collaborative economy

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pages: 330 words: 91,805

Peers Inc: How People and Platforms Are Inventing the Collaborative Economy and Reinventing Capitalism by Robin Chase

Airbnb, Amazon Web Services, Andy Kessler, banking crisis, barriers to entry, basic income, Benevolent Dictator For Life (BDFL), bitcoin, blockchain, Burning Man, business climate, call centre, car-free, cloud computing, collaborative consumption, collaborative economy, collective bargaining, commoditize, congestion charging, creative destruction, crowdsourcing, cryptocurrency, decarbonisation, different worldview, do-ocracy, don't be evil, Elon Musk, en.wikipedia.org, Ethereum, ethereum blockchain, Ferguson, Missouri, Firefox, frictionless, Gini coefficient, hive mind, income inequality, independent contractor, index fund, informal economy, Intergovernmental Panel on Climate Change (IPCC), 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, peer-to-peer lending, peer-to-peer model, Post-Keynesian economics, 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 Future of Employment, The Nature of the Firm, Tragedy of the Commons, transaction costs, Turing test, turn-by-turn navigation, Uber and Lyft, uber lyft, Zipcar

It leverages the ability of individuals and small actors to experiment, adapt, iterate, and evolve. When done well, Peers Inc can create change at a pace, scale, and quality we previously thought impossible. Peers Inc is leading the transition from industrial capitalism to the collaborative economy. In this book I delve into the right-hand column and answer many questions surrounding the collaborative economy: • What is the economic underpinning behind this transformation? • What is the organizational structure that powers it? • What does it mean for employment and for how people find work and earn a living? • What miracles does this paradigm makes possible?

Dan Bieler, a principal analyst on Forrester Research’s Business Technology Futures team, writes that “rising customer expectations and faster product life cycles are forcing companies to adapt to a new style of business: ‘the collaborative economy.’ ” Bieler continues, “Collaboration not only connects customers, partners, and employees in the context of a single issue or incident; it can also be a massive driver of innovative new products, stronger business growth, and ultimately even improved social welfare. As a result, companies, industries, and entire economies that used to operate in silos will have to open themselves up and embrace the collaborative economy.”3 Dries Buytaert, the founder of Drupal, has observed that “society is undergoing tremendous change right now—the sharing and collaboration practices of the Internet are extending to transportation (Uber), hotels (Airbnb), financing (Kickstarter, Lending Club), and music services (Spotify).

This is how Peers Inc organizations started rewiring capitalism. Where the industrial economy concentrates power and wealth, the collaborative economy succeeds by distributing it. So for those in power, enjoying the fruits of the status quo, this change will be especially hard. The old guard will fight to protect what it has from an uncertain future. The industrial economy, its regulations, and its biggest companies will not transform overnight. But we will end up by going down the Peers Inc path—of that I have no doubt. Why? I have observed that in the new collaborative economy, where we are networked and resources are highly accessible, the following are almost always true.


pages: 375 words: 88,306

The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism by Arun Sundararajan

additive manufacturing, Airbnb, AltaVista, Amazon Mechanical Turk, autonomous vehicles, barriers to entry, basic income, bitcoin, blockchain, Burning Man, call centre, collaborative consumption, collaborative economy, collective bargaining, commoditize, corporate social responsibility, cryptocurrency, David Graeber, distributed ledger, employer provided health coverage, Erik Brynjolfsson, Ethereum, ethereum blockchain, Frank Levy and Richard Murnane: The New Division of Labor, future of work, George Akerlof, gig economy, housing crisis, Howard Rheingold, independent contractor, information asymmetry, Internet of things, inventory management, invisible hand, job automation, job-hopping, Kickstarter, knowledge worker, Kula ring, Lyft, Marc Andreessen, megacity, minimum wage unemployment, moral hazard, moral panic, Network effects, new economy, Oculus Rift, pattern recognition, peer-to-peer, peer-to-peer lending, peer-to-peer model, peer-to-peer rental, 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, Ross Ulbricht, 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, uber lyft, universal basic income, WeWork, Yochai Benkler, Zipcar

Francesca Pick, “What OuiShare Means to Me,” https://medium.com/ouishare-connecting-the-collaborative-economy/what-ouishare-means-to-me-4f275d9917f. 6. For Gorenflo’s description of Shareable, see http://shareable.net/about. The interview is available at http://www.collaborative-economy.com/project-updates/sharing-economy-with-neal-gorenflo-shareable. A summary is provided at http://www.shareable.net/blog/interviewed-shareables-neal-gorenflo-on-the-real-sharing-economy. 7. A collection of some of Owyang’s blog posts is available at “Quick Guide: The Collaborative Economy Body of Work for Corporations (updated June 2015),” http://www.web-strategist.com/blog/2013/08/22/table-of-contents-the-collaborative-economy. 8.

In the end, you will have to choose one or the other.”8 The inherent tension in making this choice is perhaps what leads to the disappointment Léonard refers to. It is also reminiscent of the sentiment expressed by the public intellectual Diana Fillipova in her 2014 essay, “The Mock Trial of the Collaborative Economy,” in which she noted: “Of course, as with technology, the problem is not the collaborative economy itself but, at least partly, the way we have been thinking about it and the unlimited hopes we were putting into it.”9 This discussion within OuiShare as well as at their Fest, mirrors both the evolving use of the term “sharing economy” and the nature of the exchange it is used to describe.

In other words, for each category there are gradients that draw attention to the specificity of various sharing economy activities. Owyang’s Collaborative Economy Honeycomb also clearly illustrates that as much as the sharing economy is being used to fuel pure sharing and micro-enterprises, larger corporations also embrace it. Today’s crowd-based capitalism appears to create new institutions for organizing economic activity that offer value for people across the economic spectrum both as consumers and producers. The same may be true for the new generation of decentralized peer-to-peer technologies that are the subject of our next chapter. Figure 3.3 Collaborative Economy Honeycomb. Notes 1. Thomas W.


pages: 565 words: 151,129

The Zero Marginal Cost Society: The Internet of Things, the Collaborative Commons, and the Eclipse of Capitalism by Jeremy Rifkin

"Robert Solow", 3D printing, active measures, 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 Numeric Control, computer vision, crowdsourcing, demographic transition, distributed generation, en.wikipedia.org, Frederick Winslow Taylor, Garrett Hardin, global supply chain, global village, Hacker Conference 1984, Hacker Ethic, industrial robot, informal economy, Intergovernmental Panel on Climate Change (IPCC), intermodal, Internet of things, invisible hand, Isaac Newton, James Watt: steam engine, job automation, John Markoff, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, Julian Assange, Kickstarter, knowledge worker, longitudinal study, Mahatma Gandhi, manufacturing employment, Mark Zuckerberg, market design, mass immigration, means of production, meta-analysis, natural language processing, new economy, New Urbanism, nuclear winter, Occupy movement, off grid, oil shale / tar sands, pattern recognition, peer-to-peer, peer-to-peer lending, personalized medicine, phenotype, planetary scale, price discrimination, profit motive, QR code, 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, Tragedy of the Commons, transaction costs, urban planning, Watson beat the top human players on Jeopardy!, web application, Whole Earth Catalog, Whole Earth Review, WikiLeaks, working poor, Yochai Benkler, zero-sum game, Zipcar

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.

In the Collaborative Age, learning is regarded as a crowdsourcing process and knowledge is treated as a publically shared good, available to all, mirroring the emerging definition of human behavior as deeply social and interactive in nature. The shift from a more authoritarian style of learning to a more lateral learning environment better prepares today’s students to work, live, and flourish in tomorrow’s collaborative economy. The new collaborative pedagogy is being applied and practiced in schools and communities around the world. The educational models are designed to free students from the private space of the traditional enclosed classroom and allow them to learn in multiple open Commons, in virtual space, the public square, and in the biosphere.

Reducing addictive consumption, optimizing frugality, and fostering a more sustainable way of life is not only laudable, but essential if we are to ensure our survival. But even here, there are winners and losers. The still-dominant capitalist system believes it can find value in the collaborative economy by leveraging aspects of the sharing culture toward new revenue-generating streams. Still, whatever profit it can squeeze out of the growing networked Commons will pale in comparison to the ground it loses. Although hotels will continue to book, they are already seeing their markets decline as millions of young people migrate to Airbnb and Couchsurfing.


pages: 188 words: 9,226

Collaborative Futures by Mike Linksvayer, Michael Mandiberg, Mushon Zer-Aviv

4chan, AGPL, Benjamin Mako Hill, British Empire, citizen journalism, cloud computing, collaborative economy, corporate governance, crowdsourcing, Debian, en.wikipedia.org, Firefox, informal economy, jimmy wales, Kickstarter, late capitalism, loose coupling, Marshall McLuhan, means of production, Naomi Klein, Network effects, optical character recognition, packet switching, postnationalism / post nation state, prediction markets, Richard Stallman, semantic web, Silicon Valley, slashdot, Slavoj Žižek, stealth mode startup, technoutopianism, The future is already here, the medium is the message, The Wisdom of Crowds, web application, WikiLeaks, Yochai Benkler

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pages: 343 words: 91,080

Uberland: How Algorithms Are Rewriting the Rules of Work by Alex Rosenblat

"side hustle", Affordable Care Act / Obamacare, Airbnb, Amazon Mechanical Turk, autonomous vehicles, barriers to entry, basic income, big-box store, call centre, cashless society, Cass Sunstein, choice architecture, collaborative economy, collective bargaining, creative destruction, crowdsourcing, disinformation, disruptive innovation, don't be evil, Donald Trump, en.wikipedia.org, future of work, gender pay gap, gig economy, Google Chrome, income inequality, independent contractor, information asymmetry, Jaron Lanier, job automation, job satisfaction, Lyft, marginal employment, Mark Zuckerberg, move fast and break things, Network effects, new economy, obamacare, performance metric, Peter Thiel, price discrimination, Ralph Waldo Emerson, regulatory arbitrage, ride hailing / ride sharing, self-driving car, sharing economy, Silicon Valley, Silicon Valley ideology, Skype, social software, stealth mode startup, Steve Jobs, strikebreaker, TaskRabbit, Tim Cook: Apple, transportation-network company, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, union organizing, universal basic income, urban planning, Wolfgang Streeck, Yochai Benkler, Zipcar

Jack, “Imagining the Sharing Economy.” 19. Robin Chase, “Bye, Bye Capitalism: We’re Entering the Age of Abundance,” Backchannel, July 16, 2015, https://medium.com/backchannel/see-ya-later-capitalism-the-collaborative-economy-is-taking-over-34a5fc3a37cd. Robin Chase is also the author of Peers, Inc., a book on the sharing economy. 20. Srnicek’s work traces platform capitalism’s development through economic boom-and-bust cycles and its reemergence as the collaborative economy today. 21. Nick Srnicek, Platform Capitalism (Cambridge, UK: Polity, 2016). 22. Jay Shambaugh and Ryan Nunn, “Why Wages Aren’t Growing in America,” Harvard Business Review, October 24, 2017, https://hbr.org/2017/10/why-wages-arent-growing-in-america. 23.

Technology could connect those who possessed underutilized assets, skills, or time with potential consumers, a form of commerce that reduced the costs of ownership and more efficiently distributed goods and services.17 For struggling millennials displaced by the recession, this new model provided a hopeful new paradigm for earning income. As Robin Chase, cofounder of the car-sharing service Zipcar,18 wrote in 2015, “In the new collaborative economy, sharing and networking assets, like platforms, car seats and bedrooms, will always deliver more value faster.”19 Critics, like scholar Nick Srnicek, countered the idea that the sharing economy was anything novel, branding it as a mere reiteration of the platform capitalism of the 1970s.20 Arguing that platform capitalism will hasten the end of work, Srnicek advocates a future of different possibilities.21 Meanwhile, culture scholar-activist Trebor Scholz sees platform cooperativism as a viable way of redistributing corporate profits of platforms like Uber to workers.

Sara Ashley O’Brien, “Airbnb’s Valuation Soars to $30 Billion,” CNN Tech, August 8, 2016, http://money.cnn.com/2016/08/08/technology/airbnb-30-billion-valuation/index.html. 37. Vili Lehdonvirta, “The Online Gig Economy Grew 26% over the Past Year,” iLabour Project, July 10, 2017, http://ilabour.oii.ox.ac.uk/the-online-gig-economy-grew-26-over-the-past-year/. 38. The terms ascribed to the sharing economy also include the peer-to-peer economy, the collaborative economy, and others. 39. Uber Under the Hood, “Uber Partners with NAACP to Increase Flexible Work Opportunities,” January 5, 2016, https://medium.com/uber-under-the-hood/uber-partners-with-naacp-to-increase-flexible-work-opportunities-78cfc51695b3. 40. Uber, “Uber | MADD,” www.uber.com/partner/madd/. 41.


pages: 237 words: 67,154

Ours to Hack and to Own: The Rise of Platform Cooperativism, a New Vision for the Future of Work and a Fairer Internet by Trebor Scholz, Nathan Schneider

1960s counterculture, activist fund / activist shareholder / activist investor, Airbnb, Amazon Mechanical Turk, barriers to entry, basic income, bitcoin, blockchain, Build a better mousetrap, Burning Man, capital controls, citizen journalism, collaborative economy, collaborative editing, collective bargaining, commoditize, conceptual framework, crowdsourcing, cryptocurrency, Debian, deskilling, disintermediation, distributed ledger, Ethereum, ethereum blockchain, future of work, gig economy, Google bus, hiring and firing, income inequality, independent contractor, information asymmetry, Internet of things, Jacob Appelbaum, Jeff Bezos, job automation, Julian Assange, Kickstarter, lake wobegon effect, low skilled workers, Lyft, Mark Zuckerberg, means of production, minimum viable product, moral hazard, Network effects, new economy, offshore financial centre, openstreetmap, peer-to-peer, post-work, profit maximization, race to the bottom, ride hailing / ride sharing, SETI@home, shareholder value, sharing economy, Shoshana Zuboff, Silicon Valley, smart cities, smart contracts, Snapchat, surveillance capitalism, TaskRabbit, technoutopianism, transaction costs, Travis Kalanick, Uber for X, uber lyft, union organizing, universal basic income, Whole Earth Catalog, WikiLeaks, women in the workforce, Yochai Benkler, Zipcar

Our bylaws also dictate that all profits are to be reinvested into the company. Coliga is the latest project of people behind Apoio, a self-organized community cleaning service, and Agora Collective, a leading creative space in Berlin. We’re part of the OuiShare community and won a 2015 OuiShare award in the category of collaborative economy. We also belong to Rooted Internet, which invests in purpose-driven companies. In the coming years we are going to build a diverse global community of like-minded peers to enable new forms of collaboration and resource sharing among networks. Project Name: CommunityOS: Callicoon Project Completed by: Ashley Taylor Location: Bushwick, Brooklyn, New York URL: futureculture.how/community-os-callicoon-project CommunityOS is a layer in the blockchain operating system.

Barcelona then provided these companies the possibility to negotiate 80 percent of the penalty if they allow the Social Emergency Housing Consortium to allocate empty apartments to residents with subsidized rent for three years. The city has called for a popular assembly for responsible tourism where citizens can discuss best practices and business models. The new government is also promoting new policies to foster a collaborative economy that generates social benefits locally. Besides these types of initiatives, Ada Colau has also promised a shift toward re-municipalization of infrastructure and public services. This is grounded in a very critical understanding of the neoliberal, surveillance-driven “smart city” model being promoted by big tech corporations.

In 2014, he was research director of the FLOK Society project, which produced the first integrated Commons Transition Plan for the government of Ecuador. His recent books are Save the World: Towards a Post Capitalist Society with P2P (with Jean Lievens, in French and Dutch); and Network Society and Future Scenarios for a Collaborative Economy (with Vasilis Kostakis; Palgrave Macmillan, 2014). Yochai Benkler is the Berkman Professor of Entrepreneurial Legal Studies at Harvard Law School, and faculty co-director of the Berkman Center for Internet and Society at Harvard University. Since the 1990s, he has played a role in characterizing the role of information commons and decentralized collaboration to innovation, information production, and freedom in the networked economy and society.


pages: 491 words: 77,650

Humans as a Service: The Promise and Perils of Work in the Gig Economy by Jeremias Prassl

3D printing, Affordable Care Act / Obamacare, Airbnb, Amazon Mechanical Turk, Andrei Shleifer, autonomous vehicles, barriers to entry, call centre, cashless society, Clayton Christensen, collaborative consumption, collaborative economy, collective bargaining, creative destruction, crowdsourcing, disruptive innovation, Donald Trump, Erik Brynjolfsson, full employment, future of work, George Akerlof, gig economy, global supply chain, hiring and firing, income inequality, independent contractor, information asymmetry, invisible hand, Jeff Bezos, job automation, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, Kickstarter, low skilled workers, Lyft, Mahatma Gandhi, Mark Zuckerberg, market friction, means of production, moral hazard, Network effects, new economy, obamacare, pattern recognition, platform as a service, Productivity paradox, race to the bottom, regulatory arbitrage, remote working, ride hailing / ride sharing, Robert Gordon, Ronald Coase, Rosa Parks, Second Machine Age, secular stagnation, self-driving car, shareholder value, sharing economy, Silicon Valley, Silicon Valley ideology, Simon Singh, software as a service, Steve Jobs, TaskRabbit, The Future of Employment, The Market for Lemons, The Nature of the Firm, The Rise and Fall of American Growth, transaction costs, transportation-network company, Travis Kalanick, two tier labour market, two-sided market, Uber and Lyft, Uber for X, uber lyft, union organizing, working-age population

Writing in the New York Times, Natasha Singer expresses her problems with the industry’s twisting of language, from ‘sharing’ and ‘peer’, to the ‘people’ and ‘collaborative’ economy. What she objects to ‘is the terminology itself and how it frames technology-enabled transactions as if they were altruistic or community endeavors’.42 Sarah O’Connor at the Financial Times agrees: If there is one phrase that makes me wince more than the ‘sharing economy’ it is the ‘collaborative economy’ . . . What exactly is being shared here? Who is collaborating with whom? Freelancers on Upwork are no more sharing their skills with the world than I am sharing mine with the Financial Times.43 This is not to say that a few smaller platforms—including France’s BlaBlaCar, which coordinates intercity car journeys and pegs drivers’ earnings to esti- mated fuel consumption,44 or Canada’s BlancRide, which connects urban commuters45—have not experimented with genuine peer-to-peer services designed to cover costs, rather than to return significant profits.

In Texas, legislation stipulates that a TNC ‘does not control, direct, or manage’ its drivers, thus denying a key element in * * * 48 Doublespeak most employment law tests,64 and in North Carolina, a ‘rebuttable presump- tion exists that a TNC driver is an independent contractor and not an employee’.65 Similar lobbying efforts are by no means limited to the United States. A European Agenda for the Collaborative Economy, published by the European Commission in the summer of 2016, seemed to echo many of the industry’s positions. The non-binding guidance issued to the then 28 EU member states stopped short of denying sharing-economy workers’ employment sta- tus, but suggested that only platforms that controlled the price of services, set contractual terms, and owned ‘key assets used to provide the underlying service’ should be classified as service providers.66 Even those uncomfortable with the legislative classification of gig- economy workers as independent contractors eschew employment status.

North Carolina, General Assembly Session 2015, Session Law 2015–237, Senate Bill 541, §1, 5. 66. European Commission, Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions: A European Agenda for the Collaborative Economy (COM (2016) 356 final), 6, 11–13. The Advocate General of the Court of Justice of the European Union (CJEU) disagreed: Case C-434/15 Asóciacion Profesional Elite Taxi v Uber Systems Spain SL (Opinion of AG Szpunar, 11 May 2017). My initial analysis can be found at Jeremias Prassl, ‘Uber: the future of work . . . or just another taxi company?’


pages: 116 words: 31,356

Platform Capitalism by Nick Srnicek

3D printing, additive manufacturing, Airbnb, Amazon Mechanical Turk, Amazon Web Services, Capital in the Twenty-First Century by Thomas Piketty, cloud computing, collaborative economy, collective bargaining, deindustrialization, deskilling, disintermediation, future of work, gig economy, independent contractor, Infrastructure as a Service, Internet of things, Jean Tirole, Jeff Bezos, knowledge economy, knowledge worker, liquidity trap, low skilled workers, Lyft, Mark Zuckerberg, means of production, mittelstand, multi-sided market, natural language processing, Network effects, new economy, Oculus Rift, offshore financial centre, pattern recognition, platform as a service, quantitative easing, RFID, ride hailing / ride sharing, Robert Gordon, self-driving car, sharing economy, Shoshana Zuboff, Silicon Valley, Silicon Valley startup, software as a service, surveillance capitalism, TaskRabbit, the built environment, total factor productivity, two-sided market, Uber and Lyft, Uber for X, uber lyft, unconventional monetary instruments, unorthodox policies, Zipcar

The Week, 22 January. http://theweek.com/articles/600523/rich-people-have-nowhere-money-serious-problem (accessed 4 June 2016). Srnicek, Nick, and Alex Williams. 2015. Inventing the Future: Postcapitalism and a World without Work. London: Verso. Stokes, Kathleen, Emma Clarence, Lauren Anderson, and April Rinne. 2014. Making Sense of the UK Collaborative Economy. London: Nesta. https://www.nesta.org.uk/sites/default/files/making_sense_of_the_uk_collaborative_economy_14.pdf (accessed 4 June 2016). Stucke, Maurice, and Allen Grunes. 2016. Big Data and Competition Policy. Oxford: Oxford University Press. Taylor, Edward. 2016. ‘Amazon, Microsoft Look for Big Data Role in Self-Driving Cars’. Reuters, 1 April. http://www.reuters.com/article/us-automakers-here-amazon-idUSKCN0WX2D8 (accessed 4 June 2016).


pages: 443 words: 112,800

The Third Industrial Revolution: How Lateral Power Is Transforming Energy, the Economy, and the World by Jeremy Rifkin

"Robert Solow", 3D printing, additive manufacturing, Albert Einstein, American ideology, 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, industrial cluster, informal economy, Intergovernmental Panel on Climate Change (IPCC), invisible hand, Isaac Newton, job automation, knowledge economy, manufacturing employment, marginal employment, Martin Wolf, Masdar, megacity, Mikhail Gorbachev, new economy, off grid, oil shale / tar sands, oil shock, open borders, peak oil, Ponzi scheme, post-oil, purchasing power parity, Ray Kurzweil, Ronald Reagan, scientific worldview, 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

While there is no denying that the living standards of millions of people is better at the end of the Second Industrial Revolution than at the beginning of the First Industrial Revolution, it is equally true that those on the top have benefited disproportionately from the Carbon Era, especially in the United States, where few restrictions have been put on the market and little effort made to ensure that the fruits of industrial commerce are broadly shared. THE COLLABORATIVE ECONOMY The emerging Third Industrial Revolution, by contrast, is organized around distributed renewable energies that are found everywhere and are, for the most part, free—sun, wind, hydro, geothermal heat, biomass, and ocean waves and tides. These dispersed energies will be collected at millions of local sites and then bundled and shared with others over intelligent power networks to achieve optimum energy levels and maintain a high-performing, sustainable economy.

For example, the right to navigate rivers, forage in local forests, walk on country lanes, fish in nearby streams, and congregate on the public square. This older idea of property as the right of access and inclusion was increasingly shunted aside in the modern era as market relations came to dominate life and private property came to define the “measure of a man.” In a distributed and collaborative economy, however, the right of access to global social networks becomes as important as the right to hold on to private property in national markets. That’s because quality-of-life values become more important, especially the pursuit of social inclusion with millions of others in global communities in virtual space.

Rethinking the framing concepts that govern education and the pedagogy that accompanies them will not be easy. Teachers around the world are only just now beginning to restructure the educational experience to make it relevant to young people who will need to learn how to live in a distributed and collaborative economy tucked inside a biosphere world. CHAPTER EIGHT A CLASSROOM MAKEOVER I was backstage, fidgeting with my five small note cards, thinking over the key points I wanted to emphasize in my talk. I peeked through the curtain and saw 1,600 high school teachers and state and federal education officials sitting in the audience—and not just any teachers, Advanced Placement teachers, the best high school teachers in America and the ones responsible for preparing the brightest students for college.


pages: 457 words: 128,838

The Age of Cryptocurrency: How Bitcoin and Digital Money Are Challenging the Global Economic Order by Paul Vigna, Michael J. Casey

Airbnb, altcoin, bank run, banking crisis, bitcoin, Bitcoin Ponzi scheme, blockchain, Bretton Woods, buy and hold, California gold rush, capital controls, carbon footprint, clean water, collaborative economy, collapse of Lehman Brothers, Columbine, Credit Default Swap, cryptocurrency, David Graeber, disinformation, disintermediation, Dogecoin, Edward Snowden, Elon Musk, Ethereum, ethereum blockchain, fiat currency, financial innovation, Firefox, Flash crash, Fractional reserve banking, hacker house, Hernando de Soto, high net worth, informal economy, intangible asset, Internet of things, inventory management, Joi Ito, Julian Assange, Kickstarter, Kuwabatake Sanjuro: assassination market, litecoin, Long Term Capital Management, Lyft, M-Pesa, Marc Andreessen, Mark Zuckerberg, McMansion, means of production, Menlo Park, mobile money, Money creation, money: store of value / unit of account / medium of exchange, Nelson Mandela, Network effects, new economy, new new economy, Nixon shock, Nixon triggered the end of the Bretton Woods system, offshore financial centre, payday loans, Pearl River Delta, peer-to-peer, peer-to-peer lending, pets.com, Ponzi scheme, prediction markets, price stability, profit motive, QR code, RAND corporation, regulatory arbitrage, rent-seeking, reserve currency, Robert Shiller, Robert Shiller, Ross Ulbricht, Satoshi Nakamoto, seigniorage, shareholder value, sharing economy, short selling, Silicon Valley, Silicon Valley startup, Skype, smart contracts, special drawing rights, Spread Networks laid a new fibre optics cable between New York and Chicago, Steve Jobs, supply-chain management, Ted Nelson, The Great Moderation, the market place, the payments system, The Wealth of Nations by Adam Smith, too big to fail, transaction costs, tulip mania, Turing complete, Tyler Cowen: Great Stagnation, Uber and Lyft, uber lyft, underbanked, WikiLeaks, Y Combinator, Y2K, zero-sum game, Zimmermann PGP

People have figured out that if they have idle assets, they can lend them to people who need them, while those people have in turn equally realized that they don’t need to go through expensive central distribution points to find those assets. This new system is called several things: the sharing economy, the mesh economy, the collaborative economy. Got some extra computing power sitting on your desktop? Share it with those who need it. Got a car sitting idle in your driveway? Share that. Got a big idea? Share it online and raise the money online to fund it. Business symbols of this era so far include the personal-apartment rental site Airbnb, the crowdfunding site Kickstarter, the peer-to-peer lending network Lending Club, and the taxi services controlled by individual car owners Uber and Lyft.

These new payment mechanisms, while technologically advanced, are still trapped in the five-hundred-year-old model of centralized financial management. That may not matter one iota to the average person using them, whose ambivalence could be enough to ensure that sovereign money survives, even as the collaborative economy of the future continues its drive toward individual empowerment in all other realms of the economy. But its survival would be inherently inconsistent with all the other sweeping, decentralizing shifts under way. It’s hard to get away from the idea that these trends point inevitably to an age of cryptocurrency, if not immediately, then a decade or so in the future.

From Silicon Valley, the impression is that human society is now ready to throw out the centralized system altogether and embrace a decentralized model run by “the crowd.” “Now the crowd has their own business model,” says Jeremiah Owyang, the founder of the consulting service Crowd Companies. Offering a broad definition of the collaborative economy that encompasses everything from barter to lending to gifting, Owyang suggests that the entire human populace is now taking charge of the means of production and changing the rules of the game. “They’re making their own freaking currencies, for God’s sake,” Owyang adds emphatically. But beyond these catchphrases, the picture is more nuanced.


pages: 330 words: 99,044

Reimagining Capitalism in a World on Fire by Rebecca Henderson

Airbnb, asset allocation, Berlin Wall, Bernie Sanders, business climate, Capital in the Twenty-First Century by Thomas Piketty, carbon footprint, collaborative economy, collective bargaining, commoditize, corporate governance, corporate social responsibility, crony capitalism, dark matter, decarbonisation, disruptive innovation, double entry bookkeeping, Elon Musk, Erik Brynjolfsson, Exxon Valdez, Fall of the Berlin Wall, family office, fixed income, George Akerlof, Gini coefficient, global supply chain, greed is good, Hans Rosling, Howard Zinn, Hyman Minsky, impact investing, income inequality, independent contractor, index fund, Intergovernmental Panel on Climate Change (IPCC), joint-stock company, Kickstarter, Lyft, Mark Zuckerberg, means of production, meta-analysis, microcredit, mittelstand, Mont Pelerin Society, Nelson Mandela, passive investing, Paul Samuelson, Philip Mirowski, profit maximization, race to the bottom, ride hailing / ride sharing, Ronald Reagan, Rosa Parks, Second Machine Age, shareholder value, sharing economy, Silicon Valley, Snapchat, sovereign wealth fund, Steven Pinker, stocks for the long run, Tim Cook: Apple, total factor productivity, Toyota Production System, uber lyft, urban planning, Washington Consensus, WeWork, working-age population, Zipcar

Robin Chase founded Zipcar—a car sharing service—in 2000, nearly twenty years ago, years before the rest of us discovered the sharing economy. She saw Zipcar as part of a much larger vision for how the economy might be transformed. In one interview she explained: The collaborative economy is larger than the sharing economy. The sharing economy feels to me like it’s about assets. The collaborative economy is everything. It’s making clear and visceral to us that, if I can have real-time access not just to hard assets, but to people, to networks, to experiences, it means that the way I do my own personal life is completely transformed.

We’re trying to initiate a virtuous circle, where the loans we make act as demonstration projects and there are spillover effects—so other people come into the space. We’re looking for trust—so we try not to be a typical bank that’s always out to make the best deal for itself. Clients come to us because we are a hub. We’re building a whole new set of skills in support of a much more collaborative economy. In summary, Triodos Bank is pursuing a classically purpose-driven strategy, using its focus on the broader community to catalyze the kind of architectural innovation that can change the whole system. The sixty-four thousand dollar question is whether these kinds of investors—investors who value the well-being of the planet over squeezing the maximum possible returns from their money—are a fringe group operating at the margins or the wave of the future.


pages: 292 words: 85,151

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, Ben Horowitz, bioinformatics, bitcoin, Black Swan, blockchain, Burning Man, business intelligence, business process, call centre, chief data officer, Chris Wanstrath, Clayton Christensen, clean water, cloud computing, cognitive bias, collaborative consumption, collaborative economy, commoditize, corporate social responsibility, cross-subsidies, crowdsourcing, cryptocurrency, dark matter, Dean Kamen, dematerialisation, discounted cash flows, disruptive innovation, distributed ledger, Edward Snowden, Elon Musk, en.wikipedia.org, Ethereum, ethereum blockchain, game design, Google Glasses, Google Hangouts, Google X / Alphabet X, gravity well, hiring and firing, Hyperloop, industrial robot, Innovator's Dilemma, intangible asset, Internet of things, Iridium satellite, Isaac Newton, Jeff Bezos, Joi Ito, Kevin Kelly, Kickstarter, knowledge worker, Kodak vs Instagram, Law of Accelerating Returns, Lean Startup, life extension, lifelogging, loose coupling, loss aversion, low earth orbit, Lyft, Marc Andreessen, Mark Zuckerberg, market design, means of production, minimum viable product, natural language processing, Netflix Prize, NetJets, Network effects, new economy, Oculus Rift, offshore financial centre, PageRank, pattern recognition, Paul Graham, paypal mafia, peer-to-peer, peer-to-peer model, 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, Travis Kalanick, Tyler Cowen: Great Stagnation, uber lyft, urban planning, WikiLeaks, winner-take-all economy, X Prize, Y Combinator, zero-sum game

According to Owyang, Crowd Companies is a “brand council” whose activities include introductions, educational forums and networking with relevant startups, many of which are ExOs. Several dozen major brands have already joined the group, and Owyang believes that as this new breed of companies leveraging crowd dynamics spreads out across the world, they will in turn spark what he calls a Collaborative Economy (outlined below). Owyang has identified seventy-five crowd-based startups operating in six vertical markets. Lisa Gansky’s Mesh Labs takes this model to a much more granular level, listing nine thousand crowd-based startups in twenty-five categories. Such adoption of social media is not a fad.

Owyang isn’t alone in his thinking: Shel Israel, co-author of the book Age of Context: Mobile, Sensors, Data and the Future of Privacy, noted recently that there have been many such labels attached to this new movement: the Sharing Economy, the Mesh Economy, Collaborative Consumption and the Collaborative Economy. We actually think Exponential Organizations works quite well as a label. But whatever the ultimate designation, it is clear that ExO attributes can and are being implemented by large organizations. In fact, as we wrote this book we were surprised to see how fast that implementation is occurring.


pages: 366 words: 94,209

Throwing Rocks at the Google Bus: How Growth Became the Enemy of Prosperity by Douglas Rushkoff

activist fund / activist shareholder / activist investor, Airbnb, algorithmic trading, Amazon Mechanical Turk, Andrew Keen, bank run, banking crisis, barriers to entry, bitcoin, blockchain, Burning Man, business process, buy and hold, buy low sell high, California gold rush, Capital in the Twenty-First Century by Thomas Piketty, carbon footprint, centralized clearinghouse, citizen journalism, clean water, cloud computing, collaborative economy, collective bargaining, colonial exploitation, Community Supported Agriculture, corporate personhood, corporate raider, creative destruction, crowdsourcing, cryptocurrency, disintermediation, diversified portfolio, Elon Musk, Erik Brynjolfsson, Ethereum, ethereum blockchain, fiat currency, Firefox, Flash crash, full employment, future of work, Garrett Hardin, gig economy, Gini coefficient, global supply chain, global village, Google bus, Howard Rheingold, IBM and the Holocaust, impulse control, income inequality, independent contractor, index fund, iterative process, Jaron Lanier, Jeff Bezos, jimmy wales, job automation, Joseph Schumpeter, Kickstarter, loss aversion, Lyft, Marc Andreessen, Mark Zuckerberg, market bubble, market fundamentalism, Marshall McLuhan, means of production, medical bankruptcy, minimum viable product, Mitch Kapor, Naomi Klein, Network effects, new economy, Norbert Wiener, Oculus Rift, passive investing, payday loans, peer-to-peer lending, Peter Thiel, post-industrial society, profit motive, quantitative easing, race to the bottom, recommendation engine, reserve currency, RFID, Richard Stallman, ride hailing / ride sharing, Ronald Reagan, Satoshi Nakamoto, Second Machine Age, shareholder value, sharing economy, Silicon Valley, Snapchat, social graph, software patent, Steve Jobs, TaskRabbit, The Future of Employment, trade route, Tragedy of the Commons, transportation-network company, Turing test, Uber and Lyft, Uber for X, uber lyft, unpaid internship, Y Combinator, young professional, zero-sum game, Zipcar

Fairnopoly Team, “Dein Anteil,” info.fairmondo.de, May 14, 2012. 94. “Projekt10000—Gemeinsam unsere Wirtschaft verändern,” mitmachen.fairmondo.de/projekt10000/. 95. Felix Weth, “Genossenschaft 2.0,” info.fairmondo.de, February 12, 2013. 96. Vasilis Kostakis and Michel Bauwens, Network Society and Future Scenarios for a Collaborative Economy (London: Palgrave Macmillan, 2014). A draft is available at p2pfoundation.net, December 30, 2014. 97. Amanda B. Johnson, “La’Zooz: The Decentralized Proof-of-Movement ‘Uber’ Unveiled,” cointelegraph.com, October 19, 2014. 98. Trebor Scholz, “Platform Cooperativism vs. the Sharing Economy,” medium.com, December 5, 2014.

Kepos, Paula. International Directory of Company Histories, vol. 7. Farmington Hills, Mich.: St. James Press, 1993. Klein, Naomi. This Changes Everything: Capitalism vs. the Climate. New York: Simon and Schuster, 2014. Kostakis, Vasilis, and Michel Bauwens. Network Society and Future Scenarios for a Collaborative Economy. London: Palgrave Macmillan, 2014. Lanier, Jaron. Who Owns the Future? New York: Simon and Schuster, 2013. Lewis, Michael. The Big Short: Inside the Doomsday Machine. New York, London: W. W. Norton, 2011. Lietaer, Bernard A., and Stephen M. Belgin. Of Human Wealth: Beyond Greed & Scarcity.


pages: 400 words: 88,647

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, Computer Numeric Control, connected car, corporate social responsibility, creative destruction, crowdsourcing, disruptive innovation, Elon Musk, financial exclusion, financial innovation, global supply chain, IKEA effect, income inequality, industrial robot, intangible asset, Internet of things, job satisfaction, Khan Academy, Kickstarter, late fees, Lean Startup, low cost airline, 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, 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, standardized shipping container, Steve Jobs, supply-chain management, TaskRabbit, The Fortune at the Bottom of the Pyramid, The Nature of the Firm, transaction costs, Travis Kalanick, unbanked and underbanked, underbanked, women in the workforce, X Prize, yield management, Zipcar

Some 80 million Americans (around one-quarter of the US population) and 23 million Britons (nearly one-third of the population) consider themselves sharers; and in France 48% consider themselves to be active participants in the collaborative economy. US and European customers, across the generations, are sharing and collaborating more than ever to get the products, services, knowledge or capital they want, faster, better and cheaper than from traditional sources. The collaboration economy also gives consumers a more meaningful social experience. While baby-boomers and their offspring may view it as a cost-effective and convivial alternative to the brand-dominated mass-market economy, later generations see collaboration as the only way to consume.


pages: 326 words: 91,559

Everything for Everyone: The Radical Tradition That Is Shaping the Next Economy by Nathan Schneider

1960s counterculture, Affordable Care Act / Obamacare, Airbnb, altcoin, Amazon Mechanical Turk, back-to-the-land, basic income, Berlin Wall, Bernie Sanders, bitcoin, blockchain, Brewster Kahle, Burning Man, Capital in the Twenty-First Century by Thomas Piketty, carbon footprint, Clayton Christensen, collaborative economy, collective bargaining, Community Supported Agriculture, corporate governance, creative destruction, crowdsourcing, cryptocurrency, Debian, disruptive innovation, do-ocracy, Donald Knuth, Donald Trump, Edward Snowden, Elon Musk, Ethereum, ethereum blockchain, Food sovereignty, four colour theorem, future of work, gig economy, Google bus, hydraulic fracturing, Internet Archive, Jeff Bezos, jimmy wales, joint-stock company, Joseph Schumpeter, Julian Assange, Kickstarter, Lyft, M-Pesa, Marc Andreessen, Mark Zuckerberg, Marshall McLuhan, mass immigration, means of production, Money creation, multi-sided market, new economy, offshore financial centre, old-boy network, Peter H. Diamandis: Planetary Resources, Pier Paolo Pasolini, post-work, precariat, premature optimization, pre–internet, profit motive, race to the bottom, Richard Florida, Richard Stallman, ride hailing / ride sharing, Sam Altman, Satoshi Nakamoto, self-driving car, shareholder value, sharing economy, Silicon Valley, Slavoj Žižek, smart contracts, Steve Bannon, Steve Jobs, Steve Wozniak, Stewart Brand, surveillance capitalism, transaction costs, Turing test, Uber and Lyft, uber lyft, underbanked, undersea cable, universal basic income, Upton Sinclair, Vanguard fund, white flight, Whole Earth Catalog, WikiLeaks, women in the workforce, working poor, Y Combinator, Y2K, Zipcar

About a century later in Italy, Benedict of Nursia went further in his rule, stipulating, “As often as anything important is to be done in the monastery, the abbot shall call the whole community together,” discussing the matter with everyone before making a decision.10 The Rule of St. Benedict prescribes election of the abbot by the community and expects the community to support itself through shared businesses. Both rules emphasize obedience to the abbot or abbess over democratic deliberation. But they also enjoin an egalitarian spirit and a collaborative economy. The spirit of Acts returned in force during the thirteenth-century mendicant movement, when barefoot preachers spread across Europe, contrasting their poverty with the lavish lifestyles among church officials and in wealthy monasteries. Clare of Assisi, Francis of Assisi’s friend and colleague, enshrined in her rule for Franciscan sisters a particular measure of countercultural self-governance.

For more on such open accounting, see Michel Bauwens and Vasilis Niaros, Value in the Commons Economy: Developments in Open and Contributory Value Accounting (Heinrich-Böll-Foundation and P2P Foundation, 2017); this is tied, also, with the vision of “open cooperativism”: Michel Bauwens, “Open Cooperativism for the P2P Age,” P2P Foundation blog (June 16, 2014). 4. See Vasilis Kostakis and Michel Bauwens, Network Society and Future Scenarios for a Collaborative Economy (Palgrave Macmillan, 2014); Michel Bauwens, “Blueprint for P2P Society: The Partner State and Ethical Economy,” Shareable (April 7, 2012); John Restakis, Cooperative Commonwealth and the Partner State (The Next System Project, 2017). 5. Ibn Khaldun, The Muqaddimah: An Introduction to History, trans.


pages: 370 words: 102,823

Rethinking Capitalism: Economics and Policy for Sustainable and Inclusive Growth by Michael Jacobs, Mariana Mazzucato

balance sheet recession, banking crisis, basic income, Bear Stearns, Bernie Sanders, Bretton Woods, business climate, business cycle, Carmen Reinhart, central bank independence, collaborative economy, complexity theory, conceptual framework, corporate governance, corporate social responsibility, creative destruction, credit crunch, Credit Default Swap, crony capitalism, David Ricardo: comparative advantage, decarbonisation, deindustrialization, dematerialisation, Detroit bankruptcy, double entry bookkeeping, Elon Musk, endogenous growth, energy security, eurozone crisis, factory automation, facts on the ground, fiat currency, Financial Instability Hypothesis, financial intermediation, forward guidance, full employment, G4S, Gini coefficient, Growth in a Time of Debt, Hyman Minsky, income inequality, information asymmetry, Intergovernmental Panel on Climate Change (IPCC), Internet of things, investor state dispute settlement, invisible hand, Isaac Newton, Joseph Schumpeter, Kenneth Rogoff, Kickstarter, knowledge economy, labour market flexibility, low skilled workers, Martin Wolf, mass incarceration, Modern Monetary Theory, Money creation, Mont Pelerin Society, neoliberal agenda, Network effects, new economy, non-tariff barriers, paradox of thrift, Paul Samuelson, Post-Keynesian economics, price stability, private sector deleveraging, quantitative easing, QWERTY keyboard, railway mania, rent-seeking, road to serfdom, savings glut, Second Machine Age, secular stagnation, shareholder value, sharing economy, Silicon Valley, Steve Jobs, the built environment, The Great Moderation, The Spirit Level, Thorstein Veblen, too big to fail, total factor productivity, Tragedy of the Commons, transaction costs, trickle-down economics, universal basic income, very high income

As numerous studies have shown in recent years, GDP has very limited meaning and is even distorting in the knowledge economy. New metrics need to be designed to account for the use of energy and materials and to measure the various ways in which value is now created and well-being enhanced. Facilitate the sharing and collaborative economies. The proliferation of free internet-based services has inspired many to innovate in networks of sharing access to possessions, exchanging time and collaborating in creative projects. This is one of the routes along which ICT enables a green economy grounded in sustainability and focused on services and personal care.

Move towards some form of basic income. Providing a minimum income in the advanced countries—such as the universal basic income currently being trialled in Finland, a negative income tax and/or workfare for community projects and services—is the necessary platform for encouraging the sharing and collaborative economies, the growth of voluntary organisations and of creative endeavours that could contribute to the quality of life both at the community level and through participation in global networks. In the ‘green good life’, well-being would increasingly be measured not by possessions, but by positive experiences of healthy living, community sharing and creative involvement in networking and group activities.


pages: 302 words: 73,581

Platform Scale: How an Emerging Business Model Helps Startups Build Large Empires With Minimum Investment by Sangeet Paul Choudary

3D printing, Airbnb, Amazon Web Services, barriers to entry, bitcoin, blockchain, business process, Chuck Templeton: OpenTable:, Clayton Christensen, collaborative economy, commoditize, crowdsourcing, cryptocurrency, data acquisition, frictionless, game design, hive mind, hockey-stick growth, Internet of things, invisible hand, Kickstarter, Lean Startup, Lyft, M-Pesa, Marc Andreessen, Mark Zuckerberg, means of production, multi-sided market, Network effects, new economy, Paul Graham, recommendation engine, ride hailing / ride sharing, shareholder value, sharing economy, Silicon Valley, Skype, Snapchat, social graph, social software, software as a service, software is eating the world, Spread Networks laid a new fibre optics cable between New York and Chicago, TaskRabbit, the payments system, too big to fail, transport as a service, two-sided market, Uber and Lyft, Uber for X, uber lyft, Wave and Pay

PLATFORM SCALE IMPERATIVE The age of the industrial economy accorded inordinate power to those who held the means of production. In the age of platforms, production is decentralized. Whether it is the decentralization of manufacturing through 3D printing, the decentralization of marketing and journalism through social media, or the decentralization of service providers in the collaborative economy, the means of production are no longer limited to large companies or entities. With decentralized production, the platforms that enable and aggregate this production are the new winners. In a platformed world, the people and processes that determine quality and quantity of value units determine success.


pages: 411 words: 80,925

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, buy and hold, carbon footprint, Cass Sunstein, collaborative consumption, collaborative economy, commoditize, Community Supported Agriculture, credit crunch, crowdsourcing, dematerialisation, disintermediation, en.wikipedia.org, experimental economics, Garrett Hardin, George Akerlof, global village, hedonic treadmill, 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, peer-to-peer lending, peer-to-peer rental, 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 strength of weak ties, The Theory of the Leisure Class by Thorstein Veblen, The Wealth of Nations by Adam Smith, The Wisdom of Crowds, Thorstein Veblen, Torches of Freedom, Tragedy of the Commons, transaction costs, traveling salesman, ultimatum game, Victor Gruen, web of trust, women in the workforce, Yochai Benkler, Zipcar

During his summer “off,” Duvall immersed himself in articles, books, and research on how digital tools and the Internet were disrupting industries. He believed that the “twin forces of technology and the will of the individual” would turn traditional business models upside down and radically transform the way people think and live toward a more collaborative economy. Duvall was particularly interested in the work of Carlota Perez, a leading economist at Cambridge University and an expert in technoeconomic paradigm shifts. Perez posits that every seventy years, a disruptive technology emerges that alters the foundations of the economy and the norms by which society constructs itself—our homes, our workplaces, our education system, the way we govern, how we spend our leisure time, and so on.


pages: 304 words: 80,143

The Autonomous Revolution: Reclaiming the Future We’ve Sold to Machines by William Davidow, Michael Malone

2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, agricultural Revolution, Airbnb, American Society of Civil Engineers: Report Card, Automated Insights, autonomous vehicles, basic income, bitcoin, blockchain, blue-collar work, Bob Noyce, business process, call centre, cashless society, citizen journalism, Clayton Christensen, collaborative consumption, collaborative economy, collective bargaining, creative destruction, crowdsourcing, cryptocurrency, disintermediation, disruptive innovation, distributed ledger, en.wikipedia.org, Erik Brynjolfsson, Filter Bubble, Francis Fukuyama: the end of history, Geoffrey West, Santa Fe Institute, gig economy, Gini coefficient, Hyperloop, income inequality, industrial robot, Internet of things, invention of agriculture, invention of movable type, invention of the printing press, invisible hand, Jane Jacobs, job automation, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, Joseph Schumpeter, license plate recognition, Lyft, Mark Zuckerberg, mass immigration, Network effects, new economy, peer-to-peer lending, QWERTY keyboard, ransomware, Richard Florida, Robert Gordon, Ronald Reagan, Second Machine Age, self-driving car, sharing economy, Shoshana Zuboff, Silicon Valley, Simon Kuznets, Snapchat, speech recognition, Stuxnet, surveillance capitalism, TaskRabbit, The Death and Life of Great American Cities, The Rise and Fall of American Growth, the scientific method, trade route, Turing test, two and twenty, Uber and Lyft, uber lyft, universal basic income, uranium enrichment, urban planning, zero day, zero-sum game, Zipcar

The transformation that will take place in other service businesses with high information proxy content will be similar. A SHARED FUTURE Many of the most disruptive new business models will emerge in what has been called the sharing economy. Information equivalence is the primary driving force behind the sharing economy, which is also known as the shareconomy, collaborative consumption, collaborative economy, or peer economy. All of these terms are used to describe a broad range of economic activities.40 Arun Sundararajan does an excellent job of characterizing this phenomenon in his book, The Sharing Economy.41 The sharing economy, he writes, is market based and facilitates the efficient exchange and sharing of goods, services, and human skills.


pages: 296 words: 83,254

After the Gig: How the Sharing Economy Got Hijacked and How to Win It Back by Juliet Schor, William Attwood-Charles, Mehmet Cansoy

1960s counterculture, Airbnb, Amazon Mechanical Turk, American Legislative Exchange Council, back-to-the-land, barriers to entry, carbon footprint, cleantech, collaborative consumption, collaborative economy, Community Supported Agriculture, Covid-19, COVID-19, creative destruction, crowdsourcing, deskilling, en.wikipedia.org, financial independence, future of work, George Gilder, gig economy, global supply chain, global village, haute cuisine, income inequality, independent contractor, information asymmetry, Intergovernmental Panel on Climate Change (IPCC), Jean Tirole, Jeff Bezos, jitney, job satisfaction, Kevin Kelly, Lyft, Marshall McLuhan, Mason jar, mass incarceration, Mitch Kapor, Network effects, new economy, New Urbanism, Occupy movement, peer-to-peer rental, Post-Keynesian economics, precariat, profit maximization, profit motive, race to the bottom, regulatory arbitrage, rent-seeking, ride hailing / ride sharing, Ruby on Rails, selection bias, sharing economy, Silicon Valley, Silicon Valley ideology, Skype, smart cities, Stewart Brand, TaskRabbit, technoutopianism, Telecommunications Act of 1996, The Nature of the Firm, the payments system, Tragedy of the Commons, transaction costs, transportation-network company, Travis Kalanick, two-sided market, Uber and Lyft, Uber for X, uber lyft, urban planning, wage slave, walking around money, Whole Earth Catalog, women in the workforce, working poor, Yochai Benkler, Zipcar

Center for a New American Dream. https://newdream.org/downloads/New_Dream_2014_Poll_Final_Analysis.pdf. Chan, Kelvin. 2019. “London Keeps Uber on Short License as It Scrutinizes Firm.” Associated Press, September 24, 2019. Chase, Robin. 2015. Peers Inc: How People and Platforms Are Inventing the Collaborative Economy and Reinventing Capitalism. New York: Headline/PublicAffairs. Chen, Julie Yujie. 2018. “Thrown under the Bus and Outrunning It! The Logic of Didi and Taxi Drivers’ Labour and Activism in the On-Demand Economy.” New Media & Society 20 (8): 2691–2711. Cherry, Miriam A. 2016. “Beyond Misclassification: The Digital Transformation of Work.”


pages: 315 words: 93,522

How Music Got Free: The End of an Industry, the Turn of the Century, and the Patient Zero of Piracy by Stephen Witt

4chan, barriers to entry, Berlin Wall, big-box store, cloud computing, collaborative economy, crowdsourcing, game design, Internet Archive, invention of movable type, inventory management, iterative process, Jason Scott: textfiles.com, job automation, late fees, mental accounting, moral panic, packet switching, pattern recognition, peer-to-peer, pirate software, Ronald Reagan, security theater, sharing economy, side project, Silicon Valley, software patent, Steve Jobs, zero day

For rates to stay positive we have to hoard almost everything in the world from the people that need it, if it is to have value. The artificial scarcity tactics that have been used through the ages to achieve this are getting harder to execute because of technological liberation—which is enabling the emergence of collaborative economy which bypasses rates of return. Perhaps another world was possible. But organizing it proved difficult, and only in one other country besides Sweden did the Pirate Party gain a foothold: Germany. There, it registered 30,000 members in the course of a couple of years, polling in the high single digits, winning representation in several state-level elections in 2011, and threatening to put members in the Bundestag.


pages: 327 words: 90,542

The Age of Stagnation: Why Perpetual Growth Is Unattainable and the Global Economy Is in Peril by Satyajit Das

"Robert Solow", 9 dash line, accounting loophole / creative accounting, additive manufacturing, Airbnb, Albert Einstein, Alfred Russel Wallace, Anton Chekhov, Asian financial crisis, banking crisis, Bear Stearns, Berlin Wall, bitcoin, bond market vigilante , Bretton Woods, BRICs, British Empire, business cycle, business process, business process outsourcing, call centre, capital controls, Capital in the Twenty-First Century by Thomas Piketty, Carmen Reinhart, Clayton Christensen, cloud computing, collaborative economy, colonial exploitation, computer age, creative destruction, cryptocurrency, currency manipulation / currency intervention, David Ricardo: comparative advantage, declining real wages, Deng Xiaoping, deskilling, disintermediation, disruptive innovation, Downton Abbey, Emanuel Derman, energy security, energy transition, eurozone crisis, financial innovation, financial repression, forward guidance, Francis Fukuyama: the end of history, full employment, gig economy, Gini coefficient, global reserve currency, global supply chain, Goldman Sachs: Vampire Squid, happiness index / gross national happiness, Honoré de Balzac, hydraulic fracturing, Hyman Minsky, illegal immigration, income inequality, income per capita, indoor plumbing, informal economy, Innovator's Dilemma, intangible asset, Intergovernmental Panel on Climate Change (IPCC), Jane Jacobs, John Maynard Keynes: technological unemployment, Kenneth Rogoff, knowledge economy, knowledge worker, light touch regulation, liquidity trap, Long Term Capital Management, low skilled workers, Lyft, Mahatma Gandhi, margin call, market design, Marshall McLuhan, Martin Wolf, Mikhail Gorbachev, mortgage debt, mortgage tax deduction, new economy, New Urbanism, offshore financial centre, oil shale / tar sands, oil shock, old age dependency ratio, open economy, passive income, peak oil, peer-to-peer lending, pension reform, Plutocrats, plutocrats, Ponzi scheme, Potemkin village, precariat, price stability, profit maximization, pushing on a string, quantitative easing, race to the bottom, Ralph Nader, Rana Plaza, rent control, rent-seeking, reserve currency, ride hailing / ride sharing, rising living standards, risk/return, Robert Gordon, Ronald Reagan, salary depends on his not understanding it, Satyajit Das, savings glut, secular stagnation, seigniorage, sharing economy, Silicon Valley, Simon Kuznets, Slavoj Žižek, South China Sea, sovereign wealth fund, TaskRabbit, The Chicago School, The Great Moderation, The inhabitant of London could order by telephone, sipping his morning tea in bed, the various products of the whole earth, the market place, the payments system, The Spirit Level, Thorstein Veblen, Tim Cook: Apple, too big to fail, total factor productivity, trade route, transaction costs, uber lyft, unpaid internship, Unsafe at Any Speed, Upton Sinclair, Washington Consensus, We are the 99%, WikiLeaks, Y2K, Yom Kippur War, zero-coupon bond, zero-sum game

When they came for the trade unionists, I did not speak out; I was not a trade unionist. When they came for the Jews, I remained silent; I wasn't a Jew. When they came for me, there was no one left to speak out.” 7 Technology and innovation are touted as sources of future employment. The sharing economy (also known as the peer economy, collaborative economy, and gig economy) is based on the ubiquitous Internet, improved broadband connectivity, smartphones, and apps. Individuals with spare time, houses, rooms, cars, and the like can use them as sources of work and income. The economy that benefits everyone focuses on transport (Uber, Lyft, Sidecar, GetTaxi, Hailo), short-term accommodation (Airbnb, HomeAway), small tasks (TaskRabbit, Fiverr), grocery-shopping services (Instacart), home-cooked meals (Feastly), on-demand delivery services (Postmates, Favor), pet transport (DogVacay, Rover), car rental (RelayRides, Getaround), boat rental (Boatbound), and tool rental (Zilok).


pages: 879 words: 233,093

The Empathic Civilization: The Race to Global Consciousness in a World in Crisis by Jeremy Rifkin

agricultural Revolution, Albert Einstein, animal electricity, back-to-the-land, British Empire, carbon footprint, collaborative economy, death of newspapers, delayed gratification, distributed generation, en.wikipedia.org, energy security, feminist movement, global village, hedonic treadmill, hydrogen economy, illegal immigration, income inequality, income per capita, interchangeable parts, Intergovernmental Panel on Climate Change (IPCC), Internet Archive, invention of movable type, invention of the steam engine, invisible hand, Isaac Newton, James Watt: steam engine, Johann Wolfgang von Goethe, Mahatma Gandhi, Marshall McLuhan, means of production, megacity, meta-analysis, Milgram experiment, Nelson Mandela, new economy, New Urbanism, Norbert Wiener, off grid, out of africa, Peace of Westphalia, peak oil, peer-to-peer, planetary scale, scientific worldview, Simon Kuznets, Skype, smart grid, smart meter, social intelligence, supply-chain management, surplus humans, the medium is the message, the scientific method, The Wealth of Nations by Adam Smith, The Wisdom of Crowds, theory of mind, Tragedy of the Commons, transaction costs, upwardly mobile, uranium enrichment, working poor, World Values Survey

A venture like Linux, for example, only works when the software, code, and new applications are openly shared among everyone in the network. FROM PROPERTY RIGHTS TO ACCESS RIGHTS Nowhere is the old classical economic paradigm and the new distributed capitalism model more at odds than when it comes to the notion of holding intellectual property. Patents and copyrights are sacrosanct in the traditional business scheme. In a collaborative economy, however, open-sourcing of critical information becomes essential to collaboration. Possessing and controlling knowledge thwarts collaboration. The struggle in the life-sciences sector over patents on genes is illustrative of the difference between traditional market-based capitalism and the new distributed capitalism.

Macpherson argues, in turn, that property needs to be redefined to include the “right to an immaterial revenue, a revenue of enjoyment of the quality of life.” He suggests that “such a revenue can only be reckoned as a right to participate in a satisfying set of social relations.”27 In a collaborative economy, the right of inclusion becomes more important in establishing economic and social relationships than the right of exclusion. As we’ve seen, traditional property rights, in the form of intellectual and real property, can act as a damper on the commercial and social possibilities opened up by the new distributed communications technologies and energies that make up the operating infrastructure of a Third Industrial Revolution economy.


pages: 378 words: 110,518

Postcapitalism: A Guide to Our Future by Paul Mason

Alfred Russel Wallace, bank run, banking crisis, banks create money, Basel III, basic income, Bernie Madoff, Bill Gates: Altair 8800, bitcoin, Branko Milanovic, Bretton Woods, BRICs, British Empire, business cycle, business process, butterfly effect, call centre, capital controls, Cesare Marchetti: Marchetti’s constant, Claude Shannon: information theory, collaborative economy, collective bargaining, Corn Laws, corporate social responsibility, creative destruction, credit crunch, currency manipulation / currency intervention, currency peg, David Graeber, deglobalization, deindustrialization, deskilling, discovery of the americas, disinformation, Downton Abbey, drone strike, en.wikipedia.org, energy security, eurozone crisis, factory automation, financial repression, Firefox, Fractional reserve banking, Frederick Winslow Taylor, full employment, future of work, game design, Herbert Marcuse, income inequality, inflation targeting, informal economy, information asymmetry, intangible asset, Intergovernmental Panel on Climate Change (IPCC), Internet of things, job automation, John Maynard Keynes: Economic Possibilities for our Grandchildren, Joseph Schumpeter, Kenneth Arrow, Kevin Kelly, Kickstarter, knowledge economy, knowledge worker, late capitalism, low skilled workers, market clearing, means of production, Metcalfe's law, microservices, Money creation, money: store of value / unit of account / medium of exchange, mortgage debt, Network effects, new economy, Nixon triggered the end of the Bretton Woods system, Norbert Wiener, Occupy movement, oil shale / tar sands, oil shock, Paul Samuelson, payday loans, Pearl River Delta, post-industrial society, precariat, price mechanism, profit motive, quantitative easing, race to the bottom, RAND corporation, rent-seeking, reserve currency, RFID, Richard Stallman, Robert Gordon, Robert Metcalfe, secular stagnation, sharing economy, Stewart Brand, structural adjustment programs, supply-chain management, The Future of Employment, the scientific method, The Wealth of Nations by Adam Smith, Transnistria, union organizing, universal basic income, urban decay, urban planning, Vilfredo Pareto, wages for housework, WikiLeaks, women in the workforce, Yochai Benkler

‘Organisations and Markets’, Journal of Economic Perspectives, vol. 5 (2) (1991), pp. 25–44 2. E. Preobrazhensky, The New Economics (Oxford, 1964), p. 55 3. See, for example, P. Mason, ‘WTF is Eleni Haifa?’, 20 December 2014, http://www.versobooks.com/blogs/1801-wtf-is-eleni-haifa-a-new-essay-by-paul-mason 4. V. Kostakis and M. Bauwens, Network Society and Future Scenarios for a Collaborative Economy (London, 2014) 5. M. Wark, A Hacker Manifesto (Cambridge MA, 2004) 6. See, for example, ‘Fair Society, Healthy Lives’ (The Marmot Review), UCL Institute of Health Equity, February 2010, http://www.instituteofhealthequity.org/projects/fair-society-healthy-lives-the-marmot-review 7. J. D.


Virtual Competition by Ariel Ezrachi, Maurice E. Stucke

Airbnb, Albert Einstein, algorithmic trading, barriers to entry, cloud computing, collaborative economy, commoditize, corporate governance, crony capitalism, crowdsourcing, Daniel Kahneman / Amos Tversky, David Graeber, demand response, disintermediation, disruptive innovation, double helix, Downton Abbey, Erik Brynjolfsson, experimental economics, Firefox, framing effect, Google Chrome, independent contractor, index arbitrage, information asymmetry, interest rate derivative, Internet of things, invisible hand, Jean Tirole, John Markoff, Joseph Schumpeter, Kenneth Arrow, light touch regulation, linked data, loss aversion, Lyft, Mark Zuckerberg, market clearing, market friction, Milgram experiment, multi-sided market, natural language processing, Network effects, new economy, offshore financial centre, pattern recognition, prediction markets, price discrimination, price stability, profit maximization, profit motive, race to the bottom, rent-seeking, Richard Thaler, ride hailing / ride sharing, road to serfdom, Robert Bork, Ronald Reagan, self-driving car, sharing economy, Silicon Valley, Skype, smart cities, smart meter, Snapchat, social graph, Steve Jobs, sunk-cost fallacy, supply-chain management, telemarketer, The Chicago School, The Myth of the Rational Market, The Wealth of Nations by Adam Smith, too big to fail, transaction costs, Travis Kalanick, turn-by-turn navigation, two-sided market, Uber and Lyft, Uber for X, uber lyft, Watson beat the top human players on Jeopardy!, women in the workforce, yield management

Note the distinction between the powerful super-platform, which we discuss in this chapter, and the more general definition of platform, which often encompasses online companies operating in two- or multisided markets. On the EU approach to platforms, see European Commission, Public Consultation on the Regulatory Environment for Platforms, Online Intermediaries, Data and Cloud Computing and the Collaborative Economy (September 24, 2015), https://ec.europa.eu/digital-agenda/en/news/public-consultation -regulatory-environment-platforms-online-intermediaries-data-and-cloud. Notes to Pages 149–151 309 10. Don Clark and Robert McMillan, “Facebook, Amazon and Other Tech Giants Tighten Grip on Internet Economy,” Wall Street Journal, November 5, 2015, http://www.wsj.com/articles/giants-tighten-grip-on-internet-economy -1446771732. 11.