Presentation at the "Pathways to inclusive entrepreneurship and growth" seminar at the Scottish Government in Edinburgh, Jan 22, 2016

1. Pathways to inclusive entrepreneurship and growth
Edinburgh, Scotland
January 2016

2. http://www.slideshare.net/eteigland

3. Uber
• Launched June 2010
• 300 cities in 58 countries
• Limited physical assets
• USD 60 bln valuation
(Ericsson – USD 32 bln)
Exponential growth by “doing more with less”

4. A system that activates the untapped
value of all kinds of assets through models
and marketplaces that enable greater
efficiency and access.
- Botsman
The Sharing Economy
Harvard Business Review, 2014
The Sharing Economy: Embracing Change with Caution
http://www.slideshare.net/eteigland/sharing-economy-webb

5. The Sharing Economy is enabled through
peer-to-peer (P2P) transactions on
multi-sided platforms (MSPs)
http://sloanreview.mit.edu/article/strategic-decisions-for-multisided-platforms/

6. “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/
USD 26 bln today -> USD 335 in 2025

7. Increasing efforts to regulate the sharing economy

8. If Uber were to pay drivers as employees in USA.

9. Spawning a new form of capitalism -
Modern day sweatshops?
Digital Robber Barons?
“Monopoly” platform “Monopoly” platform
“Perfect
competition”
“Perfect
competition”

10. Jobs vs Gigs

11. LEARNING
p2p learning open courses & moocs
PRODUCTION
co-design / co-innovationdigital peer production distributed fabrication (makers)
FINANCE
p2p funding p2p payments p2p insurance compl. currencies
GOVERNANCE
SWARM
participatory organizations participatory government blockchain / DAO
CONSUMPTION
redistribution local food systemsproduct-service on-demand services
COLLABORATIVE ECONOMY FRAMEWORK V0.1

12. Banking is essential,
but banks are not.
Bill Gates

14. 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.
Loan-based Loan
Repayment of loan with
interest. Alternatively intangible
benefits if loan given interest-

15. Crowdfunding growth 2012-2015
USD 34 bln E

16. zopa

17. But in China alone in 2015…
http://www.crowdfundinsider.com/2016/01/79612-report-china-p2p-lending-topped-150-billion-in-2015/

21. Democratizing innovation
through access to capital?

22. Democratizing innovation
through access to capital?
 Women in USA
 <30% of business
owners
 <15% of angel investors
 <10% of venture
capitalists
Marom, Robb and Sade 2014
 Women on
Kickstarter
 35% of project leaders
 44% of investors
 Women invested in
women project leaders
(>40% of projects)
VS

23. Following regulations…
 EU/EEA
 No country can require a prospectus for round of
<100,000 EUR
 For round of >5 million EUR an EU prospectus is always
required
 In Sweden
 Limit is 2.5 million EUR without a prospectus
 Less than 150 ‘non-qualified’ investors without a
prospectus
 ALSO shares in non-publicly traded companies cannot be
advertised in Sweden

24. Increasing forces
for local community

25. Toborrow.se

26. Hoffice – a Swedish concept gone global
US: 40% of workforce
freelancers

27. A number of bottom-up collaboratives

28. Scheveningen Harbor – The Hague

29. Moving into hardware:
A 3D printer workshop on Lisette’s boat
RepRap community
E-commerce

30. Local networks of 3D printers

31. Developing circular economies
Local demands?
Local materials?
Reduced transport?

32. 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/

33. The challenge of ensuring trust
Leap of faith when
meeting strangers ->
Increased trust in
society?
Innovation is forward
looking while
regulations are
backward looking.
http://www.weforum.org/sessions/summary/rise-demand-economy

34. Challenges in the Sharing Economy
 Ensuring trust
− In the platform, other users, products and services,
financial transactions?
 Regulatory
− What is “employment”?
 Security, taxation
− What are new “rules” around “consumption”?
 Taxation, safety, big data and privacy, IP and ownership
 Economic implications
− New pricing mechanisms -> deflation?
− Lower demand for capital in “Zero Marginal Cost
Society”?
− Net effect on labor productivity?

35. Scenarios for 2020
http://www.slideshare.net/eteigland/sharing-economy-webb

36. Four scenarios for 2020
High 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

37. Robin Teigland
robin.teigland@hhs.se
www.slideshare.net/eteigland
@robin.teigland
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