The sharing economy

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The sharing economy - Collaborative consumption

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THE SHARING ECONOMY

From communication to social media and the new shared economy:

From communication to social media and the new shared economy The internet has evolved from communication to social media and the new shared economy. Sharing is an old idea, but its potential to generate economic opportunities is only just beginning – it’s a new type of enterprise that strives to make it easy for people to share resources. These new services rely on the web, impersonal relationships, and they are based on ratings and reciprocal reviews from unknown people to build trust among their users. This type of business couldn’t work out before social media platforms. 11 August 2013 www.torbenrick.eu 2

The phases of the internet evolution:

The phases of the internet evolution 11 August 2013 www.torbenrick.eu 3

The new shared economy - The consumer powered revolution:

The new shared economy - The consumer powered revolution The sharing concept has created markets out of things that wouldn’t have been considered monetizable assets before. A few dozen square feet in a driveway can now produce income via Parkatmyhouse . A pooch-friendly room in your house is suddenly a pet penthouse via DogVacay. On Rentoid, an outdoorsy type with a newborn who suddenly notices her camping tent never gets used can rent it out to a city slicker who’d otherwise have to buy one . On SnapGoods, a drill lying fallow in a garage can become a income source from a homeowner who just needs to put up some quick drywall . On Spinlister , an unused bicycle becomes a way for a traveler to cheaply get around while visiting town. 11 August 2013 www.torbenrick.eu 4

#1 – Shared economy - Hotels:

Disruption #1 – Shared economy - Hotels 9Flats , HouseTrip ,  Wimdu and Airbnb – offering the convenience of a hotel, the comforts of a home and the price tag of an up-market hostel - let’s call them peer-to-peer hotels It is the most prominent example of a huge new “sharing economy”, in which people rent beds, cars, boats and other assets directly from each other, co-ordinated via the internet. 11 August 2013 www.torbenrick.eu 5

#2 - Shared economy - Banks:

#2 - Shared economy - Banks Banks are changing dramatically amid an avalanche of regulatory change and widespread debt reduction. But this is not the only disruption which banks are experiencing: The peer-to-peer lending sector is growing fast. 11 August 2013 www.torbenrick.eu 6 Disruption

#3 - Shared economy – Car rental:

#3 - Shared economy – Car rental A car used to be the ultimate symbol of freedom and independence but increasingly consumers view ownership as an expense and a burden. Car Sharing is becoming increasingly popular with its promise of personal convenience and social improvement. 11 August 2013 www.torbenrick.eu 7 Disruption

#4 - Shared economy – Parking:

#4 - Shared economy – Parking As more consumers become comfortable with the idea of connecting with a stranger to rent out their stuff, more sites have emerged solely focused on connecting parking spot and driveway owners with parkers. Sites like “Park At My House” offers home and business owners way to put their parking spots and driveways up for rent to prospective parkers. By compiling a network of unused parking spaces, Parking Panda provides drivers with a list of available spots, allowing them to reserve and pay online. 11 August 2013 www.torbenrick.eu 8 Disruption

#5 - Shared economy – Bags :

#5 - Shared economy – B ags Sites such as Bag, Borrow or Steal and Rent the Runway empower consumers to lend clothing, bags etc. to each other. For instance, Bag, Borrow or Steal specializes in helping consumers lend designer handbags and accessories. “All you have to do is find the perfect accessory, enjoy it, return it and repeat,” crows the site (and, by implication, you don’t need to buy that perfect accessory from a retailer ). 11 August 2013 www.torbenrick.eu 9 Disruption

#6 - Shared economy – Clothing:

#6 - Shared economy – C lothing Thesixosix , aims to give fashion-conscious sharers a helping hand by providing a community closet to pull from. “Because you need clothing, not a closet”. 11 August 2013 www.torbenrick.eu 10 Disruption

#7 - Shared economy – Taxi:

#7 - Shared economy – Taxi The automotive industry risks being disrupted by car-sharing businesses such as Lyft and Sidecar (consumer-to-consumer taxis) 11 August 2013 www.torbenrick.eu 11 Disruption

#8 - Shared economy – Borrow things:

#8 - Shared economy – B orrow things NeighborGoods , an online community where users can lend and borrow things locally . Members can safely borrow a lawnmower, a power drill, ladder, lend a bicycle, or earn some extra money by renting a DVD collection. 11 August 2013 www.torbenrick.eu 12 Disruption

#9 - Shared economy – Art:

#9 - Shared economy – Art GetARTup brings the art museum to your home or office. Getartup's sharing model means almost anyone can have a different piece of locally-created, contemporary art on their wall each month for far less than it would cost to own. 11 August 2013 www.torbenrick.eu 13 Disruption

#10 - Shared economy – Dogs:

#10 - Shared economy – Dogs The UK-based Borrow My Doggy connects people who want to spend time with a dog but can’t have one of their own, with people who have a dog that could benefit from more walks, connections and “tail wags .” 11 August 2013 www.torbenrick.eu 14 Disruption

#11 - Shared economy – Bike:

#11 - Shared economy – Bike On Spinlister , an unused bicycle becomes a way for a traveler to cheaply get around while visiting town The growth of bike sharing is exceptional 11 August 2013 www.torbenrick.eu 15 Disruption

#12 - Shared economy – Lego:

#12 - Shared economy – Lego Playgo - A Netflix-like rental service for Lego sets 11 August 2013 www.torbenrick.eu 16 Disruption

#13 - Shared economy – Task:

#13 - Shared economy – Task But it have also created demand for product and services that didn’t exist before: TaskRabbit is a good example of that . The easiest way to explain TaskRabbit is … neighbors helping neighbors. A technologically innovative company connecting a community in real-time via social, location based, and mobile components, which one could call a “Service Network .” TaskRabbit has developed an innovative way for urbanites to get their chores and tasks done quickly and easily by enlisting the help of local “ TaskRabbits .” 11 August 2013 www.torbenrick.eu 17

What is next?:

What is next? How disruptive is your business? Top 5+ disruptive change questions 11 August 2013 www.torbenrick.eu 18

Thanks:

Thanks © Torben Rick http://www.torbenrick.eu Blog http://www.torbenrick.eu/blog /

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