Sharing Economy & Collaborative Consumption
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Slides from my lecture at KTH - Royal Institute of Technology in October 2014, http://dm2571-2014.blogspot.se/2014/09/lecture-12-wed-oct-1-10-12-teigland.html
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Sharing Economy & Collaborative Consumption
- 1. October 2014
- 2. Who am I? (LinkedIn Inmaps) Swedish Industry SSE Exec Ed Research Wharton Stanford McKinsey vonorange.com
- 3. Today’s discussion Part I Background Part II The Sharing Economy Part III Exercise Part IV Into the Future
- 4. Then… Thx to R. Wieselfors, Ericsson for photos
- 5. …Now Thx to R. Wieselfors, Ericsson for photos
- 8. People • “Net generation” • 24x7 “mobile” workforce • Knowledge via MOOCs • Sharing not consuming • Sustainability Technology • Broadband access • The Cloud • Mobile phones • Internet of Things • Big Data • 3D printing • Robotics/AI • VR/AR Open Source • Software • Hardware • Physibles Convergence of….. Finance • Microlending/microfinance • Crowdfunding/equity/P2P • Non-fiat cryptocurrencies • Mobile money/payments
- 10. History tends to repeat itself…. Innovation, financial crisis, industrial revolution, … Steam engine Internal combustion engine Microelectronics Late 18th C Late 19th C Late 20th C Schön 2008 Third industrial revolution?
- 11. Many are stuck in our old ways …
- 12. What’s around the corner? 24x7 Global Internet Collaboration + Open Source + 3D Printing $60,000 $150 Available for free download on http://mashable.com/2013/02/13/robohand/ Where is the firm?
- 13. No one knows everything, everyone knows something, all knowledge resides in nheutmwaonrkitsy.. Six degrees of separation - Milgram, 1967 Adapted from Lévy 1997
- 14. The wisdom of the crowd Closed Expensive Complex Accurate Open Inexpensive Simple Close enough Hinton 2007 Accurate Up-to-date
- 15. 105 emp 350+ Partners 43,900+ Community members 15,000+ Customers in 130 countries • Content management software, #1 in media industry • 250,000 sites in 170 countries • Customers: UN, FT, WSJ, Vogue, Hitachi, 3M, BMW • 105 employees in 9 countries (US, Europe & Asia) Teigland et al., 2014 forthcoming
- 16. eZ’s platform for building identity and competence throughout its ecosystem eZ Software development team
- 17. Threadless A platform for global community collaboration Est. $30 mln sales 30% profit margin in commodity business 20 employees but a 24x7 global “workforce” of 2.4 million No internal R&D or sales & marketing
- 18. From clothing to home products….
- 19. Innovation in automotive design/production “Local Motors is the place for people to create influential vehicles together.” http://www.youtube.com/watch?v=azCRuwtE_n0
- 22. The Collaborative Economy A system that activates the untapped value of all kinds of assets through models and marketplaces that enable greater efficiency and access. Harvard Business Review, 2014 - Botsman
- 23. Across all kinds of assets Asset Example Organization Intangible Open source software Open source hardware Linux, eZ Systems Thingiverse Financial Crowdfunding P2P lending Cryptocurrencies FundedByMe, Kickstarter Toborrow Bitcoin Human Knowledge/skills Labor Innocentive, Local Motors TaskRabbit, MyWays Tangible Transportation Property/Housing Food Uber AirBnB EatWith Other Reputation ? ?
- 24. What is Crowdfunding? Accumulation of small investments in individual projects by large number of individuals (the “crowd”) via or with help of Internet and social networks (De Buysere et al., 2012) Picture: FundedByMe
- 25. Market size Global crowdfunding almost doubled 2012 to 2013 to USD 5.1 bln March 2014 Kickstarter passes USD 1 bln in total pledges FundedByMe raised USD 10.5 mln to date By 2025, global crowdfunding could reach USD 90 to 96 bln (1.8 times today’s global VC industry) Growth potential greatest in emerging markets? USD 50 bln in China by 2025?
- 26. Local Stockholm success story: Flippin’ Burgers Money raised: SEK 36,502 / €4,000 Number of investors: 186 Date funded: September 2011 Sector: Food
- 27. Enabling local, small-scale solutions http://travel.cnn.com/best-americana-restaurants-europe-023346
- 28. Nesta
- 29. P2P lending in the US and UK… • USD 3.8 bln in personal loans since 2007 • USD 750 mln growth each quarter • Now offering business loans • Strategic alliance with Union Bank
- 30. Toborrow.se
- 31. Today’s discussion Part I Background Part II The Sharing Economy Part III Exercise Part IV Into the Future
- 32. Uber Global platform for local community collaboration
- 33. Global platform for local community collaboration Launched June 2010 USD 17 bln valuation 43 countries globally Uber Limited physical assets UberPop, Uber Rush, ??
- 36. Exercise Develop an argument for your position: For Uber Against Uber 1. Uber CEO 1. Taxi Stockholm CEO 2. Uber Taxi driver 2. Taxi Stockholm driver 3. Uber passenger 3. Average taxi passenger 4. Automobile Dealer Association Chairman 4. Taxi Industry Association Chairman 5. Politician 5. Politician
- 37. Today’s discussion Part I Background Part II The Sharing Economy Part III Exercise Part IV Into the Future
- 38. Exploitation Improving existing value creation activities Exploration Developing new value creation activities Adapted from March 1991
- 39. DIY 3D printing becoming more commonplace… http://openfabpdx.com/fffiddle/
- 40. What’s around the corner? 24x7 Global Internet Collaboration + Open Source + 3D Printing $60,000 $150 Available for free download on http://mashable.com/2013/02/13/robohand/ Where is the firm?
- 41. OpenSimulator: A value-creation ecosystem Academic Entrepreneur Hobbyist Large Firm Non-profit Local Public Federal Public Research Inst SME Employee Periphery Teigland, Di Gangi, & Yetis 2012 USD 5.5mln in development costs
- 42. 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/
- 44. The future is already here, it’s just not very evenly distributed. - William Gibson
- 45. If you love knowledge, set it free… Robin Teigland robin.teigland@hhs.se www.knowledgenetworking.org www.slideshare.net/eteigland www.nordicworlds.net @RobinTeigland If you like this presentation and would like to contribute to our research, we accept bitcoins: 14hs4JbnQLXE87GGzu84uXGaspmxmnLpwC. Thank you!!!!!