resourcesin countries with lower wages28
  • 30. Some of the world’s most talented filmmaker’s can’t just relocate to Los Angeles29
  • 31. 30Artistsstruggling toearn a globalwage suddenlyfind demand athigher prices 30 millionregistered users 65 million monthuniques 2.5 billionmonthly pageviews
  • 32. 312. EMPOWERING THEUNDER-EMPLOYED
  • 33. With large underemployment people canearn extra $$ staying at home, whilesatisfying demand to avoid kennels.32
  • 34. And this is true of many of the peer-to-peermarketplaces.33
  • 35. 343. MOVE FROMHIERARCHIC TOFLAT STRUCTURES
  • 36. 35Lending Club now so widelyaccepted even used by hedgefunds to invest directly inconsumer loans
  • 37. 36And of coursestartups can nowmore easily tapinto pools ofangel investorsdirectly
  • 38. 373. REMOVINGPHYSICALBOUNDARIES
  • 39. By removing physical boundaries youcreate win-win opportunities for bothinstructors & students38Example Industries: Education Music Lessons Personal Trainers Psychologists
  • 40. 394. EFFICIENCY GAINSIN EXISTINGMARKETS
  • 41. Many of these markets exist, the Internet isjust making them much more efficient40
  • 42. So What’s Next?41
  • 43. 42HELPINGBUSINESSES TAPINTO PEERNETWORKS
  • 44. Entrepreneurs often start with consumerideas. Helping enterprise tap into peernetworks may prove even larger43
  • 45. 44Recap – in a world of economicchallenges & large networks … the“sharing economy” will thrive.Will you find your place in it?
  • 46. The Sharing EconomyThank you!Mark Suster - @msusterLeWeb, June 2013