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What's Mine Is Yours: How Collaborative Consumption Is Changing the Way We Live by Rachel Botsman, Roo Rogers
Airbnb, barriers to entry, Bernie Madoff, bike sharing scheme, Buckminster Fuller, carbon footprint, Cass Sunstein, collaborative consumption, collaborative economy, Community Supported Agriculture, credit crunch, crowdsourcing, dematerialisation, disintermediation, en.wikipedia.org, experimental economics, George Akerlof, global village, Hugh Fearnley-Whittingstall, information retrieval, iterative process, Kevin Kelly, Kickstarter, late fees, Mark Zuckerberg, market design, Menlo Park, Network effects, new economy, new new economy, out of africa, Parkinson's law, peer-to-peer lending, Ponzi scheme, pre–internet, recommendation engine, RFID, Richard Stallman, ride hailing / ride sharing, Robert Shiller, Robert Shiller, Ronald Coase, Search for Extraterrestrial Intelligence, SETI@home, Simon Kuznets, Skype, slashdot, smart grid, South of Market, San Francisco, Stewart Brand, The Nature of the Firm, The Spirit Level, The Wealth of Nations by Adam Smith, The Wisdom of Crowds, Thorstein Veblen, Torches of Freedom, transaction costs, traveling salesman, ultimatum game, Victor Gruen, web of trust, women in the workforce, Zipcar
We call this groundswell Collaborative Consumption. The collaboration at the heart of Collaborative Consumption may be local and face-to-face, or it may use the Internet to connect, combine, form groups, and find something or someone to create “many to many” peer-to-peer interactions. Simply put, people are sharing again with their community—be it an office, a neighborhood, an apartment building, a school, or a Facebook network. But the sharing and collaboration are happening in ways and at a scale never before possible, creating a culture and economy of what’s mine is yours. Every day people are using Collaborative Consumption—traditional sharing, bartering, lending, trading, renting, gifting, and swapping, redefined through technology and peer communities. Collaborative Consumption is enabling people to realize the enormous benefits of access to products and services over ownership, and at the same time save money, space, and time; make new friends; and become active citizens once again.
In other words, we benefit from a ‘collaborative individualism.’ ” An increasing number of Millennials have grown up with Collaborative Consumption. But these habits are not confined to one generation. While you need to be a bit Web savvy to participate in many forms of Collaborative Consumption, you do not need to be a technology geek or computer sophisticate, nor do you need to live in a major city. Indeed, from the masses of baby boomers addicted to eBay (21 percent of all users are over fifty years old)4 to the Gen Xers increasingly using bartering services, people are participating in different types of Collaborative Consumption from a diverse array of subcultures and socioeconomic and demographic groups. There are also two distinct ways to participate in Collaborative Consumption, each with different appeal to different people. You can play the role of “peer provider” by providing assets to rent, share, or borrow.
In contrast to the “me” brands of hyper-consumerism, “we”-based relationships are built into Collaborative Consumption. In the same way that brands have manipulated us to want more and more stuff by connecting advertising campaigns to deep fundamental human needs and motivations, brands can make us want more of the sustainable values and benefits attached to Collaborative Consumption. These values include relationships, respect, support, skills, happiness, new habits, space, and even time. We became hooked on the likes of Apple, Volkswagen, and Abercrombie & Fitch because these brands helped us create self-esteem and identity. Now we are latching onto the rising brands of Collaborative Consumption for similar reasons but through interactions and community, not mere shopping. Collaborative Consumption helps feed what Marilynn Brewer, a social psychologist at Ohio State University, refers to as our “social self,” the part of us that seeks connection and belonging.
The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism by Arun Sundararajan
3D printing, additive manufacturing, Airbnb, Amazon Mechanical Turk, autonomous vehicles, barriers to entry, bitcoin, blockchain, Burning Man, call centre, collaborative consumption, collaborative economy, collective bargaining, corporate social responsibility, cryptocurrency, David Graeber, distributed ledger, employer provided health coverage, Erik Brynjolfsson, ethereum blockchain, Frank Levy and Richard Murnane: The New Division of Labor, future of work, George Akerlof, gig economy, housing crisis, Howard Rheingold, Internet of things, inventory management, invisible hand, job automation, job-hopping, Kickstarter, knowledge worker, Kula ring, Lyft, megacity, minimum wage unemployment, moral hazard, Network effects, new economy, Oculus Rift, pattern recognition, peer-to-peer lending, profit motive, purchasing power parity, race to the bottom, recommendation engine, regulatory arbitrage, rent control, Richard Florida, ride hailing / ride sharing, Robert Gordon, Ronald Coase, Second Machine Age, self-driving car, sharing economy, Silicon Valley, smart contracts, Snapchat, social software, supply-chain management, TaskRabbit, The Nature of the Firm, total factor productivity, transaction costs, transportation-network company, two-sided market, Uber and Lyft, Uber for X, universal basic income, Zipcar
A study by Fortune magazine of term usage in the New York Times, the Wall Street Journal, and the Washington Post revealed that “sharing economy” was used five times as frequently as “on-demand economy” and “gig economy” in the first six months of 2015, but that the latter two terms were gaining popularity.12 Before I delve into the intellectual precursors to today’s sharing economy, I’d like to consider the definitions implicit in two influential books that have appeared concurrent with the mainstream emergence of the sharing economy—Rachel Botsman and Roo Rogers’s What’s Mine Is Yours: The Rise of Collaborative Consumption (2010) and Lisa Gansky’s The Mesh (2010)—and look as well at the ideas in Alex Stephany’s more recent book, The Business of Sharing (2015). Botsman and Rogers attempt in their book to lay out what they consider a broad shift in consumption from the 20th century to the 21st. The authors maintain that the 20th century was defined by “hyper consumption,” whereas the 21st century stands to become the century of “collaborative consumption.” Access in hyper consumption is defined by credit, whereas access in collaborative consumption is driven by reputation; choice in hyper consumption is defined by advertising, whereas choice in collaborative consumption is driven by community. Hyper consumption is defined by ownership, collaborative consumption by shared access.
Hyper consumption is defined by ownership, collaborative consumption by shared access. As they observe: “The Collaboration at the heart of Collaborative Consumption may be local and face-to-face, or it may use the Internet to connect, combine, form groups, and find something or someone to create ‘many-to-many’ peer-to-peer interactions. Simply put, people are sharing again with their community—be it an office, a neighborhood, an apartment building, a school, or a Facebook network.”13 Botsman and Rogers define collaborative consumption, their preferred term, in accordance with a set of principles that include critical mass, idling capacity (the untapped value of unused or underused assets), belief in the commons, and trust in strangers. Botsman has since expanded on these ideas in numerous talks around the world, and in some definitional articles in 2014 and 2015 that I return to in chapter 3.
I return to the economics of peer-to-peer rental markets in further depth in chapter 5. Botsman’s Four Quadrants In 2013, Rachel Botsman proposed a framework for organizing the “collaborative economy,” laying out four broad sites of economic activity: collaborative production, collaborative consumption, collaborative finance, and collaborative education.18 Collaborative production is concerned with the design, production, and distribution of goods through collaborative networks. By contrast, collaborative consumption seeks to maximize assets through their shared redistribution. Airbnb and Getaround are good examples. The third category involves collaborative forms of finance, such as Funding Circle and Kiva, or Bitcoin (which enables people to carry out transactions without a traditional third-party intermediary).
3D printing, additive manufacturing, Airbnb, autonomous vehicles, back-to-the-land, big-box store, bioinformatics, bitcoin, business process, Chris Urmson, clean water, cleantech, cloud computing, collaborative consumption, collaborative economy, Community Supported Agriculture, computer vision, crowdsourcing, demographic transition, distributed generation, en.wikipedia.org, Frederick Winslow Taylor, global supply chain, global village, Hacker Ethic, industrial robot, informal economy, intermodal, Internet of things, invisible hand, Isaac Newton, James Watt: steam engine, job automation, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, Julian Assange, Kickstarter, knowledge worker, labour mobility, Mahatma Gandhi, manufacturing employment, Mark Zuckerberg, market design, means of production, meta analysis, meta-analysis, natural language processing, new economy, New Urbanism, nuclear winter, Occupy movement, oil shale / tar sands, pattern recognition, peer-to-peer lending, personalized medicine, phenotype, planetary scale, price discrimination, profit motive, RAND corporation, randomized controlled trial, Ray Kurzweil, RFID, Richard Stallman, risk/return, Ronald Coase, search inside the book, self-driving car, shareholder value, sharing economy, Silicon Valley, Skype, smart cities, smart grid, smart meter, social web, software as a service, spectrum auction, Steve Jobs, Stewart Brand, the built environment, The Nature of the Firm, The Structural Transformation of the Public Sphere, The Wealth of Nations by Adam Smith, The Wisdom of Crowds, Thomas Kuhn: the structure of scientific revolutions, Thomas L Friedman, too big to fail, transaction costs, urban planning, Watson beat the top human players on Jeopardy!, web application, Whole Earth Catalog, Whole Earth Review, WikiLeaks, working poor, Zipcar
I have no doubt that most social entrepreneurs line up in the second category, but are anxious to at least find a responsible way to engage the conventional capitalist system in the newly forming networked Commons. Neal Gorenflo, the cofounder and editor of Shareable magazine, a nonprofit online media publication that reports on new developments in the collaborative consumption economy, notes that while U.S. retail sales in 2011 were $4.7 trillion, collaborative consumption represented nearly $100 billion in turnover that year. Gorenflo asked what retailers can do to leverage their formidable commercial power and quickly take collaborative consumption mainstream.46 Gorenflo outlines a tracking system that would allow a retailer to continue to capture part of the income stream of each item it sold, as it moved from user to user across the sharable economy. The point of purchase at the retailer would be “a gateway to a collaborative marketplace that manages a product through its lifecycle including multiple owners and users.”47 Each item would have all the product and transaction data automatically encoded on it and a unique identifier providing a chronicle of its journey from one user to another.
When that happens, collaborative production and exchange will scale up from a niche sector to the dominant paradigm and capitalism will be reactive to the Commons, not the other way around. Botsman captures the physiology of the new economic paradigm growing up in our midst. She writes: Every day people are using Collaborative Consumption—traditional sharing, bartering, lending, trading, renting, gifting, and swapping, redefined through technology and peer communities. Collaborative Consumption is enabling people to realize the enormous benefits of access to products and services over ownership, and at the same time save money, space, and time; make new friends; and become active citizens once again. . . . These systems provide significant environmental benefits by increasing use efficiency, reducing waste, encouraging the development of better products, and mopping up the surplus created by over-production and -consumption.30 Sharing Everything Much of what we own goes unused some of the time.
—Vandana Shiva, environmental activist and recipient of the Right Livelihood Award “If you want to understand why we are in the midst of a massive paradigm shift from an age of top-down, centralized institutions to a world of distributed and collaborative power, I would highly recommend reading Jeremy Rifkin’s new book. He clearly joins the dots on how the likes of 3D printing, crowdfunding, and online education platforms are all connected and describes the disruptions that lie just around the corner for most sectors.” —Rachel Botsman, author of What’s Mine is Yours: How Collaborative Consumption Is Changing The Way We Live “Jeremy Rifkin understands that it’s people and communities who are at the heart of the new economic paradigm. People all over the world are building the collaborative economy and Rifkin’s thoughtful analysis further illustrates that this is an idea whose time has come.” —Natalie Foster, executive director of peers.org The Zero Marginal Cost Society The Zero Marginal Cost Society The Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism Jeremy Rifkin THE ZERO MARGINAL COST SOCIETY Copyright © Jeremy Rifkin All rights reserved.
Exponential Organizations: Why New Organizations Are Ten Times Better, Faster, and Cheaper Than Yours (And What to Do About It) by Salim Ismail, Yuri van Geest
23andMe, 3D printing, Airbnb, Amazon Mechanical Turk, Amazon Web Services, augmented reality, autonomous vehicles, Baxter: Rethink Robotics, bioinformatics, bitcoin, Black Swan, blockchain, Burning Man, business intelligence, business process, call centre, chief data officer, Clayton Christensen, clean water, cloud computing, cognitive bias, collaborative consumption, collaborative economy, corporate social responsibility, cross-subsidies, crowdsourcing, cryptocurrency, dark matter, Dean Kamen, dematerialisation, discounted cash flows, distributed ledger, Edward Snowden, Elon Musk, en.wikipedia.org, ethereum blockchain, Galaxy Zoo, game design, Google Glasses, Google Hangouts, Google X / Alphabet X, gravity well, hiring and firing, Hyperloop, industrial robot, Innovator's Dilemma, Internet of things, Iridium satellite, Isaac Newton, Jeff Bezos, Kevin Kelly, Kickstarter, knowledge worker, Kodak vs Instagram, Law of Accelerating Returns, Lean Startup, life extension, loose coupling, loss aversion, Lyft, Mark Zuckerberg, market design, means of production, minimum viable product, natural language processing, Netflix Prize, Network effects, new economy, Oculus Rift, offshore financial centre, p-value, PageRank, pattern recognition, Paul Graham, Peter H. Diamandis: Planetary Resources, Peter Thiel, prediction markets, profit motive, publish or perish, Ray Kurzweil, recommendation engine, RFID, ride hailing / ride sharing, risk tolerance, Ronald Coase, Second Machine Age, self-driving car, sharing economy, Silicon Valley, skunkworks, Skype, smart contracts, Snapchat, social software, software is eating the world, speech recognition, stealth mode startup, Stephen Hawking, Steve Jobs, subscription business, supply-chain management, TaskRabbit, telepresence, telepresence robot, Tony Hsieh, transaction costs, Tyler Cowen: Great Stagnation, urban planning, WikiLeaks, winner-take-all economy, X Prize, Y Combinator
This practice optimizes flexibility and allows the enterprise to scale incredibly quickly as it obviates the need for staff to manage those assets. Just as Waze piggybacked off its users’ smartphones, Uber, Lyft, BlaBlaCar and Sidecar leverage under-utilized cars. (If you own a car, it sits empty about 93 percent of the time.) The latest wave of non-asset businesses is something called Collaborative Consumption, a concept evangelized by Rachel Botsman and Roo Rogers in their book, What’s Mine is Yours: The Rise of Collaborative Consumption. The book pushes the sharing philosophy forward by establishing information-enabled assets of all kinds, from textbooks to gardening tools to housing—assets and resources that are abundant and widely available. Research conducted by Crowd Companies in April 2014 highlights the industries in which seventy-seven of the largest organizations in this new economy operate.
But remember: every industry is becoming information-based, either by being digitized or by using information to identify under-utilized assets (e.g., collaborative consumptions). With Airbnb, for example, the marginal cost of a new room to rent is essentially zero. Not so for Hyatt or Hilton. A key reason for this drop in marginal cost is that there is (relative) abundance of supply. As shown in their book Abundance, Peter Diamandis and Steven Kotler argue that as technology brings us a world of abundance, access will triumph over ownership. By comparison, scarcity of supply or resources tends to keep costs high and stimulates ownership over access. Today, a trend known as Collaborative Consumption leverages the Internet and social networks to create a more efficient utilization of physical assets. The following shows just some of the vertical markets affected by the phenomenon of moving from “possess” to “access”: bartering, bike sharing, boat sharing, carpooling, ride sharing, car sharing, collaborative workspace, co-housing, co-working, crowdfunding, garden sharing, fractional ownership, peer-to-peer renting, product service systtem, seed swaps, taxi shares, time banks, virtual currency (Source: Wikipedia).
Soon, every town and neighborhood will have one, meaning that any individual or small team will be able to rent equipment and be as capital-empowered as an established corporation. A comparable transformation is taking place with biotech equipment. BioCurious, another Silicon Valley invention, is an open wetlab where enthusiasts take courses, use centrifuges and test tubes, and synthesize DNA. Genspace offers a similar resource in New York City. This rent-not-own philosophy further extends the current craze of collaborative consumption and the sharing economy. There’s less and less need to own a factory, a laboratory or even a scientific tool. Instead, why not rent those assets, reducing up-front investment and leaving the ownership and maintenance of state-of-the-art facilities to someone else? Further, given that the control mechanisms offered by software and the Internet allow the management of these capabilities at a distance, why build your own?
Utopia Is Creepy: And Other Provocations by Nicholas Carr
Air France Flight 447, Airbnb, AltaVista, Amazon Mechanical Turk, augmented reality, autonomous vehicles, Bernie Sanders, book scanning, Brewster Kahle, Buckminster Fuller, Burning Man, Captain Sullenberger Hudson, centralized clearinghouse, cloud computing, cognitive bias, collaborative consumption, computer age, corporate governance, crowdsourcing, Danny Hillis, deskilling, Donald Trump, Elon Musk, factory automation, failed state, feminist movement, Frederick Winslow Taylor, friendly fire, game design, global village, Google bus, Google Glasses, Google X / Alphabet X, Googley, hive mind, impulse control, indoor plumbing, interchangeable parts, Internet Archive, invention of movable type, invention of the steam engine, invisible hand, Isaac Newton, Jeff Bezos, jimmy wales, job automation, Kevin Kelly, low skilled workers, Mark Zuckerberg, Marshall McLuhan, means of production, Menlo Park, mental accounting, natural language processing, Network effects, new economy, Nicholas Carr, oil shale / tar sands, Peter Thiel, Plutocrats, plutocrats, profit motive, Ralph Waldo Emerson, Ray Kurzweil, recommendation engine, Republic of Letters, robot derives from the Czech word robota Czech, meaning slave, Ronald Reagan, self-driving car, SETI@home, side project, Silicon Valley, Silicon Valley ideology, Singularitarianism, Snapchat, social graph, social web, speech recognition, Startup school, stem cell, Stephen Hawking, Steve Jobs, Steven Levy, technoutopianism, the medium is the message, theory of mind, Turing test, Whole Earth Catalog, Y Combinator
We are at a moment of transition from “the twentieth century of hyper-consumption,” when “we were defined by credit, advertising, and what we owned,” to “the twenty-first century of Collaborative Consumption,” when “we will be defined by reputation, by community, and by what we can access and how we share and what we give away.” But, having raised the specter of an anticonsumerist insurrection, Botsman and Rogers immediately defuse it. Like Johnson, they turn out to be more interested in the way online sharing feeds into profit-making ventures. “Perhaps what is most exciting about Collaborative Consumption,” they write, with charming naiveté, “is that it fulfills the hardened expectations on both sides of the socialist and capitalist ideological spectrum without being an ideology in itself.” In fact, “for the most part, the people participating in Collaborative Consumption are not Pollyannaish do-gooders and still very much believe in the principles of capitalist markets and self-interest. . . .
In fact, “for the most part, the people participating in Collaborative Consumption are not Pollyannaish do-gooders and still very much believe in the principles of capitalist markets and self-interest. . . . Collaborative Consumption is by no means antibusiness, antiproduct or anticonsumer.” Whew! Botsman and Rogers are more interested in co-opting anticonsumerist energies than unleashing them. A similar tension, between revolutionary rhetoric and counterrevolutionary message, runs through the popular “wikinomics” writings of consultants Don Tapscott and Anthony Williams. In their new book, Macrowikinomics, they again promote the net as, to quote from Tom Slee’s trenchant review, “a revolutionary force for change, carrying us to a radically different future.” And yet, as Slee goes on to point out, the blurbs on the back of the book come from a who’s who of big company CEOs. The populist revolution that Tapscott and Williams describe is one that bears, explicitly, the imprimatur of Davos billionaires.
There’s nothing wrong with that view, I suppose—these are all writers who court business audiences—but their writings do testify to just how far we’ve come from the idealism of the early days of cyberspace. Back then, online communities were proudly anticommercial, and the net’s free exchanges stood in opposition to what John Perry Barlow, in his “Declaration of the Independence of Cyberspace,” dismissively termed “the Industrial World.” By encouraging us to think of sharing as Collaborative Consumption, the technologies of the web now look like they will have, as their true legacy, the spread of market forces into the most intimate spheres of life. THE QUALITY OF ALLUSION IS NOT GOOGLE January 15, 2011 ADAM KIRSCH, THE USUALLY deft critic, goes agley in a new Wall Street Journal column, “Literary Allusion in the Age of Google.” The piece begins well, as things that go agley so often do.
4chan, Airbnb, Amazon Mechanical Turk, asset-backed security, barriers to entry, Berlin Wall, big-box store, bitcoin, blockchain, citizen journalism, collaborative consumption, congestion charging, Credit Default Swap, crowdsourcing, data acquisition, David Brooks, don't be evil, gig economy, Hacker Ethic, income inequality, informal economy, invisible hand, Jacob Appelbaum, Jane Jacobs, Jeff Bezos, Khan Academy, Kibera, Kickstarter, license plate recognition, Lyft, Mark Zuckerberg, move fast and break things, natural language processing, Netflix Prize, Network effects, new economy, Occupy movement, openstreetmap, Paul Graham, peer-to-peer lending, Peter Thiel, pre–internet, principal–agent problem, profit motive, race to the bottom, Ray Kurzweil, recommendation engine, rent control, ride hailing / ride sharing, sharing economy, Silicon Valley, Snapchat, software is eating the world, South of Market, San Francisco, TaskRabbit, The Nature of the Firm, Thomas L Friedman, transportation-network company, Uber and Lyft, Uber for X, ultimatum game, urban planning, WikiLeaks, winner-take-all economy, Y Combinator, Zipcar
“Collaborative Finance: By the People, For the People.” Collaborative Consumption, July 31, 2014. http://www.collaborativeconsumption.com/2014/ 07/31/collaborative-finance-by-the-people-for-the-people/. ———. “The Sharing Economy Lacks A Shared Definition.” Co.Exist, November 21, 2013. http://www.fastcoexist.com/3022028/the-sharing-economy-lacks-a-shared-definition. ———. “Transcript of ‘The Currency of the New Economy Is Trust.’” TED talk, September 2012. http://www.ted.com/talks/rachel_botsman_the_currency_of_the_new_economy_is_trust/transcript. ———. “Welcome to the New Reputation Economy.” Wired, September 2012. http://www.wired.co.uk/magazine/archive/2012/09/features/welcome-to-the-new-reputation-economy. Botsman, Rachel, and Roo Rogers. What’s Mine Is Yours: The Rise of Collaborative Consumption. Harper Business, 2010.
It suggests exchanges that do not involve money, or that are at least motivated by generosity, by a desire to give or to help. “Economy” suggests market transactions—the self-interested exchange of money for goods or services. There has been a lot of debate about whether “sharing economy” is the right name to use to describe this new wave of businesses, and a raft of other names have been tried out—collaborative consumption, the mesh economy, peer-to-peer platforms, the gig economy, concierge services, or, increasingly, the “on-demand economy.” There is no doubt that the word “sharing” has been stretched beyond reasonable limits as the “sharing economy” has grown and changed, but we still need a name when we talk about the phenomenon. While it may not last more than another year or so, “sharing economy” is the name used right now in 2015.
But in 2000 when Antje Danielson and Robin Chase started ZipCar, they brought a new ambition to the space. Just as the story of Airbnb is featured in Rachel Botsman and Roo Rogers’ What’s Mine Is Yours, Zipcar takes the pole position in Lisa Gansky’s 2010 book The Mesh: Why the Future of Business is Sharing.2 Zipcar was never a peer-to-peer company, as the cars were all owned by the company, but it was a form of shared or collaborative consumption based on digital technology: Gansky quotes Chase as saying, once Danielson described a Berlin car-sharing service to her, “A lightbulb went off in my head. I thought: This was what the Internet was made for.” Perhaps even more than Airbnb, Zipcar became the original Sharing Economy company. And Zipcar did grow: from its beginnings in Boston (2001) to New York (2003), and then to San Francisco in 2005, Toronto in 2006, and London later that same year, reaching about a quarter of a million members by 2008.
Frugal Innovation: How to Do Better With Less by Jaideep Prabhu Navi Radjou
3D printing, additive manufacturing, Affordable Care Act / Obamacare, Airbnb, Albert Einstein, barriers to entry, Baxter: Rethink Robotics, Bretton Woods, business climate, business process, call centre, Capital in the Twenty-First Century by Thomas Piketty, carbon footprint, cloud computing, collaborative consumption, collaborative economy, connected car, corporate social responsibility, crowdsourcing, Elon Musk, financial innovation, global supply chain, income inequality, industrial robot, Internet of things, job satisfaction, Khan Academy, Kickstarter, late fees, Lean Startup, low cost carrier, M-Pesa, Mahatma Gandhi, megacity, minimum viable product, more computing power than Apollo, new economy, payday loans, peer-to-peer lending, Peter H. Diamandis: Planetary Resources, precision agriculture, race to the bottom, reshoring, ride hailing / ride sharing, risk tolerance, Ronald Coase, self-driving car, shareholder value, sharing economy, Silicon Valley, Silicon Valley startup, six sigma, smart grid, smart meter, software as a service, Steve Jobs, supply-chain management, TaskRabbit, The Fortune at the Bottom of the Pyramid, The Nature of the Firm, transaction costs, unbanked and underbanked, underbanked, women in the workforce, X Prize, yield management, Zipcar
Similarly, why pay $400 for a night in a New York hotel when Airbnb will find you a couch to crash on in Manhattan (or 8,000 other cities the site covers) for $40? This grassroots shift from an ownership-based consumer economy to a sharing society is propelling the growth of a peer-to-peer economic model based on frugality that involves sharing, bartering, swapping, renting or trading. Collaborative consumers do not covet the latest and fanciest products; they prefer good-enough solutions that meet basic needs. Collaborative consumption, a concept popularised by Rachel Botsman in her book What’s Mine Is Yours, threatens to disrupt many industries. In 2013, more people used BlaBlaCar, a leading European car-sharing service, than travelled by the high-speed Eurostar train between London and Paris.8 Airbnb now rents more room nights annually than Hilton’s entire hotel chain does globally. And the peer-to-peer lending market, which bypasses banks and their hefty hidden fees, passed the $1 billion mark in early 2012.
Widening the sharing economy In a circular economy, a product undergoes multiple incarnations – with its materials being recycled and reused again and again – thus sustaining its value over multiple lifetimes. During any particular lifetime, however, the product is most likely to be owned and used by just one customer. But what if, during even a single lifetime or incarnation, the same product could be consumed by many users? Then the same inputs could be made to create greater value for more and more users. That is the underlying premise of the sharing economy – also known as collaborative consumption – in which participants aspire to share access to goods and services rather than to have individual ownership. Sharing economy firms include Airbnb (sharing homes), RelayRides, BlaBlaCar and easyCar (sharing cars), ParkatmyHouse (sharing parking spaces), BringBee (sharing trips to the grocery store), Wishi or Wear It Share It (choosing clothes), Eatwith (sharing your dinner), yerdle.com (sharing household equipment with neighbours), Skillshare (sharing skills and knowledge) and TaskRabbit (outsourcing small jobs and errands).
The 2014 Sustainable Living Plan reports progress against its targets including “48% of agricultural raw materials from sustainable sources, up from 14% in 2010” and success in helping “303 million people improve their health and well-being through Lifebuoy, Signal, Pureit and Dove brands, up from 52 million in 2010”. Conclusion A few pioneering Western firms are making sustainability a strategic objective. New approaches such as cradle-to-cradle and collaborative consumption are both causes and consequences of this shift; and these trends will drive the frugal innovation revolution in the West. Unilever, Marks & Spencer and Kingfisher have made impressive progress in reducing their environmental footprint, but they face another big challenge in extending sustainability to consumers. As the UK’s Daily Telegraph reported in 2013: Two-thirds of the greenhouse-gas emissions from Unilever’s products – and half the water consumption – come not from manufacture or transport, but from their use.
The Great Fragmentation: And Why the Future of All Business Is Small by Steve Sammartino
3D printing, additive manufacturing, Airbnb, augmented reality, barriers to entry, Bill Gates: Altair 8800, bitcoin, BRICs, Buckminster Fuller, citizen journalism, collaborative consumption, cryptocurrency, Elon Musk, fiat currency, Frederick Winslow Taylor, game design, Google X / Alphabet X, haute couture, helicopter parent, illegal immigration, index fund, Jeff Bezos, jimmy wales, Kickstarter, knowledge economy, Law of Accelerating Returns, market design, Metcalfe's law, Minecraft, minimum viable product, Network effects, new economy, post scarcity, prediction markets, pre–internet, profit motive, race to the bottom, random walk, Ray Kurzweil, recommendation engine, remote working, RFID, self-driving car, sharing economy, side project, Silicon Valley, Silicon Valley startup, skunkworks, Skype, social graph, social web, software is eating the world, Steve Jobs, too big to fail, web application
Steve Sammartino ABOUT THE AUTHOR Steve Sammartino had his first startup before the age of 10, running an organic egg farm in the early 1980's before the words organic or startup had been invented. The first phase of his ‘adult' career was in marketing, working his way into senior executive roles in global consumer goods companies and advertising agencies. He escaped his cubicle for the first time in 2005 and went on to found rentoid.com — a peer-to-peer renting portal that became a leader in the collaborative consumption movement. After a successful exit he embarked on a number of crazy side projects including putting a Lego space shuttle into actual orbit, building a jet-powered bicycle, and crowdfunding the build of a full-size Lego car that runs on air and uses an engine made of Lego — all to prove what's possible in a connected world with low cost technology. He does some serious stuff too. Steve also travels the world helping companies transition from industrial-era thinking into the digital age, writes on business and technology issues and blogs to over 30 000 readers a month.
We can now get our hands on goods that could once only be bought or rented at ‘insult renting’ rates. It’s not just the sellers who are being inconvenienced by the shift from owning to accessing, it’s all sorts of hiring businesses. Traditional business that played in the temporary access space, as well as those in the hiring and rental area (such as accommodation and cars) are also being significantly disrupted by this shift. The collaborative consumption movement means that buying is a choice rather than a necessity. We can rent cars by increments of hours now and have all the benefits of a private car on demand without the excessive cost of hiring or owning one. This is pretty significant given that the average motor vehicle spends more than 90 per cent of its available life idle in a car space. We can now gain temporary access to goods, from haute-couture handbags, to chainsaws, to private jets, to gardens, to office spaces, to bicycles.
I mean we’re sharing our total lives online and anything that isn’t real doesn’t make us look very cool. It’s much cooler to tweet photos of the organic Ethiopian cuisine we’re just about to have for lunch from some newly emerging inner-city suburb eatery than a flash restaurant because it’s ‘real’. Today, the having is in the doing, not the owning. Having and owning is fake; doing and experiencing is real. We’ve seen one of the top-10 trends globally on the web as collaborative consumption (discussed in chapter 8) because it connects us and makes things real. We’re no longer outsourcing our joy to buying things, but gaining joy from experiencing events. For gaming to get to a permanent and commercial level it needs to do the same thing; that is, be about the events and activities we partake in. But more importantly it must interweave seamlessly into our lives and be part of what we do, just as the games of working, earning money, investing money and modern commerce are a natural part of modern civilisation.
50 Future Ideas You Really Need to Know by Richard Watson
23andMe, 3D printing, access to a mobile phone, Albert Einstein, artificial general intelligence, augmented reality, autonomous vehicles, BRICs, Buckminster Fuller, call centre, clean water, cloud computing, collaborative consumption, computer age, computer vision, crowdsourcing, dark matter, dematerialisation, digital Maoism, Elon Musk, energy security, failed state, future of work, Geoffrey West, Santa Fe Institute, germ theory of disease, happiness index / gross national happiness, hive mind, hydrogen economy, Internet of things, Jaron Lanier, life extension, Marshall McLuhan, megacity, natural language processing, Network effects, new economy, oil shale / tar sands, pattern recognition, peak oil, personalized medicine, phenotype, precision agriculture, profit maximization, RAND corporation, Ray Kurzweil, RFID, Richard Florida, Search for Extraterrestrial Intelligence, self-driving car, semantic web, Skype, smart cities, smart meter, smart transportation, statistical model, stem cell, Stephen Hawking, Steve Jobs, Steven Pinker, Stewart Brand, strong AI, Stuxnet, supervolcano, telepresence, The Wisdom of Crowds, Thomas Malthus, Turing test, urban decay, Vernor Vinge, Watson beat the top human players on Jeopardy!, web application, women in the workforce, working-age population, young professional
In the future, people who live alone might have to pay higher taxes, because doing so means more housing, household appliances and cars. Or will they find new ways of sharing resources through collaborative consumption? Single-person future So what are some of the other implications of a world where more people live on their own? One area affected is retail. Increased numbers of single-person households, especially in inner-city areas, mean that value and convenience are usually more important than choice. One mundane, but nevertheless prophetic, example is that items such as chicken breasts can now be bought in packs of one in urban supermarkets rather than just in packs of two, four or six. This could be a profitable area for retailers because the margins on single-serve packs are often greater than on larger packs. Another is collaborative consumption, where people share resources because it’s cheaper than each individual owning, say, a car.
Your problem is mine Open innovation, an idea originally pioneered by the open-source software community, has the potential to radically change how and where our problems are solved. In one sense the wisdom of crowds is no different from old-fashioned suggestion boxes, but the big difference is scale and to some extent speed. With enough networked minds, all problems become shallow. Linked to this idea is another, namely collaborative consumption. This is the use of connecting technologies to allow people to share and exchange all kinds of physical and digital goods, services, assets and skills. Media is an example. Once it was narrowly broadcast and tightly controlled by a few for the many. There wasn’t much democracy, but it was a communal experience. Now media is increasingly created and consumed by individuals and its fragmentary and atomized nature means that you can find whatever interests you personally and have it delivered on a device of your choosing at any time, any place, anywhere.
Stuffocation by James Wallman
3D printing, Airbnb, back-to-the-land, Berlin Wall, big-box store, Black Swan, BRICs, carbon footprint, Cass Sunstein, clean water, collaborative consumption, crowdsourcing, David Brooks, Fall of the Berlin Wall, happiness index / gross national happiness, high net worth, income inequality, James Hargreaves, Joseph Schumpeter, Martin Wolf, McMansion, means of production, Nate Silver, Occupy movement, post-industrial society, Post-materialism, post-materialism, Richard Florida, Richard Thaler, sharing economy, Silicon Valley, Simon Kuznets, Skype, spinning jenny, The Signal and the Noise by Nate Silver, Thorstein Veblen, Tyler Cowen: Great Stagnation, World Values Survey, Zipcar
But now they want things that are different – more durable, say, or more egalitarian, or more participatory.” Moreover, the experience economy should not feel like hopeful idealism because, even though it is still unevenly distributed, there are many signs that it is already happening. Consider, for instance, the rise of experiential events, e-books, TOMS shoes, the Common Threads Initiative, Puma’s Clever Little Shopper, collaborative consumption, the runaway success of Apple, and why London is one of the most visited cities in the world. These are stellar examples, the pioneers, if you like, of the experience economy. Here is why. As someone who has made the shift to reading on a digital device, you already know how e-books help solve the problem of Stuffocation: fewer trees cut down, lower carbon footprint, instant access so no need to actually go to the shops, and, best of all, fewer books cluttering up the house or your bag or your suitcase when you go on holiday.
To solve that, Puma created a bag that, rather than add to the clutter in your home when you stash it away, or the guilt you feel when you throw it out, would simply disappear. Put the brand’s Clever Little Shopper bag in hot water for three minutes and it harmlessly dissolves, so you can pour it safely down the plug. The social accommodation brand Airbnb, the car-sharing service Zipcar and music-streaming site Spotify are all examples of what is variously known, from slightly different angles, as the new trend for dis-ownership, the sharing economy and collaborative consumption. Now, thanks to these trends and the technologies that make them possible, you can enjoy the experience of a room, a house, a car, a CD, a handbag, a lawnmower, a musical instrument or even a dog – without all the hassle that comes with owning them. The success of Zipcar, for instance, reflects the space and cost that comes with keeping a car in a city, and the fact that, if you live in a city, you just do not need a car so much anymore.
“Rather than owning a thing”: millennials not so interested in material objects Various sources, including Tammy Erickson, “Meaning Is the New Money”, HBR Blog Network, 23 March 2011; and David Brooks, “The Experience Economy”, New York Times, 14 February 2011. The rise of services like Zipcar, Spotify, and Netflix For excellent introductions to how these companies operate, read Rachel Botsman and Roo Rogers, “Beyond Zipcar: Collaborative Consumption”, Harvard Business Review, October 2010; and, for the rise of these services, read “All Eyes on the Sharing Economy”, The Economist, 9 Mar 2013. CHAPTER ELEVEN Are You Experienced? Your Government Wants to Know This chapter is informed by many sources, including Roger Cohen, “The Happynomics of Life”, New York Times, 12 March 2011; Richard Layard, Happiness: Lessons from a New Science (London: Penguin, 2011).
3D printing, 4chan, A Declaration of the Independence of Cyberspace, Airbnb, Amazon Web Services, Any sufficiently advanced technology is indistinguishable from magic, Apple's 1984 Super Bowl advert, barriers to entry, Berlin Wall, big-box store, bitcoin, business climate, call centre, Cass Sunstein, centralized clearinghouse, Chelsea Manning, citizen journalism, cloud computing, collaborative consumption, collaborative editing, crony capitalism, cross-subsidies, crowdsourcing, David Brooks, death of newspapers, Donald Trump, Douglas Engelbart, en.wikipedia.org, Exxon Valdez, Fall of the Berlin Wall, Filter Bubble, Firefox, Galaxy Zoo, global supply chain, Google Chrome, Gordon Gekko, Hacker Ethic, Jaron Lanier, Jeff Bezos, jimmy wales, Julian Assange, Kevin Kelly, Khan Academy, Kickstarter, Lean Startup, Mark Zuckerberg, minimum viable product, Mohammed Bouazizi, Mother of all demos, Narrative Science, new economy, Occupy movement, Peter Thiel, pirate software, Ronald Reagan, Ronald Reagan: Tear down this wall, sharing economy, Silicon Valley, Skype, social web, Steve Jobs, Steve Wozniak, Stewart Brand, Stuxnet, Ted Nelson, Telecommunications Act of 1996, telemarketer, The Wisdom of Crowds, transaction costs, uranium enrichment, Whole Earth Catalog, WikiLeaks, Zipcar
Christopher Steiner, $20 per Gallon: How the Inevitable Rise in the Price of Gasoline Will Change Our Lives for the Better (New York: Hachette Book Group, 2009), 141. 38. http://www.npr.org/templates/story/story.php?storyId=129151987 39. Rachel Botsman, Roo Rogers, What’s Mine Is Yours: The Rise of Collaborative Consumption (New York: HarperBusiness, 2010), xx 40. http://www.fastcompany.com/1747551/sharing-economy 41. Rachel Botsman and Roo Rogers, introduction, What’s Mine Is Yours: The Rise of Collaborative Consumption (New York: HarperCollins, 2010), xvii. 42. http://www.rollingstone.com/politics/news/global-warmings-terrifying-new-math-20120719 9. Big Opportunities 1. Eamon Grennan, “Could This Be It?”, Poetry Magazine, August 1998. 2. Barbara W. Tuchman, The Guns of August (New York: Presidio Press, 1964), 1. 3.
As two observers have remarked, “The convergence of social networks, a renewed belief in the importance of community, pressing environmental concerns, and cost consciousness are moving us away from the old top-heavy, centralized, and controlled forms of consumerism toward one of sharing, aggregation, openness, and cooperation.”39 Lisa Gansky, one of the pioneer entrepreneurs of the digital eye calls this new economy “the Mesh” because of its networked enabled efficiency. Collaborative consumption might sound idealistic, but it isn’t a passing fad. According to Fast Company, a whole “new generation of businesses” is emerging that enables “the sharing of cars, clothes, couches, apartments, tools, meals, and even skills. The basic characteristic of these you-name-it sharing marketplaces is that they extract value out of the stuff we already have.”40 Three million people so far have used shared consumption sites to rent space on peoples’ couches, and over two million have used them to share bikes.
The Misfit Economy: Lessons in Creativity From Pirates, Hackers, Gangsters and Other Informal Entrepreneurs by Alexa Clay, Kyra Maya Phillips
3D printing, Airbnb, Alfred Russel Wallace, Berlin Wall, Burning Man, collaborative consumption, conceptual framework, double helix, fear of failure, game design, Hacker Ethic, Howard Rheingold, informal economy, invention of the steam engine, James Watt: steam engine, Joseph Schumpeter, Kickstarter, lone genius, Mark Zuckerberg, megacity, Occupy movement, Ronald Reagan, Rosa Parks, sharing economy, Silicon Valley, Steve Jobs, Steven Levy, Stewart Brand, supply-chain management, union organizing, Whole Earth Catalog, Whole Earth Review, Zipcar
Whereas in the past, secondhand goods carried a stigma for Spaniards, they have become a common response to the economic crisis. At the same time, Internet-based platforms—so-called time banks—have allowed Spaniards to exchange services, skills, knowledge, and trades. These platforms permit unemployed and underemployed individuals to exchange what they do have for goods and services that they need. This trend toward “collaborative consumption” is taking place worldwide. As Rachel Botsman and Roo Rogers chronicle in their book, What’s Mine Is Yours, sharing, trading, and selling idle items, time, and services is a rising trend. From Airbnb (a rental website that has gone from 120,000 listings in early 2012 to over 300,000 at the time of this writing) to Zipcar (the car-sharing service that was sold to Avis for $500 million in January 2013), people the world over are moving away from the fixed, formal “own it” model to a more fluid “exchange it” approach.
., 131–33, 170 China, 77–79, 81–82, 102–3 cholera, 128 Chongqing, China, 81 Chungking Mansions, 82, 83 Church of Scientology, 111 “Cinco de Mayo” competition, 56 civic consciousness, 173–78 civil rights, 115, 176 Civil War, U.S., 73 Clay, Alexa, 197, 220 Clay, Jason, 197–203, 204, 210 Coachella, 156 Coca-Cola, 91, 198 Coffin, Alice, 152–53 Cohen, Ben, 200 Coleman, Gabriella, 111 collaborative consumption, 65 collaborative innovation, 86, 88–91, 93, 98–102, 105 Colton, Charles Caleb, 80 common councils, 119 community building, 67–72 Community Links, 66 Congress, U.S., 73, 113 contraception, 21 Coppola, Francis, 32 Copycats (Shenkar), 83–84 copying, 77–106 in airline industry, 84–85 in automobile industry, 78–79 benefits of, 85–87, 94, 98–102 of business models, 83–85 in China, 77–79, 81–82, 102–3 collaborative innovation and, 86, 98–102, 105 collective invention and, 88–91 downloading and, 96–98 etiquette of, 103, 105 innovation fostered by, 85, 94, 96–98, 105 intellectual property law and, 79, 80 intellectual property theft and, 77, 85, 93, 105 in music industry, 90 open-source and, 99, 102–3 patents and, 91–93 in pharmaceutical industry, 94–95 research and development and, 88–89, 91, 101–2 timing and, 102–5 see also counterfeit goods; shanzhai Copyleft, 100 Cornell University, 199 Cornwall, England, 89 corporate sabotage, 154 corporations, 39 innovation in, 167 patents and, 92, 93 Costa Rica, 180 counterfeit goods, 82 food as, 80–81 global trade of, 81 Coursera, 23 Cowan, Matt, 84 Creative Commons, 113 Crick, Francis, 86 Cruise, Tom, 111 Cuban, Mark, 91 Cultural Survival, 200, 201 Culture Club, 31 Cure Violence, 131–35, 207 Dallas Buyers Club, 8 Darwin, Charles, 86–87 Davis, Jefferson, 73 Defy Ventures, 55–56, 58, 60–62, 64, 207–8, 209 Demand Progress, 113 DemoHour, 102 de Pree, Maggie, 220 Dershowitz, Alan, 190 Desert Farms, 7, 9, 72, 74 development industry, 161–69 DHL, 67, 69 Dickens, Charles, 80 digital photography, 104–5 Diners Club, 85 Disney, 97 Doctorow, Cory, 149 “Does Entrepreneurship Pay?
Common Knowledge?: An Ethnography of Wikipedia by Dariusz Jemielniak
Andrew Keen, barriers to entry, citation needed, collaborative consumption, collaborative editing, conceptual framework, continuous integration, crowdsourcing, Debian, deskilling, digital Maoism, en.wikipedia.org, Filter Bubble, Google Glasses, Hacker Ethic, hive mind, Internet Archive, invisible hand, Jaron Lanier, jimmy wales, job satisfaction, Julian Assange, knowledge economy, knowledge worker, Menlo Park, moral hazard, online collectivism, pirate software, RFC: Request For Comment, Richard Stallman, Silicon Valley, Skype, slashdot, social software, Stewart Brand, The Nature of the Firm, The Wisdom of Crowds, transaction costs, WikiLeaks, wikimedia commons
This is also perhaps why receiving a barnstar increases the likelihood of getting another one (Restivo & van de Rijt, 2012), as it reduces the risk of endorsing somebody who turns out to be unworthy. Barnstars and other awards have a strong positive social effect; other opencollaboration communities may not exploit rewards to the extent Wikipedians do (Kriplean, Beschastnikh, & McDonald, 2008). All in all, reputation is important on Wikipedia, as it is in the communities of collaborative consumption (Botsman & Rogers, 2010). In addition to informal status building and seeking, as well as identity work, Wikipedia has a system of formal roles, organized in a para- and antihierarchical system, discussed in the next chapter. 2 Formal Roles and Hierarchy A Ca ba l Tha t Rul e s the Wo r ld Wikipedia is full of paradoxes. On the one hand, it has a strong official ethos of avoiding power structures and of being democratically developed.
Doing ethnographic research from the inside, through going native, traditionally has been considered less legitimate or valid than an outsider approach. However, over the last twenty years this approach has been recognized as legitimate and as having its own advantages. A more detailed discussion of methodology is included in Appendix A. 3. Reputation building is also rapidly growing in importance in everyday life because of the increased popularity of collaborative consumption (Botsman & Rogers, 2010). 4. Wikipedias are the most popular projects within the Wikimedia Foundation, but there are many others, such as Wiktionaries, Wikinews, Wikiversities, Wikibooks, and Wikiquotes, all organized on the basis of similar community principles and run from Wikimedia Foundation computer servers. Wikileaks.org has no relation with Wikimedia projects and since 2010 does not even use MediaWiki software.
Why open source software can succeed. Research Policy, 32(7), 1243–1258. 2 4 2 R e f e r e n c e s Boser, S. (2006). Ethics and power in community-campus partnerships for research. Action Research, 4(1), 9–21. Bossewitch, J., & Sinnreich, A. (2013). The end of forgetting: Strategic agency beyond the panopticon. New Media and Society, 15(2), 224–242. Botsman, R., & Rogers, R. (2010). What’s mine is yours: The rise of collaborative consumption. New York: HarperBusiness. Bourne, D., & Özbilgin, M. F. (2008). Strategies for combating gendered perceptions of careers. Career Development International, 13(4), 320–332. Bowers, J., & Iwi, K. (1993). The discursive construction of society. Discourse and Society, 4(3), 357–393. Braverman, H. (1974). Labor and monopoly capital: The degradation of work in the twentieth century. New York: Monthly Review Press.
The Fourth Industrial Revolution by Klaus Schwab
3D printing, additive manufacturing, Airbnb, Amazon Mechanical Turk, Amazon Web Services, augmented reality, autonomous vehicles, barriers to entry, Baxter: Rethink Robotics, bitcoin, blockchain, Buckminster Fuller, call centre, clean water, collaborative consumption, conceptual framework, continuous integration, crowdsourcing, disintermediation, distributed ledger, Edward Snowden, Elon Musk, epigenetics, Erik Brynjolfsson, future of work, global value chain, Google Glasses, income inequality, Internet Archive, Internet of things, invention of the steam engine, job automation, job satisfaction, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, life extension, Lyft, megacity, meta analysis, meta-analysis, more computing power than Apollo, mutually assured destruction, Narrative Science, Network effects, Nicholas Carr, personalized medicine, precariat, precision agriculture, Productivity paradox, race to the bottom, randomized controlled trial, reshoring, RFID, rising living standards, Second Machine Age, secular stagnation, self-driving car, sharing economy, Silicon Valley, smart cities, smart contracts, software as a service, Stephen Hawking, Steve Jobs, Steven Levy, Stuxnet, The Spirit Level, total factor productivity, transaction costs, Uber and Lyft, Watson beat the top human players on Jeopardy!, WikiLeaks, winner-take-all economy, women in the workforce, working-age population, Y Combinator, Zipcar
Uber and Lyft provide much more efficient “taxi-like” services from individuals, but aggregated through a service, enabled by location services and accessed through mobile apps. In addition, they are available at a moment’s notice. The sharing economy has any number of ingredients, characteristics or descriptors: technology enabled, preference for access over ownership, peer to peer, sharing of personal assets (versus corporate assets), ease of access, increased social interaction, collaborative consumption and openly shared user feedback (resulting in increased trust). Not all are present in every “sharing economy” transaction. Positive impacts – Increased access to tools and other useful physical resources – Better environmental outcomes (less production and fewer assets required) – More personal services available – Increased ability to live off cash flow (with less need for savings to be able to afford use of assets) – Better asset utilization – Less opportunity for long-term abuse of trust because of direct and public feedback loops – Creation of secondary economies (Uber drivers delivering goods or food) Negative impacts – Less resilience after a job loss (because of less savings) – More contract / task-based labour (versus typically more stable long-term employment) – Decreased ability to measure this potentially grey economy – More opportunity for short-term abuse of trust – Less investment capital available in the system Unknown, or cuts both ways – Changed property and asset ownership – More subscription models – Less savings – Lack of clarity on what “wealth” and “well off” mean – Less clarity on what constitutes a “job” – Difficulty in measuring this potentially “grey” economy – Taxation and regulation adjusting from ownership/sales-based models to use-based models The shift in action A particular notion of ownership underlies this development and is reflected in the following questions
Discardia: More Life, Less Stuff by Dinah Sanders
Atul Gawande, big-box store, carbon footprint, clean water, clockwatching, cognitive bias, collaborative consumption, credit crunch, endowment effect, Firefox, game design, Inbox Zero, income per capita, index card, indoor plumbing, Internet Archive, Kevin Kelly, late fees, Marshall McLuhan, McMansion, Merlin Mann, side project, Silicon Valley, Stewart Brand
What's the most beautiful, useful, satisfying second-hand thing you've bought recently? Give yourself credit for saving money and saving energy by reusing. Comparison-shop between new furniture and antiques. My Ikea office cabinet and beautiful 1920s armoire weren't very different in price, but the latter gets much more active use in its place of honor in the living room. We are in the midst of a cultural shift from consumerism back to collaborative consumption with services like car sharing and projects like Neighbor Goods blossoming all around the country. Whatever you choose, remember that you have a lot of options beyond what is advertised. Scratch the going-out itch in a less expensive way. Want to visit that pricy restaurant, but it's outside your budget? Don't go for a full meal. Have a serving at home of something decent and cheap and then go out for just appetizers at the posh spot.
The End of the Suburbs: Where the American Dream Is Moving by Leigh Gallagher
Airbnb, big-box store, Burning Man, call centre, car-free, Celebration, Florida, clean water, collaborative consumption, Columbine, crack epidemic, East Village, edge city, Edward Glaeser, extreme commuting, helicopter parent, Home mortgage interest deduction, housing crisis, Jane Jacobs, low skilled workers, Mark Zuckerberg, McMansion, Menlo Park, mortgage tax deduction, New Urbanism, peak oil, Ponzi scheme, Richard Florida, Robert Shiller, Robert Shiller, Sand Hill Road, Seaside, Florida, Silicon Valley, Steve Jobs, Stewart Brand, the built environment, The Death and Life of Great American Cities, Tony Hsieh, transit-oriented development, upwardly mobile, urban planning, urban sprawl, Victor Gruen, walkable city, white flight, young professional, Zipcar
More recently, a powerful “anti-stuff” mentality has emerged, largely as a reaction to the excessive consumption patterns that sparked our financial crisis. Home size has decreased over the past few years, while movements like the “Not So Big House,” which focuses on building slightly smaller homes that offer greater function and higher quality, and “LifeEdited,” which preaches the reduction of posessions, have gained traction. The rise of so-called collaborative consumption, meanwhile, has popularized the mass sharing of cars, homes, clothes, and more. All of these philosophies run counter to the acquisitive lifestyle of suburbia and signal a powerful shift in the consumer zeitgeist. Less is now more. The suburbs were poorly designed to begin with. While older suburbs were built on a different model, the modern-day American suburbs were designed in a way that went counter to thousands of years of planning theory.
The Industries of the Future by Alec Ross
23andMe, 3D printing, Airbnb, algorithmic trading, AltaVista, Anne Wojcicki, autonomous vehicles, banking crisis, barriers to entry, Bernie Madoff, bioinformatics, bitcoin, blockchain, Brian Krebs, British Empire, business intelligence, call centre, carbon footprint, cloud computing, collaborative consumption, connected car, corporate governance, Credit Default Swap, cryptocurrency, David Brooks, disintermediation, Dissolution of the Soviet Union, distributed ledger, Edward Glaeser, Edward Snowden, en.wikipedia.org, Erik Brynjolfsson, fiat currency, future of work, global supply chain, Google X / Alphabet X, industrial robot, Internet of things, invention of the printing press, Jaron Lanier, Jeff Bezos, job automation, knowledge economy, knowledge worker, litecoin, M-Pesa, Mark Zuckerberg, Mikhail Gorbachev, mobile money, money: store of value / unit of account / medium of exchange, new economy, offshore financial centre, open economy, peer-to-peer lending, personalized medicine, Peter Thiel, precision agriculture, pre–internet, RAND corporation, Ray Kurzweil, recommendation engine, ride hailing / ride sharing, Satoshi Nakamoto, self-driving car, sharing economy, Silicon Valley, Silicon Valley startup, Skype, smart cities, social graph, software as a service, special economic zone, supply-chain management, supply-chain management software, technoutopianism, underbanked, Vernor Vinge, Watson beat the top human players on Jeopardy!, women in the workforce, Y Combinator, young professional
With a valuation of $20 billion: Ingrid Lunden, “Airbnb Is Raising a Monster Round at a $20B Valuation,” TechCrunch, February 27, 2015, http://techcrunch.com/2015/02/27/airbnb-2/; “Hyatt Hotels Corporation (H),” Yahoo! Finance, http://finance.yahoo.com/q?s=H; “#1006 Brian Chesky,” “The World’s Billionaires,” Forbes, http://www.forbes.com/profile/brian-chesky/. At the conclusion of Chesky’s creation: Steven T. Jones, “Forum Begins to Bridge the Housing-Transportation Divide,” San Francisco Bay Guardian, October 10, 2014, http://www.sfbg.com/politics/2013/04/24/hype-reality-and-accountability-collaborative-consumption. At last measure, the estimated size: Sarah Cannon and Lawrence H. Summers, “How Uber and the Sharing Economy Can Win Over Regulators,” Harvard Business Review, October 13, 2014, https://hbr.org/2014/10/how-uber-and-the-sharing-economy-can-win-over-regulators/; TX Zhuo, “Airbnb and Uber Are Just the Beginning: What’s Next for the Sharing Economy,” Entrepreneur, March 25, 2015, http://www.entrepreneur.com/article/244192.
3D printing, Airbnb, Amazon Web Services, Andy Kessler, banking crisis, barriers to entry, bitcoin, blockchain, Burning Man, business climate, call centre, car-free, cloud computing, collaborative consumption, collaborative economy, collective bargaining, congestion charging, crowdsourcing, cryptocurrency, decarbonisation, don't be evil, Elon Musk, en.wikipedia.org, ethereum blockchain, Ferguson, Missouri, Firefox, frictionless, Gini coefficient, hive mind, income inequality, index fund, informal economy, Internet of things, Jane Jacobs, Jeff Bezos, jimmy wales, job satisfaction, Kickstarter, Lean Startup, Lyft, means of production, megacity, Minecraft, minimum viable product, Network effects, new economy, Oculus Rift, openstreetmap, optical character recognition, pattern recognition, peer-to-peer lending, Richard Stallman, ride hailing / ride sharing, Ronald Coase, Ronald Reagan, Satoshi Nakamoto, Search for Extraterrestrial Intelligence, self-driving car, shareholder value, sharing economy, Silicon Valley, six sigma, Skype, smart cities, smart grid, Snapchat, sovereign wealth fund, Steve Crocker, Steve Jobs, Steven Levy, TaskRabbit, The Death and Life of Great American Cities, The Nature of the Firm, transaction costs, Turing test, Uber and Lyft, Zipcar
What I failed to appreciate back then was the much larger movement made possible by the Internet. Zipcar was a trailblazer. When you can connect and share assets, people, and ideas, everything changes, not just how you rent a car. Google, eBay, Facebook, OKCupid, YouTube, Waze, Airbnb, WhatsApp, Duolingo—all are part of this transformation of capitalism. Web 2.0, the sharing economy, crowdsourcing, collaborative production, collaborative consumption, and network effects are simply terms we’ve created along the way in an effort to capture what is going on. Attributing all this to “the Internet” misses the building blocks and therefore the ability to replicate this type of activity in a more controlled way. There is one structure that underlies all these—excess capacity + a platform for participation + diverse peers—and it is fundamentally changing the way we work, build businesses, and shape economies.
Street Smart: The Rise of Cities and the Fall of Cars by Samuel I. Schwartz
2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, active transport: walking or cycling, Affordable Care Act / Obamacare, American Society of Civil Engineers: Report Card, autonomous vehicles, car-free, City Beautiful movement, collaborative consumption, congestion charging, crowdsourcing, desegregation, Enrique Peñalosa, Ford paid five dollars a day, Frederick Winslow Taylor, if you build it, they will come, intermodal, invention of the wheel, lake wobegon effect, Loma Prieta earthquake, Lyft, Masdar, megacity, meta analysis, meta-analysis, moral hazard, Nate Silver, oil shock, Productivity paradox, Ralph Nader, rent control, ride hailing / ride sharing, Rosa Parks, self-driving car, skinny streets, smart cities, smart grid, smart transportation, the built environment, the map is not the territory, transportation-network company, Uber and Lyft, Uber for X, Unsafe at Any Speed, urban decay, urban planning, urban renewal, walkable city, Wall-E, white flight, Works Progress Administration, Yogi Berra, Zipcar
Transportation Nation/WNYC.org, October 23, 2013. Blair, S. N., et al. “Physical Fitness and All-Cause Mortality: A Prospective Study of Healthy Men and Women.” Journal of the American Medical Association 262, no. 17 (November 1995): 2395–2401. Boarnet, M.G., et al. “Retrofitting the Suburbs to Increase Walking.” Urban Studies 48, no. 1 (2011): 129–159. Botsman, Rachel, and Roo Rogers. What’s Mine Is Yours: The Rise of Collaborative Consumption. New York, NY: HarperCollins, 2010. Branson-Potts, Hailey. “Making Pasadena’s Colorado Boulevard a Haven for Pedestrians.” Los Angeles Times, January 20, 2014. Bullard, Robert D. “Addressing Urban Transportation Equity in the United States.” Fordham Urban Law Journal 31, no. 5 (2003): 1183–1209. Bunn, F., T. Collier, C. Frost, et al. “Area-Wide Traffic-Calming for Preventing Traffic Related Injuries.”
3D printing, additive manufacturing, Albert Einstein, barriers to entry, borderless world, carbon footprint, centre right, collaborative consumption, collaborative economy, Community Supported Agriculture, corporate governance, decarbonisation, distributed generation, en.wikipedia.org, energy security, energy transition, global supply chain, hydrogen economy, income inequality, informal economy, invisible hand, Isaac Newton, job automation, knowledge economy, manufacturing employment, marginal employment, Martin Wolf, Masdar, megacity, Mikhail Gorbachev, new economy, oil shale / tar sands, oil shock, open borders, peak oil, Ponzi scheme, post-oil, purchasing power parity, Ray Kurzweil, Ronald Reagan, Silicon Valley, Simon Kuznets, Skype, smart grid, smart meter, Spread Networks laid a new fibre optics cable between New York and Chicago, supply-chain management, the market place, The Wealth of Nations by Adam Smith, Thomas Malthus, too big to fail, transaction costs, trickle-down economics, urban planning, urban renewal, Yom Kippur War, Zipcar
Retrieved from http://www.alexa.com/siteinfo/wikipedia.org. 20.3D printing: The Printed World [Editorial]. (2011, February 10). The Economist. Retrieved March 29, 2011, from http://www.economist.com/node/18114221?story_id=18114221. 21.Ibid. 22.Etsy Lets Artists Create a Living. (2008, July 1). Rare Bird, Inc. Retrieved from http://www.rarebirdinc.com/news/articles/etsy.html. 23.Botsman, R., & Rogers, R. (2010). From Generation Me to Generation We. In What’s Mine Is Yours: The Rise of Collaborative Consumption. New York: HarperBusiness, p. 49; Kalin, R. (2011, March 28). Etsy—Speaking Engagement Request [E-mail to the author]. 24.Microfinance and Financial Inclusion. (2010, December 19). Financial Times. Retrieved from http://www.ft.com/cms/s/0/cc076c20-0b99-11e0-a313-00144feabdc0.html#axzz1EoWZY7ga. 25.At a Glance, December, 2010. (n.d.). Grameen Shakti. Retrieved from http://www.gshakti.org/index.php?
3D printing, Airbnb, Asian financial crisis, bank run, banking crisis, barriers to entry, Basel III, battle of ideas, Berlin Wall, Big bang: deregulation of the City of London, Bretton Woods, BRICs, British Empire, business process, capital controls, Capital in the Twenty-First Century by Thomas Piketty, Carmen Reinhart, Celtic Tiger, central bank independence, centre right, cleantech, collaborative consumption, collapse of Lehman Brothers, collective bargaining, corporate governance, credit crunch, Credit Default Swap, crony capitalism, currency manipulation / currency intervention, currency peg, debt deflation, Diane Coyle, Downton Abbey, Edward Glaeser, Elon Musk, en.wikipedia.org, energy transition, eurozone crisis, fear of failure, financial deregulation, first-past-the-post, forward guidance, full employment, Gini coefficient, global supply chain, Growth in a Time of Debt, hiring and firing, hydraulic fracturing, Hyman Minsky, Hyperloop, immigration reform, income inequality, interest rate derivative, Irish property bubble, James Dyson, Jane Jacobs, job satisfaction, Joseph Schumpeter, Kenneth Rogoff, labour market flexibility, labour mobility, liquidity trap, margin call, Martin Wolf, mittelstand, moral hazard, mortgage debt, mortgage tax deduction, North Sea oil, Northern Rock, offshore financial centre, oil shale / tar sands, oil shock, open economy, price stability, private sector deleveraging, pushing on a string, quantitative easing, Richard Florida, rising living standards, risk-adjusted returns, Robert Gordon, savings glut, school vouchers, self-driving car, sharing economy, Silicon Valley, Silicon Valley startup, Skype, smart grid, smart meter, software patent, sovereign wealth fund, Steve Jobs, The Death and Life of Great American Cities, The Wealth of Nations by Adam Smith, too big to fail, total factor productivity, Tyler Cowen: Great Stagnation, working-age population, Zipcar
In France, La Machine du Voisin even allows people to rent out the use of their washing machine.555 Such peer-to-peer rental schemes make better use of an economy’s assets, provide extra income for their owners and are often cheaper and more convenient for borrowers. Just find somewhere nearby with your smartphone, check out the reviews and pay online: simple. Or at least it should be. Unfortunately, vested interests and bureaucratic regulation sometimes impede collaborative consumption. Taxes can be prohibitive. Amsterdam requires people to obtain a permit to rent out their place. Hotel groups lobby for their stringent health and safety regulations to be applied to private rentals: just think of the prohibitive cost and inconvenience of fitting a fire exit to your flat. In many cities, taxis operate legal cartels that are threatened by peer-to-peer cab services like Uber.
Inside the Nudge Unit: How Small Changes Can Make a Big Difference by David Halpern
Affordable Care Act / Obamacare, availability heuristic, carbon footprint, Cass Sunstein, centre right, choice architecture, cognitive dissonance, collaborative consumption, correlation does not imply causation, Daniel Kahneman / Amos Tversky, endowment effect, happiness index / gross national happiness, hindsight bias, illegal immigration, job satisfaction, Kickstarter, libertarian paternalism, market design, meta analysis, meta-analysis, Milgram experiment, nudge unit, peer-to-peer lending, pension reform, presumed consent, quantitative easing, randomized controlled trial, Richard Feynman, Richard Thaler, Ronald Reagan, Rory Sutherland, Simon Kuznets, skunkworks, the built environment, theory of mind, traffic fines, World Values Survey
School gates, as the internet social entrepreneur Tom Steinberg once observed, create a natural environment for parents to gather and get to know each other, and we should make this a virtue, not just an accident. Streets and buildings can be designed to create spaces where residents can pause and gather. Street parties can be made easy. Communities and activists can organise ‘neighbourhood directories’ of residents’ interests.30 Technology can lower the barriers to collaborative consumption so that we don’t all need to buy a ladder or a drill that we only use once a year. More importantly, it can lower the barriers and intrusiveness to helping our elderly neighbours, or even just organising a football kick-around for the kids on the street. The data suggest that our well-being is also boosted by access to the natural environment. This overlaps with, but is not the same as, the more well-rehearsed (and important) green agenda.