sharing economy

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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

As I will argue later in this chapter, it is quite natural that the sharing economy spans the continuum between market economies and gift economies. But to get there, I first need to better bound the scope of what is meant by the “sharing economy,” and discuss the evolution of recent thinking about it. What Is the Sharing Economy? In the introduction, I provided a number of examples that fall under the umbrella of what I call the “sharing economy” or “crowd-based capitalism,” terms I use more precisely (and interchangeably) to describe an economic system with the following five characteristics: Largely market-based: the sharing economy creates markets that enable the exchange of goods and the emergence of new services, resulting in potentially higher levels of economic activity.

He is explicit, however, in his interest in the “business” of sharing, and, realizing the inherent potential contradiction, explains his use of the term “sharing economy”: Why am I using the term “sharing economy” time and time again in this book? In part, I do so because this term has come to dominate discourse on the subject. The genie is out of the bottle. It would be near-impossible to dislodge the term without the risk of fracturing a growing movement of people who largely have no problem with the term, and who are building something that—for the most part, as we will see—is a social and economic good.17 How Key Early Thinking on the Sharing Economy Evolved What I defined as the sharing economy (or as crowd-based capitalism) emerged at scale around 2010.

In Remix Lessig uses a stark definition of a sharing economy in the context of culture, distinguishing it definitively from what he calls a “commercial economy.” He writes: “There exists not just the commercial economy, which meters access on the simple metric of price, but also a sharing economy, where access to culture is regulated not by price but by a complex set of social relations.”24 Later in the same chapter, Lessig qualifies his point: “Of all the ways in which the exchange within a sharing economy can be defined—or put differently, of all the possible terms of the exchange within a sharing economy—the one way in which it cannot be defined is in terms of money.”25 Lessig himself then draws a parallel between his thinking and Benkler’s.


pages: 349 words: 98,309

Hustle and Gig: Struggling and Surviving in the Sharing Economy by Alexandrea J. Ravenelle

"side hustle", active transport: walking or cycling, Affordable Care Act / Obamacare, Airbnb, Amazon Mechanical Turk, barriers to entry, basic income, Broken windows theory, call centre, Capital in the Twenty-First Century by Thomas Piketty, cashless society, Clayton Christensen, clean water, collaborative consumption, collective bargaining, creative destruction, crowdsourcing, disruptive innovation, Downton Abbey, East Village, Erik Brynjolfsson, full employment, future of work, gig economy, Howard Zinn, income inequality, independent contractor, informal economy, job automation, low skilled workers, Lyft, minimum wage unemployment, Mitch Kapor, Network effects, new economy, New Urbanism, obamacare, Panopticon Jeremy Bentham, passive income, peer-to-peer, peer-to-peer model, performance metric, precariat, rent control, ride hailing / ride sharing, Ronald Reagan, sharing economy, Silicon Valley, strikebreaker, TaskRabbit, telemarketer, the payments system, The Theory of the Leisure Class by Thorstein Veblen, Tim Cook: Apple, transaction costs, Travis Kalanick, Triangle Shirtwaist Factory, Uber and Lyft, Uber for X, uber lyft, ubercab, universal basic income, Upton Sinclair, urban planning, very high income, white flight, working poor, Zipcar

“Debating the Sharing Economy.” Great Transition Initiative, October. www.greattransition.org/publication/debating-the-sharing-economy. ———. 2014b. “Risks and Rewards of Cultivating a Sharing Economy.” Brink, December 23. ———. 2015. “The Sharing Economy: Reports from Stage One.” Unpublished paper. ———. 2017. “Does the Sharing Economy Increase Inequality within the Eighty Percent?: Findings from a Qualitative Study of Platform Providers.” Cambridge Journal of Regions, Economy and Society 10(2):263–79. Schor, Juliet B., and William Attwood-Charles. 2015. “Platform Providers in the ‘Sharing’ Economy.” Work in Progress: Sociology on the Economy, Work and Equality, July 28. https://workinprogress.oowsection.org/2015/07/28/platform-providers-in-the-sharing-economy/. ———. 2017.

Yet even the latest workplace policies are no match for the sharing economy’s bulldozing of workplace protections. Chapter 5 examines sexual harassment in the sharing economy and how the egalitarianism of peer-to-peer employment results in the loss of political language as workers “explain away” sexual harassment. In chapter 6, I explore the shady underbelly of the sharing economy through stories of workers who find themselves engaging in illegal or at least legally questionable activities as part of their sharing economy work. I argue that the anonymity of the sharing economy can make it easier to source otherwise law-abiding workers for drug deliveries and can lead to unsuspecting workers involved in various scams.

The increase in discrimination, partnered with a reliance on reviews and profiles and a declining level of trust, suggests that the sharing economy—while many things—is hardly a positive return to the ideal of small town life. The Increasing Casualization of Labor and the Related Risk Shift The sharing economy also brings to the forefront issues regarding the changing relationship between worker and firm and the resulting workplace risks encountered by sharing economy workers. The majority of sharing economy workers—including Uber/Lyft drivers, TaskRabbit runners, Airbnb hosts, and Handy cleaners—are independent contractors.


pages: 265 words: 69,310

What's Yours Is Mine: Against the Sharing Economy by Tom Slee

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, impact investing, income inequality, independent contractor, informal economy, invisible hand, Jacob Appelbaum, Jane Jacobs, Jeff Bezos, Khan Academy, Kibera, Kickstarter, license plate recognition, Lyft, Marc Andreessen, Mark Zuckerberg, move fast and break things, move fast and break things, natural language processing, Netflix Prize, Network effects, new economy, Occupy movement, openstreetmap, Paul Graham, peer-to-peer, 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, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, ultimatum game, urban planning, WeWork, WikiLeaks, winner-take-all economy, Y Combinator, Yochai Benkler, Zipcar

BERTOLT BRECHT, From a German War Primer What’s yours is mine, what’s mine is my own. Traditional Yorkshire saying To my mother, Audrey Slee Contents 1 The Sharing Economy 2 The Sharing Economy Landscape 3 A Place to Stay with Airbnb 4 On the Move with Uber 5 Neighbors Helping Neighbors 6 Strangers Trusting Strangers 7 A Short History of Openness 8 Open Wide 9 What’s Yours Is Mine Bibliography Endnotes Acknowledgements 1. The Sharing Economy The Sharing Economy is a wave of new businesses that use the Internet to match customers with service providers for real-world exchanges such as short-term apartment rentals, car rides, or household tasks.

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. I will use the name, but to avoid repeated use of the word “alleged” or annoyingly frequent scare quotes I will capitalize it as the Sharing Economy.2 Definitions don’t take us very far when talking about something as fluid and rapidly changing as the Sharing Economy, but we still need to draw some boundaries around the topic to talk about it coherently.

New businesses may be built around sharing and openness, but commercial instincts will tend to drive out altruistic behavior, and the generous impulses that inspired the Sharing Economy will be crushed by monetary incentives. The Sharing Economy is young and it is changing rapidly. It will be shaped by our behavior as consumers, but also by our behavior as citizens and our behavior as workers. Sharing Economy companies claim we should trust them and their technologies to take over functions provided by governments: guaranteeing a safe consumer experience, ensuring that employment is fair and dignified, and shaping cities to be livable and sustainable. We should not do so. I wrote this book because the Sharing Economy agenda appeals to ideals with which I and many others identify; ideals such as equality, sustainability, and community.


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

Frenken, Koen, Toon Meelen, Martijn Arets, and Pieter van de Glind. 2015. “Smarter Regulation for the Sharing Economy.” The Guardian, May 20, 2015. Frenken, Koen, and Juliet B. Schor. 2017. “Putting the Sharing Economy into Perspective.” Environmental Innovation and Societal Transitions 23 (June): 3–10. Friedan, Betty. 1963. The Feminist Mystique. New York: Norton. Friedman, Thomas L. 2013. “Welcome to the ‘Sharing Economy.’ ” New York Times, July 20, 2013. FTC Staff. 2016. “The ‘Sharing’ Economy—Issues Facing Platforms, Participants & Regulators.” Washington, DC: Federal Trade Commission. www.ftc.gov/reports/sharing-economy-issues-facing-platforms-participants-regulators-federal-trade-commission.

Plenitude: The New Economics of True Wealth. New York: Penguin. ———. 2014. “Debating the Sharing Economy.” www.greattransition.org/publication/debating-the-sharing-economy. ———. 2015. “Homo Varians: Diverse Motives and Economic Behavior in the Sharing Economy.” Unpublished paper. Boston College. ———. 2016. “ ‘Old Exclusion in Emergent Spaces.’ ” In Ours to Hack and to Own: The Rise of Platform Cooperativism, edited by Trebor Scholz and Nathan Schneider, 38–42. New York: OR Books. ———. 2017. “Does the Sharing Economy Increase Inequality within the Eighty Percent? Findings from a Qualitative Study of Platform Providers.”

Schor, and Robert Wengronowitz. 2018. “Domesticating the Market: Moral Exchange and the Sharing Economy.” Socio-Economic Review (Feb. 16): doi:10.1093/ser/mwy003. In chapter 3: Juliet B. Schor. 2017. “Does the Sharing Economy Increase Inequality within the Eighty Percent? Findings from a Qualitative Study of Platform Providers.” Cambridge Journal of Regions, Economy and Society 10 (2): 263–79. In chapter 5: Juliet B. Schor, Connor Fitzmaurice, Lindsey B. Carfagna, Will Attwood-Charles, and Emilie Dubois Poteat. 2016. “Paradoxes of Openness and Distinction in the Sharing Economy.” Poetics 54:66–81. Note: This Book Has Been Coproduced This book is the product of a thoroughly collaborative effort among a team of researchers.


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

Tom Slee, What’s Yours Is Mine: Against the Sharing Economy (O/R Books 2015), 27. The website itself seems to have gone offline at the time of final editing. 6. Anya Kamenetz, ‘Is Peers the sharing economy’s future or just a great Silicon Valley PR stunt?’, Fast Company (9 December 2013), http://www.fastcompany. com/3022974/tech-forecast/is-peers-the-sharing-economys-future-or-just-a- great-silicon-valley-pr-stunt, archived at https://perma.cc/6DMG-DGBJ 7. Andrew Leonard, ‘The sharing economy gets greedy’, Salon (1 August 2013), http://www.salon.com/2013/07/31/the_sharing_economy_gets_greedy/, archived at https://perma.cc/M9E6-EVF5.

For subsequent details, see Andrew Leonard, ‘Who owns the sharing economy?’, Salon (2 August 2013), http:// www.salon.com/2013/08/02/who_owns_the_sharing_economy/, archived at https://perma.cc/AL8X-VZXT 8. Sarah Kessler, ‘Peers says its new focus is helping sharing economy workers’, Fast Company (12 November 2014), http://www.fastcompany.com/3038310/peers- says-its-new-focus-is-helping-sharing-economy-workers, archived at https:// perma.cc/D5WR-WXXW 9. Tech:NYC, ‘What we are’, http://www.technyc.org/what-we-are/, archived at https://perma.cc/Z9ND-3ETH 10. Sharing Economy UK, ‘About us’, http://www.sharingeconomyuk.com, archived at https://perma.cc/3ENY-TLF3 11.

A host of industry-representative groups and lobbying outfits working on behalf of the on-demand economy have sprung up—with varying degrees of transparency. Sharing-economy critic Tom Slee points to Peers.org as a particularly interesting example of such lobbying efforts, ‘appropriating the language of collective action and progressive politics for private financial gain’.5 The platform describes itself variably as a ‘member-driven organization to support * * * Keeping Regulators at Bay 33 the sharing economy movement’, ‘the world’s largest independent sharing economy community’, and an organization aiming ‘to support workers by making the sharing economy a better work opportunity’—yet the reality appears to be somewhat different.6 Following an early promotional call, Andrew Leonard of Salon wondered: So the obvious question is, who does Peers represent?


Remix: Making Art and Commerce Thrive in the Hybrid Economy by Lawrence Lessig

Amazon Web Services, Andrew Keen, Benjamin Mako Hill, Berlin Wall, Bernie Sanders, Brewster Kahle, Cass Sunstein, collaborative editing, commoditize, disintermediation, don't be evil, Erik Brynjolfsson, Internet Archive, invisible hand, Jeff Bezos, jimmy wales, Joi Ito, Kevin Kelly, Larry Wall, late fees, Mark Shuttleworth, Netflix Prize, Network effects, new economy, optical character recognition, PageRank, peer-to-peer, recommendation engine, revision control, Richard Stallman, Ronald Coase, Saturday Night Live, SETI@home, sharing economy, Silicon Valley, Skype, slashdot, Steve Jobs, The Nature of the Firm, thinkpad, transaction costs, VA Linux, yellow journalism, Yochai Benkler

Puritan society has waged war against economies for sex that compete with sex within a monogamous relationship—believing both fornication (a competing sharing economy) and prostitution (a competing commercial economy) put too much pressure on an idealized sharing economy. Likewise, the content industry today wages war against economies for exchanging copyrighted content—peer-to-peer sharing economies, where people don’t necessarily know one another, as well as friend- 80706 i-xxiv 001-328 r4nk.indd 150 8/12/08 1:55:25 AM T W O EC O NO MIE S: C O MMERC I A L A ND SH A RING 151 ship sharing economies,44 where they do. In both cases, the judgment that the one economy is poison to the other may well be right.

For despite the intuitions that names give to the contrary, a thin sharing economy is often easier to support than a thick sharing economy. This is because inspiring or sustaining thee motivations is not costless. Or at least, all things being equal, a me motivation (for us, now) comes more easily to most. Thus, distinguishing cases where a thee motivation is necessary from cases where it isn’t will be helpful in predicting whether a certain sharing economy will survive. 80706 i-xxiv 001-328 r4nk.indd 154 8/12/08 1:55:26 AM T W O EC O NO MIE S: C O MMERC I A L A ND SH A RING 155 Internet Sharing Economies The Internet has exploded the range and thickness of sharing economies too.

T WO ECONOMIES: COMMERCIAL AND SHARING 117 Commercial Economies 119 Three Successes from the Internet’s Commercial Economy 122 Three Keys to These Three Successes 128 Little Brother 132 The Character of Commercial Success 141 Sharing Economies 143 Internet Sharing Economies 155 The Paradigm Case: Wikipedia 156 Beyond Wikipedia 162 What Sharing Economies Share 172 7. HYBRID ECONOMIES 177 The Paradigm Case: Free Software 179 Beyond Free Software 185 8. ECONOMY LESSONS 225 Parallel Economies Are Possible 80706 i-xxiv 001-328 r4nk.indd x 225 8/12/08 1:54:25 AM Tools Help Signal Which Economy a Creator Creates For 226 Crossovers Are Growing 227 Strong Incentives Will Increasingly Drive Commercial Entities to Hybrids 228 Perceptions of Fairness Will in Part Mediate the Hybrid Relationship Between Sharing and Commercial Economies 231 “Sharecropping” Is Not Likely to Become a Term of Praise 243 The Hybrid Can Help Us Decriminalize Youth 248 Part III: Enabling the Future 9.


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

For a description of the sharing economy as a signifier of a constellation of business activities with roots in collaborative commerce, see sociologist Juliet B. Schor, “On the Sharing Economy,” Contexts 14, no. 1 (2015): 12–19, http://journals.sagepub.com/doi/pdf/10.1177/1536504214567860; see also Edward T. Walker, “Beyond the Rhetoric of the ‘Sharing Economy,’” Contexts 14, no. 1 (2015): 12–19, http://journals.sagepub.com/doi/pdf/10.1177/1536504214567860; Natasha Singer, “Twisting Words to Make ‘Sharing’ Apps Seem Selfless,” New York Times, August 8, 2015; Caroline Jack, “Imagining the Sharing Economy,” Points, November 21, 2016, https://points.datasociety.net/imagining-the-sharing-economy-3a2048469da5. 52.

Universal basic income is one form of “automation alimony” that is proposed to relieve the rising inequality often attributed to automation. It was in this economic and cultural climate that the buzz around “the sharing economy” began. Its promise was seductively simple. The sharing economy was a social technology movement designed to use tech to share resources more efficiently—a true “commonwealth” aimed at remedying some of the insecurity fostered by the Great Recession. The sharing economy was built atop earlier cultural conversations, like those about rental commerce, car-sharing, and cooperative housing. 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.

A Pew Research Center survey published in November 2016 shows that 8 percent of American adults earned money from an online employment platform in the previous year across industries such as ridehailing, online tasks, or cleaning/laundry.35 Rounds and rounds of venture capital funding bolstered Uber and Airbnb, the two most successful companies to emerge from the sharing-economy period. Both companies became “unicorns,” a term for start-ups that reach billion-dollar valuations. In 2016, Uber reached a $68 billion valuation, while Airbnb was valued at $30 billion,36 less than a decade after their beginnings in 2009 and 2008, respectively. By July 2017, the Oxford Internet Institute’s iLabour Project published a report finding that the online sharing economy, which includes clerical and data entry services for jobs posted online, had grown 26 percent in the previous year.37 But as the sharing economy has grown, things have gotten complicated.


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

ECONOMIC BARRIERS AND ENABLERS OF DISTRIBUTED OWNERSHIP ARUN SUNDARARAJAN In May 2015, I chatted with OuiShare’s co-founders Antonin Léonard and Benjamin Tincq during their OuiShare Fest, the annual gathering of over a thousand sharing-economy enthusiasts in Paris. I sensed a tension at the Fest between the purpose-driven and profit-driven participants: those who saw the sharing economy as a path to a more equitable and environmentally sensible world, and those who were excited by the massive infusions of venture capital into hundreds of burgeoning sharing-economy platforms. Léonard spoke of the confusion and disappointment he detected from those who had hoped that the sharing economy would really change the world. “And because there was so much hope, the ones that were once so hopeful are now so disappointed, in a way,” he said.

This episode showed me how a culture of genuine sharing can also mean sharing technology, just like anything else. Over the past five years, the technological ingenuity of the “sharing economy” deeply resonated with the zeitgeist. Emphasizing community, underutilized resources, and open data, the genuine sharing economy was initially presented as a challenge to corporate power. Just like my Buddhist friends, the pioneers of this economy proposed to split the use of lawn mowers, drills, and cars. But soon, the non-commercial values behind many platforms were rewritten in the boardrooms of Silicon Valley, turning the “sharing economy” into a misnomer. Today, facing various prophecies about sharing and the future of work, we need to remind ourselves that there is no unstoppable evolution leading to the uberization of society; more positive alternatives are possible.

What if we had an Internet of ownership? REAL SHARING, REAL DEMOCRACY Another word that the Internet has gotten to is sharing. Sharing used to mean something we do with the people we know and trust. In the so-called sharing economy, it means more convenient transactions that take place on distant servers somewhere. Convenience is great, but all along there has been a real sharing economy at work, the cooperative economy. One can trace the modern cooperative movement to the Rochdale Principles of 1844, in England, though it had precursors among ancient tribes, monasteries, and guilds around the world.


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

This category has registered an increase of 1.7 per cent (2.9 million) between 2005 and 2015,71 but most of these increases have been for offline work. Given that no direct measures of the sharing economy are currently available, surveys and other indirect measures have been used instead. Nearly all of the estimates suggest that around 1 per cent of the US labour force is involved in the online sharing economy formed by lean platforms.72 Even here, the results have to take into account that Uber drivers probably form the majority of these workers.73 The sharing economy outside of Uber is tiny. In the United Kingdom less evidence is presently available, but the most thorough survey done so far suggests that a slightly higher number of people routinely sell their labour through lean platforms.

Henwood, Doug. 2003. After the New Economy. New York: New Press. Henwood, Doug. 2015. ‘What the Sharing Economy Takes’. The Nation, 27 January. http://www.thenation.com/article/what-sharing-economy-takes (accessed 25 May 2016). Herrman, John. 2016. ‘Media Websites Battle Faltering Ad Revenue and Traffic’. The New York Times, 17 April. http://www.nytimes.com/2016/04/18/business/media-websites-battle-falteringad-revenue-and-traffic.html (accessed 30 June 2016). Hesse, Jason. 2015. ‘6 per cent of Brits Use Sharing Economy to Earn Extra Cash’. Real Business. 15 September. http://realbusiness.co.uk/article/31360-6-per-cent-of-brits-use-sharing-economyto-earn-extra-cash (accessed 25 May 2016).

In particular, there has been a renewed focus on the rise of technology: automation, the sharing economy, endless stories about the ‘Uber for X’, and, since around 2010, proclamations about the internet of things. These changes have received labels such as ‘paradigm shift’ from McKinsey1 and ‘fourth industrial revolution’ from the executive chairman of the World Economic Forum and, in more ridiculous formulations, have been compared in importance to the Renaissance and the Enlightenment.2 We have witnessed a massive proliferation of new terms: the gig economy, the sharing economy, the on-demand economy, the next industrial revolution, the surveillance economy, the app economy, the attention economy, and so on.


pages: 290 words: 87,549

The Airbnb Story: How Three Ordinary Guys Disrupted an Industry, Made Billions...and Created Plenty of Controversy by Leigh Gallagher

Airbnb, Amazon Web Services, barriers to entry, Ben Horowitz, Bernie Sanders, cloud computing, crowdsourcing, don't be evil, Donald Trump, East Village, Elon Musk, hockey-stick growth, housing crisis, iterative process, Jeff Bezos, Jony Ive, Justin.tv, Lyft, Marc Andreessen, Mark Zuckerberg, medical residency, Menlo Park, Network effects, Paul Buchheit, Paul Graham, performance metric, Peter Thiel, RFID, Sam Altman, Sand Hill Road, Saturday Night Live, sharing economy, side project, Silicon Valley, Silicon Valley startup, South of Market, San Francisco, Startup school, Steve Jobs, TaskRabbit, the payments system, Tony Hsieh, Travis Kalanick, uber lyft, Y Combinator, yield management

Weaver and Kayla Deru, “Carbon Monoxide Poisoning at Motels, Hotels, and Resorts,” American Journal of Preventative Medicine, July 2007. 98 According to the National Fire Protection Association: Richard Campbell, “Structure Fires in Hotels and Motels,” National Fire Protection Association, September 2015. 100 relative to nonblack hosts: Benjamin Edelman and Michael Luca, “Digital Discrimination: The Case of Airbnb.com,” Harvard Business School Working Paper, no. 14-054, January 2014. 100 compared with white guests: Benjamin Edelman, Michael Luca, and Dan Svirsky, “Racial Discrimination in the Sharing Economy: Evidence from a Field Experiment,” American Economic Journal: Applied Economics, September 16, 2016, https://ssrn.com/abstract=2701902. 101 rejections stopped: Shankar Vedantam, Maggie Penman, and Max Nesterak, “#AirbnbWhileBlack: How Hidden Bias Shapes the Sharing Economy,” Hidden Brain, NPR, podcast audio, April 26, 2016, http://www.npr.org/2016/04/26/475623339/-airbnbwhileblack-how-hidden-bias-shapes-the-sharing-economy. 101 “your XXX head”: Elizabeth Weise, “Airbnb Bans N. Carolina Host as Accounts of Racism Rise,” USA Today, June 2, 2016, http://www.usatoday.com/story/tech/2016/06/01/airbnb-bans-north-carolina-host-racism/85252190/. 102 the experts’ recommendations: Laura W.

, Commercial Observer, October 12, 2015, https://commercialobserver.com/2015/10/airbnb-is-a-growing-force-in-new-york-but-just-how-many-laws-are-being-broken/. 143 industry-demand growth: Lodging and Cruise—US: Lowering Our Outlook to Stable on Lower Growth Prospects in 2017, Moody’s Investors Service, September 26, 2016, https://www.moodys.com/. 143 The Sharing Economy Checks In: Jamie Lane, The Sharing Economy Checks In: An Analysis of Airbnb in the United States, CBRE, January 2016, https://cbrepkfcprod.blob.core.windows.net/downloads/store/12Samples/An_Analysis_of_Airbnb_in_the_United_States.pdf. 143 the most vulnerable hotels: Georgios Zervas, “The Rise of the Sharing Economy: Estimating the Impact of Airbnb on the Hotel Industry,” Boston University School of Management Research Paper Series, May 7, 2015, https://pdfs.semanticscholar.org/2bb7/f0eb69a4b026bccb687b546405247a132b77.pdf. 144 “pace of growth continue”: Kevin May, “Airbnb Tipped to Double in Size and Begin Gradual Impact on Hotels,” Tnooz, January 20, 2015, https://www.tnooz.com/article/airbnb-double-size-impact-hotels/. 146 deals were announced: Alison Griswold, “It’s Time for Hotels to Really, Truly Worry about Airbnb,” Quartz, July 12, 2016, http://qz.com/729878/its-time-for-hotels-to-really-truly-worry-about-airbnb/. 146 the meetings industry: Greg Oates, “Airbnb Explains Its Strategic Move into the Meetings and Events Industry,” Skift, June 29, 2016, https://skift.com/2016/06/29/airbnb-explains-its-peripheral-move-into-the-meetings-and-events-industry/. 146 from early 2015 to early 2016: “Airbnb and Peer-to-Peer Lodging: GS Survey Takeaways,” Goldman Sachs Global Investment Research, February 15, 2016. 148 “to come to it”: Susan Stellin, “Boutique Bandwagon,” New York Times, June 3, 2008, http://www.nytimes.com/2008/06/03/business/03boutique.html. 149 to list it: “VRBO/HomeAway Announcement,” Timeshare Users Group, June 6, 2005, http://www.tugbbs.com/forums/showthread.php?

And then of course, there is the more modern era of short-term vacation rentals, which has been with us for decades, whether through big players like HomeAway or VRBO or niche sites like BedandBreakfast.com, or, before that, advertisements on Craigslist or classified ads. “One of the signature elements of the sharing economy is that the ideas themselves are not new,” says Arun Sundararajan, professor at New York University and author of the book The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism. What is new, though, and what Airbnb specifically has done, is to toss aside the barriers and build an easy, friendly, accessible platform inviting anyone to do it.


pages: 527 words: 147,690

Terms of Service: Social Media and the Price of Constant Connection by Jacob Silverman

23andMe, 4chan, A Declaration of the Independence of Cyberspace, Airbnb, airport security, Amazon Mechanical Turk, augmented reality, basic income, Brian Krebs, California gold rush, call centre, cloud computing, cognitive dissonance, commoditize, correlation does not imply causation, Credit Default Swap, crowdsourcing, disinformation, don't be evil, drone strike, Edward Snowden, feminist movement, Filter Bubble, Firefox, Flash crash, game design, global village, Google Chrome, Google Glasses, hive mind, Ian Bogost, income inequality, independent contractor, informal economy, information retrieval, Internet of things, Jaron Lanier, jimmy wales, Kevin Kelly, Kickstarter, knowledge economy, knowledge worker, late capitalism, license plate recognition, life extension, lifelogging, Lyft, Mark Zuckerberg, Mars Rover, Marshall McLuhan, mass incarceration, meta-analysis, Minecraft, move fast and break things, move fast and break things, national security letter, Network effects, new economy, Nicholas Carr, Occupy movement, optical character recognition, payday loans, Peter Thiel, postindustrial economy, prediction markets, pre–internet, price discrimination, price stability, profit motive, quantitative hedge fund, race to the bottom, Ray Kurzweil, recommendation engine, rent control, RFID, ride hailing / ride sharing, self-driving car, sentiment analysis, shareholder value, sharing economy, Silicon Valley, Silicon Valley ideology, Snapchat, social graph, social intelligence, social web, sorting algorithm, Steve Ballmer, Steve Jobs, Steven Levy, TaskRabbit, technoutopianism, telemarketer, transportation-network company, Travis Kalanick, Turing test, Uber and Lyft, Uber for X, uber lyft, universal basic income, unpaid internship, women in the workforce, Y Combinator, you are the product, Zipcar

San Francisco Bay Guardian. Aug. 6, 2013. sfbg.com/2013/08/06/thin-air. 238 “grassroots organization”: “About Peers.” Peers. peers.org/about. 238 “sharing economy startups”: Andrew Leonard. “Who Owns the Sharing Economy?” Salon. Aug. 2, 2013. salon.com/2013/08/02/who_owns_the_sharing_economy. 239 “It’s like the United Nations”: Jones and Yesko. “Into Thin Air.” 239 “a shared identity”: Tom Slee. “Why the Sharing Economy Isn’t.” Whimsley. Aug. 30, 2013. tomslee.net/2013/08/why-the-sharing-economy-isnt.html. 239 “unreasonable obstacles”: ibid. 239 Atkin’s connection to Peers: Nitasha Tiku. “Airbnb’s Industry Mouthpiece Astroturfs for Donations.”

And their plan involves no less than doubling down on social ideology and online labor, turning everything, and everyone, into something to be bought or sold. Welcome to the sharing economy. BAIT AND SWITCH The sharing economy combines all the elements of online labor, reputation, and social media’s marketing-of-the-self to help make one’s entire life purely transactional. Playing off the notion that a gig-based economy, filled with mobile freelancers, is inherently liberating, partisans of the sharing economy preach flexibility and personal empowerment. The sharing economy offers services that let you turn the core elements of your life—housing, transportation, physical labor, expensively earned skills—into rentable commodities.

In the summer of 2013, evictions in San Francisco were at their highest in eleven years, due in part to the latitude the city gives landlords in evicting residents of rent-controlled apartments and the tempting payday of short-term, under-the-table rentals. Among the most pernicious aspects of the sharing economy is the way it presents itself as a populist operation, a loose community coming together to engage in mutually beneficial, informal economic exchanges. In reality, it is anything but these things. What is shared most among participants in the sharing economy is risk—risk that the platform owners displace onto workers and customers. But the industry’s self-mythologizing masks this reality. Peers, an industry lobbying group that calls itself a “grassroots organization to support the sharing economy movement,” acknowledged after its launch that its “mission-aligned independent donors” included “investors and executives of sharing economy start-ups.”


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City 2.0: The Habitat of the Future and How to Get There by Ted Books

active transport: walking or cycling, Airbnb, Albert Einstein, big-box store, carbon footprint, cleantech, collaborative consumption, crowdsourcing, demand response, housing crisis, Induced demand, Internet of things, Jane Jacobs, jitney, Kibera, Kickstarter, Kitchen Debate, McMansion, megacity, New Urbanism, openstreetmap, ride hailing / ride sharing, self-driving car, sharing economy, Silicon Valley, smart cities, smart grid, the built environment, The Death and Life of Great American Cities, urban planning, urban renewal, urban sprawl, walkable city, Zipcar

Airbnb will help provide housing flexibility in cities that now have a severe mismatch in supply (of outdated, oversized housing) and demand. The sharing economy, Orsi believes, could even address urban crime, through the stability of social networks that it will spawn and the greater number of people it will be able to provide for. Orsi says, “It’s going to just completely change how cities visualize their space and visualize their problems and how to solve them.” Trouble is, the existing American city wasn’t built for the sharing economy. Our cities have been designed to separate out the functions of our lives, with residential and commercial zones, consumers and producers clearly demarcated. The sharing economy upends all of that.

Image: Daniel Harris “The reality is that if D.C. swells from a place where there are 500,000 people in 2010 to a place where there are 850,000 in 2020, well, what are we doing with those 350,000 extra people?” Singer asks. “A lot of the sharing economy just has to do with the number of people living per square foot of land. It’s all about physical space.” The rise of the so-called sharing economy has been chalked up to many things: Millennials rejecting car ownership, the environmentally conscious glomming onto the latest eco-trend, even broke urbanites who will want all their own stuff again as soon as the economy recovers.

But she predicts that services meeting the needs of both sides of a market — the givers and receivers in sharing — will succeed. Airbnb, for instance, helps homeowners and also increasingly serves a freelance work force as prone to temporarily changing cities as jobs. Some physical goods — maybe not dogs or toilets — are exchanging hands in the shared economy, too. There actually is someone in Manhattan on SnapGoods offering whoopee-pie makers (includes a recipe book!). But the shared economy of stuff works best with assets that are expensive to own and infrequently used, like camera and music accessories, or high-end home tools. SnapGoods sells itself with the slogan “Own less, do more,” a nod to the idea that our culture increasingly values the accumulation of experiences over assets (if you don’t own a high-end camera with multiple lenses and tripods, maybe you can afford to take a trip to Yosemite as an amateur photographer with borrowed gear).


pages: 240 words: 78,436

Open for Business Harnessing the Power of Platform Ecosystems by Lauren Turner Claire, Laure Claire Reillier, Benoit Reillier

Airbnb, Amazon Mechanical Turk, Amazon Web Services, augmented reality, autonomous vehicles, barriers to entry, basic income, blockchain, carbon footprint, Chuck Templeton: OpenTable:, cloud computing, collaborative consumption, commoditize, crowdsourcing, Diane Coyle, disintermediation, distributed ledger, future of work, George Akerlof, independent contractor, intangible asset, Internet of things, Jean Tirole, Jeff Bezos, Kickstarter, knowledge worker, Lean Startup, Lyft, Mark Zuckerberg, market design, Metcalfe’s law, minimum viable product, multi-sided market, Network effects, Paul Graham, peer-to-peer lending, performance metric, Peter Thiel, platform as a service, price discrimination, profit motive, ride hailing / ride sharing, Sam Altman, self-driving car, shareholder value, sharing economy, Silicon Valley, Skype, smart contracts, Snapchat, software as a service, Steve Jobs, Steve Wozniak, TaskRabbit, The Market for Lemons, Tim Cook: Apple, transaction costs, two-sided market, Uber and Lyft, uber lyft, universal basic income, Y Combinator

Snapchat is a well-known and fast-growing communications platform that famously turned down a multibillion-dollar offer from Facebook in 2014. Stripe is a fastgrowing payment platform for e-commerce merchants. Platforms power the sharing economy movement Lastly, platforms are at the heart of the emerging ‘sharing economy’ since many enable the redistribution, sharing and/or reuse of excess capacity in goods and services. The term ‘sharing economy’, which was first introduced in 2010, describes a ‘social revolution’ based on the ‘sharing of resources across multiple platforms’ in a way that creates values for all participants.16 eBay was an early precursor of this trend by allowing people to resell their little-used assets directly and easily, but many other companies have followed suit.

In the meantime, and irrespective of market volatility, it is interesting to see overall patterns of value creation around platform businesses. The meteoric rise of platform businesses 19 16 See early definitions of the sharing economy in R. Botsman and R. Rogers, What’s Mine Is Yours: The Rise of Collaborative Consumption, New York: Harper Business, 2010. More recently, A. Stephany, The Business of Sharing, London: Palgrave Macmillan, 2015. 17 www.justpark.com/creative/sharing-economy-index/, February 2016. Chapter 3 What is a platform business? Narrowing the search: platform definitions The very definition of what is a platform business is fraught with difficulty.

Lastly, we see significant transferable skills from one platform to another, even across industries, and we are starting to see talents able to build on their experiences with ‘platform careers’ spanning multiple firms. Our own corporate and consulting experience at Launchworks strongly points to the importance of having senior individuals able to build and deploy cross-industry platform knowledge. The platform-powered ‘sharing economy’ Platforms powering sharing economy activities will undoubtedly continue their expansion. Today, they can be classified into five broad categories: • The sharing of goods, from recirculation of second-hand goods (eBay or Craiglist) to shared usage (Drivy and Turo for peer-to-peer car rentals, The future of platforms • • • • 209 BlaBlaCar for car-sharing trips, Airbnb for home rentals, Love Home Swap for home exchanges).


pages: 364 words: 99,897

The Industries of the Future by Alec Ross

23andMe, 3D printing, Airbnb, algorithmic bias, 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, John Markoff, Joi Ito, Kickstarter, knowledge economy, knowledge worker, lifelogging, litecoin, M-Pesa, Marc Andreessen, Mark Zuckerberg, Mikhail Gorbachev, mobile money, money: store of value / unit of account / medium of exchange, Nelson Mandela, new economy, offshore financial centre, open economy, Parag Khanna, paypal mafia, peer-to-peer, peer-to-peer lending, personalized medicine, Peter Thiel, precision agriculture, pre–internet, RAND corporation, Ray Kurzweil, recommendation engine, ride hailing / ride sharing, Rubik’s Cube, Satoshi Nakamoto, selective serotonin reuptake inhibitor (SSRI), 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, The Future of Employment, Travis Kalanick, underbanked, Vernor Vinge, Watson beat the top human players on Jeopardy!, women in the workforce, Y Combinator, young professional

She has done business with people all over America, none of whom she has met but all of whom she trusts because of algorithm-generated trust. The next leap forward in the code-ification of trust and markets is in the so-called sharing economy. I think of the sharing economy as a way of making a market out of anything and a microentrepreneur out of anybody. The sharing economy uses a combination of technology platforms packaged as apps on mobile phones, behavioral science, and mobile phone location data to create peer-to-peer marketplaces. These marketplaces take underused assets (e.g., an empty apartment, empty seats in a car, or skill as a math tutor) and connect them with people looking for a specific service.

While the idea that Airbnb is bringing people from around the world together is cute, it masks the economic reality. Airbnb has succeeded in bringing eBay’s trust-through-algorithms-and-ratings model to lodging and built a business around it. Nobody is really sharing anything in the sharing economy. You can call it the sharing economy, but don’t forget your credit card. At last measure, the estimated size of the global sharing economy was $26 billion, and it’s growing fast, with some estimates projecting it will be more than 20 times larger in size by 2025. Part of why Chesky’s story is cloying is that Airbnb is now a destination for castles in addition to couches.

In some cases, the sharing economy has turned what might have once been a casual favor into a financial transaction. That is hardly the stuff of “sharing.” In most cases, sharing-economy businesses are just businesses. Brian and Joe didn’t share their spare air mattresses; they rented them out. To the extent that there is an underlying ideology, it is not about sharing or creating community around the breakfast table; it is the economic theory of neoliberalism, encouraging the free flow of goods and services in a market without government regulation. One company that seems to recognize the sharing economy has nothing to do with sharing is Uber.


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

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.

Jon Henley, “Sweden Leads the Race to Become Cashless Society,” The Guardian,, June 4, 2016, https://www.theguardian.com/business/2016/jun/04/sweden-cashless-society-cards-phone-apps-leading-europe (accessed June 27, 2019). 40. “Sharing Economy,” Wikipedia, https://en.wikipedia.org/wiki/Sharing_economy (accessed June 27, 2019). 41. Arun Sundararajan, The Sharing Economy (Cambridge, Mass.: The MIT Press, 2016), 27. 42. Paul Barter, “‘Cars Are Parked 95% of the Time.’ Let’s Check!,” Reinventing Parking, February 22, 2013, http://www.reinventingparking.org/2013/02/cars-are-parked-95-of-time-lets-check.html (accessed June 27, 2019). 43.

A MATTER OF RATIOS Office space, temporary accommodations, and vacation rentals are another area where capital assets are underutilized, and the sharing economy is ready to help. If you are looking for vacation rentals, Airbnb is just one of many services that you can use. Tripping.com has more than 8 million vacation properties listed. Tripping.com competes with Flip-Key, Roomorama, VacayHero, and Wimdu.52 ShareDesk lets you find on-demand workspace in more than four hundred cities.53 A sharing economy service or equivalent exists for just about anything you can think of. That includes sharing people as well. If you want to hire freelance labor for everyday work, TaskRabbit is operating in approximately thirty cities.


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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

As we saw in Chapter 1, these services typically take advantage of the web and social media to enable ordinary people to monetise their time, space, knowledge or skills. The sharing economy contributes to environmental sustainability because it reduces individual consumption by allowing, for instance, four people to share the same car rather than having to buy four different cars. The sharing economy also reduces waste by making excess capacity and unused resources available to those who need them most. By enabling products and assets to be fully utilised, the sharing economy increases their value. Although sharing in the UK accounts for only 1.3% of GDP, and an even smaller proportion of the US economy, it is expected to grow exponentially in coming years, especially given the preference of young consumers to share everything from flats to cars to books.

Similarly, Uber, a taxi service that connects users with drivers at the tap of a smartphone, has recently launched an extension called uberPOP in several European capitals. uberPOP is a peer-to-peer service that enables non-professional drivers to register their cars to transport individuals, thus earning extra income in their free time. The initial value of the sharing economy – powered by providers like Airbnb and Uber – was in saving customers money; now it is being used to earn money by turning customers into prosumers. In 2013, the sharing economy generated revenues of around $3.5 billion, that went straight into prosumers’ wallets. This is just the start. Growing at an annual rate of 25%, the sharing economy is expected to become a $110 billion market within a decade, without requiring any major investments. The European Commission predicts:8 At this rate, peer-to-peer sharing is transforming from an income boost through a stagnant wage market, into a disruptive economic force.

By reusing materials again and again, through multiple production cycles, and by adopting the resource-efficient design principles of biomimicry, companies are able to significantly reduce their supply chain costs and pass these savings on to customers. 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.


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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

Claire Cain Miller, “Google Grapples with Mobile,” International New York Times, October 19–20, 2013, 14. 93. Ibid. 94. “National Study Quantifies the ‘Sharing Economy’ Movement,” PRNewswire, February 8, 2012, http://www.prnewswire.com/news-releases/national-study-quantifies-the-sharing-econo my-movement-138949069.html (accessed March 19, 2013). 95. Neal Gorenflo, “The New Sharing Economy,” Shareable, December 24, 2010, http://www.share able.net/blog/the-new-sharing-economy (accessed March 19, 2013). 96. Bryan Walsh, “10 Ideas that Will Change the World: Today’s Smart Choice: Don’t Own. Share,” Time, March 17, 2011, http://www.time.com/time/specials/packages/article/0,28804,20 59521_2059717,00.html (accessed March 19, 2013). 97.

The distributed, collaborative nature of the Internet allowed millions of people to find the right match-ups to share whatever they could spare with what others could use. The sharing economy was born. This is a different kind of economy—one far more dependent on social capital than market capital. And it’s an economy that lives more on social trust rather than on anonymous market forces. Rachel Botsman, an Oxford- and Harvard-educated former consultant to GE and IBM who abandoned her career to join the new sharing economy, describes the path that led up to collaborative consumption. She notes that the social Web has passed through three phases—the first enabled programmers to freely share code; Facebook and Twitter allowed people to share their lives; and YouTube and Flickr allowed people to share their creative content.

While empathy for others had been decreasing and materialism was becoming more rampant with each passing year, the trend suddenly turned around after 2008 among young millennials, who reported “more concern for others and less interest in material goods.”26 The new studies find that millennials are less interested in keeping up with materialistic trends and less invested in obsessive consumerism as a way of life. These findings dovetail with the sharp rise of collaborative consumption and the sharing economy. All over the world, a younger generation is sharing bikes, automobiles, homes, clothes, and countless other items and opting for access over ownership. A growing number of millennials are eschewing designer brands in favor of generics and cause-oriented brands and are far more interested in the use value of material things than their exchange value or status. A sharing economy of collaborative prosumers is, by its very nature, a more empathic and less materialistic one. The waning of the materialistic ethos is also reflected in the increasing commitment to sustainability and environmental stewardship.


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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

v=xpg4PjGtbu0; her call was echoed in Brian Van Slyke and David Morgan, “The ‘Sharing Economy’ Is the Problem,” Grassroots Economic Organizing (July 3, 2015); see a directory of North American tech worker co-ops at techworker.coop and coops.tech for the UK; for accounts of the rationale for tech co-ops, see Brian Van Slyke, “The Argument for Worker-Owned Tech Collectives,” Fast Company (November 20, 2013), and Gabrielle Anctil, “Can Coops Revolutionize the Tech Industry?” Model View Culture 34 (March 16, 2016). 16. Nathan Schneider, “Owning Is the New Sharing,” Shareable (December 21, 2014); Trebor Scholz, “Platform Cooperativism vs. the Sharing Economy” (December 5, 2014), medium.com/@trebors/platform-cooperativism-vs-the-sharing-economy-2ea737f1b5ad. See also Scholz’s subsequent, fuller account of the concept in his pamphlet Platform Cooperativism: Challenging the Corporate Sharing Economy (Rosa Luxemburg Stiftung, 2016), as well as the collective manifesto he and I coedited, Ours to Hack and to Own: The Rise of Platform Cooperativism, a New Vision for the Future of Work and a Fairer Internet (OR Books, 2016).

The best-selling futurist handbook of the same period, John Naisbitt’s Megatrends, likewise promised that “the computer will smash the pyramid,” and with its networks “we can restructure our institutions horizontally.”16 What we’ve gotten instead are apps from online monopolies accountable to their almighty stock tickers. The companies we allow to manage our relationships expect that we pay with our personal data. The internet’s so-called sharing economy requires its permanently part-time delivery drivers and content moderators to relinquish rights that used to be part of the social contracts workers could expect. Yet a real sharing economy has been at work all along. During the 2016 International Summit of Cooperatives in Quebec, I attended a dinner at the Château Frontenac, a palatial hotel that casts its glow across the old city.

By October 2014, Janelle Orsi of the Sustainable Economies Law Center, in Oakland, promulgated a cartoon video online that called for “the next sharing economy”—a sharing of cooperative ownership. Orsi was also helping to design the bylaws for Loconomics Cooperative, a gig platform owned by gig workers. Small web-development shops were finding worker-ownership a congenial means of attracting talent and distinguishing themselves in a crowded industry.15 Three people I met in Paris at OuiShareFest that summer were gesturing in the same directions during the months afterward. Venture capitalist Lisa Gansky had been nudging sharing-economy startups to understand and imitate cooperative tradition.


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Ghost Work: How to Stop Silicon Valley From Building a New Global Underclass by Mary L. Gray, Siddharth Suri

Affordable Care Act / Obamacare, Amazon Mechanical Turk, augmented reality, autonomous vehicles, barriers to entry, basic income, big-box store, bitcoin, blue-collar work, business process, business process outsourcing, call centre, Capital in the Twenty-First Century by Thomas Piketty, cloud computing, collaborative consumption, collective bargaining, computer vision, corporate social responsibility, crowdsourcing, data is the new oil, deindustrialization, deskilling, don't be evil, Donald Trump, Elon Musk, employer provided health coverage, en.wikipedia.org, equal pay for equal work, Erik Brynjolfsson, financial independence, Frank Levy and Richard Murnane: The New Division of Labor, future of work, gig economy, glass ceiling, global supply chain, hiring and firing, ImageNet competition, independent contractor, industrial robot, informal economy, information asymmetry, Jeff Bezos, job automation, knowledge economy, low skilled workers, low-wage service sector, market friction, Mars Rover, natural language processing, new economy, passive income, pattern recognition, post-materialism, post-work, race to the bottom, Rana Plaza, recommendation engine, ride hailing / ride sharing, Ronald Coase, Second Machine Age, sentiment analysis, sharing economy, Shoshana Zuboff, side project, Silicon Valley, Silicon Valley startup, Skype, software as a service, speech recognition, spinning jenny, Stephen Hawking, The Future of Employment, The Nature of the Firm, Tragedy of the Commons, transaction costs, two-sided market, union organizing, universal basic income, Vilfredo Pareto, women in the workforce, Works Progress Administration, Y Combinator, Yochai Benkler

[back] 13. Arun Sundararajan, The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism (Cambridge, MA: MIT Press, 2016); Airi Lampinen et al., “Studying the ‘Sharing Economy’: Perspectives to Peer-to-Peer Exchange,” in Proceedings of the 18th ACM Conference Companion on Computer Supported Cooperative Work & Social Computing (New York: ACM, 2015), 117–21, https://doi.org/10.1145/2685553.2699339; Juliet Schor, “Debating the Sharing Economy,” Great Transition Initiative, October 2014, http://www.greattransition.org/publication/debating-the-sharing-economy; Schor et al., “Paradoxes of Openness and Distinction in the Sharing Economy,” Poetics 54 (2016): 66–81.

Scholz, Trebor. Uberworked and Underpaid: How Workers Are Disrupting the Digital Economy. Cambridge, England: Polity, 2016. Schor, Juliet B. “Debating the Sharing Economy.” Great Transition Initiative, October 2014. http://www.greattransition.org/publication/debating-the-sharing-economy. Schor, Juliet B., Connor Fitzmaurice, Lindsey B. Carfagna, Will Attwood-Charles, and Emilie Dubois Poteat. “Paradoxes of Openness and Distinction in the Sharing Economy.” Poetics 54 (2016): 66–81. Schor, Juliet B., and Craig J. Thompson. Sustainable Lifestyles and the Quest for Plenitude: Case Studies of the New Economy.

., “Paradoxes of Openness and Distinction in the Sharing Economy,” Poetics 54 (2016): 66–81. [back] 14. Kristofer Erickson and Inge Sørensen, “Regulating the Sharing Economy,” Internet Policy Review 5, no. 3 (June 30, 2016), https://doi.org/10.14763/2016.2.414; Juho Hamari, Mimmi Sjöklint, and Antti Ukkonen, “The Sharing Economy: Why People Participate in Collaborative Consumption,” Journal of the Association for Information Science and Technology, 2015; Aaron Smith, Shared, Collaborative, and On Demand. [back] 15. “We believe the new economy is creating opportunities to reinvent work, but we need to ensure the end goal is work that is good for workers.”


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Gigged: The End of the Job and the Future of Work by Sarah Kessler

Affordable Care Act / Obamacare, Airbnb, Amazon Mechanical Turk, basic income, bitcoin, blockchain, business cycle, call centre, cognitive dissonance, collective bargaining, crowdsourcing, David Attenborough, Donald Trump, East Village, Elon Musk, financial independence, future of work, game design, gig economy, income inequality, independent contractor, information asymmetry, Jeff Bezos, job automation, law of one price, Lyft, Mark Zuckerberg, market clearing, minimum wage unemployment, new economy, payday loans, post-work, profit maximization, QR code, race to the bottom, ride hailing / ride sharing, Second Machine Age, self-driving car, shareholder value, sharing economy, Silicon Valley, Snapchat, TaskRabbit, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, union organizing, universal basic income, working-age population, Works Progress Administration, Y Combinator

December 21, 2013. http://www.nytimes.com/2013/12/22/opinion/sunday/friedman-how-to-monetize-your-closet.html; Geron, Tomio. Airbnb and the Unstoppable Rise of the Share Economy. Forbes. February 11, 2013. http://www.forbes.com/sites/tomiogeron/2013/01/23/airbnb-and-the-unstoppable-rise-of-the-share-economy/#463a65b6790b. 14   Johnson, Justin Elof. Will You Leave Your Job to Join the Sharing Economy? VentureBeat. January 21, 2013. http://venturebeat.com/2013/01/21/will-you-leave-your-job-to-join-the-sharing-economy/. 15   Manjoo, Farhad. Uber’s Business Model Could Change Your Work. New York Times. January 28, 2015. https://www.nytimes.com/2015/01/29/technology/personaltech/uber-a-rising-business-model.html. 16   Retelny, Daniela, Sébastien Robaszkiewicz, Alexandra To, Walter S.

New York Times columnist Thomas Friedman, among the latter camp, held that “these entrepreneurs are not the only answer for our economic woes … but they are surely part of the answer.” A Forbes cover story in 2013 explained that the sharing economy and gig economy had created “an economic revolution that is quietly turning millions of people into part-time entrepreneurs.”13 Tech journalists and bloggers, perhaps having spent too much time immersed in the optimism of entrepreneurs, typically went for full-out hype. “Will You Leave Your Job to Join the Sharing Economy?” prompted the tech blog VentureBeat in a 2013 headline.14 The article’s author had met a Lyft driver who also worked for TaskRabbit, a website on which neighbors could hire each other to complete odd jobs.

New York Times. July 20, 2016. https://www.nytimes.com/2016/07/21/business/smallbusiness/a-new-wrinkle-in-the-gig-economy-workers-get-most-of-the-money.html?_r=0. 6   Scholz, Trebor, and Nathan Schneider. The People’s Uber: Why the Sharing Economy Must Share Ownership. Fast Company. October 7, 2015. https://www.fastcompany.com/3051845/the-peoples-uber-why-the-sharing-economy-must-share-ownership. 7   Feeding America. Food Insecurity in the United States. http://map.feedingamerica.org/county/2015/overall/arkansas/county/desha. 8   Blanchflower, David G., and Andrew J. Oswald. What Makes an Entrepreneur?


pages: 533

Future Politics: Living Together in a World Transformed by Tech by Jamie Susskind

3D printing, additive manufacturing, affirmative action, agricultural Revolution, Airbnb, airport security, algorithmic bias, Andrew Keen, artificial general intelligence, augmented reality, automated trading system, autonomous vehicles, basic income, Bertrand Russell: In Praise of Idleness, bitcoin, blockchain, brain emulation, British Empire, business process, Capital in the Twenty-First Century by Thomas Piketty, cashless society, Cass Sunstein, cellular automata, cloud computing, computer age, computer vision, continuation of politics by other means, correlation does not imply causation, crowdsourcing, cryptocurrency, digital map, disinformation, distributed ledger, Donald Trump, easy for humans, difficult for computers, Edward Snowden, Elon Musk, en.wikipedia.org, Erik Brynjolfsson, Ethereum, ethereum blockchain, Filter Bubble, future of work, Google bus, Google X / Alphabet X, Googley, industrial robot, informal economy, intangible asset, Internet of things, invention of the printing press, invention of writing, Isaac Newton, Jaron Lanier, John Markoff, Joseph Schumpeter, Kevin Kelly, knowledge economy, lifelogging, Metcalfe’s law, mittelstand, more computing power than Apollo, move fast and break things, move fast and break things, natural language processing, Network effects, new economy, night-watchman state, Oculus Rift, Panopticon Jeremy Bentham, pattern recognition, payday loans, price discrimination, price mechanism, RAND corporation, ransomware, Ray Kurzweil, Richard Stallman, ride hailing / ride sharing, road to serfdom, Robert Mercer, Satoshi Nakamoto, Second Machine Age, selection bias, self-driving car, sexual politics, sharing economy, Silicon Valley, Silicon Valley startup, Skype, smart cities, Smart Cities: Big Data, Civic Hackers, and the Quest for a New Utopia, smart contracts, Snapchat, speech recognition, Steve Bannon, Steve Jobs, Steve Wozniak, Steven Levy, technological singularity, the built environment, The Structural Transformation of the Public Sphere, The Wisdom of Crowds, Thomas L Friedman, Tragedy of the Commons, universal basic income, urban planning, Watson beat the top human players on Jeopardy!, working-age population, Yochai Benkler

They’d be constantly ‘asset stripping’ their own homes in order to find things to rent out.73 This would be a particular problem in the digital lifeworld, where we already expect an imbalance between asset-haves and asset-have-nots. Moreover, it increasingly looks like the people who benefit most from the sharing economy are not the participants but the platformowners themselves: Uber, Airbnb, and the like. As Jonathan Allen explains, the early wealth effects of the sharing economy are hard to calculate but any wealth created ‘will be highly concentrated in the hands of technology founders and early investors’.74 At its heart, the sharing economy doesn’t really disrupt the Private Property Paradigm.The critical issue in the long-run, I suggest, will be what is shared. Sharing items of comfort, convenience, and amusement may help the asset-poor to make the most of what little they have, but it won’t make them any wealthier over time.

OUP CORRECTED PROOF – FINAL, 26/05/18, SPi РЕЛИЗ ПОДГОТОВИЛА ГРУППА "What's News" VK.COM/WSNWS The Wealth Cyclone 335 Sharing The ‘sharing economy’ offers another possible model of ownership for the digital lifeworld. These days, the term is used loosely to describe most forms of ‘peer-to-peer’ online transactions conducted online. The best example is Airbnb, which allows people to rent out their vacant residential properties to strangers. Sharing, with or without strings attached, is nothing new. What’s new is the scale and extent enabled by digital technology.71 At a glance, the ethos of the sharing economy resembles that of the commons. But there are a couple of key differences.

But there are a couple of key differences. First, in a commons no one strictly owns any of the stuff held in common, while in a sharing economy individuals retain the title of their property while letting others use it. Second, in the sharing economy, people tend to pay owners for their goods and services, while this would be antithetical to the ethos of the commons. The sharing model is interesting because it encourages sellers to monetize assets that would otherwise be economically useless. And it offers purchasers the benefits of possession without the associated burdens of ownership. Thinking about the digital lifeworld, one might imagine a system that enabled people to share day-to-day items using a fleet of airborne drones that shuttle goods from one place to another:72 [Let’s say] you could just snap your fingers and have something magically appear in your hand whenever you wanted it [at] no cost, and it was instantaneous.


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Tech Titans of China: How China's Tech Sector Is Challenging the World by Innovating Faster, Working Harder, and Going Global by Rebecca Fannin

Adam Neumann (WeWork), Airbnb, augmented reality, autonomous vehicles, blockchain, call centre, cashless society, Chuck Templeton: OpenTable:, cloud computing, computer vision, connected car, corporate governance, cryptocurrency, data is the new oil, Deng Xiaoping, digital map, disruptive innovation, Donald Trump, El Camino Real, Elon Musk, family office, fear of failure, glass ceiling, global supply chain, income inequality, industrial robot, Internet of things, invention of movable type, Jeff Bezos, Kickstarter, knowledge worker, Lyft, Mark Zuckerberg, megacity, Menlo Park, money market fund, Network effects, new economy, peer-to-peer lending, personalized medicine, Peter Thiel, QR code, RFID, ride hailing / ride sharing, Sand Hill Road, self-driving car, sharing economy, Shenzhen was a fishing village, Silicon Valley, Silicon Valley startup, Skype, smart cities, smart transportation, Snapchat, social graph, software as a service, South China Sea, sovereign wealth fund, speech recognition, stealth mode startup, Steve Jobs, supply-chain management, Tim Cook: Apple, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, urban planning, WeWork, winner-take-all economy, Y Combinator, young professional

Chapter 6 Face-off in AI China and the United States are racing to dominate the high-stakes AI market. China could bypass the United States with its wealth of data and quicker rollout of self-driving vehicles, facial recognition for public security, and AI technologies for fintech, edtech, and health-care startups. Chapter 7 A Shared Economy The fad in China’s booming sharing economy for hitching a ride has been very bumpy for bike-sharing startup Ofo, but ride-hailing leader Didi has had a good run in beating Uber. Now shared umbrellas, mobile chargers, and even takeout kitchens are here. Chapter 8 E-Commerce Gets Social Just when you think there’s nothing else new in e-commerce, along comes social commerce app Pinduoduo, which combines bargain shopping, games, and social sharing—and it’s very popular in China’s rural areas.

The growth was made possible by the integration of AI and big data technology into biomedicine to develop oncology media records covering all types of cancers. “This would not have been possible before” in the health-care field, said Xiadong Jiang, managing partner at Long Hill Capital. “I would never have foreseen this.” CHAPTER 7 ________________ A SHARED ECONOMY The fad in China’s booming sharing economy for hitching a ride has been very bumpy for bike-sharing startup Ofo, but ride-hailing leader Didi has had a good run in beating Uber. Now shared umbrellas, mobile chargers, and even takeout kitchens are here. An hour’s ride from Beijing’s Forbidden City to the high-tech zone Zhongguancun in the northwest of this sprawling megalopolis is the modern headquarters of Didi Chuxing, China’s ride-hailing service, which ranks among the most valuable venture-backed startups worldwide.

•Fintech: Alibaba affiliate Ant Financial is a one-stop financial services giant that uses big data and machine learning to dominate in money market funds, lending, insurance, mobile payments, wealth management, and blockchain services. •Social credit: China’s new, controversial social credit system judges a citizen’s trustworthiness through technological surveillance and encourages compliance by giving ratings that can determine access to loans, jobs, schools, and travel. •Sharing economy: China-invented business models for shared bikes, battery chargers, umbrellas, basketballs, and takeout kitchens have been popularized by dozens of startups. •Livestreaming: Video streaming sites from Baidu’s Netflix-like iQiyi and digital entertainment innovator YY are booming and creating online celebrities paid in virtual gifts by addicted viewers.


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The Upstarts: How Uber, Airbnb, and the Killer Companies of the New Silicon Valley Are Changing the World by Brad Stone

Affordable Care Act / Obamacare, Airbnb, Amazon Web Services, Andy Kessler, autonomous vehicles, Ben Horowitz, Boris Johnson, Burning Man, call centre, Chuck Templeton: OpenTable:, collaborative consumption, East Village, fixed income, Google X / Alphabet X, hockey-stick growth, housing crisis, inflight wifi, Jeff Bezos, Justin.tv, Kickstarter, Lyft, Marc Andreessen, Mark Zuckerberg, Menlo Park, Mitch Kapor, Necker cube, obamacare, Paul Graham, peer-to-peer, Peter Thiel, race to the bottom, rent control, ride hailing / ride sharing, Ruby on Rails, San Francisco homelessness, Sand Hill Road, self-driving car, semantic web, sharing economy, side project, Silicon Valley, Silicon Valley startup, Skype, South of Market, San Francisco, Startup school, Steve Jobs, TaskRabbit, Tony Hsieh, transportation-network company, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, ubercab, Y Combinator, Y2K, Zipcar

Both startups offered age-old ideas (share a vehicle, rent your home) with new twists and ended up fostering a remarkable degree of openness among people who had never previously met. In a previous decade, most of us would have stayed far away from someone’s private car or unlit home, scared by headlines about crime and by our mothers’ earnest warnings to avoid strangers. Airbnb and Uber didn’t spawn “the sharing economy,” “the on-demand economy,” or “the one-tap economy” (those labels never quite seemed to fit) so much as usher in a new trust economy, helping regular folks to negotiate transportation and accommodations in the age of ubiquitous internet access. The nearly simultaneous emergence of both companies has been striking.

It was spacious, with three bedrooms, two bathrooms, a comfortable living room, and, up the main flight of stairs, a roof terrace overlooking the golden city, which was undergoing its own momentous reinvention. At the time, the two men had no way of knowing that over the next few years, this apartment would be ground zero for a worldwide social movement and global business phenomenon called the sharing economy. Surve, a native of Mumbai, India, had used the internet to rent an airbed for eighty dollars a night during the World Design Congress, a biennial conference held by the International Council of Societies of Industrial Design, or ICSID. All the hotels in the city that week were either booked or too expensive for Surve, so he hadn’t expected much.

With cities waking up to the problems posed by people turning their homes into ad hoc hotels, Chesky’s mettle would soon be tested further. He would have to prove to suspicious lawmakers and regulators that Airbnb’s intentions were pure and that its impact on cities was constructive. It would be his most serious challenge yet and one that Travis Kalanick, Chesky’s new friend and a peer in the proliferating movement called the sharing economy, was about to face in an even more potent form. CHAPTER 7 THE PLAYBOOK Uber’s Expansion Begins I’ve never seen an entrepreneur work as hard. He lives, eats and breathes Uber. —Shervin Pishevar, e-mail to his partners at Menlo Ventures To Travis Kalanick, Uber wasn’t merely a fecund investment opportunity or a promising startup with an auspicious set of early results.


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What Algorithms Want: Imagination in the Age of Computing by Ed Finn

Airbnb, Albert Einstein, algorithmic bias, algorithmic trading, Amazon Mechanical Turk, Amazon Web Services, bitcoin, blockchain, Chuck Templeton: OpenTable:, Claude Shannon: information theory, commoditize, Credit Default Swap, crowdsourcing, cryptocurrency, disruptive innovation, Donald Knuth, Douglas Engelbart, Douglas Engelbart, Elon Musk, factory automation, fiat currency, Filter Bubble, Flash crash, game design, Google Glasses, Google X / Alphabet X, Hacker Conference 1984, High speed trading, hiring and firing, Ian Bogost, invisible hand, Isaac Newton, iterative process, Jaron Lanier, Jeff Bezos, job automation, John Conway, John Markoff, Just-in-time delivery, Kickstarter, late fees, lifelogging, Loebner Prize, Lyft, Mother of all demos, Nate Silver, natural language processing, Netflix Prize, new economy, Nicholas Carr, Norbert Wiener, PageRank, peer-to-peer, Peter Thiel, Ray Kurzweil, recommendation engine, Republic of Letters, ride hailing / ride sharing, Satoshi Nakamoto, self-driving car, sharing economy, Silicon Valley, Silicon Valley ideology, Silicon Valley startup, social graph, software studies, speech recognition, statistical model, Steve Jobs, Steven Levy, Stewart Brand, supply-chain management, TaskRabbit, technological singularity, technoutopianism, The Coming Technological Singularity, the scientific method, The Signal and the Noise by Nate Silver, The Structural Transformation of the Public Sphere, The Wealth of Nations by Adam Smith, transaction costs, traveling salesman, Turing machine, Turing test, Uber and Lyft, Uber for X, uber lyft, urban planning, Vannevar Bush, Vernor Vinge, wage slave

Little wonder that the most serious threats to these companies are not financial scandals but attacks on that trust, as when Uber was revealed to be tracking the movements of journalists, or incidents where its drivers have been arrested for sexually assaulting passengers.37 The sharing economy ultimately depends on an atomized form of intimacy, a series of fleeting, close encounters with strangers that are managed and underwritten (in emotional, financial, and liability terms) by algorithmic culture machines. While this intimacy is necessary for the sharing economy to function, it is not the primary commodity these systems are selling. The real sell is the interface itself: the experience of computationally mediated culture and its underlying algorithmic simplification and abstraction.

Uber depends on abstracting away the complexities, regulations, and established conventions of hailing a cab, turning the hired car experience into a kind of videogame. That mode of abstraction has been so successful that an entire genre of Silicon Valley startups can now be categorized as “Uber for X,” where that X is actually a double abstraction. First, we adapt Uber’s simplifying, free-agent “sharing economy” business model to another economic arena. Then we make all such arenas fungible, a variable X that can stand for any corner of the marketplace where ubiquitous computing and algorithmic services have yet to disrupt the status quo. Like Turing’s original abstraction machine, these systems extend a symbolic logic into the cultural universe that reorders minds and meanings that come into contact with them.

These companies operate in what design entrepreneur Scott Belsky calls the “interface layer,” using appealing design to clarify and rationalize messy aspects of cultural life into simple, dependable choices.32 The Interface Economy If Zynga and its cohort of game-makers have found ways to extract labor value from entertainment, the new wave of interface layer companies is reframing labor as a kind of entertainment, adopting the optimistic framing of the “sharing economy.” Their rhetoric relies on the notion of technological collaboration and just-in-time delivery: taking advantage of unused resources like empty seats in cars, unused rooms in houses, and so forth. But all of these interactions are grounded in the mediating computational layer that manages ad hoc logistics, matches buyers and sellers of services, and structures access to platforms through carefully constructed interfaces.


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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

Such a depressed labor market is essential to the sharing economy. Now paid less, forced to work part-time or be unemployed, individuals participate in the sharing economy to cover income shortfalls. Individuals renting out their houses, cars, or labor make a fraction of what they would receive in traditional full-time jobs, without any employment benefits. In the sharing economy it is “possible for a cash-flush tech start-up to have homeless workers.”10 Having ridden the globalization wave with The World Is Flat, New York Times columnist Thomas Friedman now endorses the sharing economy, celebrating new micro-entrepreneurs.

9 Peer-to-peer brokers reduce costs, decreasing the income of service providers. The sharing economy requires abundant cheap contract laborers to be available at the touch of a smartphone screen. Full-time employees with normal benefits would make the model unworkable. Comparisons to Wikipedia and open-source software are misleading. In those cases, the individuals are employed elsewhere. They contribute their services free for the joy of participation and contribution, as well as recognition as a member of a community. The sharing economy exploits low-wage workers in a weak economic environment. Despite improving economic statistics, the deterioration in real living conditions is evident.

When they locked up the social democrats, I remained silent; I was not a social democrat. 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).


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5 Day Weekend: Freedom to Make Your Life and Work Rich With Purpose by Nik Halik, Garrett B. Gunderson

Airbnb, bitcoin, Buckminster Fuller, business process, clean water, collaborative consumption, cryptocurrency, delayed gratification, diversified portfolio, en.wikipedia.org, estate planning, Ethereum, fear of failure, fiat currency, financial independence, glass ceiling, Grace Hopper, Home mortgage interest deduction, independent contractor, Isaac Newton, litecoin, Lyft, market fundamentalism, microcredit, minimum viable product, mortgage debt, mortgage tax deduction, Nelson Mandela, passive income, peer-to-peer, peer-to-peer rental, Ponzi scheme, quantitative easing, Ralph Waldo Emerson, ride hailing / ride sharing, sharing economy, side project, Skype, TaskRabbit, traveling salesman, uber lyft

Take it to the next step. In addition to the domain, also secure social media profiles that match the domain. Then, build out a simple branded website on the domain. Essentially, you are creating and selling pre-built brands and assets to business owners. The Sharing Economy Also referred to as collaborative consumption, the sharing economy is based on people sharing their access to goods and services, and coordinating this sharing via community-based online services. In this new model, people rent beds, cars, boats, and other assets directly from each other instead of owning things themselves or purchasing them from traditional retailers and service companies.

At the time of this writing, the consumer peer-to-peer rental market is valued at $26 billion.10 Harvard Business Review argues that the term “sharing economy” is a misnomer and that a more accurate term for it is “access economy.”11 We won’t split hairs. The point we want to make is that this new technology-facilitated model is a great, simple way to leverage your existing assets to earn extra money on the side. Here are just a few examples of ways you can use the sharing economy to boost your income: Airbnb Airbnb, VRBO, and other companies allow you to rent a room or your whole home to travelers, thus earning supplemental income with existing assets.

International Drive, 2007). http://sethgodin.typepad.com/seths_blog/2014/12/where-to-start.html https://en.wikipedia.org/wiki/Fiverr http://www.go-globe.com/blog/mobile-apps-usage/ http://fortune.com/2015/07/29/video-game-coach-salary/ https://en.wikipedia.org/wiki/Sharing_economy https://hbr.org/2015/01/the-sharing-economy-isnt-about-sharing-at-all Cecilia Kang, “Podcasts Are Back — and Making Money,” Washington Post, September 25, 2014. https://www.washingtonpost.com/business/technology/podcasts-are-back--and-making-money/2014/09/25/54abc628-39c9-11e4-9c9f-ebb47272e40e_story.html?


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The Corruption of Capitalism: Why Rentiers Thrive and Work Does Not Pay by Guy Standing

3D printing, Airbnb, Albert Einstein, Amazon Mechanical Turk, Asian financial crisis, asset-backed security, bank run, banking crisis, basic income, Ben Bernanke: helicopter money, Bernie Sanders, Big bang: deregulation of the City of London, bilateral investment treaty, Bonfire of the Vanities, Boris Johnson, Bretton Woods, business cycle, Capital in the Twenty-First Century by Thomas Piketty, carried interest, cashless society, central bank independence, centre right, Clayton Christensen, collapse of Lehman Brothers, collective bargaining, credit crunch, crony capitalism, crowdsourcing, debt deflation, declining real wages, deindustrialization, disruptive innovation, Doha Development Round, Donald Trump, Double Irish / Dutch Sandwich, ending welfare as we know it, eurozone crisis, falling living standards, financial deregulation, financial innovation, Firefox, first-past-the-post, future of work, Garrett Hardin, gig economy, Goldman Sachs: Vampire Squid, Growth in a Time of Debt, housing crisis, income inequality, independent contractor, information retrieval, intangible asset, invention of the steam engine, investor state dispute settlement, James Watt: steam engine, job automation, John Maynard Keynes: technological unemployment, labour market flexibility, light touch regulation, Long Term Capital Management, lump of labour, Lyft, manufacturing employment, Mark Zuckerberg, market clearing, Martin Wolf, means of production, mini-job, Money creation, Mont Pelerin Society, moral hazard, mortgage debt, mortgage tax deduction, Neil Kinnock, non-tariff barriers, North Sea oil, Northern Rock, nudge unit, Occupy movement, offshore financial centre, oil shale / tar sands, open economy, openstreetmap, patent troll, payday loans, peer-to-peer lending, Plutocrats, plutocrats, Ponzi scheme, precariat, quantitative easing, remote working, rent control, rent-seeking, ride hailing / ride sharing, Right to Buy, Robert Gordon, Ronald Coase, Ronald Reagan, Sam Altman, savings glut, Second Machine Age, secular stagnation, sharing economy, Silicon Valley, Silicon Valley startup, Simon Kuznets, sovereign wealth fund, Stephen Hawking, Steve Ballmer, structural adjustment programs, TaskRabbit, The Chicago School, The Future of Employment, the payments system, The Rise and Fall of American Growth, Thomas Malthus, Thorstein Veblen, too big to fail, Tragedy of the Commons, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, Y Combinator, zero-sum game, Zipcar

To reinforce the point, in the USA one of the founders of CrowdFlower indiscreetly revealed that ‘the firm sometimes paid workers $2 to $3 an hour, rather than the federal minimum wage of $7.25, or paid workers in points for various online reward programs and videogame credits.’38 It will be hard to prevent that sort of outcome. THE REAL SHARING ECONOMY Describing rentier platforms as the sharing economy is misleading and mischievous, allowing platforms to claim they are merely facilitating neighbourly sharing rather than providing a commercial service. One genuine sharing online community is Couchsurfing, which enables travellers to find a bed for a night offered for free by other members of the community.

If this is a ‘sharing economy’, as its advocates claim, costs as well as benefits should be shared. As an emerging ‘profession’, labour brokers should be registered and required to join an association that develops ethical codes and monitors their conduct. In the UK, work has started on a consumer trust mark for online platforms, including labour brokers, intended to promote good practice for handling consumer complaints. Minimum requirements will be set by the Skoll Centre for Social Entrepreneurship at Oxford University’s Said Business School, working in collaboration with Sharing Economy UK. This trade body, created in March 2015 by twenty-eight online businesses, includes Airbnb, car-hire service Zipcar and cleaner-booking platform Hassle.com.

Some do not charge interest but levy a flat fee. A feature of all these companies is that they require full access to their clients’ bank accounts and other personal data, which they use to determine whether to provide loans, what interest rate to charge and for how long to lend. THE PLATFORM DEBT MACHINE The misnamed ‘sharing economy’ is also fostering indebtedness. App-based taxi services, such as Uber and Lyft, have tie-ups with lenders that enable drivers to buy vehicles on credit. Big car companies are becoming involved. In January 2016, General Motors announced a deal with Lyft, under which it would supply rental vehicles to Lyft drivers.


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Mine!: How the Hidden Rules of Ownership Control Our Lives by Michael A. Heller, James Salzman

23andMe, Airbnb, Berlin Wall, British Empire, Cass Sunstein, clean water, collaborative consumption, coronavirus, Covid-19, COVID-19, crowdsourcing, Donald Trump, Downton Abbey, Elon Musk, endowment effect, estate planning, facts on the ground, Fall of the Berlin Wall, Firefox, Garrett Hardin, gig economy, Hernando de Soto, Internet of things, land tenure, Mason jar, new economy, North Sea oil, offshore financial centre, oil rush, planetary scale, race to the bottom, recommendation engine, rent control, Richard Thaler, Ronald Coase, sharing economy, Shoshana Zuboff, Silicon Valley, Silicon Valley startup, South China Sea, sovereign wealth fund, stem cell, surveillance capitalism, TaskRabbit, The future is already here, Tim Cook: Apple, Tragedy of the Commons, you are the product, Zipcar

Companies can maximize revenue by offering us just what we want right that minute. We may feel we own more, but we really don’t. Life à la Carte There is one last stop on this frontier tour of ownership: the sharing economy. In a sense, the sharing economy is the flip side of digital ownership. Instead of wrongly believing we own more than we really do, in the sharing economy we intentionally want to own less. Forget the bundle of ownership. Just give us temporary use of someone else’s good or service. We seek micro-ownership in exchange for micropayments. This is the world of twigs, not sticks.

failed hole providers: Sarah Kessler, “The ‘Sharing Economy’ Is Dead, and We Killed It,” Fast Company, September 14, 2015. “A startling number of young”: Janelle Nanos, “The End of Ownership: America’s New Sharing Economy,” Boston Magazine, April 30, 2013. “Nowadays we don’t”: Brian X. Chen, “We’re Living in a Subscriptions World. Here’s How to Navigate It,” New York Times, January 15, 2020. “Many of us are starting to rethink”: Nanos, “End of Ownership.” “Who remembers the sound”: Brooke Masters, “Winners and Losers in the Sharing Economy,” Financial Times, December 28, 2017. ABOUT THE AUTHORS Michael Heller is the Lawrence A.

There is something appealing to this idyllic vision, but it also misses a larger point. The sharing economy isn’t really about sharing; nor is it about the end of ownership. It’s about advances in ownership technology that transform who we are as citizens and consumers—just like catch shares and FastPass+, oil unitization and dynasty trusts have changed the landscape of ownership. Going forward, the intersection of micro-ownership and smartphones may upend life as thoroughly as ownership attachment and barbed wire remodeled the Great Plains. There will be surprising costs in the shift from owning things to streaming life. For starters, the sharing economy may turn out to encourage not Zen simplicity but even more conspicuous consumption.


pages: 383 words: 81,118

Matchmakers: The New Economics of Multisided Platforms by David S. Evans, Richard Schmalensee

Airbnb, Alvin Roth, big-box store, business process, cashless society, Chuck Templeton: OpenTable:, creative destruction, Deng Xiaoping, disruptive innovation, if you build it, they will come, information asymmetry, Internet Archive, invention of movable type, invention of the printing press, invention of the telegraph, invention of the telephone, Jean Tirole, John Markoff, Lyft, M-Pesa, market friction, market microstructure, mobile money, multi-sided market, Network effects, Productivity paradox, profit maximization, purchasing power parity, QR code, ride hailing / ride sharing, sharing economy, Silicon Valley, Snapchat, Steve Jobs, Tim Cook: Apple, transaction costs, two-sided market, Uber for X, uber lyft, ubercab, Victor Gruen, winner-take-all economy

With Airbnb, runners will have more choices for more convenient places to stay than ever before, and many people in Boston will have some extra income. Airbnb is one of the leaders in what’s known as the “sharing economy.” That’s one of the most popular business buzzwords of 2015. A Google search of that phrase yields more than 30 million hits. According to Google trends, there weren’t any news headlines with “sharing economy” in them before February 2010. There were a hundred in November 2015, more than twice as many as in September 2014. What’s novel and what isn’t here though? Airbnb and other companies that are part of the “sharing economy” are multisided platforms. What they have in common is that they are matching up people who have spare capacity—an extra room, a car, or a lawnmower, for example—with people who would benefit from that spare capacity.

Our five messages might sound contradictory, but they aren’t. Trust us. 1. Matchmakers have been around for millennia. Some of them were even part of the sharing economy of years past. 2. A lot of what the new market darlings do is old stuff. They just use technology to improve on things that other matchmakers have done for many years. 3. What is pioneering is that modern information and communications technologies have turbocharged the multisided platform business model. 4. The history of matchmakers suggests that today’s sharing-economy matchmakers won’t be the last to make waves. 5. Turbocharged matchmakers will transform industries. That will happen gradually over the space of decades, but in fast spurts, as innovative new matchmakers rapidly emerge and displace incumbents.

That’s why turbocharged matchmakers are behind the gales of creative destruction that are transforming industries worldwide. The End of History (?) Could this, then, be the golden age of matchmakers? It is remarkable that in the space of only about five years, companies like Airbnb and Uber have become global players in lodging and transportation. Similar sharing-economy matchmakers are popping up all over. With the turbocharged sharing economy, have matchmakers achieved their final destiny? Several millennia of experience strongly suggest otherwise. We expect that better, or at least different, matchmakers will come along and have their turn at disruption. With all due respect to the brilliant entrepreneurs behind today’s unicorns and yesterday’s huge IPOs, the telegraph was a far more important multisided platform in terms of its impact on the global economy than anything the Internet has yet spawned.


pages: 515 words: 126,820

Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World by Don Tapscott, Alex Tapscott

Airbnb, altcoin, asset-backed security, autonomous vehicles, barriers to entry, bitcoin, Bitcoin Ponzi scheme, blockchain, Blythe Masters, Bretton Woods, business process, buy and hold, Capital in the Twenty-First Century by Thomas Piketty, carbon footprint, clean water, cloud computing, cognitive dissonance, commoditize, corporate governance, corporate social responsibility, creative destruction, Credit Default Swap, crowdsourcing, cryptocurrency, disintermediation, disruptive innovation, distributed ledger, Donald Trump, double entry bookkeeping, Edward Snowden, Elon Musk, Erik Brynjolfsson, Ethereum, ethereum blockchain, failed state, fiat currency, financial innovation, Firefox, first square of the chessboard, first square of the chessboard / second half of the chessboard, future of work, Galaxy Zoo, George Gilder, glass ceiling, Google bus, Hernando de Soto, income inequality, independent contractor, informal economy, information asymmetry, intangible asset, interest rate swap, Internet of things, Jeff Bezos, jimmy wales, Kickstarter, knowledge worker, Kodak vs Instagram, Lean Startup, litecoin, Lyft, M-Pesa, Marc Andreessen, Mark Zuckerberg, Marshall McLuhan, means of production, microcredit, mobile money, money market fund, Network effects, new economy, Oculus Rift, off grid, pattern recognition, peer-to-peer, peer-to-peer lending, peer-to-peer model, performance metric, Peter Thiel, planetary scale, Ponzi scheme, prediction markets, price mechanism, Productivity paradox, QR code, quantitative easing, ransomware, Ray Kurzweil, renewable energy credits, rent-seeking, ride hailing / ride sharing, Ronald Coase, Ronald Reagan, Satoshi Nakamoto, Second Machine Age, seigniorage, self-driving car, sharing economy, Silicon Valley, Skype, smart contracts, smart grid, social graph, social intelligence, social software, standardized shipping container, Stephen Hawking, Steve Jobs, Steve Wozniak, Stewart Brand, supply-chain management, TaskRabbit, The Fortune at the Bottom of the Pyramid, The Nature of the Firm, The Wisdom of Crowds, transaction costs, Turing complete, Turing test, Uber and Lyft, uber lyft, unbanked and underbanked, underbanked, unorthodox policies, wealth creators, X Prize, Y2K, Yochai Benkler, Zipcar

Interview with Yochai Benkler, August 26, 2015. 30. Interview with David Ticoll, August 7, 2015. 31. Interview with Yochai Benkler, August 26, 2015. 32. www.nytimes.com/2013/07/21/opinion/sunday/friedman-welcome-to-the-sharing-economy.html?pagewanted=1&_r=2&partner=rss&emc=rss&. 33. Sarah Kessler, “The Sharing Economy Is Dead and We Killed It,” Fast Company, September 14, 2015; www.fastcompany.com/3050775/the-sharing-economy-is-dead-and-we-killed-it#1. 34. “Prosumers” is a term invented by Alvin Toffler in Future Shock (1980). In The Digital Economy (1994) Don Tapscott developed the concept and notion of “prosumption.” 35.

An open world where everyone can contribute to our technology infrastructure, rather than a world of walled gardens where big companies offer proprietary apps. A world where billions of excluded people can now participate in the global economy and share in its largesse. Here’s a preview. Creating a True Peer-to-Peer Sharing Economy Pundits often refer to Airbnb, Uber, Lyft, TaskRabbit, and others as platforms for the “sharing economy.” It’s a nice notion—that peers create and share in value. But these businesses have little to do with sharing. In fact, they are successful precisely because they do not share—they aggregate. It is an aggregating economy. Uber is a $65 billion corporation that aggregates driving services.

He said, “People still have to want to do it, to take the risk of doing it.”31 So get ready for blockchain Airbnb, blockchain Uber, blockchain Lyft, blockchain Task Rabbit, and blockchain everything wherever there is an opportunity for real sharing and for value creation to work together in a cooperative way and receive most of the value they create. 4. The Metering Economy Perhaps blockchain technology can take us beyond the sharing economy into a metering economy where we can rent out and meter the use of our excess capacity. One problem with the actual sharing economy, where, for example, home owners agree to share power tools or small farming equipment, fishing gear, a woodworking shop, garage or parking, and more, was that it was just too much of a hassle. “There are 80 million power drills in America that are used an average of 13 minutes,” Airbnb CEO Brian Chesky wrote in The New York Times.


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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, commoditize, conceptual framework, continuous integration, crowdsourcing, digital twin, disintermediation, disruptive innovation, 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, mass immigration, megacity, 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, Sam Altman, 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, supercomputer in your pocket, TaskRabbit, The Future of Employment, The Spirit Level, total factor productivity, transaction costs, Uber and Lyft, uber lyft, Watson beat the top human players on Jeopardy!, WikiLeaks, winner-take-all economy, women in the workforce, working-age population, Y Combinator, Zipcar

Well-known examples of the sharing economy exist in the transportation sector. Zipcar provides one method for people to share use of a vehicle for shorter periods of time and more reasonably than traditional rental car companies. RelayRides provides a platform to locate and borrow someone’s personal vehicle for a period of time. 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).

A Supercomputer in Your Pocket 7. Storage for All 8. The Internet of and for Things 9. The Connected Home 10. Smart Cities 11. Big Data for Decisions 12. Driverless Cars 13. Artificial Intelligence and Decision-Making 14. AI and White-Collar Jobs 15. Robotics and Services 16. Bitcoin and the Blockchain 17. The Sharing Economy 18. Governments and the Blockchain 19. 3D Printing and Manufacturing 20. 3D Printing and Human Health 21. 3D Printing and Consumer Products 22. Designer Beings 23. Neurotechnologies Notes Introduction Of the many diverse and fascinating challenges we face today, the most intense and important is how to understand and shape the new technology revolution, which entails nothing less than a transformation of humankind.

Some countries or institutions are already investigating the blockchain’s potential. The government of Honduras, for example, is using the technology to handle land titles while the Isle of Man is testing its use in company registration. On a broader scale, technology-enabled platforms make possible what is now called the on-demand economy (referred to by some as the sharing economy). These platforms, which are easy to use on a smart phone, convene people, assets and data, creating entirely new ways of consuming goods and services. They lower barriers for businesses and individuals to create wealth, altering personal and professional environments. The Uber model epitomizes the disruptive power of these technology platforms.


Autonomous Driving: How the Driverless Revolution Will Change the World by Andreas Herrmann, Walter Brenner, Rupert Stadler

Airbnb, Airbus A320, algorithmic bias, augmented reality, autonomous vehicles, blockchain, call centre, carbon footprint, cleantech, computer vision, conceptual framework, connected car, crowdsourcing, cyber-physical system, DARPA: Urban Challenge, data acquisition, demand response, digital map, disruptive innovation, Elon Musk, fault tolerance, fear of failure, global supply chain, industrial cluster, intermodal, Internet of things, Jeff Bezos, Lyft, manufacturing employment, market fundamentalism, Mars Rover, Masdar, megacity, Pearl River Delta, peer-to-peer rental, precision agriculture, QWERTY keyboard, RAND corporation, ride hailing / ride sharing, self-driving car, sensor fusion, sharing economy, Silicon Valley, smart cities, smart grid, smart meter, Steve Jobs, Tesla Model S, Tim Cook: Apple, uber lyft, upwardly mobile, urban planning, Zipcar

Baidu has also announced a driverless bus for the year 2018. This page intentionally left blank CHAPTER 32 THE SHARING ECONOMY TREND From a financial perspective, the cars of private users and also of many commercial users can be described as underused assets. As already explained, most privately owned cars are not even used for an hour each day. Another point is that there is only one person in most cars on many journeys, which means that the standard capacity of five seats is also underused. This is where the sharing economy comes into play as a hybrid market model in between owning and gift giving. Sharing offers the possibility to make better use of underused assets (cars) by making them accessible to a community, which in turn leads to a reduced need for ownership of those assets [132, 90, 79].

Norms and Standards 241 25. Ethics and Morals 249 PART 7 IMPACT ON VEHICLES 26. The Vehicle as an Ecosystem 261 27. Vehicle Design 265 28. Human Machine Interaction 277 29. Time, Cost and Safety 295 PART 8 IMPACT ON COMPANIES 30. Business Models 311 31. Value Chains 327 32. The Sharing Economy 341 33. The Insurance Industry 353 Contents viii PART 9 IMPACT ON SOCIETY 34. Work and Welfare 363 35. Competitiveness 367 36. Emerging Societies 377 37. Urban Development 381 PART 10 WHAT NEEDS TO BE DONE? 38. Agenda for the Auto Industry 395 39. Ten-Point Plan for Governments 401 Epilogue: Brave New World 409 Bibliography 413 Index 427 ACKNOWLEDGEMENTS This book could never have been written without the inspiring and instructive discussions we had with some special people.

Nonetheless, this generation doesn’t want to forego pleasure, so those who cannot afford, or want, to buy everything tend to swap products instead. In view of the useful lives of objects, the changed mindset initiated by Generation Y seems to make sense [4]. For example, a power drill is typically used for only 11 minutes a year, and lawn mowers are used only for a few hours every summer in many parts of the world. In a sharing economy, payment is still made using money or at least digital money but mutual trust may well turn out to be a kind of new currency. As previously explained, companies or persons could operate entire fleets of self-driving cars, primarily in urban areas. Customers would order such a car via an app, use it for a certain journey and pay a price related to the distance covered or time taken, or an agreed flat rate.


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Value of Everything: An Antidote to Chaos The by Mariana Mazzucato

"Robert Solow", activist fund / activist shareholder / activist investor, Affordable Care Act / Obamacare, Airbnb, bank run, banks create money, Basel III, Berlin Wall, Big bang: deregulation of the City of London, bonus culture, Bretton Woods, business cycle, butterfly effect, buy and hold, Buy land – they’re not making it any more, capital controls, Capital in the Twenty-First Century by Thomas Piketty, Carmen Reinhart, carried interest, cleantech, Corn Laws, corporate governance, corporate social responsibility, creative destruction, Credit Default Swap, David Ricardo: comparative advantage, debt deflation, European colonialism, fear of failure, financial deregulation, financial innovation, Financial Instability Hypothesis, financial intermediation, financial repression, full employment, G4S, George Akerlof, Google Hangouts, Growth in a Time of Debt, high net worth, Hyman Minsky, income inequality, independent contractor, index fund, informal economy, interest rate derivative, Internet of things, invisible hand, Joseph Schumpeter, Kenneth Arrow, Kenneth Rogoff, knowledge economy, labour market flexibility, laissez-faire capitalism, light touch regulation, liquidity trap, London Interbank Offered Rate, margin call, Mark Zuckerberg, market bubble, means of production, Money creation, money market fund, negative equity, Network effects, new economy, Northern Rock, obamacare, offshore financial centre, Pareto efficiency, patent troll, Paul Samuelson, peer-to-peer lending, Peter Thiel, Post-Keynesian economics, profit maximization, quantitative easing, quantitative trading / quantitative finance, QWERTY keyboard, rent control, rent-seeking, Sand Hill Road, shareholder value, sharing economy, short selling, Silicon Valley, Simon Kuznets, smart meter, Social Responsibility of Business Is to Increase Its Profits, software patent, stem cell, Steve Jobs, The Great Moderation, The Spirit Level, The Wealth of Nations by Adam Smith, Thomas Malthus, Tobin tax, too big to fail, trade route, transaction costs, two and twenty, two-sided market, very high income, Vilfredo Pareto, wealth creators, Works Progress Administration, you are the product, zero-sum game

Patents themselves should not be seen as ‘rights' (IPR), but rather as a tool with which to incentivize innovation in the sectors where they are relevant - but in such a way that the public sector also gets its return; drug prices could become ‘fairer', reflecting the collective contribution of different actors and making a healthcare system sustainable. The sharing economy would not be based on the ability of a few companies to use public infrastructure for free and the dynamics of network economies to monopolize a market. A true sharing economy must by definition respect the hard-won gains of all workers, irrespective of race, gender or ability. The eight-hour day, the weekend and holiday and sick pay fought for by workers' movements and trade unions were no less important economic innovations than antibiotics, the microchip and the Internet.

Common attribution is to Andrew Lewis, as blue_beetle on MetaFilter 2010, ‘If you're not paying for it, you're not the customer; you're the product being sold': http://www.metafilter.com/95152/Userdriven-discontent#3256046 65. M. J. Sandel, What Money Can't Buy: The Moral Limits of Markets (London and New York: Allen Lane and Farrar, Straus and Giroux, 2013). 66. Evgeny Morozov, ‘Don't believe the hype, the “sharing economy” masks a failing economy', the Guardian, 28 September 2014: http://www.theguardian.com/commentisfree/2014/sep/28/sharing-economy-internet-hype-benefits-overstated-evgeny-morozov; Evgeny Morozov, ‘Cheap cab ride? You must have missed Uber's true cost', the Guardian, 31 January 2016: http://www.theguardian.com/commentisfree/2016/jan/31/cheap-cab- ride-uber-true-cost-google-wealth-taxation 67.

., ‘Learning the meaning of a dollar: Conservation principles and the social theory of value in economic theory', Social Research 57(3) (1990), pp. 689-718. Mishan, E. J., The Costs of Economic Growth (New York: Praeger, 1967). Morozov, E., ‘Don't believe the hype, the “sharing economy” masks a failing economy', the Guardian, 28 September 2014: http://www.theguardian.com/commentisfree/2014/sep/28/sharing- economy-internet-hype-benefits-overstated-evgeny-morozov Morozov, E., ‘Silicon Valley likes to promise “digital socialism” - but it is selling a fairy tale', the Guardian, 28 February 2015. Morozov, E., ‘Where Uber and Amazon rule: Welcome to the world of the platform', the Guardian, 6 June 2015.


Bit by Bit: How P2P Is Freeing the World by Jeffrey Tucker

Affordable Care Act / Obamacare, Airbnb, airport security, altcoin, bank run, bitcoin, blockchain, business cycle, crowdsourcing, cryptocurrency, disintermediation, distributed ledger, Dogecoin, Fractional reserve banking, George Gilder, Google Hangouts, informal economy, invisible hand, Kickstarter, litecoin, Lyft, Money creation, obamacare, Occupy movement, peer-to-peer, peer-to-peer lending, QR code, ride hailing / ride sharing, Ross Ulbricht, Satoshi Nakamoto, sharing economy, Silicon Valley, Skype, TaskRabbit, the payments system, uber lyft

In short, this publication is something of a harbinger of anti-market opinion. And given its popularity, it seems to speak for a sector of opinion that is intractably opposed to all forms of market action. So what does this publication say about the sharing economy? “Uber is part of a new wave of corporations that make up what’s called the ‘sharing economy,’” writes Avi Asher-Schapiro in the strangely titled article “Against Sharing.” “The premise is seductive in its simplicity: people have skills, and customers want services. Silicon Valley plays matchmaker, churning out apps that pair workers with work.

But he does introduce one very interesting argument. “At its core,” he writes, “the sharing economy is a scheme to shift risk from companies to workers.” Here is a remarkable claim. At last, a socialist has found a reason for a corporation to exist: to bear the speculative risk of investing in an uncertain future. Why any corporation would exist at all if it could not also gain some reward and therefore survive economically is the great unanswered question. All businesses form for a reason; it is not to bear all risk and then die. It’s true that under the sharing economy, workers own the enterprise themselves. Rather than depending on the “the man” to decide wages independent of productivity, the workers make money as a direct result of the services they provide. 13 So yes, of course, with worker ownership comes the bearing of risk.

Today, the same and better knowledge is being democratized with such services as Kensho, which is bringing quant-style power to every investor and institution, essentially running a Google-style search feature for investments, giving the information it gets based on real-time experience. These are the technologies of the peer-to-peer or sharing economy. You can be a producer, a consumer, or both. It’s a different model—one characterized by the word “equipotency,” 6 meaning that the power to buy and sell is widely distributed throughout the population. It’s made possible through technology. The emergence of the app economy—an emergent order not created by government or legislation—has enabled these developments, and they are changing the world.


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Listen, Liberal: Or, What Ever Happened to the Party of the People? by Thomas Frank

Affordable Care Act / Obamacare, Airbnb, Amazon Mechanical Turk, American ideology, barriers to entry, Berlin Wall, Bernie Sanders, blue-collar work, Burning Man, centre right, circulation of elites, Clayton Christensen, collective bargaining, Credit Default Swap, David Brooks, deindustrialization, disruptive innovation, Donald Trump, Edward Snowden, Fall of the Berlin Wall, financial innovation, Frank Gehry, full employment, George Gilder, gig economy, Gini coefficient, income inequality, independent contractor, Jaron Lanier, Jeff Bezos, knowledge economy, knowledge worker, Lean Startup, mandatory minimum, Marc Andreessen, Mark Zuckerberg, market bubble, mass immigration, mass incarceration, McMansion, microcredit, mobile money, moral panic, mortgage debt, Nelson Mandela, new economy, obamacare, payday loans, Peter Thiel, Plutocrats, plutocrats, Ponzi scheme, post-industrial society, postindustrial economy, pre–internet, profit maximization, profit motive, race to the bottom, Republic of Letters, Richard Florida, ride hailing / ride sharing, Ronald Reagan, Savings and loan crisis, sharing economy, Silicon Valley, Steve Jobs, Steven Levy, TaskRabbit, Thorstein Veblen, too big to fail, Travis Kalanick, Uber for X, union organizing, urban decay, WeWork, women in the workforce, Works Progress Administration, young professional

Jobs then forwarded Schmidt’s email around with this comment appended: “:)”19 Amazon, meanwhile, is famous for devising ways to goad its executives into fighting with one another—engaging in what the New York Times calls an “experiment in how far it can push white-collar workers”—while its blue-collar workers, often recruited through local temp agencies, are electronically tracked so that their efficiency is maximized as they go about assembling items in the company’s enormous fulfillment centers.20 For the rest of us, Amazon has come up with a nifty device for casual employment called “the Mechanical Turk,” in which tasks that can’t be done by computers are tossed to the reserve army of the millions, who receive pennies for their trouble. This last is a good introduction to the so-called sharing economy—“sharing” because you’re using your own car or apartment or computer, not your employer’s—which has been one of the few robustly growing employment opportunities of the Obama years. The magic derives from the way just about anyone can sign up at one of these sharing companies and work as a sort of temp, only hooked up with the client and employer via software, which makes it all digital and innovative and convenient. In nearly every other way, however, the sharing economy is one of the most lopsided, antiworker employment schemes to come down the pike in many years.

On the increasingly fraught matter of the sharing economy—the battle of Silicon Valley and Uber versus the workers of the world—Hillary actually tried to have it both ways in the same speech in July 2015. She first said she approved of how these new developments were “unleashing innovation,” but also allowed that she worried about the “hard questions” they raised. That was tepid, but it was not tepid enough. Republicans pounced; they harbored no reservations at all about innovation, they said. Hillary’s chief technology officer was forced to double down on her employer’s wishy-wash: “Sharing economy firms are disrupting traditional industries for the better across the globe,” she wrote, but workers still needed to be protected.

Schmidt) Humphrey, Hubert Iacocca, Lee Illich, Ivan India Indiana IndyMac Bank inequality acceleration of Bill Clinton and Decatur and Democrats and education and Hillary Clinton and innovation and Massachusetts and Obama and professional class and Rhode Island and sharing economy and technocracy and infrastructure innovation Massachusetts and rules circumvented by Intel International Math Olympiad International Women’s Day International Year of Microcredit Internet. See also Silicon Valley; technocracy In the Shadow of FDR (Leuchtenburg) investment banks Iran Iraq War Isaacson, Walter It Takes a Village (H. Clinton) Jackson, Jesse Jackson, Robert Jefferson, Thomas Jobs, Steve jobs. See also unemployment NAFTA and sharing economy and training and Johnson, Dirk Jones, Jesse Jordan, Vernon JPMorgan Judis, John Justice Department Kahn, Alfred Kalanick, Travis Kamarck, Elaine Kennedy, Robert F.


pages: 361 words: 81,068

The Internet Is Not the Answer by Andrew Keen

"Robert Solow", 3D printing, A Declaration of the Independence of Cyberspace, Airbnb, AltaVista, Andrew Keen, augmented reality, Bay Area Rapid Transit, Berlin Wall, bitcoin, Black Swan, Bob Geldof, Burning Man, Cass Sunstein, citizen journalism, Clayton Christensen, clean water, cloud computing, collective bargaining, Colonization of Mars, computer age, connected car, creative destruction, cuban missile crisis, David Brooks, disintermediation, disruptive innovation, Donald Davies, Downton Abbey, Edward Snowden, Elon Musk, Erik Brynjolfsson, Fall of the Berlin Wall, Filter Bubble, Francis Fukuyama: the end of history, Frank Gehry, Frederick Winslow Taylor, frictionless, full employment, future of work, gig economy, global village, Google bus, Google Glasses, Hacker Ethic, happiness index / gross national happiness, income inequality, index card, informal economy, information trail, Innovator's Dilemma, Internet of things, Isaac Newton, Jaron Lanier, Jeff Bezos, job automation, Joi Ito, Joseph Schumpeter, Julian Assange, Kevin Kelly, Kickstarter, Kodak vs Instagram, Lean Startup, libertarian paternalism, lifelogging, Lyft, Marc Andreessen, Mark Zuckerberg, Marshall McLuhan, Martin Wolf, Metcalfe’s law, move fast and break things, move fast and break things, Nate Silver, Nelson Mandela, Network effects, new economy, Nicholas Carr, nonsequential writing, Norbert Wiener, Norman Mailer, Occupy movement, packet switching, PageRank, Panopticon Jeremy Bentham, Paul Graham, peer-to-peer, peer-to-peer rental, Peter Thiel, Plutocrats, plutocrats, Potemkin village, precariat, pre–internet, RAND corporation, Ray Kurzweil, ride hailing / ride sharing, Robert Metcalfe, San Francisco homelessness, Second Machine Age, self-driving car, sharing economy, Silicon Valley, Silicon Valley ideology, Skype, smart cities, Snapchat, social web, South of Market, San Francisco, Steve Jobs, Steve Wozniak, Steven Levy, Stewart Brand, TaskRabbit, Ted Nelson, telemarketer, The future is already here, The Future of Employment, the medium is the message, the new new thing, Thomas L Friedman, Travis Kalanick, Tyler Cowen: Great Stagnation, Uber for X, uber lyft, urban planning, Vannevar Bush, Whole Earth Catalog, WikiLeaks, winner-take-all economy, working poor, Y Combinator

As with the Web, Andreessen says, the more people who use the new currency, “the more valuable Bitcoin is for the people who use it.”107 “A mysterious new technology emerges, seemingly out of nowhere, but actually the result of two decades of intense research and development by nearly anonymous researchers,” writes Andreessen, predicting the historical significance of this networked currency. “What technology am I talking about? Personal computers in 1975, the Internet in 1993, and—I believe—Bitcoin in 2014.”108 What Silicon Valley euphemistically calls the “sharing economy” is a preview of this distributed capitalism system powered by the network effect of positive feedback loops. Investors like Andreessen see the Internet—a supposedly hyperefficient, “frictionless” platform for buyers and sellers—as an upgrade to the structural inefficiencies of the top-down twentieth-century economy.

Not merely content to give their own stuff away for nothing, Napster gave away everybody else’s as well. Along with other peer-to-peer networks like Travis Kalanick’s Scour and later pirate businesses such as Megaupload, Rapidshare, and Pirate Bay, Napster created a networked kleptocracy, masquerading as the “sharing economy,” in which the only real abundance was the ubiquitous availability of online stolen content, particularly recorded music. Over the last fifteen years, online piracy has become an epidemic. In a 2011 report sponsored by the U.S. Chamber of Commerce, it was estimated that piracy sites attracted 53 billion visits each year.6 In January 2013 alone, the analyst firm NetNames estimated that 432 million unique Web users actively searched for content that infringes copyright.7 A 2010 Nielsen report estimated that 25% of all European Internet users visit pirate sites each month,8 while a 2012 study funded by the United Kingdom’s Intellectual Property Office found that 1 in 6 of all British Web users regularly accessed illegally streamed or downloaded content.9 Such “abundance” has had a particularly catastrophic economic impact on the music industry.

As Robert Levine, Billboard’s former executive editor and author of the meticulously researched 2011 book Free Ride, argues, “The real conflict online is between the media companies that fund much of the entertainment we read, see and hear and the technology firms that want to distribute their content—legally or otherwise.”21 And it’s this struggle between an entertainment industry that, to survive, needs to be paid for its expensive content and an Internet built around the utopian idea that “information wants to be free,” Levine argues, that is “breaking” the Internet.22 Many of today’s multibillion-dollar Internet companies are complicit in the piracy epidemic. “Free” social networks like Facebook, Twitter, Tumblr, and Instagram, for example, have spurred the growth of the distribution of unlicensed content. What is left of the photography industry is particularly vulnerable to this kind of “sharing” economy. Because much of the content on these social networks isn’t accessible to the general public and instead is shared only between individuals, photographers find it nearly impossible to stop this form of unlicensed content use or even to accurately measure the extent of the illegal activity. As the American Society of Media Photographers notes, this problem has been compounded because networks like Instagram, Tumblr, and Facebook make very little effort to warn their members against the illegal sharing of images.23 Then there’s the Google problem.


pages: 327 words: 84,627

The Green New Deal: Why the Fossil Fuel Civilization Will Collapse by 2028, and the Bold Economic Plan to Save Life on Earth by Jeremy Rifkin

1919 Motor Transport Corps convoy, 2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, American Society of Civil Engineers: Report Card, autonomous vehicles, Bernie Sanders, blockchain, borderless world, business cycle, business process, carbon footprint, collective bargaining, corporate governance, corporate social responsibility, creative destruction, decarbonisation, en.wikipedia.org, energy transition, failed state, ghettoisation, hydrogen economy, impact investing, information asymmetry, intangible asset, Intergovernmental Panel on Climate Change (IPCC), Internet of things, invisible hand, Joseph Schumpeter, means of production, megacity, Network effects, new economy, off grid, oil shale / tar sands, peak oil, planetary scale, renewable energy credits, Ronald Reagan, shareholder value, sharing economy, Silicon Valley, Skype, smart cities, smart grid, sovereign wealth fund, Steven Levy, the built environment, The Wealth of Nations by Adam Smith, Tim Cook: Apple, trade route, union organizing, urban planning, women in the workforce, zero-sum game

Millions of individuals are constructing the knowledge of the world and sharing it on Wikipedia, a nonprofit website that is the fifth-most-trafficked website, all for free.2 The sharing of a range of virtual and physical goods is the cornerstone of an emerging circular economy, allowing the human race to use far less of the resources of the Earth while passing on what they no longer use to others and, by doing so, dramatically reducing carbon emissions. The Sharing Economy is a core feature of the Green New Deal era. The Sharing Economy is now in its infancy and is going to evolve in many directions. But this much is assured: The Sharing Economy is a new economic phenomenon made possible by the digital infrastructure of communication, energy, and mobility that is changing economic life. To this extent, the Sharing Economy is the first new economic system to enter onto the world stage since capitalism and socialism in the eighteenth and nineteenth centuries.

In provider/user networks, industries and sectors are replaced by “specialized competencies” that come together on platforms to manage the uninterrupted flow of goods and services in smart networks, returning sufficient profit, even at low margins, by the 24/7 continuous traffic across the system. Margins for some goods and services, however, shrink so low “toward zero” that profits are no longer viable even in capitalist networks because the goods and services produced and distributed are nearly free. This is already occurring and giving rise to a new phenomenon—the Sharing Economy. At any given time of the day, hundreds of millions of people around the world are producing and sharing their own music, YouTube videos, social media, and research. Some are taking massive open online courses (MOOCs), taught by professors at the best universities, and often receiving college credit, for free.

The goal is to work with a full range of transportation partners to develop seamless mobility services that can partner Ford’s autonomous self-driving electric vehicles with public transportation, bike-sharing and scooter-sharing services, and pedestrian walkways to ferry passengers and goods effortlessly, passing them off between the various modes of transportation to final destinations, with the objective of reducing congestion and carbon emissions.8 I joined Mark Fields, then CEO of Ford, in January 2017 on the opening day of the North American Auto Show in Detroit to introduce the new business model. Ford went on to sponsor the premiere of the film that our office coproduced with Vice Media, The Third Industrial Revolution: A Radical New Sharing Economy, at the Tribeca Film Festival and sponsored subsequent premieres of the film in Miami, San Francisco, and Los Angeles. The erection of the autonomous Mobility and Logistics Internet transforms the very way we view passenger mobility. Today’s youth are using mobile communication technology and GPS guidance on an incipient Mobility and Logistics Internet to connect with willing drivers in car-sharing services.


pages: 374 words: 97,288

The End of Ownership: Personal Property in the Digital Economy by Aaron Perzanowski, Jason Schultz

3D printing, Airbnb, anti-communist, barriers to entry, bitcoin, blockchain, carbon footprint, cloud computing, conceptual framework, crowdsourcing, cryptocurrency, Donald Trump, Edward Snowden, en.wikipedia.org, endowment effect, Firefox, George Akerlof, Hush-A-Phone, independent contractor, information asymmetry, intangible asset, Internet Archive, Internet of things, Isaac Newton, loss aversion, Marc Andreessen, means of production, minimum wage unemployment, new economy, peer-to-peer, price discrimination, Richard Thaler, ride hailing / ride sharing, rolodex, self-driving car, sharing economy, Silicon Valley, software as a service, software patent, software studies, speech recognition, Steve Jobs, subscription business, telemarketer, The Market for Lemons, transaction costs, winner-take-all economy

Although important in their own right, these are all examples of a much broader and deeper cultural shift away from ownership. We see evidence of this transformation in the emergence of the so-called “sharing economy.” For those unfamiliar with the term, it refers broadly to services and business models that enable individuals and organizations to share, rent, and reuse resources, often enabled by technology. If you’ve ever gotten a ride in an Uber or spent the night in an Airbnb rental, you’ve taken part in the sharing economy. The range of goods and services in the sharing economy is staggering. In addition to rides and apartments, there are platforms for renting parking spots, bicycles, private planes, and clothes.

But we need to be fully aware of the bargains we are striking. There are losers in the sharing economy, and they aren’t just legacy taxi companies and expensive hotels. The savings Airbnb users realize and the company’s profits are in part the result of externalities—costs that Airbnb and its users aren’t bearing. In cities big and small, there is evidence that Airbnb contributes to rent increases for residents.2 As more housing units are devoted to the sharing economy, fewer are available for locals to rent. Long-term renters have even been evicted to make room for vacationers.3 The unseen costs of the sharing economy are also borne by the increasing number of workers classified as independent contractors.

But many of the services lumped together under the “sharing economy” moniker are premised on short-term, for-profit rentals. Most are built around the exchange of money for temporary access. Some services rely on a distributed network of individual owners connecting to end users through a technology platform. Others depend on a single provider that coordinates the needs of lots of users. The rapid growth of some of these efforts has attracted lots of attention. But we rented cars, stayed in hotels, and endured rented bowling shoes long before the first iPhone app. So what is it—if anything—that makes the sharing economy “disruptive”?


pages: 344 words: 94,332

The 100-Year Life: Living and Working in an Age of Longevity by Lynda Gratton, Andrew Scott

3D printing, Airbnb, assortative mating, carbon footprint, Clayton Christensen, collapse of Lehman Brothers, creative destruction, crowdsourcing, delayed gratification, disruptive innovation, diversification, Downton Abbey, Erik Brynjolfsson, falling living standards, financial independence, first square of the chessboard, first square of the chessboard / second half of the chessboard, future of work, gender pay gap, gig economy, Google Glasses, indoor plumbing, information retrieval, intangible asset, Isaac Newton, job satisfaction, longitudinal study, low skilled workers, Lyft, Nelson Mandela, Network effects, New Economic Geography, old age dependency ratio, pattern recognition, pension reform, Peter Thiel, Ray Kurzweil, Richard Florida, Richard Thaler, risk free rate, Second Machine Age, sharing economy, side project, Silicon Valley, smart cities, Stanford marshmallow experiment, Stephen Hawking, Steve Jobs, The Future of Employment, uber lyft, women in the workforce, young professional

We expect that corporations will become more willing and adept at spotting talented independent producers, and creating a personalized relationship with them that could range from full-time employment, to part-time work, right up to buying their IP or the business itself. Travelling light The major investment of the explorer and independent producer stage is in intangible assets – particularly transformational assets. So during these periods, financing is always going to be tricky. That is why developments in the technologies of the sharing economy are so interesting.19 The sharing economy is a great way of enabling people to remain asset-light or to bring income in to finance their asset accumulation. Sharing platforms such as Airbnb, Simplest, Lyft or even Dogvacay are all examples of an emerging economy where people share capacity of assets that they may have purchased or created.

As our discussion about leisure and the working week showed, governments will need to allow for a significant range of lifestyle and work-style choices, and simple characterizations of full-time and part-time will make little sense. This is already apparent in what has been called the ‘sharing economy’. The growth of sharing businesses, such as Uber and Airbnb, has already brought to the fore complex questions such as ‘What is an employee?’ and ‘Who is responsible for benefits such as healthcare and pensions?’ In the past, trade unions have spoken for the collective rights of their members. The profiles of these unions are only just emerging in the sharing economy and we can expect more battles as the rights of these flexible workers are contested in the courts. Our discussion of transitions and partnerships is also challenging for governments.

In thinking of possible lives for Jane’s 100 years, the flexibility that the ecosystem model offers makes the prospect of self-employment at certain stages a viable option. The technology that connects an individual to companies who want to buy their skills is becoming more global, cheaper and more sophisticated. These connecting platforms are already proliferating, leading to growing commentary about the ‘gig economy’ and the ‘sharing economy’. Technological change reduces information costs and so enables buyers and sellers to find each other more easily as well as determine the reliability and quality of each other from independent sources. The gig economy refers to the idea that there will be a rising number of people earning their income not through full- or part-time employment, but rather through providing a series of specific tasks and commissions to multiple sequential buyers.


pages: 282 words: 81,873

Live Work Work Work Die: A Journey Into the Savage Heart of Silicon Valley by Corey Pein

23andMe, 4chan, affirmative action, Affordable Care Act / Obamacare, Airbnb, Amazon Mechanical Turk, Anne Wojcicki, artificial general intelligence, bank run, barriers to entry, Benevolent Dictator For Life (BDFL), Bernie Sanders, bitcoin, Bitcoin Ponzi scheme, Build a better mousetrap, California gold rush, cashless society, colonial rule, computer age, cryptocurrency, data is the new oil, disruptive innovation, Donald Trump, Douglas Hofstadter, Elon Musk, Extropian, gig economy, Google bus, Google Glasses, Google X / Alphabet X, hacker house, hive mind, illegal immigration, immigration reform, independent contractor, Internet of things, invisible hand, Isaac Newton, Jeff Bezos, job automation, Kevin Kelly, Khan Academy, Law of Accelerating Returns, Lean Startup, life extension, Lyft, Mahatma Gandhi, Marc Andreessen, Mark Zuckerberg, Menlo Park, minimum viable product, move fast and break things, move fast and break things, mutually assured destruction, obamacare, passive income, patent troll, Paul Graham, peer-to-peer lending, Peter H. Diamandis: Planetary Resources, Peter Thiel, platform as a service, Plutocrats, plutocrats, Ponzi scheme, post-work, Ray Kurzweil, regulatory arbitrage, rent control, RFID, Robert Mercer, rolodex, Ronald Reagan, Ross Ulbricht, Ruby on Rails, Sam Altman, Sand Hill Road, Scientific racism, self-driving car, sharing economy, side project, Silicon Valley, Silicon Valley startup, Singularitarianism, Skype, Snapchat, social software, software as a service, source of truth, South of Market, San Francisco, Startup school, stealth mode startup, Steve Bannon, Steve Jobs, Steve Wozniak, TaskRabbit, technological singularity, technoutopianism, telepresence, too big to fail, Travis Kalanick, tulip mania, Uber for X, uber lyft, ubercab, upwardly mobile, Vernor Vinge, X Prize, Y Combinator

“We had to straighten out this congressman here who said something real positive about the sharing economy,” he told me at one point in our conversation. “We said, ‘What the fuck? Don’t you understand what it is?’” “What did you tell him?” I asked. “We said, ‘This isn’t any sharing economy—this is taking the responsibility of employment away from employers and putting it one hundred percent on people’s backs.’” Rome’s diagnosis was so simple and succinct, even a member of Congress could understand it. Of course, such hypocrisies are not confined to the phony “sharing economy.” They span the industry. Similarly, sympathy for the tech company perspective spans American political institutions, beginning with both major parties.

“They are all at university or living their lives or having new relationships and I feel thoroughly forgotten about.” While traditional social institutions left such underemployed, undereducated young people behind, the postwork sharing economy came to the rescue by affording them the opportunity to serve as virtual strippers. Who says the tech industry doesn’t make room for women? * * * The sharing economy’s greatest success story was a YouTube celebrity for whom work and play and reality and artifice had merged beyond all recognition. There were many dubious aspects of his rise to stardom, not the least of which was his politics, beginning with the name he chose for himself: PewDiePie.

They knew that well-paid programming jobs would also soon turn to smoke and ash, as the proliferation of learn-to-code courses around the world lowered the market value of their skills, and as advances in artificial intelligence allowed for computers to take over more of the mundane work of producing software. The programmers also knew that the fastest way to win that promotion to founder was to find some new domain that hadn’t yet been automated. Every tech industry campaign designed to spur investment in the Next Big Thing—at that time, it was the “sharing economy”—concealed a larger program for the transformation of society, always in a direction that favored the investor and executive classes. In the first seven years after the 2008 crash, sixteen million people left the U.S. labor force. And in that same period, thanks to Silicon Valley’s timely opportunism, the country gained an endless bounty of gigs.


pages: 421 words: 110,406

Platform Revolution: How Networked Markets Are Transforming the Economy--And How to Make Them Work for You by Sangeet Paul Choudary, Marshall W. van Alstyne, Geoffrey G. Parker

3D printing, Affordable Care Act / Obamacare, Airbnb, Alvin Roth, Amazon Mechanical Turk, Amazon Web Services, Andrei Shleifer, Apple's 1984 Super Bowl advert, autonomous vehicles, barriers to entry, big data - Walmart - Pop Tarts, bitcoin, blockchain, business cycle, business process, buy low sell high, chief data officer, Chuck Templeton: OpenTable:, clean water, cloud computing, connected car, corporate governance, crowdsourcing, data acquisition, data is the new oil, digital map, discounted cash flows, disintermediation, Edward Glaeser, Elon Musk, en.wikipedia.org, Erik Brynjolfsson, financial innovation, Haber-Bosch Process, High speed trading, independent contractor, information asymmetry, Internet of things, inventory management, invisible hand, Jean Tirole, Jeff Bezos, jimmy wales, John Markoff, Khan Academy, Kickstarter, Lean Startup, Lyft, Marc Andreessen, market design, Metcalfe’s law, multi-sided market, Network effects, new economy, payday loans, peer-to-peer lending, Peter Thiel, pets.com, pre–internet, price mechanism, recommendation engine, RFID, Richard Stallman, ride hailing / ride sharing, Robert Metcalfe, Ronald Coase, Satoshi Nakamoto, self-driving car, shareholder value, sharing economy, side project, Silicon Valley, Skype, smart contracts, smart grid, Snapchat, software is eating the world, Steve Jobs, TaskRabbit, The Chicago School, the payments system, Tim Cook: Apple, transaction costs, Travis Kalanick, two-sided market, Uber and Lyft, Uber for X, uber lyft, winner-take-all economy, zero-sum game, Zipcar

In a two-sided market, network effects created by the impact of users from one side of the market on other users from the same side of the market—for example, the effects that consumers have on other consumers and the effects that producers have on other producers. Same-side effects can be positive or negative, depending on the design of the system and the rules put in place. Sharing economy. The growing sector of the economy in which products, services, and resources are shared among people and organizations rather than having their availability limited to one proprietor. Often facilitated by platform businesses, sharing economy systems have the potential to unlock hidden or untapped sources of value and to reduce waste. Side switching. The phenomenon of platform users from one side of the platform joining the opposite side—for example, when those who consume goods or services produced on the platform begin to produce goods and services for others to consume.

Feng Zhu and Marco Iansiti, “Entry into Platform-Based Markets,” Strategic Management Journal 33, no. 1 (2012): 88–106. 9. Jason Tanz, “How Airbnb and Lyft Finally Got Americans to Trust Each Other,” Wired, April 23, 2014, http://www.wired.com/2014/04/trust-in-the-share-economy/. 10. Arun Sundararajan, “From Zipcar to the Sharing Economy,” Harvard Business Review, January 3, 2013, https://hbr.org/2013/01/from-zipcar-to-the-sharing-eco/. 11. Dan Charles, “In Search of a Drought Strategy, California Looks Down Under,” The Salt, NPR, August 19, 2015, http://www.npr.org/sections/thesalt/2015/08/19/432885101/in-search-of-salvation-from-drought-california-looks-down-under. 12.

Kevin Boudreau and Andrei Hagiu, Platform Rules: Multi-Sided Platforms as Regulators (Cheltenham, UK: Edward Elgar, 2009), 163–89. 2. Malhotra and Van Alstyne, “The Dark Side of the Sharing Economy.” 3. Felix Gillette and Sheelah Kolhatkar, “Airbnb’s Battle for New York,” Businessweek, June 19, 2014, http://www.bloomberg .com/bw/articles/2014-06-19/airbnb-in-new-york-sharing-startup-fights-for-largest-market. 4. Ron Lieber, “A Liability Risk for Airbnb Hosts,” New York Times, December 6, 2014. 5. Georgios Zervas, Davide Proserpio, and John W. Byers, “The Rise of the Sharing Economy: Estimating the Impact of Airbnb on the Hotel Industry,” Boston University School of Management Research Paper 2013-16, http://ssrn.com/abstract=2366898. 6.


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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

It’s as if startups are out there writing algorithms to combat inefficiency and idleness by making sure that everything everyone owns is in use all the time. The platform collects its fee for putting user and provider, rider and driver, or guest and host together and enabling a new transaction where once there was none. Our assets are their new territory. Welcome to the sharing economy. Just as Lanier would have us share our data, these new companies would have us share our homes, cars, and anything else. Only it’s not really sharing; it’s selling. In fact, just as there used to be an Internet that ran entirely on “shareware,” there were originally free versions of these new asset-renting platforms.

That’s why the final indignity will be on the Uber drivers themselves, when they are replaced with the automatic cars currently in development by Uber investor Google. The app will orchestrate the movements of robot vehicles even more seamlessly than those driven by humans, and Uber’s shareholders should do just as well—even better—in this more automated future. To them, the sharing economy is less a cultural ethos than part of a strategic transition toward more fully automated solutions. Peer-to-peer is not a means of including more people as value creators but a prelude to getting rid of them—first the skilled, fairly paid ones, and then the unskilled ones who took their places.

The investors at this stage make a similar calculation, spreading their tens or hundreds of millions of dollars across a wide range of startups. They may hope to limit their downside by developing a “thesis” about the kinds of companies they think will succeed, such as “social smartphone apps,” “gamified sharing economy,” or “health, medical, and fitness entertainment.” But in the end, venture capitalists invest with low expectations of any single company surviving. Their business model is still based on the rare big winner offsetting a dozen or more losers. If they invest $10 million in a company at a valuation of $50 million, then they need that company to become worth half a billion dollars in order to see a $100 million return.


pages: 371 words: 108,317

The Inevitable: Understanding the 12 Technological Forces That Will Shape Our Future by Kevin Kelly

A Declaration of the Independence of Cyberspace, AI winter, Airbnb, Albert Einstein, Amazon Web Services, augmented reality, bank run, barriers to entry, Baxter: Rethink Robotics, bitcoin, blockchain, book scanning, Brewster Kahle, Burning Man, cloud computing, commoditize, computer age, connected car, crowdsourcing, dark matter, dematerialisation, Downton Abbey, Edward Snowden, Elon Musk, Filter Bubble, Freestyle chess, game design, Google Glasses, hive mind, Howard Rheingold, index card, indoor plumbing, industrial robot, Internet Archive, Internet of things, invention of movable type, invisible hand, Jaron Lanier, Jeff Bezos, job automation, John Markoff, Kevin Kelly, Kickstarter, lifelogging, linked data, Lyft, M-Pesa, Marc Andreessen, Marshall McLuhan, means of production, megacity, Minecraft, Mitch Kapor, multi-sided market, natural language processing, Netflix Prize, Network effects, new economy, Nicholas Carr, old-boy network, peer-to-peer, peer-to-peer lending, personalized medicine, placebo effect, planetary scale, postindustrial economy, recommendation engine, RFID, ride hailing / ride sharing, Rodney Brooks, self-driving car, sharing economy, Silicon Valley, slashdot, Snapchat, social graph, social web, software is eating the world, speech recognition, Stephen Hawking, Steven Levy, Ted Nelson, The future is already here, the scientific method, transport as a service, two-sided market, Uber for X, uber lyft, Watson beat the top human players on Jeopardy!, WeWork, Whole Earth Review, Yochai Benkler, zero-sum game

When masses of people who own the means of production work toward a common goal and share their products in common, when they contribute labor without wages and enjoy the fruits free of charge, it’s not unreasonable to call that new socialism. What they have in common is the verb “to share.” In fact, some futurists have called this economic aspect of the new socialism the “sharing economy” because the primary currency in this realm is sharing. • • • In the late 1990s, activist, provocateur, and aging hippy John Perry Barlow began calling this drift, somewhat tongue in cheek, “dot-communism.” He defined dot-communism as a “workforce composed entirely of free agents,” a decentralized gift or barter economy without money where there is no ownership of property and where technological architecture defines the political space.

He defined dot-communism as a “workforce composed entirely of free agents,” a decentralized gift or barter economy without money where there is no ownership of property and where technological architecture defines the political space. He was right about the virtual money since the content that Twitter and Facebook distribute is created by unpaid contributors—that is, users like you. And Barlow was right about the lack of ownership, as explained in the previous chapter. We see sharing economy services such as Netflix and Spotify move audiences away from owning anything. But there is one way in which “socialism” is the wrong word for what is happening: It is not an ideology, not an “ism.” It demands no rigid creed. Rather, it is a spectrum of attitudes, techniques, and tools that promote collaboration, sharing, aggregation, coordination, ad hocracy, and a host of other newly enabled types of social cooperation.

We can head out in the wilds of Amazon, Netflix, Spotify, or Google with pretty good confidence that we will uncover someone who has anticipated our most remote interests with a finished work or forum. Each niche is just one step away from a bestselling niche. Today the audience is king. But what about the creators? Who will pay them in this sharing economy? How will their creative acts be financed if the middle is gone? The surprising answer is: another new sharing technology. No method has been as beneficial to creators as crowdfunding. In crowdfunding the audience funds the work. The fans collectively finance their favorites. The technology of sharing enables the power of one fan who is willing to prepay an artist or author to be aggregated (with little effort) together with hundreds of other fans into a significant pool of money.


pages: 168 words: 50,647

The End of Jobs: Money, Meaning and Freedom Without the 9-To-5 by Taylor Pearson

"side hustle", Airbnb, barriers to entry, Ben Horowitz, Black Swan, call centre, cloud computing, commoditize, creative destruction, David Heinemeier Hansson, Elon Musk, en.wikipedia.org, Frederick Winslow Taylor, future of work, Google Hangouts, Hacker Conference 1984, Kevin Kelly, Kickstarter, knowledge economy, knowledge worker, loss aversion, low skilled workers, Lyft, Marc Andreessen, Mark Zuckerberg, market fragmentation, means of production, Oculus Rift, passive income, passive investing, Peter Thiel, remote working, Ronald Reagan: Tear down this wall, sharing economy, side project, Silicon Valley, Skype, software as a service, software is eating the world, Startup school, Steve Jobs, Steve Wozniak, Stewart Brand, telemarketer, Thomas Malthus, Uber and Lyft, uber lyft, unpaid internship, Watson beat the top human players on Jeopardy!, web application, Whole Earth Catalog

Basecamp, a multi-million dollar project management software company, was started by Jason Fried and David Heinemeier Hansson, while living in different countries and while also running a web development consultancy. But it’s not just tech companies. Rent to Own: The Sharing Economy Over the last decade, a more publicly available internet has enabled the “Sharing Economy,” which has democratized the tools of production. Technology and the internet have brought trust and transparency to markets, which lets people share existing resources and repurpose them into higher and better uses to take them from a lower to a higher area of productivity. The sharing economy has made manufacturing more efficient—you can create increased inventory without immediately needing more supply.

Let’s use the hotel industry as an example. In the past, if there weren’t enough rooms in a city for visitors, Hilton went and built a new hotel. They would pay millions of dollars for a piece of land downtown, millions of dollars to construct a hotel, and then millions of dollars to hire staff to run it. The sharing economy version of that is a company called AirBnB, which allows homeowners to post their rooms online so people coming to visit can stay in them. It’s often less expensive than a hotel and many people like getting to know a city as a resident instead of as a tourist. Let’s say Julian has a house that he owns in Dallas, Texas.

The cost of the tools needed to invest in entrepreneurship has dropped dramatically because the infrastructure has gotten so much more efficient. Let’s look at a few of the primary tools and how entrepreneurs are using them. Software as a Service (SaaS): Plug and Play Tools and Systems Software as a service has arisen primarily in the last decade and facilitates a large part of the sharing economy. Instead of having to buy expensive equipment or sign long-term contracts, entrepreneurs can buy month-to-month access to different services that they need. Previously, a new company would have had to buy accounting software that would cost hundreds of dollars. Now, instead of buying expensive accounting software, you can use a month-to-month service like Xero, which starts at $9 a month.


pages: 285 words: 58,517

The Network Imperative: How to Survive and Grow in the Age of Digital Business Models by Barry Libert, Megan Beck

active measures, Airbnb, Amazon Web Services, asset allocation, autonomous vehicles, big data - Walmart - Pop Tarts, business intelligence, call centre, Clayton Christensen, cloud computing, commoditize, crowdsourcing, disintermediation, diversification, Douglas Engelbart, Douglas Engelbart, future of work, Google Glasses, Google X / Alphabet X, independent contractor, Infrastructure as a Service, intangible asset, Internet of things, invention of writing, inventory management, iterative process, Jeff Bezos, job satisfaction, Kevin Kelly, Kickstarter, late fees, Lyft, Mark Zuckerberg, Oculus Rift, pirate software, ride hailing / ride sharing, self-driving car, sharing economy, Silicon Valley, Silicon Valley startup, six sigma, software as a service, software patent, Steve Jobs, subscription business, TaskRabbit, Travis Kalanick, uber lyft, Wall-E, women in the workforce, Zipcar

Brent Leary, “Amir Elaguizy of Cratejoy: Good Subscription Business Models Focus on Relationships Not Transactions,” Small Business Trends, August 14, 2015, http://smallbiztrends.com/2015/08/elaguizy-cratejoy-subscription-business-models.html. Principle 7, Employees 1. Travis Kalanick, “The Charms of the Sharing Economy,” Economist, The World in 2016 (single issue), November 6, 2015, http://www.theworldin.com/article/10631/charms-sharing-economy. 2. Ernst & Young, Study: Work-Life Challenges across Generations, http://www.ey.com/US/en/About-us/Our-people-and-culture/EY-work-life-challenges-across-generations-global-study. 3. Rena Rasch, “Your Best Workers May Not Be Your Employees,” IBM Smarter Workforce Institute, October 2014, http://www-01.ibm.com/common/ssi/cgi-bin/ssialias?

—PHIL COWDELL, CEO, MediaCom North America “Get ready for a future in which everyone and everything are digitally connected, marginal costs approach zero, and openness to the ideas and assets that exist around the organization matter more than sheer scale. The successful firms of the future will embrace the principles for creating network value found in this prescient book.” —GEORGE DAY, Geoffrey T. Boisi Professor, Emeritus, the Wharton School “In the new world of crowd sourcing, the sharing economy, and the internet of everything, there is no question that every business is being transformed by a networked world. In The Network Imperative, Libert, Beck, and Wind break down this twenty-first century phenomenon and offer an actionable and effective approach for any business to not only ward off disintermediation, but also to set a path for long-term success.”

PRINCIPLE 7 EMPLOYEES From Employees to Partners Employment in society has overstretched itself. —Charles Handy, author and philosopher WHEN UBER PASSED THE MILLION-DRIVER MARK (that’s right—one million drivers) in late 2015, CEO Travis Kalanick wrote in the Economist, “I realised that sharing-economy companies really are pointing the way to a more promising future, where we have more power over when, where and how long to work. It’s a shift that has the potential to give people more flexibility, more freedom and more control over their lives, their jobs and their incomes.”1 One might think that this quotation is self-serving, given that Uber’s digital network business model is based on a network of freelance drivers.


pages: 207 words: 59,298

The Gig Economy: A Critical Introduction by Jamie Woodcock, Mark Graham

Airbnb, Amazon Mechanical Turk, autonomous vehicles, barriers to entry, British Empire, business process, business process outsourcing, call centre, collective bargaining, commoditize, corporate social responsibility, crowdsourcing, David Graeber, deindustrialization, disintermediation, en.wikipedia.org, full employment, future of work, gender pay gap, gig economy, global value chain, independent contractor, informal economy, information asymmetry, inventory management, Jaron Lanier, Jeff Bezos, job automation, knowledge economy, Lyft, mass immigration, means of production, Network effects, new economy, Panopticon Jeremy Bentham, planetary scale, precariat, rent-seeking, RFID, ride hailing / ride sharing, Ronald Reagan, self-driving car, sentiment analysis, sharing economy, Silicon Valley, Silicon Valley ideology, TaskRabbit, The Future of Employment, transaction costs, Travis Kalanick, two-sided market, Uber and Lyft, Uber for X, uber lyft, union organizing, women in the workforce, working poor, young professional

Scholz, T. (2017b) Platform cooperativism vs. the sharing economy. In N. Douay and A. Wan (eds.), Big Data & Civic Engagement. Rome: Planum Publisher. Scott, W.R. (2001) Institutions and Organizations. Thousand Oaks, CA: Sage. Semuels, A. (2018) The Internet is enabling a new kind of poorly paid hell. The Atlantic, 23 January, Available at: https://www.theatlantic.com/business/archive/2018/01/amazon-mechanical-turk/551192/ Silver, B.J. (2003) Forces of Labor, Workers’ Movements and Globalization since 1870. Cambridge: Cambridge University Press. Slee, T. (2015) What’s Yours Is Mine: Against the Sharing Economy. London: OR Books.

As Sarah Kessler (2018: x) recounts in a story from a startup founder, the gig economy had a promise that ‘we could work for our neighbours, connect with as many projects as we needed to get by, and fit those gigs between band rehearsals, gardening, and other passion promises.’ At this point, some commentators began talking about the ‘sharing economy’ (Sundararajan, 2017), a term that sounds very optimistic in light of the evidence that followed. Although there have been changes in the gig economy, it still involves work. At its core, paid work involves a relationship in which one person sells their time to another. This entails transferring the ownership of labour power (the capacity to work) from the worker to the owner of capital (the owner of the things needed to produce work).

Pollert, A. and Charlwood, A. (2009) The vulnerable worker in Britain and problems at work. Work, Employment and Society, 23(2): 343–62. Pollman, E. and Barry, J. (2016) Regulatory entrepreneurship. Southern California Law Review, 90: 383–442. Ravenelle, A. (2019) Hustle and Gig: Struggling and Surviving in the Sharing Economy. Oakland, CA: University of California Press. Raw, L. (2009) Striking a Light: The Bryant and May Matchwomen and their Place in History. London: Continuum Books. Richey, L.A. and Ponte, S. (2011) Brand Aid: Shopping Well to Save the World. Minneapolis, MN: University of Minnesota Press. Roberts, S.T. (2016) Commercial content moderation: Digital laborers’ dirty work.


pages: 279 words: 76,796

The Unbanking of America: How the New Middle Class Survives by Lisa Servon

Affordable Care Act / Obamacare, Airbnb, basic income, Build a better mousetrap, business cycle, Cass Sunstein, choice architecture, creative destruction, Credit Default Swap, employer provided health coverage, financial exclusion, financial independence, financial innovation, gender pay gap, George Akerlof, gig economy, income inequality, independent contractor, informal economy, Jane Jacobs, Joseph Schumpeter, late fees, Lyft, M-Pesa, medical bankruptcy, microcredit, Occupy movement, payday loans, peer-to-peer lending, precariat, Ralph Nader, Richard Thaler, Robert Shiller, Robert Shiller, Ronald Reagan, Savings and loan crisis, sharing economy, too big to fail, transaction costs, unbanked and underbanked, underbanked, universal basic income, Unsafe at Any Speed, We are the 99%, white flight, working poor, Zipcar

These informal practices are not: Sudhanshu Handa and Claremont Kirton, “The Economics of Rotating Savings and Credit Associations: Evidence from the Jamaican ‘Partner,’” Journal of Development Economics, vol. 60, no. 1 (1999): 173–94; Sowmya Varadharajan, “Explaining Participation in Rotating Savings and Credit Associations (ROSCAs): Evidence from Indonesia” (Ithaca, NY: Cornell University, 2004). 141 almost less than one in ten: PricewaterhouseCoopers, “The Sharing Economy,” Consumer Intelligence Series, pwc.com/CISsharing, April 2015. the sharing economy: Havas Worldwide, “The New Consumer and the Sharing Economy,” Prosumer Report (New York: Havas, 2014). 8. INSIDE THE INNOVATORS 143 This moment is notable: Brett King, Breaking Banks: The Innovators, Rogues, and Strategists Rebooting Banking (Singapore: John Wiley & Sons, 2014), p. xv.

Jack works at the US Department of Housing and Urban Development; he also participates in a ROSCA through his job. “We’re not supposed to do them, but we do. There’s a group checking account we set up with the Federal Credit Union. They pull a hundred dollars from my paycheck, and I get paid bimonthly, so that’s two hundred per month.” Indeed, research shows that the “sharing economy” is on the rise. This economy values shared resources and collaboration over accumulation and ownership, and it operates as a system of providers and users, although people often act in both roles. Providers offer goods and services to be shared, and users rent, pay for, or barter for what’s being offered.

Best known for services like Zipcar, Lyft, and Airbnb, it extends to crowdfunding as well as the sharing of equipment and media. Advances in technology—mobile apps and web platforms—allow individuals to connect and then facilitate services and transactions. While almost less than one in ten adults has participated in the sharing economy as providers, consumers under age thirty-five make up 38 percent of the total. Half of millennials belong to or expect to join a sharing service within the next year. Policymakers and most mainstream and alternative financial-services providers have failed to look closely at the informal component of the consumer financial-services system.


pages: 252 words: 73,131

The Inner Lives of Markets: How People Shape Them—And They Shape Us by Tim Sullivan

"Robert Solow", Airbnb, airport security, Al Roth, Alvin Roth, Andrei Shleifer, attribution theory, autonomous vehicles, barriers to entry, Brownian motion, business cycle, buy and hold, centralized clearinghouse, Chuck Templeton: OpenTable:, clean water, conceptual framework, constrained optimization, continuous double auction, creative destruction, deferred acceptance, Donald Trump, Edward Glaeser, experimental subject, first-price auction, framing effect, frictionless, fundamental attribution error, George Akerlof, Goldman Sachs: Vampire Squid, Gunnar Myrdal, helicopter parent, information asymmetry, Internet of things, invisible hand, Isaac Newton, iterative process, Jean Tirole, Jeff Bezos, Johann Wolfgang von Goethe, John Nash: game theory, John von Neumann, Joseph Schumpeter, Kenneth Arrow, late fees, linear programming, Lyft, market clearing, market design, market friction, medical residency, multi-sided market, mutually assured destruction, Nash equilibrium, Occupy movement, Pareto efficiency, Paul Samuelson, Peter Thiel, pets.com, pez dispenser, pre–internet, price mechanism, price stability, prisoner's dilemma, profit motive, proxy bid, RAND corporation, ride hailing / ride sharing, Robert Shiller, Robert Shiller, Ronald Coase, school choice, school vouchers, sealed-bid auction, second-price auction, second-price sealed-bid, sharing economy, Silicon Valley, spectrum auction, Steve Jobs, Tacoma Narrows Bridge, technoutopianism, telemarketer, The Market for Lemons, The Wisdom of Crowds, Thomas Malthus, Thorstein Veblen, trade route, transaction costs, two-sided market, uber lyft, uranium enrichment, Vickrey auction, Vilfredo Pareto, winner-take-all economy

Discrimination may feed into users’ feedback, which would, perhaps less directly, lead to discrimination. Although we know of no research on the topic, the concern has seen much attention in the media. See, for example, “The Sharing Economy Is Not as Open as You Might Think,” The Guardian, November 12, 2014. A post titled “Can the Sharing Economy End Discrimination?” on the website of tech magazine Wired took the opposite view, albeit without providing any evidence in support of the argument. For a broader critique of the sharing economy, see Tom Slee, What’s Yours Is Mine (London: OR Books, 2015). 12. Peter Thiel, “Competition Is for Losers,” Wall Street Journal, September 12, 2014, http://www.wsj.com/articles/peter-thiel-competition-is-for-losers-1410535536.

There need not be only two sides: Google’s Android is a meeting point for makers of smart phones like LG and Samsung, app designers, and consumers. The business networking service LinkedIn similarly brings together corporate recruiters, job hunters or employees, and advertisers. The list goes on, including some of the recent “sharing economy” companies that have gotten so much attention: Uber, Lyft, Airbnb, Postmates, and many other online marketplaces. The market maker faces a delicate balancing act in satisfying the needs and wants of each side. And indeed a platform isn’t much good unless all sides agree to participate. Just as no one would visit a supermarket that stocked only a limited supply of cornflakes, eBay wouldn’t get many visitors if the only items for bid were a couple of old Pez dispensers.

If friction—informational, transactional, contractual—is all that stands between textbook economic models and the functioning of our real economy, then there is a vocal contingent out there (“there” being mostly Silicon Valley) that sees technology as the solution. When viewed through the lens of market frictions, the much-hyped notion of the sharing economy can be seen as an effort to bring free-market salvation to bricks, mortars, and automobiles. If you’ve ever tried to hail a taxi in San Francisco or rent a room in Washington, DC, you know the frictions of which we speak. The Bay Area’s sprawl, combined with strict regulations on the cab and livery businesses, used to leave you at the mercy of the two thousand or so taxi medallion holders that covered San Francisco’s 230 square miles.


pages: 302 words: 87,776

Dollars and Sense: How We Misthink Money and How to Spend Smarter by Dr. Dan Ariely, Jeff Kreisler

accounting loophole / creative accounting, Airbnb, Albert Einstein, bitcoin, Burning Man, collateralized debt obligation, Daniel Kahneman / Amos Tversky, delayed gratification, endowment effect, experimental economics, hedonic treadmill, IKEA effect, impact investing, invisible hand, loss aversion, mental accounting, mobile money, placebo effect, price anchoring, Richard Thaler, sharing economy, Silicon Valley, Snapchat, Stanford marshmallow experiment, Steve Jobs, TaskRabbit, the payments system, Uber for X, ultimatum game, Walter Mischel, winner-take-all economy

SHARING IS FAIRING What about the phrase “the sharing economy”? Companies like Uber, Airbnb, and TaskRabbit belong to “the sharing economy,” a phrase that frames these services in a positive way. Who doesn’t like to share and who doesn’t appreciate those who do? Who above the age of preschool doesn’t think of sharing as a wonderful human quality? No one, that’s who. The phrase “the sharing economy” conjures an image of the good side of humanity, and that causes most of us to value a service more. Certainly the language doesn’t draw attention to the negatives of the sharing economy. “Sharing” makes it all seem selfless, like we’re letting our little sister play with our Legos or donating a kidney to an orphan.

,” 205–6 honeymoon experience, 61–65, 69–71, 75 marriage proposal, 126 shopping for Optimum Slim cereal, 30 traveling with his family, 45, 55 unfulfilled friend’s party, 38 windfall hypothesis, 195 labor market in “sharing” economy, 160 Lambrecht, Anja, 33 Lanchester, John, 162 Langer, Ellen, 114 language, 149–66 overview, 154–55, 214–16, 220 adding value with rituals, 163–66, 179–80, 214–16, 220 choices based on descriptions vs. items, 153–56 consumption enhancement, 156–59, 163 double talk, 161–62 and expectations, 179–80 ignoring vs. immersing in, 149–52 language and fairness, 159–60 and restaurants, 150–55 sharing economy, 160–61 transformative ability of language, 162–63 Las Vegas, Nevada, 45–46 Levav, Jonathan, 50–51 listing price effect on Realtors’ estimates, 93–95, 98, 103 locksmith’s value, x, 133, 137, 140, 146 Loewenstein, George, 67, 77, 106–8, 191–92 loss aversion overview, 120–23 app for combating, 241 and employer’s retirement matching funds, 243 and investments, 123–25, 249 and Netflix new pricing scheme, 138, 138n overvaluing what we own, 219 and positive outcomes, 246–47 luxury items and resorts estate worth tens of millions, 119 prepaying vs. ala carte, 61–62, 69–70, 75–77, 228 relative price vs. real price, 29 malleable mental accounting, 53–54, 55 manipulation advertising copywriter skills, 119 new box and new price (same as old price), 30–31 pricing high to create excitement by lowering it, 104 self-manipulation, 221, 233 and transparency, 146–47, 220 winemakers and language manipulation, 151, 154–55, 162, 221 See also pricing Mansfield, Rob, 183–85, 190–91, 232 marshmallow test, 186 Martin, Jane, 41–43, 56 McGraw, Pete, 50–51 measurability, 24–25, 201, 204–5 Mencken, H.

“Sharing” makes it all seem selfless, like we’re letting our little sister play with our Legos or donating a kidney to an orphan. But that’s not always the case. In fact, critics claim that the rise of the sharing economy is the by-product of a labor market providing no full-time jobs, few benefits, and little security, that it rolls back worker protections and takes advantage of the “free-agent nation,” which itself is another term designed to help us feel better about underemployment. But we do all enjoy getting rides more easily, don’t we? Some companies have been accused of greenwashing, or making minor, cosmetic changes to their products so they can call themselves environmentally friendly.


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

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.

Lots of us have heard about the tragedy of the commons: When people share a resource but don’t own it, everything goes to hell because they don’t care. As you know, this was not my experience with Zipcar, which proved to be a shock to investors and business pundits. And it was this reality that led to the founding of dozens of other successful sharing-economy companies. Ostrom identifies “common pool resources,” which have two characteristics: they produce a steady stream of benefits accruing from the resource, and it is very difficult to exclude individuals. You can see how this maps very closely to what is happening within the Peers Inc model. The platform for participation absolutely produces a steady stream of benefits, and the peers are free agents who opt in.

As more and more companies switch over to the Peers Inc structure, more and more people will become freelancers, working for themselves. What are the near-term and long-term implications for them? Andrew Leonard, a business and technology journalist writing for Salon and Wired, has raised a widespread concern about the sharing economy: “The services built on top of these [platform] technologies become especially lucrative when their creators figure out ways to avoid taxes or safety regulations or insurance costs that their old-economy, non-‘sharing’ competitors are stuck with.”9 Leonard’s assessment seems very straightforward, but it obscures the complexity that lies underneath.


pages: 294 words: 82,438

Simple Rules: How to Thrive in a Complex World by Donald Sull, Kathleen M. Eisenhardt

Affordable Care Act / Obamacare, Airbnb, asset allocation, Atul Gawande, barriers to entry, Basel III, Berlin Wall, carbon footprint, Checklist Manifesto, complexity theory, Craig Reynolds: boids flock, Credit Default Swap, Daniel Kahneman / Amos Tversky, diversification, drone strike, en.wikipedia.org, European colonialism, Exxon Valdez, facts on the ground, Fall of the Berlin Wall, haute cuisine, invention of the printing press, Isaac Newton, Kickstarter, late fees, Lean Startup, Louis Pasteur, Lyft, Moneyball by Michael Lewis explains big data, Nate Silver, Network effects, obamacare, Paul Graham, performance metric, price anchoring, RAND corporation, risk/return, Saturday Night Live, sharing economy, Silicon Valley, Startup school, statistical model, Steve Jobs, TaskRabbit, The Signal and the Noise by Nate Silver, transportation-network company, two-sided market, Wall-E, web application, Y Combinator, Zipcar

Instead, they ended up hosting a forty-five-year-old father from Utah, a thirty-five-year-old woman from Boston, and a thirty-year-old Indian man. Brian and Joe realized this market might be bigger than they first thought. They soon launched Air Mattress Bed & Breakfast, later Airbnb. Airbnb is among the most successful of the shared-economy companies. Unlike many traditional businesses, shared-economy companies have no single base of customers. Rather, these companies provide two-sided markets that connect sellers (or people with something to share) with buyers (who are willing to pay for the product or service)—like the transportation-network company Lyft, which connects passengers who need a ride to drivers who have a car, and TaskRabbit, an errand-outsourcing company that connects people who need something done with “taskers” who will do the job.

When they combine these and other learning processes like experiments and trial and error, people and organizations gain a particularly potent way to improve their rules. MULTITASKING WAYS TO LEARN You’ve probably heard of Airbnb. You may have used the site to rent a vacation house or an apartment in another city. Maybe you even know that its founders are the first billionaires of the so-called shared economy. You may not, however, have given much thought to the learning processes that helped propel Air­bnb’s founders to fortune and fame. Joe Gebbia and Brian Chesky met while they were industrial-design students at Rhode Island School of Design. Although they talked about starting a company together, they went their separate ways after graduation.

Rather, these companies provide two-sided markets that connect sellers (or people with something to share) with buyers (who are willing to pay for the product or service)—like the transportation-network company Lyft, which connects passengers who need a ride to drivers who have a car, and TaskRabbit, an errand-outsourcing company that connects people who need something done with “taskers” who will do the job. For Airbnb, it’s connecting local residents with room to spare and travelers who need a place to stay. To grow, shared-economy companies have to keep both sides of the market—sellers and buyers—happy. And growing matters, because these companies face what are known as network effects—in other words, the positively reinforcing cycle in which more buyers attract more sellers and vice versa. Network effects can create exploding growth for the first company or two in a market sector, but they can also make success impossible for later and slower ones.


pages: 257 words: 64,285

The End of Traffic and the Future of Transport: Second Edition by David Levinson, Kevin Krizek

2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, 3D printing, American Society of Civil Engineers: Report Card, autonomous vehicles, barriers to entry, Bay Area Rapid Transit, big-box store, Chris Urmson, collaborative consumption, commoditize, crowdsourcing, DARPA: Urban Challenge, dematerialisation, Elon Musk, en.wikipedia.org, Google Hangouts, Induced demand, intermodal, invention of the printing press, jitney, John Markoff, labor-force participation, lifelogging, Lyft, means of production, megacity, Menlo Park, Network effects, Occam's razor, oil shock, place-making, post-work, Ray Kurzweil, rent-seeking, ride hailing / ride sharing, Robert Gordon, self-driving car, sharing economy, Silicon Valley, Skype, smart cities, technological singularity, Tesla Model S, the built environment, The future is already here, Thomas Kuhn: the structure of scientific revolutions, transaction costs, transportation-network company, Uber and Lyft, Uber for X, uber lyft, urban renewal, women in the workforce, working-age population, Yom Kippur War, zero-sum game, Zipcar

Some of this information is gleaned from the Car2Go website https://www.car2go.com/en/minneapolis/ April 3, 2015. 219 As quoted in Thomas Friedman's column: "just think how much better all this is for the environment — for people to be renting their spare bedrooms rather than building another Holiday Inn and another and another. ... The sharing economy — watch this space. This is powerful." See: http://www.nytimes.com/2013/07/21/opinion/sunday/friedman-welcome-to-the-sharing-economy.html?pagewanted=2&_r=0 220 Forecasts of the shared economy and local regulation, see: Rauch, Daniel E. and Schleicher, David (2015) Like Uber, But for Local Governmental Policy: The Future of Local Regulation of the "Sharing Economy" (January 14, 2015). George Mason Law & Economics Research Paper No. 15-01. Available at SSRN: http://ssrn.com/abstract=2549919 221 National Multi-family Housing Coalition (2015-09) https://www.nmhc.org/Content.aspx?

We develop a framework to conceive of concepts related to transport and accessibility more broadly. In this framework, transport systems are being augmented with a range of information technologies. Fresh flows of goods and information provide a foundational aspect. We discuss large scale trends revolutionizing transport: dematerialization, electrification, automation, the sharing economy, and big data. The culminating chapters provide strategies to shape future debates about infrastructure. Even if transport is not your bailiwick, there is something interesting for you here. We aim for a quick read—and to encourage you to think outside your immediate realm. By the end of this book (this evening, if you so choose) you will appreciate the changing times in which you live.

The Future of Sharing: Cloud Commuting For communities where densities are relatively low, incomes high, and thus taxis scarce, the most reliable strategy for timely point-to-point transport is for people to maintain personal transport close at hand. Cars and bikes, which they own, are parked at their homes, workplaces, or other destinations. But with more widespread use of information technologies, ownership and possession are no longer necessary prerequisites for on-demand mobility. Widely called the 'sharing economy' or 'collaborative consumption,' its manifestations in transport: carsharing and ridesharing are viable if not widespread. Couple these technologies with autonomous vehicles discussed in the previous chapter, and one arrives at what we term 'cloud commuting' — the convergence of ridesharing, carsharing, and autonomous vehicles.211 More formally, this range of options can be termed Mobility-as-a-Service (MaaS).


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No Ordinary Disruption: The Four Global Forces Breaking All the Trends by Richard Dobbs, James Manyika

2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, access to a mobile phone, additive manufacturing, Airbnb, Amazon Mechanical Turk, American Society of Civil Engineers: Report Card, autonomous vehicles, Bakken shale, barriers to entry, business cycle, business intelligence, Carmen Reinhart, central bank independence, cloud computing, corporate governance, creative destruction, crowdsourcing, demographic dividend, deskilling, disintermediation, disruptive innovation, distributed generation, Erik Brynjolfsson, financial innovation, first square of the chessboard, first square of the chessboard / second half of the chessboard, Gini coefficient, global supply chain, global village, hydraulic fracturing, illegal immigration, income inequality, index fund, industrial robot, intangible asset, Intergovernmental Panel on Climate Change (IPCC), Internet of things, inventory management, job automation, Just-in-time delivery, Kenneth Rogoff, Kickstarter, knowledge worker, labor-force participation, low skilled workers, Lyft, M-Pesa, mass immigration, megacity, mobile money, Mohammed Bouazizi, Network effects, new economy, New Urbanism, oil shale / tar sands, oil shock, old age dependency ratio, openstreetmap, peer-to-peer lending, pension reform, private sector deleveraging, purchasing power parity, quantitative easing, recommendation engine, Report Card for America’s Infrastructure, RFID, ride hailing / ride sharing, Second Machine Age, self-driving car, sharing economy, Silicon Valley, Silicon Valley startup, Skype, smart cities, Snapchat, sovereign wealth fund, spinning jenny, stem cell, Steve Jobs, supply-chain management, TaskRabbit, The Great Moderation, trade route, transaction costs, Travis Kalanick, uber lyft, urban sprawl, Watson beat the top human players on Jeopardy!, working-age population, Zipcar

Kiva, the world’s largest online platform for peer-to-peer microlending, has facilitated loans worth more than $630 million, mostly in the emerging world.51 Kickstarter, a crowd-funding platform that connects entrepreneurs to individuals interested in funding creative projects, has facilitated pledges of more than $1.4 billion to fund 70,000 creative projects since 2009.52 Small or individual registered investment advisors are the fastest-growing segment of the investment advisory business in the United States; they purchase turnkey back-end systems from companies like Fidelity and Charles Schwab to get all the capabilities they need in order to provide direct advice to consumers.53 In markets such as search, e-commerce, social media, and the sharing economy, the low marginal costs of digital infrastructure allow upstarts to build business models with near-limitless scale. WhatsApp, the mobile messaging platform that Facebook recently snapped up for $19 billion, reached 500 million monthly active users within five years of its launch.54 Snapchat surpassed the photo-sharing activity on both Facebook and Instagram with 400 million users only two years after its foundation.55 Sharing economy start-ups are growing at breathtaking speed. In 2013, some 450,000 active users were launching the Uber app every week, and more than a million Lyft users had requested a ride with the tap of a button.56 Traditional players have also benefited from changes in marginal cost economics to enter new markets, grow rapidly, or optimize processes and cost structures.

But they have never done so across so many markets and at the speed and scale that is being seen today. As digital platforms reduce to near zero the marginal costs of scaling up business activity, such platforms are enabling new business models, new entrants, and even new market models such as peer-to-peer transactions and the “sharing” economy. With lowered barriers to entry, it is now common to see small companies take on incumbents and gain critical mass in a matter of months. The boundaries separating sectors have become blurred, and digital capabilities are often driving the shift of economic values between players and sectors.

The average company’s tenure on the S&P 500 fell to about eighteen years in 2012, down from sixty-one years five decades earlier.13 It’s no longer sufficient to regard large firms as potential competitors; start-ups with access to digital platforms can be born global, scale up in the blink of an eye, and disrupt long-standing rules of competition in markets ranging from taxi services to hotels and retail. Many of these micro-multinationals are upending competition by bringing about a new “sharing economy” in hospitality (Airbnb), transportation (Lyft), and even home Wi-Fi rentals (Spain’s Fon). Technology has leveled the playing field between large and small players and increased companies’ willingness to enter new markets and expand into new sectors. Microsoft took fifteen years to reach $1 billion in sales.14 Amazon reached that mark in fewer than five years.15 Netflix is no longer merely disrupting content distribution, but is also becoming a formidable force in original content production.


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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

As former U.S. vice president Al Gore put it: Al Gore, “The Turning Point: New Hope for the Climate,” Rolling Stone, June 18, 2014, http://www.rollingstone.com/politics/news/the-turning-point-new-hope-for-the-climate-20140618. People have figured out that if they have idle assets: “The Rise of the Sharing Economy,” Economist, March 9, 2013, http://www.economist.com/news/leaders/21573104-internet-everything-hire-rise-sharing-economy. A phrase from Mastercoin’s David Johnston: David Johnston, “Johnston’s Law,” http://www.johnstonslaw.org/. among a host of overhyped Super Bowl XXXIV ads: Dashiell Bennett, “8 Dot-Coms That Spent Million on Super Bowl Ads and No Longer Exist,” Business Insider, February 2, 2011, http://www.businessinsider.com/8-dot-com-super-bowl-advertisers-that-no-longer-exist-2011-2?

It includes visits to the mountains of Utah, the beaches of Barbados, schools in Afghanistan, and start-ups in Kenya. The world of cryptocurrencies comprises venture-capital royalty, high school dropouts, businessmen, utopians, anarchists, students, humanitarians, hackers, and Papa John’s pizza. It’s got parallels with the financial crisis, and the new sharing economy, and the California gold rush, and before it’s all over, we may have to endure an epic battle between a new high-tech world and the old low-tech world that could throw millions out of work, while creating an entirely new breed of millionaires. Are you ready to jump down the bitcoin rabbit hole?

David Johnston is a senior board member at the Mastercoin Foundation, the body that coordinates the funding for the Mastercoin project, which offers a special software platform for developers to design special decentralized applications that can run on top of the bitcoin blockchain. He says blockchain technology “will supercharge the sharing economy,” that emerging trend in which apartment owners use Airbnb.com to rent out quasi hotel rooms and car owners sign up as self-employed taxidrivers for smartphone-based Uber and Lyft. The idea is that if we can decentralize the economy and foster multiple forms of peer-to-peer exchanges, people will figure out profitable ways to turn much of what they own or control into a marketable service.


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The New Prophets of Capital by Nicole Aschoff

3D printing, affirmative action, Affordable Care Act / Obamacare, Airbnb, American Legislative Exchange Council, basic income, Bretton Woods, clean water, collective bargaining, commoditize, crony capitalism, feminist movement, follow your passion, Food sovereignty, glass ceiling, global supply chain, global value chain, helicopter parent, hiring and firing, income inequality, Khan Academy, late capitalism, Lyft, Mark Zuckerberg, mass incarceration, means of production, performance metric, post-work, profit motive, rent-seeking, Ronald Reagan, Rosa Parks, school vouchers, shareholder value, sharing economy, Silicon Valley, Slavoj Žižek, structural adjustment programs, Tim Cook: Apple, urban renewal, women in the workforce, working poor, zero-sum game

Moving up past the “empowered” and the “influential” freelancers we reach the top: the “360 degrees Freelancer.” But the pinnacle isn’t about money, status, or applause. “It’s about giving back.”35 The Freelancers Union is part of an emerging social movement called “new mutualism” that’s grounded in the concept of a sharing economy. Jeremy Rifkin sees the sharing economy as the next big thing. He argues that hundreds of millions of people are already on board, sharing “information, entertainment, green energy, and 3D printed products at near-zero marginal cost.” People are also sharing more personal things like clothes, homes, and household items.36 “Flexible,” “diversified” freelancers are the archetypal sharers: They mentor.

Or they make sure they buy from and work with other local freelancers to keep the ecosystem healthy. They buy their groceries at the local food co-op. They attend classes. They teach classes. They go to networking events not just to hand out business cards, but to find other freelancers that share their passions.37 In the new sharing economy we’ll all be freelancers. We’ll rent out our spare rooms on Airbnb and drive our cars for Lyft. We’ll have a “portfolio of jobs” and live our lives by “essentialist” principles: We will live with “intention and choice” and celebrate the joy of “fulfilling a purpose” and making “small choices that lead to big change.”38 It’s all about adapting ourselves and acquiring the necessary skills and connections to make it in the world.

Silva, “Constructing Adulthood in an Age of Uncertainty,” American Sociological Review 77: 4, 2012, 508; see also Anthony Giddens, Modernity and Self-Identity: Self and Society in the Late Modern Age, New York: Polity Press, 1991. 26Gary Vaynerchuk, TED Talk, Web. 2.0 Expo, September 2008. 27Dan Schwabel, “Marie Forleo: How She Grew Her Brand to Oprah Status,” Forbes, May 16, 2013. 28See www.marieforleo.com/. 29Oprah Winfrey, Harvard commencement speech. 30O, The Oprah Magazine, March 2014. 31Madeleine Schwartz, “Opportunity Costs: The True Price of Internships,” Dissent, Winter 2013. 32Mark Babbitt, “25 Jobs in a 50-Year Career: Is Gen Y Ready?” Savvy Intern, October 9, 2013. 33See www.freelancersunion.org. 34Ibid.; Freelancers Union, Instagram, February 18, 2014. 35Freelancersunion.org. 36Jeremy Rifkin, “The Rise of the Sharing Economy,” Los Angeles Times, April 6, 2014. 37Freelancersunion.org. 38Ibid.; see also Atossa Araxia Abrahamian’s piece on the Freelancers Union in Dissent, Winter 2012. 39C. Wright Mills, The Sociological Imagination, New York: Oxford University Press, 2000 [1959], p. 6. 40Pierre Bourdieu, “The Forms of Capital,” in J.


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Rebooting India: Realizing a Billion Aspirations by Nandan Nilekani

Airbnb, Atul Gawande, autonomous vehicles, barriers to entry, bitcoin, call centre, cashless society, clean water, cloud computing, collaborative consumption, congestion charging, DARPA: Urban Challenge, dematerialisation, demographic dividend, Edward Snowden, en.wikipedia.org, energy security, financial exclusion, Google Hangouts, illegal immigration, informal economy, Khan Academy, Kickstarter, knowledge economy, land reform, law of one price, M-Pesa, Mahatma Gandhi, Marc Andreessen, Mark Zuckerberg, mobile money, Mohammed Bouazizi, more computing power than Apollo, Negawatt, Network effects, new economy, offshore financial centre, price mechanism, price stability, rent-seeking, RFID, Ronald Coase, school choice, school vouchers, self-driving car, sharing economy, Silicon Valley, Skype, smart grid, smart meter, software is eating the world, source of truth, Steve Jobs, The future is already here, The Nature of the Firm, transaction costs, WikiLeaks

Traditional government domains are now being invaded by the private sector. The rise of the sharing economy, in which people directly share resources with one another, is further changing our understanding of business. In a time of such rapid change, government faces the challenge of implementing regulatory standards and protecting consumer rights in an ever-changing landscape. The mobile telephony network was among the first wave of technologies that required such efforts from the government. Let’s see how some of the newer challenges are shaping up. The rise of India’s sharing economy When Uber made its Indian debut in 2013, it became one of a clutch of taxi services debuting an unfamiliar business model.

‘India’s tech opportunity: Transforming work, empowering people’. McKinsey Global Institute Report. http://www.mckinsey.com/insights/high_tech_telecoms_internet/indias_tech_opportunity_transforming_work_empowering_people 11. Fok, Evelyn. 31 January 2015. ‘Sharing economy fails to gain ground in Indian market as startups wary of model’. Economic Times. http://articles.economictimes.indiatimes.com/2015-01-31/news/58650703_1_sharing-economy-taxi-aggregator-vardhan-koshal 12. Mazzucato, M. 2013. The Entrepreneurial State: Debunking Public vs. Private Sector Myths. London: Anthem Press. 13. Sally, Madhvi Sally. 30 April 2014. ‘Demand for accurate weather predictions heralds burgeoning business opportunity for private forecasting firms.

The incumbents label the newcomers as ‘tax evaders’ and the new solutions as ‘unsafe’. There is also the risk of the existing interests lobbying against innovations and using regulations to create a barrier to entry. In all these cases, the conflict between regulation and innovation has led to considerable friction in the market. The sharing economy is also giving rise to a new class of ‘micro-entrepreneurs’—small-scale service providers who can now find customers through an online marketplace.8 The US has seen the emergence of a plethora of start-ups that will bring you groceries and flowers, wash your clothes, deliver meals, clean your house, carry out your personal tasks, or send a doctor to your home if you’re ill.


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Augmented: Life in the Smart Lane by Brett King

23andMe, 3D printing, additive manufacturing, Affordable Care Act / Obamacare, agricultural Revolution, Airbnb, Albert Einstein, Amazon Web Services, Any sufficiently advanced technology is indistinguishable from magic, Apple II, artificial general intelligence, asset allocation, augmented reality, autonomous vehicles, barriers to entry, bitcoin, blockchain, business intelligence, business process, call centre, chief data officer, Chris Urmson, Clayton Christensen, clean water, congestion charging, crowdsourcing, cryptocurrency, deskilling, different worldview, disruptive innovation, distributed generation, distributed ledger, double helix, drone strike, Elon Musk, Erik Brynjolfsson, Fellow of the Royal Society, fiat currency, financial exclusion, Flash crash, Flynn Effect, future of work, gig economy, Google Glasses, Google X / Alphabet X, Hans Lippershey, Hyperloop, income inequality, industrial robot, information asymmetry, Internet of things, invention of movable type, invention of the printing press, invention of the telephone, invention of the wheel, James Dyson, Jeff Bezos, job automation, job-hopping, John Markoff, John von Neumann, Kevin Kelly, Kickstarter, Kim Stanley Robinson, Kodak vs Instagram, Leonard Kleinrock, lifelogging, low earth orbit, low skilled workers, Lyft, M-Pesa, Mark Zuckerberg, Marshall McLuhan, megacity, Metcalfe’s law, Minecraft, mobile money, money market fund, more computing power than Apollo, Network effects, new economy, obamacare, Occupy movement, Oculus Rift, off grid, packet switching, pattern recognition, peer-to-peer, Ray Kurzweil, RFID, ride hailing / ride sharing, Robert Metcalfe, Satoshi Nakamoto, Second Machine Age, selective serotonin reuptake inhibitor (SSRI), self-driving car, sharing economy, Shoshana Zuboff, Silicon Valley, Silicon Valley startup, Skype, smart cities, smart grid, smart transportation, Snapchat, social graph, software as a service, speech recognition, statistical model, stem cell, Stephen Hawking, Steve Jobs, Steve Wozniak, strong AI, TaskRabbit, technological singularity, telemarketer, telepresence, telepresence robot, Tesla Model S, The future is already here, The Future of Employment, Tim Cook: Apple, trade route, Travis Kalanick, Turing complete, Turing test, uber lyft, undersea cable, urban sprawl, V2 rocket, Watson beat the top human players on Jeopardy!, white picket fence, WikiLeaks

Phil Harrison, the former corporate vice president at Microsoft who led the division responsible for Microsoft’s Xbox, described this dynamic exponential growth in computing as a platform at the launch of the Xbox One at the Electronic Entertainment Expo (E3) in 2013: “Day one of Xbox One, we will have the [cloud] server power equivalent to the entire computing power of the planet in 1999. There’s a tangible data point for you…” Phil Harrison, corporate VP of Microsoft’s Entertainment Division The sharing economy and the social media collective have produced an explosion of content, bytes/bits and data that we didn’t really see coming ten years ago. We predicted a linear increase in demand for data, and when mobile came along we rightly predicted more data usage, but we didn’t expect the explosion of data that occurred as a result of social media, the amplification of “sharing” and the rise of consumers as producers of content.

Computational processing is probably another large component of the overall price, and it has a long history of exponential cost reduction. In addition, we can expect battery technology to improve dramatically and allow self-driving vehicles to eventually get through an entire day without the need for a charge. The sharing economy for vehicles will thrive. Electric, self-driving vehicles will be significantly cheaper to run, but the average city dweller won’t even need to own a car, or they may choose to own a share in a vehicle. The user will simply rent a vehicle by the hour, and each vehicle will shuffle between owners or renters themselves, stopping to charge at the required charging station in quiet periods.

The user will simply rent a vehicle by the hour, and each vehicle will shuffle between owners or renters themselves, stopping to charge at the required charging station in quiet periods. The trend of young adults moving away from vehicle ownership is already becoming evident. Instead of asking for their own car when they reach driving age, teens are now asking their parents for an Uber account.6 So this is not just a factor of electric, self-driving cars; the sharing economy is already starting to shift behaviour towards dramatically different vehicle ownership models. Children who have grown up with parents who use Uber or ride-sharing services will do the maths and find that it is cheaper to not own their own vehicle in an average city with good public transportation and an autonomous vehicle network.


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The Contrarian: Peter Thiel and Silicon Valley's Pursuit of Power by Max Chafkin

3D printing, affirmative action, Airbnb, anti-communist, bank run, Bernie Sanders, bitcoin, borderless world, charter city, cloud computing, cognitive dissonance, coronavirus, Covid-19, COVID-19, Credit Default Swap, cryptocurrency, David Brooks, David Graeber, disinformation, don't be evil, Donald Trump, Electric Kool-Aid Acid Test, Elon Musk, Ethereum, Extropian, facts on the ground, Ferguson, Missouri, Frank Gehry, Gordon Gekko, guest worker program, Haight Ashbury, helicopter parent, hockey-stick growth, illegal immigration, immigration reform, Internet Archive, Jeff Bezos, John Markoff, Kickstarter, life extension, Lyft, Marc Andreessen, Mark Zuckerberg, Maui Hawaii, Menlo Park, moral panic, move fast and break things, move fast and break things, Nelson Mandela, Network effects, off grid, offshore financial centre, oil shale / tar sands, open borders, paypal mafia, Peter Thiel, pets.com, Plutocrats, plutocrats, Ponzi scheme, prosperity theology / prosperity gospel / gospel of success, QAnon, quantitative hedge fund, quantitative trading / quantitative finance, randomized controlled trial, regulatory arbitrage, Renaissance Technologies, reserve currency, ride hailing / ride sharing, risk tolerance, Ronald Reagan, Sam Altman, Sand Hill Road, self-driving car, sharing economy, Silicon Valley, Silicon Valley ideology, Silicon Valley startup, skunkworks, software is eating the world, sovereign wealth fund, Steve Bannon, Steve Jobs, Steven Levy, Stewart Brand, surveillance capitalism, TaskRabbit, technology bubble, technoutopianism, Ted Kaczynski, the new new thing, the scientific method, Tim Cook: Apple, transaction costs, Travis Kalanick, Uber and Lyft, uber lyft, Upton Sinclair, We wanted flying cars, instead we got 140 characters, Whole Earth Catalog, WikiLeaks, William Shockley: the traitorous eight, Y Combinator, Y2K, yellow journalism

“that’s somewhat unusual”: Ariana Eunjung Cha, “Peter Thiel’s Quest to Find the Key to Eternal Life,” The Washington Post, April 3, 2015, https://www.washingtonpost.com/business/on-leadership/peter-thiels-life-goal-to-extend-our-time-on-this-earth/2015/04/03/b7a1779c-4814-11e4-891d-713f052086a0_story.html. tribune of globalization: Thomas Friedman, “Welcome to the ‘Sharing Economy,” The New York Times, July 20, 2013, https://www.nytimes.com/2013/07/21/opinion/sunday/friedman-welcome-to-the-sharing-economy.html. “Got Americans to Trust Each Other”: Jason Tanz, “How Airbnb and Lyft Finally Got Americans to Trust Each Other,” Wired, April 23, 2014, https://www.wired.com/2014/04/trust-in-the-share-economy/. Thiel was concerned: Thiel’s 2009 Cato essay refers to the 1920s as the “last decade in American history during which one could be genuinely optimistic about politics,” singling out the “vast increase in welfare beneficiaries,” in addition to women’s suffrage.

., 237 Sacks, David, xvi, 35–36, 47, 53, 67, 71, 83, 89–90 The Diversity Myth, 40–42, 47, 53, 145, 202, 252, 344n Salmon, Felix, 312 Sandberg, Sheryl, viii–x, 257, 260, 292 Sanders, Bernie, xvi, 300, 304 San Francisco Chronicle, 47, 120 Sankar, Shyam, 117, 265, 310–12, 318 Saverin, Eduardo, 108–9, 159, 205 Saving Arizona PAC, 332 Scalia, Antonin, 39 Schiavo, Terri, 227 Schmidt, Eric, xiv–xv, 54, 123, 261, 275–76 Schmitt, Carl, 94 Schwartz, Richard, 268 Scowcroft, Brent, 271 seasteading, 136–38, 169, 192, 229 SEC (Securities and Exchange Commission), 86, 88, 249, 317 Seder, Sam, 287 SENS Research Foundation, 138, 326–27 September 11 attacks, see 9/11 attacks Sequoia Capital, 57, 66, 85, 86, 108, 119–20, 134–35 Sessions, Jeff, 286 700 Club, 42 Seymour, Stephanie, 228 sharing economy, 189–90 Shelton, Kathy, 243 Shockley, William, 144 Shockley Semiconductor, 143–44 Sicknick, Brian, 322 Signal, 330 Silicon Valley, vii, x, xii, 24, 43, 45–46, 54–56, 63–64, 75–76, 95, 121, 123–25, 134–35, 159, 162, 282–83, 305, 318, 334, 335 Bush and, 93–94 COVID pandemic and, 308–9 ideology of, xii, xiv, xv, xviii Karp on, 317–18 meritocracy in, 54 military-industrial complex and, 144, 145 Obama and, 262 sharing economy and, 189–90 Traitorous Eight and, 143–44 Trump and, 236, 240, 247–49, 257–64, 271, 281 Silicon Valley, 188–89, 326 Simmons, Russell, 53 Simpson, O.

“I’ve always had this really strong sense that death was a terrible, terrible thing,” he said. “I think that’s somewhat unusual.” He added that he hoped his work to extend the human lifespan would be his legacy. At the moment, Thiel’s investment firm, Founders Fund, was throwing money behind the hottest Silicon Valley trend: the “sharing economy.” The term described a class of startups in which unemployed people, or those looking for extra income, offered professional services on smartphone apps—Thiel’s firm invested in most of the biggest players. There was Lyft, a ride-hailing app that replaced taxi drivers with regular people driving their own cars.


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The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies by Erik Brynjolfsson, Andrew McAfee

"Robert Solow", 2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, 3D printing, access to a mobile phone, additive manufacturing, Airbnb, Albert Einstein, Amazon Mechanical Turk, Amazon Web Services, American Society of Civil Engineers: Report Card, Any sufficiently advanced technology is indistinguishable from magic, autonomous vehicles, barriers to entry, basic income, Baxter: Rethink Robotics, British Empire, business cycle, business intelligence, business process, call centre, Charles Lindbergh, Chuck Templeton: OpenTable:, clean water, combinatorial explosion, computer age, computer vision, congestion charging, corporate governance, creative destruction, crowdsourcing, David Ricardo: comparative advantage, digital map, employer provided health coverage, en.wikipedia.org, Erik Brynjolfsson, factory automation, falling living standards, Filter Bubble, first square of the chessboard / second half of the chessboard, Frank Levy and Richard Murnane: The New Division of Labor, Freestyle chess, full employment, G4S, game design, global village, happiness index / gross national happiness, illegal immigration, immigration reform, income inequality, income per capita, indoor plumbing, industrial robot, informal economy, intangible asset, inventory management, James Watt: steam engine, Jeff Bezos, jimmy wales, job automation, John Markoff, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, Joseph Schumpeter, Kevin Kelly, Khan Academy, knowledge worker, Kodak vs Instagram, law of one price, low skilled workers, Lyft, Mahatma Gandhi, manufacturing employment, Marc Andreessen, Mark Zuckerberg, Mars Rover, mass immigration, means of production, Narrative Science, Nate Silver, natural language processing, Network effects, new economy, New Urbanism, Nicholas Carr, Occupy movement, oil shale / tar sands, oil shock, pattern recognition, Paul Samuelson, payday loans, post-work, price stability, Productivity paradox, profit maximization, Ralph Nader, Ray Kurzweil, recommendation engine, Report Card for America’s Infrastructure, Robert Gordon, Rodney Brooks, Ronald Reagan, Second Machine Age, self-driving car, sharing economy, Silicon Valley, Simon Kuznets, six sigma, Skype, software patent, sovereign wealth fund, speech recognition, statistical model, Steve Jobs, Steven Pinker, Stuxnet, supply-chain management, TaskRabbit, technological singularity, telepresence, The Bell Curve by Richard Herrnstein and Charles Murray, The Signal and the Noise by Nate Silver, The Wealth of Nations by Adam Smith, total factor productivity, transaction costs, Tyler Cowen: Great Stagnation, Vernor Vinge, Watson beat the top human players on Jeopardy!, winner-take-all economy, Y2K

Alyson Shontell, “Founder Q&A: Make a Boatload of Money Doing Your Neighbor’s Chores on TaskRabbit,” Business Insider, October 27, 2011, http://www.businessinsider.com/taskrabbit-interview-2011-10 (accessed August 12, 2013). 29. Tomio Geron, “Airbnb and the Unstoppable Rise of the Share Economy,” Forbes, January 23, 2013, http://www.forbes.com/sites/tomiogeron/2013/01/23/airbnb-and-the-unstoppable-rise-of-the-share-economy/ (accessed August 12, 2013). 30. Johnny B., “TaskRabbit Names Google Veteran Stacy Brown-Philpot as Chief Operating Officer,” TaskRabbit Blog, January 14, 2013, https://www.taskrabbit.com/blog/taskrabbit-news/taskrabbit-names-google-veteran-stacy-brown-philpot-as-chief-operating-officer/ (accessed August 12, 2013). 31.

In fact, much of the change has been invisible for a long time simply because we did not know what to look for. There’s a huge layer of the economy unseen in the official data and, for that matter, unaccounted for on the income statements and balance sheets of most companies. Free digital goods, the sharing economy, intangibles and changes in our relationships have already had big effects on our well-being. They also call for new organizational structures, new skills, new institutions, and perhaps even a reassessment of some of our values. Music to Your Ears The story of music’s move from physical media to computer files has been told often and well, but one of that transition’s most interesting aspects is less discussed.

Research by Michael Luca of Harvard Business School has found that the increased transparency has helped smaller independent restaurants compete with bigger chains because customers can more quickly find quality food via rating services like Yelp, reducing their reliance on brand names’ expensive marketing campaigns.17 The intangible benefits delivered by the growing sharing economy—better matches, timeliness, customer service, and increased convenience—are exactly the types of benefits identified by the 1996 Boskin Commission as being poorly measured in our official price and GDP statistics.18 This is another way in which our true growth is greater than the standard data suggest.


pages: 458 words: 116,832

The Costs of Connection: How Data Is Colonizing Human Life and Appropriating It for Capitalism by Nick Couldry, Ulises A. Mejias

"side hustle", 23andMe, Airbnb, Amazon Mechanical Turk, Amazon Web Services, British Empire, call centre, Cass Sunstein, choice architecture, cloud computing, colonial rule, computer vision, corporate governance, dark matter, data acquisition, data is the new oil, different worldview, discovery of the americas, disinformation, diversification, Edward Snowden, en.wikipedia.org, European colonialism, gig economy, global supply chain, Google Chrome, Google Earth, hiring and firing, income inequality, independent contractor, information asymmetry, Infrastructure as a Service, intangible asset, Internet of things, Jaron Lanier, job automation, Kevin Kelly, late capitalism, lifelogging, linked data, Marc Andreessen, Mark Zuckerberg, means of production, move fast and break things, move fast and break things, multi-sided market, Naomi Klein, Network effects, new economy, New Urbanism, PageRank, pattern recognition, payday loans, Philip Mirowski, profit maximization, Ray Kurzweil, RFID, Richard Stallman, Richard Thaler, Scientific racism, Second Machine Age, sharing economy, Shoshana Zuboff, Silicon Valley, Slavoj Žižek, smart cities, Snapchat, social graph, social intelligence, software studies, sovereign wealth fund, surveillance capitalism, The Future of Employment, the scientific method, Thomas Davenport, Tim Cook: Apple, trade liberalization, trade route, undersea cable, urban planning, wages for housework

Despite the challenges that gig workers face, those who celebrate the “disruptive” effects that the sharing economy is having on traditional sectors (hotel and taxi companies, for instance) could perhaps be excused for seeing in all this a benefit for society—cheaper services. What is missing from such an analysis, however, is any discussion of long-term effects. The buyers of gig services today may enjoy lower costs, but if more and more of them are forced to become the providers of gig services tomorrow, then the “disruption” that the sharing economy is creating is clearly negative over the longer term. Surveilled Labor Not only are workers’ conditions becoming more precarious, but their moment-to-moment activities are also becoming increasingly monitored.

Work, for many, increasingly occurs within the sort of corporate environment of sensors that Davenport imagined; in its absoluteness, this recalls the continuous surveillance, if not the violence, that slave labor endured on a large scale under historical colonialism.37 Labor relations are becoming more directly and continuously extractive, whatever the formalities that cloak them.38 This has implications too for inequality, as exposure to (or freedom from) continuous surveillance becomes a key factor that distinguishes lower-status from higher-status jobs. New forms of labor are also emerging under data colonialism in the “sharing economy.” Here data relations are fused with labor relations, although the existence of labor relations is controversially denied by platforms such as Uber.39 These new hybrid data/labor relations encompass a huge variety of more or less formalized work, including data processing.40 Labor is captured in a seemingly “scale-less” business model that detaches workers from institutional supports but richly rewards platform management.

And yet, these trends are paradoxically being hailed—in the words of an Uber executive and former Clinton administration strategist—as “democratizing capitalism” and “driving wealth down to the people.”81 A Pew report from 201682 put the supposedly transformative impact of the gig economy into perspective: 24 percent of Americans in that year reported making money from gig platforms, with only 8 percent (around twenty-six million) doing so from employment, as opposed to other activities such as selling things on eBay. For comparison purposes, in China the sharing economy generated $500 billion in transactions involving six hundred million people in 2015 alone (although “sharing” in this context might simply mean renting a bicycle from one of the forty companies that facilitate fifty million rides every day).83 The gig economy, for all its limitations, has significance as an exemplar of where capitalism is heading.


pages: 309 words: 78,361

Plenitude: The New Economics of True Wealth by Juliet B. Schor

Asian financial crisis, big-box store, business climate, business cycle, carbon footprint, cleantech, Community Supported Agriculture, creative destruction, credit crunch, Daniel Kahneman / Amos Tversky, decarbonisation, dematerialisation, demographic transition, deskilling, Edward Glaeser, en.wikipedia.org, Gini coefficient, global village, IKEA effect, income inequality, income per capita, Intergovernmental Panel on Climate Change (IPCC), Isaac Newton, Joseph Schumpeter, Kenneth Arrow, knowledge economy, life extension, McMansion, new economy, peak oil, pink-collar, post-industrial society, prediction markets, purchasing power parity, ride hailing / ride sharing, Robert Shiller, Robert Shiller, sharing economy, Simon Kuznets, single-payer health, smart grid, The Chicago School, Thomas L Friedman, Thomas Malthus, too big to fail, transaction costs, Yochai Benkler, Zipcar

The Share Solution When I published The Overspent American in 1998, one sentence generated a reaction akin to outrage—my suggestion that neighbors could share expensive items that are only used periodically, such as riding mowers. Ten years later, it’s not only mowers that are being jointly owned, but tractors and even vehicles. The sharing economy is taking off. The best-known example is car sharing, pioneered in the United States by Zipcar, which makes vehicles available to urban members on a short-term basis. Its founder, Robin Chase, has moved on to create GoLoco, a ride-sharing service. Freecycle.org members are committed to the reciprocity of both giving and getting.

When money is cheap, nature isn’t counted, and time is expensive, as in the BAU economy, where incentives favor private ownership. A shift toward plenitude, which economizes on materials and is rich in time, enhances the value of sharing. Recapitalizing the Social: Economies of Reciprocity For the vanguard that is passionate about the sharing economy, it is a matter of more than ecological appeal. Sharing is a route to rebuilding social ties in a society that has experienced a rise in disconnection, loneliness, and individualism. Bioneers understand that reconstructing community, or recapitalizing the social, is a necessary adaptation for an economically and ecologically perilous world.

Business Alliance for Local Living Economies business-as-usual (BAU) economy decline of environmental impact of extra-market diversification and origin of term for systems dynamics and unemployment and California Closets Canada: health care system in hours worked in materials use in sharing economy in canning and preserving capitalism carbon dioxide atmospheric concentration of carbon footprint carbon pricing cashmere cell phones environmental impact of storage and disposal of Census of Manufactures Center for Alternative Technologies Center for Economic and Policy Research ceramics, imported, weight of chain stores, market power of Chase, Robin child care China commodities use by ecological footprint in greenhouse gas emissions and historical carbon emissions of Kuznets model and population and Chrysler Corp.


pages: 380 words: 109,724

Don't Be Evil: How Big Tech Betrayed Its Founding Principles--And All of US by Rana Foroohar

"side hustle", accounting loophole / creative accounting, Airbnb, algorithmic bias, AltaVista, autonomous vehicles, banking crisis, barriers to entry, Bernie Madoff, Bernie Sanders, bitcoin, book scanning, Brewster Kahle, Burning Man, call centre, cashless society, cleantech, cloud computing, cognitive dissonance, Colonization of Mars, computer age, corporate governance, creative destruction, Credit Default Swap, cryptocurrency, data is the new oil, death of newspapers, Deng Xiaoping, disinformation, disintermediation, don't be evil, Donald Trump, drone strike, Edward Snowden, Elon Musk, en.wikipedia.org, Erik Brynjolfsson, Etonian, Filter Bubble, future of work, game design, gig economy, global supply chain, Gordon Gekko, greed is good, income inequality, independent contractor, informal economy, information asymmetry, intangible asset, Internet Archive, Internet of things, invisible hand, Jaron Lanier, Jeff Bezos, job automation, job satisfaction, Kenneth Rogoff, life extension, light touch regulation, Lyft, Mark Zuckerberg, Marshall McLuhan, Martin Wolf, Menlo Park, move fast and break things, move fast and break things, Network effects, new economy, offshore financial centre, PageRank, patent troll, paypal mafia, Peter Thiel, pets.com, price discrimination, profit maximization, race to the bottom, recommendation engine, ride hailing / ride sharing, Robert Bork, Sand Hill Road, search engine result page, self-driving car, shareholder value, sharing economy, Shoshana Zuboff, Silicon Valley, Silicon Valley startup, smart cities, Snapchat, South China Sea, sovereign wealth fund, Steve Bannon, Steve Jobs, Steven Levy, subscription business, supply-chain management, surveillance capitalism, TaskRabbit, Telecommunications Act of 1996, The Chicago School, the new new thing, Tim Cook: Apple, too big to fail, Travis Kalanick, trickle-down economics, Uber and Lyft, Uber for X, uber lyft, Upton Sinclair, WeWork, WikiLeaks, zero-sum game

It’s been estimated that globally, 60 percent of all occupations will, in the next few years, be substantially redefined because of new disruptive technologies.60 It’s not only low-level or menial jobs that will be automated—it’s all jobs. In fact, there’s a case to be made that “knowledge work”—radiology, law, sales, and finance—will actually be automated faster than more physical jobs in areas like healthcare and manufacturing. Moreover, even in fields where humans can’t be replaced entirely, the gig economy and the “sharing” economy—driven, of course, by tech firms—have dramatically increased the number of contingency workers without benefits.61 Beyond these relatively easy-to-track numbers is perhaps a deeper and more worrisome issue, which is the way in which data-driven capitalism has turned people into the factory inputs of the digital age.

Billion-dollar venture funds, once unheard of, are now commonplace. Last year, Sequoia raised an $8 billion seed fund, and SoftBank a whopping $100 billion fund. Big, of course, begets big. Charismatic CEOs and their PR teams drum out compelling narratives around these sectors (wearables, electric cars, the “sharing” economy, cybersecurity). Then they send market signals about their own “value” with announcements that play off these narratives: Uber’s $680 million purchase of self-driving truck firm Otto, for example. Venture capitalists and private equity investors keep the bubble going by buying into it at higher and higher valuations.

She found that, not surprisingly, while Uber itself took most of the upside of the business, drivers were often left to bear the cost and the downsides of the disruptive technology on their own. Lyft, Uber’s biggest competitor, has always been known as the kinder, gentler ridesharing company, in part because its CEO Logan Green has been more inclined to discuss the downsides of the sharing economy in a thoughtful and open way (that and the fact that he hasn’t been caught on a dashcam screaming at his own drivers). Green is, for example, concerned about the potential mass displacement of drivers in the United States (which represents the largest single category of work for men with a high school degree or less) by autonomous vehicles.


pages: 324 words: 89,875

Modern Monopolies: What It Takes to Dominate the 21st Century Economy by Alex Moazed, Nicholas L. Johnson

3D printing, Affordable Care Act / Obamacare, Airbnb, altcoin, Amazon Web Services, barriers to entry, basic income, bitcoin, blockchain, Chuck Templeton: OpenTable:, cloud computing, commoditize, connected car, disintermediation, future of work, gig economy, hockey-stick growth, if you build it, they will come, information asymmetry, Infrastructure as a Service, intangible asset, Internet of things, invisible hand, jimmy wales, John Gruber, Kickstarter, Lean Startup, Lyft, Marc Andreessen, Mark Zuckerberg, Marshall McLuhan, means of production, Metcalfe’s law, money market fund, multi-sided market, Network effects, patent troll, peer-to-peer lending, Peter Thiel, pets.com, platform as a service, QWERTY keyboard, Ray Kurzweil, ride hailing / ride sharing, road to serfdom, Robert Metcalfe, Ronald Coase, self-driving car, sharing economy, Silicon Valley, Skype, Snapchat, social graph, software as a service, software is eating the world, source of truth, Startup school, Steve Jobs, TaskRabbit, the medium is the message, transaction costs, transportation-network company, traveling salesman, Travis Kalanick, two-sided market, Uber and Lyft, Uber for X, uber lyft, white flight, winner-take-all economy, Y Combinator

Concepts like the value chain and economies of scale provided incremental improvements on the old, linear model. But the shift from linear businesses to platforms that we’re seeing today is not incremental. Rather, it’s massive and immediate. Despite all the controversy around Uber and the so-called sharing economy, the magnitude of change that platforms have brought to our society has gone largely unnoticed. In fact, this shift is much larger than the sharing economy, as platforms encompass many more areas of economic activity. And it will only continue in the future when connected technology is adopted by more and more industries. The rest of this book will help you understand how and why these businesses work and, just as important, when they won’t.

Krueger, “An Analysis of the Labor Market for Uber’s Driver-Partners in the United States,” January 22, 2015 (http://dataspace.princeton.edu/jspui/bitstream/88435/dsp010z708z67d/5/587.pdf), which we collated with leaked customer numbers from: Nitasha Tiku, “Leaked: Uber’s Internal Revenue and Ride Request Numbers,” Valleywag, December 4, 2013, http://valleywag.gawker.com/leaked-ubers-internal-revenue-and-ride-request-number-1475924182. Another source, “Uber Spearheads Growth of the Shared Economy in Mexico,” Global Delivery Report, July 9, 2014 (http://globaldeliveryreport.com/uber-spearheads-growth-of-the-shared-economy-in-mexico/), puts the driver/passenger ratio at about 1 to 8, but exact, up-to-date data is not publicly available. 2. Tom Cheredar, “Airbnb Admits Gaming Craigslist, Blames Rogue Contractors,” Venture Beat News, June 2, 2011, http://venturebeat.com/2011/06/02/airbnb-admits-gaming-craigslist/. 3.

Glen Weyl has acted as an advisor to Applico in the past. 12. David Plouffe, “Uber and the American Worker,” Medium, November 5, 2015, https://medium.com/@davidplouffe/uber-and-the-american-worker-bdd499ec5323#.24uxoctyq. 13. Georgios Zervas, David Prosperio, and John Byers, “The Rise of the Sharing Economy: Estimating the Impact of Airbnb on the Hotel Industry,” May 7, 2015, http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2366898. 14. Paul Carsten, “Alibaba’s Singles’ Day Sales Surge 60 Percent to $14.3 Billion,” Reuters, November 11, 2015, http://www.reuters.com/article/us-alibaba-singles-day-idUSKCN0SZ34J20151112. 15.


pages: 441 words: 96,534

Streetfight: Handbook for an Urban Revolution by Janette Sadik-Khan

autonomous vehicles, bike sharing scheme, Boris Johnson, business cycle, call centre, car-free, carbon footprint, clean water, congestion charging, crowdsourcing, digital map, edge city, Edward Glaeser, en.wikipedia.org, Enrique Peñalosa, Hyperloop, Induced demand, Jane Jacobs, Loma Prieta earthquake, Lyft, New Urbanism, place-making, self-driving car, sharing economy, the built environment, The Death and Life of Great American Cities, the High Line, transportation-network company, Uber and Lyft, uber lyft, urban decay, urban planning, urban renewal, urban sprawl, walkable city, white flight, Works Progress Administration, Zipcar

Other credits appear in the captions of the respective images. 978-0-698-40941-5 Cover design: Evan Gaffney Cover images: (city background) Merten Snijders/Getty Images; (cyclist) Biederbick & Rumpf/F1 Online/Superstock; (businessman) Massimo Colombo/Getty Images Version_1 To the men and women of the New York City Department of Transportation Contents Title Page Copyright Dedication Preface INTRODUCTION A New Street Code CHAPTER 1 The Fight CHAPTER 2 Density Is Destiny CHAPTER 3 Setting the Agenda CHAPTER 4 How to Read the Street CHAPTER 5 Follow the Footsteps CHAPTER 6 Battle for a New Times Square CHAPTER 7 Stealing Good Ideas CHAPTER 8 Bike Lanes and Their Discontents CHAPTER 9 Bike Share: A New Frontier in the Shared Economy CHAPTER 10 Safety in Numbers CHAPTER 11 Sorry to Interrupt, but We Have to Talk About Buses CHAPTER 12 Measuring the Street CHAPTER 13 Nuts and Bolts CHAPTER 14 The Fight Continues Photographs Acknowledgments Notes Index Preface My six-year, seven-month, eighteen-day tenure as New York City transportation commissioner began with a meeting at City Hall, at the foot of the Brooklyn Bridge, in early spring 2007.

Judged from the street and by the sight of ordinary people riding bikes as basic transportation and not as a political statement, a new road order for cities had become a self-evident fact on the streets of New York. “The biggest mischaracterization about the infamous New York Cycling War is that there’s a war at all,” wrote a columnist for The Wall Street Journal. “Look all around you. The bikes have won, and it’s not a terrible thing.” 9 Bike Share: A New Frontier in the Shared Economy Just after eleven p.m. my e-mail inbox exploded with messages from viewers tuned to The Daily Show with Jon Stewart. I was out that night at an event and had missed the entire show, but quickly figured out that Stewart had just given Citi Bike the full comic treatment. “There are a lot of important stories in the world right now,” Jon Stewart said to open the show, and “one of the most important is happening right here in New York City.”

Under Bloomberg’s successor, Citi Bike would expand far beyond its original launch area, moving up the Upper East and Upper West sides and into Long Island City, Queens, and Park Slope, Brooklyn. The Great Bike Panic could no longer be reported with a straight face. The bikes had truly won, forging a new frontier in the shared economy. 10 Safety in Numbers Early on a Thursday in late February, six-year-old Amar Diarrassouba and his older brother approached the intersection of 116th Street and First Avenue in East Harlem, the final crosswalk in their daily walk to Public School 155. When the light turned green, the driver of a tractor-trailer on 116th Street started to turn right onto First Avenue, into the crosswalk where Amar started crossing with his brother.


pages: 296 words: 82,501

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, commoditize, creative destruction, crowdsourcing, David Brooks, Fall of the Berlin Wall, happiness index / gross national happiness, hedonic treadmill, high net worth, income inequality, Intergovernmental Panel on Climate Change (IPCC), James Hargreaves, Joseph Schumpeter, Kitchen Debate, Martin Wolf, mass immigration, McMansion, means of production, Nate Silver, Occupy movement, Paul Samuelson, post-industrial society, post-materialism, Richard Florida, Richard Thaler, sharing economy, Silicon Valley, Simon Kuznets, Skype, spinning jenny, The future is already here, The Signal and the Noise by Nate Silver, The Theory of the Leisure Class by Thorstein Veblen, Thorstein Veblen, Tyler Cowen: Great Stagnation, World Values Survey, Zipcar

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.

As well as giving people the chance to borrow other people’s goods, it also lets them share a good they already own: their own home. Beyond the obvious financial reward, there is also a participatory, social good that comes with Airbnb. It provides the people who let their rooms and their homes, and the people who stay there, with real connections. As a result, they tend to feel part of the new, innovative sharing economy, they feel more connected to other people, and they have more stories to share. Apple has become the world’s leading brand because of its ruthless focus on experience. Think, for a moment, how easy it is to operate an Apple device, and how slim the operating manual is. How different is that to the manual that came with, say, your VHS recorder in the 1980s?

., Resource Revolution: Meeting the World’s Energy, Materials, Food, and Water Needs, a report from McKinsey & Company (November, 2011). Also, “Hitting our Limits?”, The Economist, 14 October 2011. “A technologist…” For examples of technology facilitating the shift from owning material things to experience, consider the success of Spotify, Zipcar, and the Kindle. Various sources, including: “All Eyes on the Sharing Economy”, The Economist, 9 Mar 2013. The Perfect Storm Applied more than 5,000 times Source: Everett M Rogers, Diffusion of Innovations (New York: Free Press, 1962, fifth edition, 2003) Sherlock Holmes and the Mystery of the Krispy Kremes This story draws on a number of reports, including: Peter Laing, “Cops Tackle Krispy Kreme Traffic Chaos – and Pick up a Box of Doughnuts”, Deadline News, 15 February 2013; Shiv Malik, “Krispy Kremes Cause Chaos in Edinburgh Streets”, The Guardian, 15 February 2013; and Harriet Arkell, “Jam Doughnuts: Hundreds of Motorists Bring Traffic Chaos to M8 as They Queue for Opening of New Krispy Kreme”, Mail Online, 15 February 2013.


pages: 308 words: 85,880

How to Fix the Future: Staying Human in the Digital Age by Andrew Keen

23andMe, Ada Lovelace, Affordable Care Act / Obamacare, Airbnb, Albert Einstein, Andrew Keen, Apple's 1984 Super Bowl advert, augmented reality, autonomous vehicles, basic income, Bernie Sanders, bitcoin, Black Swan, blockchain, Brewster Kahle, British Empire, computer age, creative destruction, crowdsourcing, data is the new oil, digital map, disinformation, don't be evil, Donald Trump, Edward Snowden, Elon Musk, Erik Brynjolfsson, European colonialism, Filter Bubble, Firefox, full employment, future of work, gig economy, global village, income inequality, independent contractor, informal economy, Internet Archive, Internet of things, invisible hand, Isaac Newton, James Watt: steam engine, Jane Jacobs, Jaron Lanier, Jeff Bezos, jimmy wales, job automation, Joi Ito, Kevin Kelly, knowledge economy, Lyft, Marc Andreessen, Mark Zuckerberg, Marshall McLuhan, Menlo Park, Mitch Kapor, move fast and break things, move fast and break things, Network effects, new economy, Nicholas Carr, Norbert Wiener, Parag Khanna, peer-to-peer, Peter Thiel, Plutocrats, plutocrats, postindustrial economy, precariat, Ralph Nader, Ray Kurzweil, rent-seeking, ride hailing / ride sharing, Sam Altman, Sand Hill Road, Second Machine Age, self-driving car, sharing economy, Silicon Valley, Silicon Valley ideology, Silicon Valley startup, Skype, smart cities, Snapchat, social graph, software is eating the world, Stephen Hawking, Steve Jobs, Steve Wozniak, surveillance capitalism, technoutopianism, The Future of Employment, the High Line, the new new thing, Thomas L Friedman, Tim Cook: Apple, Travis Kalanick, Uber and Lyft, Uber for X, uber lyft, universal basic income, Unsafe at Any Speed, Upton Sinclair, urban planning, WikiLeaks, winner-take-all economy, Y Combinator, Yogi Berra, Zipcar

This is emblematic of an increasingly unequal economy where, in truth, multibillion-dollar start-ups like Uber and Lyft share none of their stratospheric value with their workers. Indeed, a July 2017 report about the gig economy by the British MP Frank Field alleges that some self-employed UK drivers are earning only £2.50 an hour working for sharing economy companies like Parcelforce and webuyanycar.com.30 “In reality, there is no utopia at companies like Uber, Lyft, Instacart and Handy, whose workers are often manipulated into working long hours for low wages while continually chasing the next ride or task,” that 2017 New York Times editorial argues.31 Or, as the New Yorker staff writer Jia Tolentino bluntly put it, commenting on the cult of work celebrated by on-demand companies such as the freelance marketplace Fiverr, “The gig economy celebrates working yourself to death.”32 My own experience as a heavy Uber user chimes with these conclusions.

In 2015, for example, the Seattle City Council voted unanimously to approve a bill that allows drivers for ride-hailing apps to form unions.44 In 2016 a London employment tribunal ruled that these drivers are indeed entitled to workers’ rights, including the national minimum wage and paid holidays.45 In 2016 Uber paid $25 million to settle a lawsuit filed by the cities of Los Angeles and San Francisco claiming that the rideshare company misled customers with a “false sense of security” about its checks on drivers.46 In Austin, Texas, voters rejected Uber’s and Lyft’s proposal to self-regulate their services. Trust us, this 2016 local referendum asked. No, the voters replied.47 Politicians around the world are also working to responsibly regulate other areas of the sharing economy. Shannon Liss-Riordan’s political ally, Massachusetts senator Elizabeth Warren, has taken on Airbnb, claiming that the $31 billion–valued home-sharing start-up is forcing up rents in large cities. In October 2016 Warren established a coalition of lawmakers from more than a dozen cities, urging the Federal Trade Commission (FTC) to “help cities protect consumers” and to study how the short-term rental market is affecting the overall rental market.48 In November 2016 regulators in New York City and San Francisco successfully got Airbnb to establish a “one host, one home” rule for new hosts as a defense against rising rents.

The case for a universal basic income is also shared by many technologists and entrepreneurs, who see it as an essential feature—perhaps even the central social security pillar—of tomorrow’s networked society. Robin Chase, the former CEO of both Zipcar and Buzzcar and a leading evangelist for the sharing economy, tells me that universal basic income represents a kind of investment that will allow us to “tap into people’s talents.” There will, she promises me, be a “huge uptick in happiness, creativity, and productivity” after its introduction. More ominously, Stowe Boyd, a Boston-based influential technology commentator and researcher who describes himself as a “post-futurist,” warns me that unless we introduce universal basic income, there will be “homelessness sixteen deep in the streets.”


pages: 271 words: 52,814

Blockchain: Blueprint for a New Economy by Melanie Swan

23andMe, Airbnb, altcoin, Amazon Web Services, asset allocation, banking crisis, basic income, bioinformatics, bitcoin, blockchain, capital controls, cellular automata, central bank independence, clean water, cloud computing, collaborative editing, Conway's Game of Life, crowdsourcing, cryptocurrency, disintermediation, Dogecoin, Edward Snowden, en.wikipedia.org, Ethereum, ethereum blockchain, fault tolerance, fiat currency, financial innovation, Firefox, friendly AI, Hernando de Soto, intangible asset, Internet Archive, Internet of things, Khan Academy, Kickstarter, lifelogging, litecoin, Lyft, M-Pesa, microbiome, Network effects, new economy, peer-to-peer, peer-to-peer lending, peer-to-peer model, personalized medicine, post scarcity, prediction markets, QR code, ride hailing / ride sharing, Satoshi Nakamoto, Search for Extraterrestrial Intelligence, SETI@home, sharing economy, Skype, smart cities, smart contracts, smart grid, software as a service, technological singularity, Turing complete, uber lyft, unbanked and underbanked, underbanked, web application, WikiLeaks

Beyond these situations in which a public interest must transcend governmental power structures, other industry sectors and classes can be freed from skewed regulatory and licensing schemes subject to the hierarchical power structures and influence of strongly backed special interest groups on governments, enabling new disintermediated business models. Even though regulation spurred by the institutional lobby has effectively crippled consumer genome services,3 newer sharing economy models like Airbnb and Uber have been standing up strongly in legal attacks from incumbents.4 In addition to economic and political benefits, the coordination, record keeping, and irrevocability of transactions using blockchain technology are features that could be as fundamental for forward progress in society as the Magna Carta or the Rosetta Stone.

The same templated altcoin issuance could extend to groups within these communities, like DeltaChiCoin or NeuroscienceConferenceCoin, to support any specific group’s activities. The Campuscoin issuance template could have specific prepackaged modules. First, there could be a module for buying and selling assets within the local community, an OpenBazaar- or Craigslist-like asset exchange module. Second, there could be a sharing economy module, a decentralized model of Airbnb for dorm rooms, Getaround for transportation including cars and bikes, and LaZooz peer-based ride sharing. Third, there could be a consulting or “advisory services” module for all manner of advice, mentoring, coaching, and tutoring related to classes, departments, majors, and careers.

The license would encompass anyone doing anything with anyone else’s Bitcoins, including basic wallet software (like the QT wallet).192 However, on the other hand, regulated consumer protections for Bitcoin industry participants, like KYC (know your customer) requirements for money service businesses (MSBs), could hasten the mainstream development of the industry and eradicate consumer worry of the hacking raids that seem to plague the industry. The deliberations and early rulings of worldwide governments on Bitcoin raise some interesting questions. One issue is the potential practical impossibility of carrying out taxation with current methods. A decentralized peer-to-peer sharing economy of Airbnb 2.0 and Uber 2.0 run on local implementations of OpenBazaar with individuals paying with cryptocurrencies renders traditional taxation structures impossible. The usual tracking and chokehold points to trace the consumption of goods and services might be gone. This has implications both for taxation and for the overall measurement of economic performance such as GDP calculations, which could have the beneficial impact of drawing populaces away from being overly and possibly incorrectly focused on consumption as a wellness metric.


pages: 307 words: 88,180

AI Superpowers: China, Silicon Valley, and the New World Order by Kai-Fu Lee

AI winter, Airbnb, Albert Einstein, algorithmic bias, algorithmic trading, artificial general intelligence, autonomous vehicles, barriers to entry, basic income, business cycle, cloud computing, commoditize, computer vision, corporate social responsibility, creative destruction, crony capitalism, Deng Xiaoping, deskilling, Donald Trump, Elon Musk, en.wikipedia.org, Erik Brynjolfsson, full employment, future of work, gig economy, Google Chrome, happiness index / gross national happiness, if you build it, they will come, ImageNet competition, impact investing, income inequality, informal economy, Internet of things, invention of the telegraph, Jeff Bezos, job automation, John Markoff, Kickstarter, knowledge worker, Lean Startup, low skilled workers, Lyft, mandatory minimum, Mark Zuckerberg, Menlo Park, minimum viable product, natural language processing, new economy, pattern recognition, pirate software, profit maximization, QR code, Ray Kurzweil, recommendation engine, ride hailing / ride sharing, risk tolerance, Robert Mercer, Rodney Brooks, Rubik’s Cube, Sam Altman, Second Machine Age, self-driving car, sentiment analysis, sharing economy, Silicon Valley, Silicon Valley ideology, Silicon Valley startup, Skype, special economic zone, speech recognition, Stephen Hawking, Steve Jobs, strong AI, The Future of Employment, Travis Kalanick, Uber and Lyft, uber lyft, universal basic income, urban planning, Y Combinator

As with any technological revolution, many workers will find the new tools both imperfect in their uses and potentially threatening in their implications. But these tools will only improve with time, and those who seek to compete against AI on its own terms will lose out. In the long run, resistance may be futile, but symbiosis will be rewarded. Finally, the internet-enabled sharing economy will contribute significantly to alleviating job losses and redefining work for the AI age. We’ll see more people step out of traditional careers that are being taken over by algorithms, instead using new platforms that apply the “Uber model” to a variety of services. We see this already in Care.com, an online platform for connecting caregivers and customers, and I believe we will see a blossoming of analogous models in education and other fields.

We see this already in Care.com, an online platform for connecting caregivers and customers, and I believe we will see a blossoming of analogous models in education and other fields. Many mass-market goods and services will be captured by data and optimized by algorithms, but some of the more piecemeal or personalized work within the sharing economy will remain the exclusive domain of humans. In the past, this type of work was constrained by the bureaucratic costs of running a vertical company that attracted customers, dispatched workers, and kept everyone on the payroll even when there wasn’t work to be done. The platformatization of these industries dramatically increases their efficiency, increasing total demand and take-home pay for the service workers themselves.

The platformatization of these industries dramatically increases their efficiency, increasing total demand and take-home pay for the service workers themselves. Adding AI to the equation—as ride-hailing companies like Didi and Uber have already done—will only further boost efficiency and attract more workers. Beyond the established roles in the sharing economy, I’m confident we will see entirely new service jobs emerge that we can hardly imagine today. Explain to someone in the 1950s what a “life coach” was and they’d probably think you were goofy. Likewise, as AI frees up our time, creative entrepreneurs and ordinary people will leverage these platforms to create new kinds of jobs.


pages: 125 words: 28,222

Growth Hacking Techniques, Disruptive Technology - How 40 Companies Made It BIG – Online Growth Hacker Marketing Strategy by Robert Peters

Airbnb, bounce rate, business climate, citizen journalism, crowdsourcing, digital map, Google Glasses, Jeff Bezos, Lean Startup, Menlo Park, Network effects, new economy, pull request, revision control, ride hailing / ride sharing, search engine result page, sharing economy, Skype, TaskRabbit, turn-by-turn navigation, ubercab

Although facing stiff competition from Groupon, LivingSocial is still very much in the game and well positioned for even greater growth. Sidecar Defining the prevailing zeitgeist at any moment in time can be a powerful but difficult growth hack, but San Francisco-based Sidecar, a major competitor with Uber in the sector of peer-to-peer ride sharing seems to be a good market fit for the rapidly emerging Sharing Economy. In the months following its January 2012 launch in San Francisco, the company experienced 60% month-over-month growth and secured impressive funding starting with $20 million in seed money. Like Uber, SideCar opted for a “proof is in the pudding” approach to demonstrating its value at the influential SXSW tech conference in Austin, Texas from March 8-17, 2013.

For this age group, however, real freedom is simply having ready access to transportation that meets their needs. The fact that Sidecar is smartphone based further caters to this ethos since the basic assumption is that the smartphone is the central hub of activity and means of organization and connection for the current crop of twenty-somethings. Within this age bracket, the sharing economy has gained considerable traction as evidence by the success of other startups with a similar philosophical bent like AirBnB. With services like Sidecar, all parties benefit — riders and drivers. The latest iteration of the Sidecar app lets user tailor their rides by type of vehicle type, driver, and price as well as proximity to their current location.


pages: 348 words: 97,277

The Truth Machine: The Blockchain and the Future of Everything by Paul Vigna, Michael J. Casey

3D printing, additive manufacturing, Airbnb, altcoin, Amazon Web Services, barriers to entry, basic income, Berlin Wall, Bernie Madoff, bitcoin, blockchain, blood diamonds, Blythe Masters, business process, buy and hold, carbon footprint, cashless society, cloud computing, computer age, computerized trading, conceptual framework, Credit Default Swap, crowdsourcing, cryptocurrency, cyber-physical system, dematerialisation, disinformation, disintermediation, distributed ledger, Donald Trump, double entry bookkeeping, Edward Snowden, Elon Musk, Ethereum, ethereum blockchain, failed state, fault tolerance, fiat currency, financial innovation, financial intermediation, Garrett Hardin, global supply chain, Hernando de Soto, hive mind, informal economy, intangible asset, Internet of things, Joi Ito, Kickstarter, linked data, litecoin, longitudinal study, Lyft, M-Pesa, Marc Andreessen, market clearing, mobile money, money: store of value / unit of account / medium of exchange, Network effects, off grid, pets.com, prediction markets, pre–internet, price mechanism, profit maximization, profit motive, ransomware, rent-seeking, RFID, ride hailing / ride sharing, Ross Ulbricht, Satoshi Nakamoto, self-driving car, sharing economy, Silicon Valley, smart contracts, smart meter, Snapchat, social web, software is eating the world, supply-chain management, Ted Nelson, the market place, too big to fail, trade route, Tragedy of the Commons, transaction costs, Travis Kalanick, Turing complete, Uber and Lyft, uber lyft, unbanked and underbanked, underbanked, universal basic income, web of trust, zero-sum game

That failure was clear in the subsequent Internet 2.0 phase, which unlocked the power of social networks but also allowed first-mover companies to turn network effects into entrenched monopoly power. These included social media giants like Facebook and Twitter and e-marketplace success stories of the “sharing economy” such as Uber and Airbnb. Blockchain technologies, as well as other ideas contained in this Internet 3.0 phase, aim to do away with these intermediaries altogether, letting people forge their own bonds of trust to build social networks and business arrangements on their own terms. The promise lies not just in disrupting the behemoths of the Internet, however.

Even so, the data suggest that black-hat hackers are among the most financially successful innovators of the Internet era. This colossal failure to protect global commerce is directly attributable to a mismatch between the centralized way in which we process and store information and the decentralizing tendencies of a global “sharing” economy that’s pushing for more peer-to-peer and device-to-device commerce. As more people connect over peer-to-peer social networks and use online services, and as more so-called Internet of Things (IoT) devices such as smart thermostats and refrigerators and even cars join the network, ever more access points are created.

Once this decentralized trust structure is in place, it opens up a world of new possibilities. Consider this futuristic example: Imagine you drive your electric Tesla car to a small rural town to take a hike in the mountains for the day. When you return you realize you don’t have enough juice in your car and the nearest Tesla Supercharger station is too far away. Well, in a sharing economy enabled by blockchains, you would have nothing to fear. You could just drive up to any house that advertises that it lets drivers plug into an outlet and buy power from it. You could pay for it all with cryptocurrency over a high-volume payments system, such as the Lightning Network, and the tokens would be deducted from your car’s own digital wallet and transferred to the wallet of the house’s electric meter.


pages: 393 words: 91,257

The Coming of Neo-Feudalism: A Warning to the Global Middle Class by Joel Kotkin

Admiral Zheng, Andy Kessler, autonomous vehicles, basic income, Bernie Sanders, call centre, Capital in the Twenty-First Century by Thomas Piketty, carbon footprint, Cass Sunstein, clean water, creative destruction, deindustrialization, demographic transition, don't be evil, Donald Trump, edge city, Elon Musk, European colonialism, financial independence, Francis Fukuyama: the end of history, gig economy, Gini coefficient, Google bus, guest worker program, Hans Rosling, Herbert Marcuse, housing crisis, income inequality, informal economy, Jane Jacobs, Jaron Lanier, Jeff Bezos, job automation, job polarisation, job satisfaction, Joseph Schumpeter, land reform, liberal capitalism, life extension, low skilled workers, Lyft, Mark Zuckerberg, market fundamentalism, Martin Wolf, mass immigration, megacity, Nate Silver, new economy, New Urbanism, Occupy movement, Parag Khanna, Peter Thiel, Plutocrats, plutocrats, post-industrial society, post-work, postindustrial economy, postnationalism / post nation state, precariat, profit motive, RAND corporation, Ray Kurzweil, rent control, Richard Florida, road to serfdom, Robert Gordon, Sam Altman, San Francisco homelessness, Satyajit Das, sharing economy, Silicon Valley, smart cities, Steve Jobs, Stewart Brand, superstar cities, The Death and Life of Great American Cities, The future is already here, The Future of Employment, The Rise and Fall of American Growth, Thomas L Friedman, too big to fail, trade route, Travis Kalanick, Uber and Lyft, uber lyft, universal basic income, unpaid internship, upwardly mobile, We are the 99%, Wolfgang Streeck, women in the workforce, working-age population, Y Combinator

It also holds appeal for the rentier class—which Piketty calls the “enemy of democracy”—as they would be assured of steady profits by collecting rents while the middle class loses independence.39 The younger generations, increasingly destined to be without property of their own, are even losing ownership of their personal data. They hand over large amounts of personal information, often unknowingly, to big tech firms in exchange for free services. Rather than the much-ballyhooed “sharing economy,” we are seeing an economy based on mining personal data for the benefit of a few companies. In this way, the middle class will become digital serfs in what Gaspard Koenig calls “digital feudalism.”40 CHAPTER 12 Culture and Capitalism Close ties and common goals shared between a powerful, wealthy class and a priestly or intellectual class have shaped many cultures throughout history, including the feudal era.1 Today a symbiosis between the economic oligarchy and the clerisy poses the biggest threat to the future of the middle class, as it serves to promote values and advance policies harmful to their well-being.

The instability in employment is widely seen as one reason for the country’s ultra-low birth rate.15 Many of today’s “precariat” work in the contingent “gig” economy, associated with firms such as Uber and Lyft. These companies and their progressive allies, including David Plouffe (who managed Barack Obama’s presidential campaign in 2008), like to speak of a “sharing” economy that is “democratizing capitalism” by returning control of the working day to the individual. They point to opportunities that the gig economy provides for people to make extra money using their own cars or homes. The corporate image of companies like Uber and Lyft features moonlighting drivers saving up cash for a family vacation or a fancy date while providing a convenient service for customers—the ultimate win-win.16 Yet for most gig workers there’s not very much that is democratic or satisfying in it.

Gig workers lack many basic protections that full-time workers might have, such as enforcement of civil rights laws. Workers without representation, or even set hours, do not have the tools needed to protect their own position; they are essentially fungible, like day laborers anywhere. Robert Reich, former U.S. secretary of labor, has gone so far as to label the “sharing” economy a “share-the-scraps” economy.18 Rather than providing an “add on” to a middle-class life, gig work for many has turned out to be something closer to serfdom. Cultural Erosion in the Working Class The downward economic trajectory of the working class has been amplified by cultural decline. The traditional bulwarks of communities—religious institutions, extended family, neighborhood and social groups, trade unions—have weakened generally, but the consequences are most damaging for those with limited economic resources.19 Social decay among the working class echoes what occurred in the first decades of the industrial revolution, when family and community structures and bonds of religion buckled and often broke.


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This Is Not Normal: The Collapse of Liberal Britain by William Davies

Airbnb, basic income, Bernie Sanders, Big bang: deregulation of the City of London, Boris Johnson, central bank independence, centre right, Chelsea Manning, coronavirus, corporate governance, Covid-19, COVID-19, credit crunch, deindustrialization, disinformation, Dominic Cummings, Donald Trump, double entry bookkeeping, Edward Snowden, family office, Filter Bubble, Francis Fukuyama: the end of history, ghettoisation, gig economy, global pandemic, global village, illegal immigration, Internet of things, late capitalism, liberal capitalism, loadsamoney, London Interbank Offered Rate, mass immigration, moral hazard, Neil Kinnock, Northern Rock, old-boy network, postnationalism / post nation state, precariat, prediction markets, quantitative easing, recommendation engine, Robert Mercer, Ronald Reagan, sentiment analysis, sharing economy, Silicon Valley, Slavoj Žižek, statistical model, Steve Bannon, Steven Pinker, surveillance capitalism, technoutopianism, The Chicago School, Thorstein Veblen, transaction costs, universal basic income, web of trust, WikiLeaks, Yochai Benkler

There is one emerging economic model that ties all of these strands together, satisfying regressive nineteenth-century liberals, techno-utopian libertarians, communitarian conservatives, corporate elites and policy pragmatists equally. This is the cluster of platforms and services known as the ‘sharing economy’. These seek to push a rentier mentality into more and more corners of society, making the ownership of assets (homes, bedrooms, cars, capital equipment, free time, and so on) the condition of an income. The opportunities for the precariat to be administered and employed via digital platforms have only just begun to be explored, but have huge potential.

The question to be taken more seriously, now that numbers are being constantly generated behind our backs and beyond our knowledge, is where the crisis of statistics leaves representative democracy. On the one hand, it is worth recognising the capacity of long-standing political institutions to fight back. Just as ‘sharing economy’ platforms such as Uber and Airbnb have recently been thwarted by legal rulings (Uber being compelled to recognise drivers as employees, Airbnb being banned altogether by some municipal authorities), privacy and human rights law represents a potential obstacle to the extension of data analytics.

The state’s job was to keep interest rates low on the assumption that people wanted to own assets, and otherwise to maintain a ‘level playing field’ so they could reap the rewards of all that hard work. Clearly most people cannot be conceived of as entrepreneurs in a neoliberal society – though the ‘sharing economy’ is now belatedly pressing that Thatcherite dream more deeply into the fabric of society – but they are assumed to be exerting themselves in order to become something better: richer, happier, healthier and so on. They are optimisers, just as economists assume in their models. May has replaced ‘hard-working families’ with ‘ordinary people’, which includes the ‘working class’.


pages: 497 words: 144,283

Connectography: Mapping the Future of Global Civilization by Parag Khanna

"Robert Solow", 1919 Motor Transport Corps convoy, 2013 Report for America's Infrastructure - American Society of Civil Engineers - 19 March 2013, 9 dash line, additive manufacturing, Admiral Zheng, affirmative action, agricultural Revolution, Airbnb, Albert Einstein, amateurs talk tactics, professionals talk logistics, Amazon Mechanical Turk, Asian financial crisis, asset allocation, autonomous vehicles, banking crisis, Basel III, Berlin Wall, bitcoin, Black Swan, blockchain, borderless world, Boycotts of Israel, Branko Milanovic, BRICs, British Empire, business intelligence, call centre, capital controls, charter city, clean water, cloud computing, collateralized debt obligation, commoditize, complexity theory, continuation of politics by other means, corporate governance, corporate social responsibility, credit crunch, crony capitalism, crowdsourcing, cryptocurrency, cuban missile crisis, data is the new oil, David Ricardo: comparative advantage, deglobalization, deindustrialization, dematerialisation, Deng Xiaoping, Detroit bankruptcy, digital map, disruptive innovation, diversification, Doha Development Round, edge city, Edward Snowden, Elon Musk, energy security, Ethereum, ethereum blockchain, European colonialism, eurozone crisis, failed state, Fall of the Berlin Wall, family office, Ferguson, Missouri, financial innovation, financial repression, fixed income, forward guidance, global supply chain, global value chain, global village, Google Earth, Hernando de Soto, high net worth, Hyperloop, ice-free Arctic, if you build it, they will come, illegal immigration, income inequality, income per capita, industrial cluster, industrial robot, informal economy, Infrastructure as a Service, interest rate swap, Intergovernmental Panel on Climate Change (IPCC), Internet of things, Isaac Newton, Jane Jacobs, Jaron Lanier, John von Neumann, Julian Assange, Just-in-time delivery, Kevin Kelly, Khyber Pass, Kibera, Kickstarter, LNG terminal, low cost airline, low cost carrier, low earth orbit, manufacturing employment, mass affluent, mass immigration, megacity, Mercator projection, Metcalfe’s law, microcredit, mittelstand, Monroe Doctrine, mutually assured destruction, New Economic Geography, new economy, New Urbanism, off grid, offshore financial centre, oil rush, oil shale / tar sands, oil shock, openstreetmap, out of africa, Panamax, Parag Khanna, Peace of Westphalia, peak oil, Pearl River Delta, Peter Thiel, Philip Mirowski, Plutocrats, plutocrats, post-oil, post-Panamax, private military company, purchasing power parity, QWERTY keyboard, race to the bottom, Rana Plaza, rent-seeking, reserve currency, Robert Gordon, Robert Shiller, Robert Shiller, Ronald Coase, Scramble for Africa, Second Machine Age, sharing economy, Shenzhen special economic zone , Shenzhen was a fishing village, Silicon Valley, Silicon Valley startup, six sigma, Skype, smart cities, Smart Cities: Big Data, Civic Hackers, and the Quest for a New Utopia, South China Sea, South Sea Bubble, sovereign wealth fund, special economic zone, spice trade, Stuxnet, supply-chain management, sustainable-tourism, TaskRabbit, telepresence, the built environment, The inhabitant of London could order by telephone, sipping his morning tea in bed, the various products of the whole earth, Tim Cook: Apple, trade route, Tragedy of the Commons, transaction costs, UNCLOS, uranium enrichment, urban planning, urban sprawl, WikiLeaks, Yochai Benkler, young professional, zero day

In the aftermath of the financial crisis, Germany introduced a Kurzarbeit scheme to keep workers in their jobs part-time while using their remaining time to up-skill in programs jointly funded by industry, unions, and government. Is the sharing economy another path to economic salvation? Platforms that enable the rental of assets owned by others such as automobiles or housing have created economic activity that is expected to reach over $300 billion by 2020. Uber and Airbnb enjoy skyrocketing valuations because they provide the marketplace for billions of connected individuals to transact among themselves. Sharing economy is in fact a misnomer: It is rather the full flourishing of self-regulated peer-to-peer capitalism, one in which people get paid for work in micro-increments, but as they do, connectivity becomes the foundation of whatever stability they have.

That same year, Huawei sued fellow Shenzhen-based ZTE in a German court for the same reason! PRINTING, SHARING—AND TRADING The biggest threat to current patterns of global trade comes from the combination of 3-D printing (which allows more products to be manufactured locally at “home”) and the sharing economy (by which fewer goods are purchased but existing goods are consumed as services). Local prototyping and mass production together could bring about a severe long-term contraction in global shipping, inventories, and warehousing. If DHL’s largest clients—the U.S. military and hardware companies such as HP—suddenly printed all their components on-site at bases or client facilities, the courier business could go bust.

A new stage has even entered the supply circle before recycling—up-cycling—by which materials are repurposed in higher-value ways: Plastic becomes furniture, tires become boots, shipping containers become two-bedroom homes for dense cities or refugee camps. A supply chain world could be more sustainable if it follows a principle that animates the sharing economy: Unused value is wasted value. COMING HOME—BUT ONLY TO SELL AT HOME A half century ago, GE manufactured consumer goods at Appliance Park in Louisville, Kentucky, an SEZ-like town with its own power plant, fire department, and zip code. Rising costs, labor disputes, and outsourcing pushed down its employment from a peak of twenty thousand workers in the 1970s to only eighteen hundred by 2008.


pages: 477 words: 75,408

The Economic Singularity: Artificial Intelligence and the Death of Capitalism by Calum Chace

3D printing, additive manufacturing, agricultural Revolution, AI winter, Airbnb, artificial general intelligence, augmented reality, autonomous vehicles, banking crisis, basic income, Baxter: Rethink Robotics, Berlin Wall, Bernie Sanders, bitcoin, blockchain, call centre, Chris Urmson, congestion charging, credit crunch, David Ricardo: comparative advantage, Douglas Engelbart, Elon Musk, en.wikipedia.org, Erik Brynjolfsson, Flynn Effect, full employment, future of work, gender pay gap, gig economy, Google Glasses, Google X / Alphabet X, ImageNet competition, income inequality, industrial robot, Internet of things, invention of the telephone, invisible hand, James Watt: steam engine, Jaron Lanier, Jeff Bezos, job automation, John Markoff, John Maynard Keynes: technological unemployment, John von Neumann, Kevin Kelly, knowledge worker, lifelogging, lump of labour, Lyft, Marc Andreessen, Mark Zuckerberg, Martin Wolf, McJob, means of production, Milgram experiment, Narrative Science, natural language processing, new economy, Occupy movement, Oculus Rift, PageRank, pattern recognition, post scarcity, post-industrial society, post-work, precariat, prediction markets, QWERTY keyboard, railway mania, RAND corporation, Ray Kurzweil, RFID, Rodney Brooks, Sam Altman, Satoshi Nakamoto, Second Machine Age, self-driving car, sharing economy, Silicon Valley, Skype, software is eating the world, speech recognition, Stephen Hawking, Steve Jobs, TaskRabbit, technological singularity, The future is already here, The Future of Employment, Thomas Malthus, transaction costs, Tyler Cowen: Great Stagnation, Uber for X, uber lyft, universal basic income, Vernor Vinge, working-age population, Y Combinator, young professional

Parts of the economies of developed countries are being fragmented, or Balkanised, with more and more people working freelance, carrying out individual tasks which are allocated to them by platforms and apps like Uber and TaskRabbit. There are many words for this phenomenon: the gig economy, the networked economy, the sharing economy, the on-demand economy, the peer-to-peer economy, the platform economy, and the bottom-up economy. Is this a way to escape the automation of jobs by machine intelligence? To break jobs down into as many component tasks as possible, and preserve for humans those tasks which they can do better than machines?

Whether or not the new forms of freelancing opened up by Uber, Lyft, TaskRabbit, Handy and so on are precarious is a matter of debate, especially in their birthplace, San Francisco. Are the people hired out by these organisations “micro-entrepreneurs” or “instaserfs” - members of a new “precariat”, forced to compete against each other on price for low-end work with no benefits? Are they operating in a network economy or an exploitation economy? Is the sharing economy actually a selfish economy? Whichever side of this debate you come down on, the gig economy is a significant development: a survey by accounting firm PricewaterhouseCoopers found that as many as 7% of US adults were involved in it.[cclxv] But our concern here is not whether the gig economy is a fair one.

mt=2&i=361020299 [cclx] http://uk.businessinsider.com/high-salary-jobs-will-be-automated-2016-3 [cclxi] http://www.fiercefinanceit.com/story/will-regulatory-compliance-drive-artificial-intelligence-adoption/2016-01-05 [cclxii] http://www.liverpoolecho.co.uk/news/business/liverpool-fc-sponsor-standard-chartered-11104215 [cclxiii] http://www.cnbc.com/2015/12/30/artificial-intelligence-making-some-bosses-nervous-study.html [cclxiv] Assuming the work is happening on Earth. Wikipedia offers a more general but less euphonious definition: “Work is the product of the force applied and the displacement of the point where the force is applied in the direction of the force.” [cclxv] http://www.wsj.com/articles/can-the-sharing-economy-provide-good-jobs-1431288393 [cclxvi] https://www.edge.org/conversation/kevin_kelly-the-technium [cclxvii] https://www.singularityweblog.com/techemergence-surveys-experts-on-ai-risks/ [cclxviii] http://uk.businessinsider.com/social-skills-becoming-more-important-as-robots-enter-workforce-2015-12 [cclxix] http://www.history.com/topics/inventions/automated-teller-machines [cclxx] http://www.theatlantic.com/technology/archive/2015/03/a-brief-history-of-the-atm/388547/ [cclxxi] http://www.wsj.com/articles/SB10001424052748704463504575301051844937276 [cclxxii] http://kalw.org/post/robotic-seals-comfort-dementia-patients-raise-ethical-concerns#stream/0 [cclxxiii] http://viterbi.usc.edu/news/news/2013/a-virtual-therapist.htm [cclxxiv] http://observer.com/2014/08/study-people-are-more-likely-to-open-up-to-a-talking-computer-than-a-human-therapist/ [cclxxv] http://mindthehorizon.com/2015/09/21/avatar-virtual-reality-mental-health-tech/ [cclxxvi] http://www.handmadecake.co.uk/ [cclxxvii] http://www.bbc.co.uk/news/magazine-15551818 [cclxxviii] http://www.oxforddnb.com/view/article/19322 [cclxxix] http://www.ft.com/cms/s/2/c5cf07c4-bf8e-11e5-846f-79b0e3d20eaf.html#axzz3yLGlrr1J [cclxxx] http://www.bls.gov/cps/cpsaat11.htm [cclxxxi] https://en.wikipedia.org/wiki/No_Man%27s_Sky [cclxxxii] http://www.ft.com/cms/s/2/c5cf07c4-bf8e-11e5-846f-79b0e3d20eaf.html#axzz3yLGlrr1J [cclxxxiii] http://www.inc.com/john-brandon/22-inspiring-quotes-from-famous-entrepreneurs.html [cclxxxiv] http://www.uh.edu/engines/epi265.htm [cclxxxv] http://googleresearch.blogspot.co.uk/2015/06/inceptionism-going-deeper-into-neural.html [cclxxxvi] http://www.bbc.co.uk/news/technology-35977315 [cclxxxvii] http://fee.org/freeman/the-economic-fantasy-of-star-trek/ [cclxxxviii] https://www.wired.co.uk/news/archive/2012-11/16/iain-m-banks-the-hydrogen-sonata-review [cclxxxix] http://www.ft.com/cms/s/0/dfe218d6-9038-11e3-a776-00144feab7de.html#axzz3yUOe9Hkp [ccxc] http://www.brautigan.net/machines.html [ccxci] As noted in chapter 3.4, Anders Sandberg is James Martin Fellow at the Future of Humanity Institute at Oxford University.


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The Only Game in Town: Central Banks, Instability, and Avoiding the Next Collapse by Mohamed A. El-Erian

activist fund / activist shareholder / activist investor, Airbnb, balance sheet recession, bank run, barriers to entry, Bear Stearns, break the buck, Bretton Woods, British Empire, business cycle, capital controls, Capital in the Twenty-First Century by Thomas Piketty, Carmen Reinhart, carried interest, collapse of Lehman Brothers, corporate governance, currency peg, disruptive innovation, Erik Brynjolfsson, eurozone crisis, financial innovation, Financial Instability Hypothesis, financial intermediation, financial repression, fixed income, Flash crash, forward guidance, friendly fire, full employment, future of work, Hyman Minsky, If something cannot go on forever, it will stop - Herbert Stein's Law, income inequality, inflation targeting, Jeff Bezos, Kenneth Rogoff, Khan Academy, liquidity trap, Martin Wolf, megacity, Mexican peso crisis / tequila crisis, moral hazard, mortgage debt, Norman Mailer, oil shale / tar sands, price stability, principal–agent problem, quantitative easing, risk tolerance, risk-adjusted returns, risk/return, Second Machine Age, secular stagnation, sharing economy, sovereign wealth fund, The Great Moderation, The Wisdom of Crowds, too big to fail, University of East Anglia, yield curve, zero-sum game

Meanwhile, and perhaps more important, rapid technological innovations have enabled and empowered individuals like never before (something that we will return to later in the book). Today, so many more people in so many more places are enabled to connect and participate, and, soon, they will also be able to make a lot more things. It is the “sharing economy” in which so many more citizens can be productive entrepreneurs and collaborators, including by deploying existing (underutilized) assets. But it is a world that displaces existing workers and makes the political center weaker. More concerning, it is a world that makes cyberterrorism and nonstate terrorism more meaningful threats.3 Governments that look to the technological revolution to materially improve the welfare of both current and future generations while also countering its dark side need to understand the dual nature of these transformative innovations.

Banque de France, “Macroprudential Policies: Implementation and Interactions,” Financial Stability Review, April 2014. 6. Mohamed A. El-Erian, “3 Steps to Remove Financial System Risk,” Harvard Business School, August 15, 2007, http://hbswk.hbs.edu/item/5745.html. 7. Mohamed A. El-Erian, “Creative Self-Disruption,” Project Syndicate, April 7, 2015, https://www.project-syndicate.org/commentary/consumer-sharing-economy-adaptation-by-mohamed-a--el-erian-2015-04. 8. Steve Lohr, “Banking Start-ups Adopt New Tools for Lending,” New York Times, January 19, 2015, http://www.nytimes.com/2015/01/19/technology/banking-start-ups-adopt-new-tools-for-lending.html. 9. For full disclosure, I have been recently involved in one of these efforts—“Payoff”—as an investor and board member of a start-up seeking to improve the financial services offered to households and small businesses.

Richard Dobbs, James Manyika, and Jonathan Woetzel, No Ordinary Disruption: The Four Global Forces Breaking All the Trends (New York: PublicAffairs, 2015). 2. Mohamed A. El-Erian, “Creative Self-Disruption,” Project Syndicate, April 7, 2015, http://www.project-syndicate.org/commentary/consumer-sharing-economy-adaptation-by-mohamed-a--el-erian-2015-04. CHAPTER 29: WHAT HISTORY TELLS US 1. Richard Dobbs, James Manyika, and Jonathan Woetzel, No Ordinary Disruption: The Four Global Forces Breaking All the Trends (New York: PublicAffairs, 2015). 2. Daniel Kahneman, Thinking, Fast and Slow (New York: Farrar, Straus & Giroux, 2011). 3.


pages: 121 words: 36,908

Four Futures: Life After Capitalism by Peter Frase

Airbnb, basic income, bitcoin, business cycle, call centre, Capital in the Twenty-First Century by Thomas Piketty, carbon footprint, cryptocurrency, deindustrialization, Dogecoin, Edward Snowden, Erik Brynjolfsson, Ferguson, Missouri, fixed income, full employment, future of work, Herbert Marcuse, high net worth, income inequality, industrial robot, informal economy, Intergovernmental Panel on Climate Change (IPCC), iterative process, job automation, John Maynard Keynes: Economic Possibilities for our Grandchildren, Kim Stanley Robinson, litecoin, mass incarceration, means of production, Occupy movement, pattern recognition, peak oil, Plutocrats, plutocrats, post-work, postindustrial economy, price mechanism, private military company, Ray Kurzweil, Robert Gordon, Second Machine Age, self-driving car, sharing economy, Silicon Valley, smart meter, TaskRabbit, technoutopianism, The future is already here, The Future of Employment, Thomas Malthus, Tyler Cowen: Great Stagnation, universal basic income, Wall-E, Watson beat the top human players on Jeopardy!, We are the 99%, Wolfgang Streeck

In a society like ours, characterized by extreme concentrations of wealth and income, the market allocates social power in proportion to money—thus producing a society of “one dollar, one vote.” Consider the example of companies like the car-sharing service Uber, the errand-outsourcing website TaskRabbit, and the short-term rental market AirBnB. All represent themselves as part of the “sharing economy,” in which individuals make small exchanges of goods and services under conditions of fundamental equality. The idea is that I might rent out my apartment when I’m on vacation, and hire you to drive me somewhere when you have the spare time, and that we all therefore end up with a bit more convenience and a bit more money.

Ultimately, this means overcoming the capitalist system of resource distribution and approaching a world in which control of wealth is equalized—that is, where “the distribution of the means of payment” (to use Gorz’s phrase cited in Chapter 2) is essentially equal. But short of that, there are ways to turn some of the predatory “sharing economy” businesses into something a bit more egalitarian. Economics writer Mike Konczal, for instance, has suggested a plan to “socialize Uber.”26 He notes that since the company’s workers already own most of the capital—their cars—it would be relatively easy for a worker cooperative to set up an online platform that works like the Uber app but is controlled by the workers themselves rather than a handful of Silicon Valley capitalists.


pages: 127 words: 38,674

Simple Matters: Living With Less and Ending Up With More by Erin Boyle

big-box store, Indoor air pollution, lateral thinking, Mason jar, Pepto Bismol, place-making, Ralph Waldo Emerson, sharing economy

Other websites like Call2Recyle (call2recycle.org) and Earth911 (earth911.com) have easy-to-use features that allow you to enter the particulars about your electronic device and help you find the best way to get rid of it. As stated above, many manufacturers, like Apple, also accept used and broken items for recycling. The books that we keep in our house are generally true favorites. Everything else gets borrowed from the library or read and then donated. Our neighborhood happens to have an informal book sharing economy, where people leave books on their stoops for others to scoop up. What Do I Need to Keep? A Practical List The list of paper documents that the average person needs to keep at home feels enormous at first pass, but it is much simpler after closer inspection. In an age when most things have gone digital, there’s less need to lug around a paper trail.

Small for my age, I was almost always able to fit into the clothes that my closest friends were outgrowing. Their mothers would cart garbage bags of used and outgrown clothes to our house, and I would rifle through the piles, pulling out what I liked best. Somehow it didn’t dawn on me to be embarrassed that I was wearing my classmates’ castoffs. This kind of sharing economy is definitely something to be encouraged. But it comes with a caveat: I’ve found that when things are given to us as gifts, it can be even more difficult to say no them. But a home overflowing with other people’s discarded items is still a home overflowing. Give yourself permission to say no.


pages: 385 words: 118,314

Cities Are Good for You: The Genius of the Metropolis by Leo Hollis

Airbnb, banking crisis, Berlin Wall, Boris Johnson, Broken windows theory, Buckminster Fuller, call centre, car-free, carbon footprint, cellular automata, clean water, cloud computing, complexity theory, congestion charging, creative destruction, credit crunch, Credit Default Swap, crowdsourcing, Deng Xiaoping, digital map, East Village, Edward Glaeser, Enrique Peñalosa, Firefox, Frank Gehry, Geoffrey West, Santa Fe Institute, Gini coefficient, Google Earth, Guggenheim Bilbao, haute couture, Hernando de Soto, housing crisis, illegal immigration, income inequality, informal economy, Internet of things, invisible hand, Jane Jacobs, Kickstarter, knowledge economy, knowledge worker, Long Term Capital Management, M-Pesa, Mahatma Gandhi, Mark Zuckerberg, Masdar, mass immigration, megacity, negative equity, new economy, New Urbanism, Occupy movement, openstreetmap, packet switching, Panopticon Jeremy Bentham, place-making, Ray Oldenburg, Richard Florida, sharing economy, Silicon Valley, Skype, smart cities, smart grid, spice trade, Steve Jobs, technoutopianism, the built environment, The Chicago School, The Death and Life of Great American Cities, The Great Good Place, the High Line, The Spirit Level, the strength of weak ties, The Wisdom of Crowds, Thomas Malthus, trade route, traveling salesman, urban planning, urban renewal, urban sprawl, walkable city, white flight, Y2K, Yom Kippur War

The fact that we no longer trust politicians and the police means not that we have lost trust but that we have placed our trust in other relationships and forms. Rather than signalling the end of trust, instead what we are seeing is its redistribution into other systems such as the proliferation of open source and sharing communities – what Burnham calls a ‘sharing economy’. As a result, as hierarchical trust has declined, a belief in the commons has become more important, as we ‘discover new values, and new ways of creating and extending trust, outside of existing damaged systems’.37 The Sculpt Me Point exhibit by Marti Guixe, Amsterdam, 2008 But, I asked, how does this reflect on the way we build cities?

Yet more importantly than this, Burnham reminded me that trust was not a building, it was not bricks and stones; instead it was the sharing of the process of building that created and nurtured trust. That we no longer trust governments, corporations and police does not mean that we have lost the art of trusting. We are already more trusting than we imagine in a new sharing economy that encompasses car clubs, Airbnb; World Book Night; peer-to-peer platforms; Wikipedia; Instagram; open source software such as the Linux operating system and the Firefox browser, as well as the Creative Commons code of practice. However, we need to be aware of how the uses of urban spaces can impact on this.

., ‘William Bratton and the NYPD’, Yale School of Management, Yale Case 07-015, 12 February 2008, p. 14. 15. www.economist.com/node/12630201 16. Putnam, R., Bowling Alone: The Collapse and Revival of American Community, Simon & Schuster, 2001, p. 115. 17. Ibid., p. 19. 18. Minton, A., Ground Control: Fear and Happiness in the 21st-Century City, Penguin, 2009, p. 21. 19. Griffiths, R., The Great Sharing Economy, Cooperatives UK, Penguin, 2012, p. 1. 20. Ibid., pp. 4–11. 21. www.shareable.net/blog/policies-for-a-shareable-city 22. www.shareable.net/blog/policies-for-a-shareable-city-11-urban-agriculture 23. www.theuglyindian.com Chapter 6: Trust in the city 1. www.tampabay.com/news/humaninterest/article1221799 2.


pages: 317 words: 87,566

The Happiness Industry: How the Government and Big Business Sold Us Well-Being by William Davies

1960s counterculture, Airbnb, business intelligence, corporate governance, dematerialisation, experimental subject, Exxon Valdez, Frederick Winslow Taylor, Gini coefficient, income inequality, intangible asset, invisible hand, joint-stock company, lifelogging, market bubble, mental accounting, nudge unit, Panopticon Jeremy Bentham, Philip Mirowski, profit maximization, randomized controlled trial, Richard Thaler, road to serfdom, Ronald Coase, Ronald Reagan, science of happiness, selective serotonin reuptake inhibitor (SSRI), sentiment analysis, sharing economy, Slavoj Žižek, smart cities, Smart Cities: Big Data, Civic Hackers, and the Quest for a New Utopia, social intelligence, Social Responsibility of Business Is to Increase Its Profits, Steve Jobs, The Chicago School, The Spirit Level, theory of mind, urban planning, Vilfredo Pareto, you are the product

Managers hope that their employees will also act as ‘brand ambassadors’ in their everyday social lives and seek advice on how to influence them to do this. Meanwhile, neuromarketers have begun studying how successfully images and advertisements trigger common neural responses in groups, rather than in isolated individuals. This, it seems, is a far better indication of how larger populations will respond.7 The rise of the ‘sharing economy’, exemplified by Airbnb and Uber, and studies such as the pay-it-forward experiment, offer a simple lesson to big business. People will take more pleasure in buying things if the experience can be blended with something that feels like friendship and gift exchange. The role of money must be airbrushed out of the picture wherever possible.

See Chicago School of economics divorce of from psychology, 61, 69 evolution of discipline of, 54 exceptional status attributed to, 26 function of, according to Coase, 156 happiness economics, 5, 74, 229, 252 as mathematical problem, 51 neo-classical economists/economics, 113, 123, 181 as phenomenon of the mind, 59 pop-economics, 152 reunion of with psychology, 64, 182 subjective sensation and, 55 as winner take all, 160 economies classical political economy, 49–50, 57 knowledge-based economy, 136 political economy, 50, 56 sharing economy, 188 social economy, 190 Edgeworth, Francis, 60, 84 Eisenhower, Dwight David, 255 Ello, 213 emotion definition, 75 as market research industry’s preferred version of happiness/pleasure, 74 emotional contagion, 225 empiricism, 27, 30, 152, 269 employee engagement, 106–9, 113, 126 employee fitness-tracking programmes, 240 employee-owned businesses, advantages of, 272 end of theory, 237 Enlightenment, 7, 19, 23, 27, 47, 85, 251 ennui, costs of, 108 enthusiasm, 251 entropy, law of, 115 ergonomics, 50, 116, 137 Essay on Government (Priestley), 13 European Commission, 255 European Management Forum, 1 evidence-based policy-making, 17 existentialism, 38 experience medicine, 126 experienced utility, measurement of, 64 experimental psychology, 81 Exxon Valdez oil spill, 62–3 eye tracking, 72, 97 eyes, focus on by Wundt, 79–81 Facebook, 10, 74, 100, 189, 204, 206, 207, 208, 209, 210, 213, 220, 221, 224, 225, 238, 239, 257, 269 face-reading software, 222 facial coding, 76, 97 facial scanning/face-scanning technology, 72, 222, 276 farm experiences, benefits of, 246 fatigue, businesses’ concern about, 50, 116, 120 Fatigue Laboratory (Harvard Business School), 120, 122 FearFighter, 222 Fechner, Gustav as coining pleasure principle, 29 distrust of language, 32 dualism of, 28, 30, 265 on energy, 29, 115 as influenced by Hegel, 30 as monist, 33 as new age thinker, 28 parallels in English psychology to, 48 psychophysical methods of, 60 psychophysical parallelism, 259 as representing relationships between mind and world as numerical ratio, 35 on solving mind–body problem using mathematics, 27, 28 on theory of psychology, 29 weight-lifting experiments of, 30–1, 38, 49, 50, 59, 78 Federal Drug, Food and Cosmetic Act (US) (1938), 170 feedback loops/feedback mechanisms, 95, 103, 230, 276 feelings, adjustment of, 31–2 Ferriss, Tim, 112 fit notes, 112 Fitbit, 240 fitness-tracking ticket machine, 240 fMRI, 32, 231, 237, 241, 261, 262 focus groups, 102, 125 Foucault, Michel, 280n22 FP7 research (European Commission), 255 Freakonomics (Levitt and Dubner), 152 free markets, 19, 49, 57, 69, 140, 154, 181, 185, 274 Free: The Future of a Radical Price (Anderson), 185 Freud, Sigmund, 29, 164, 169, 198, 200, 203 Friedman, Milton, 149, 150, 154, 156–7, 159, 160, 161 friendship, 186, 187, 188, 191, 197, 201, 205, 208, 211, 212, 222, 225, 243, 258 friendvertising, 189 Gale, Harlow, 83, 85 Gallup (poll), 9, 106, 146, 219, 272 Gallup, George, 101 gaming, 205–6 The Genealogy of Morals (Nietzsche), 84 General Adaptation Syndrome, 129 General Medical Council (Britain), 110 General Motors (GM), 215–16 General Phonograph Manufacturing Company, 200 General Sentiment, 223 generosity, 185, 196 Georgetown University, 142 German Automobile Manufacturers’ Association, 217 Germany, influx of Americans taking university degrees and research training in, 83 Gershon, Michael, 231 Gilbert, Jeremy, 213 Gladwell, Malcolm, 72 global economic management, 3 Google, 37, 193 Graham, Richard, 205, 206 gratitude, 33, 131, 186, 187, 194, 196, 210, 276 group identity, 123 group psychology, 124, 125 Growing Well, 246, 247, 248, 250 Guze, Samuel, 169 Hague, William, 139–40, 141, 142, 144 Haidt, Jonathan, 73 Hall, G.

See positive psychology promise of practical utility of, 91 reunion of with economics, 64, 182 social psychology, 125, 189, 266 theory of, as balancing act, 67 The Psychology of Advertising (Scott), 86 psychopharmacology, 162 psychophysical parallelism, 259 psychophysics, 29, 30, 31 psychosomatic interventions/management/programmes/theories, 122, 124, 128, 135 psychotherapy, 124, 127 pulse rate, 25, 26, 27, 37, 79 punishment, 16, 19, 22, 23, 179, 183, 239 PwC, 119 Qualia, 36 quality of life measures, 126 quantitative sociological research, 98 quantified community, 233, 234 quantified self apps, 221 quantified self movement, 221, 228 quants, 237 questionnaires, 165, 175, 176 random acts of managerial generosity, 184 randomized sampling methods, 97 Rapley, Mark, 250 Rayner, Rosalie, 93 Reagan, Ronald, 144, 149, 159 Realeyes, 72 real-time health data, 137 real-time social trends, 224 recessions, 67–8, 252 Recognizing the Depressed Patient (Ayd), 164 reductionism, 27, 264 research ethics, 91–2, 225 resilience training, 35, 273 Resor, Stanley, 93–4, 95, 96 retail culture, 58 Ricard, Matthieu, 2, 4 Robbins, Lionel, 154 Robins, Eli, 169 Rockefeller Foundation, 97, 99, 121 Rogers, Carl, 146 Roosevelt, Franklin, 101, 146 Rowntree, Joseph, 99 RunKeeper, 240 Ryanair, 185 Salter, Tim, 110 sampling methods, 97–8 Santa Monica, California, 4 São Paolo, Brazil, Clean City Law, 275 scales, 146, 165, 175, 176 scanning technology, 75–6 scent logos, 73 Schrader, Harald, 44 scientific advertising, 215 scientific management, 118–19, 120, 136–7, 235 scientific optimism, 242 scientific politics, 77, 88, 145 scientists, as source of authority, 147–8 Scott, Walter Dill, 83, 85 screen time, 207 second brain, 231 secular religions, 260 selective serotonin reuptake inhibitors (SSRIs), 163, 166 self-anchored striving, 147, 166, 175 self-anchoring striving scale, 146 self-forming groups, 200 self-help gurus, 210 self-help literature, 247 self-improvement, 212 self-monitoring, 258 self-optimization, 213 self-reflection, 211 self-surveillance, 221, 230 Seligman, Martin, 165, 277n5 Selye, Hans, 128–31, 133, 264 The Senses and the Intellect (Bain), 48 sentiment analysis/tracking, 6, 221, 223, 261 sexual orientation disturbance, 172 sharing economy, 188 shopping, 58, 74, 93, 188, 239 sick notes, 112 Sing Sing prison, 201 Smail, David, 250 smart cities, 220, 224, 239 smart homes, 239 smart watches, 37 smartphones, 10, 207, 222, 230 smiles/smiling, 36–7, 38 Smith, Adam, 49, 50, 52, 55 social, 1, 36, 184, 186, 187, 188, 190, 191, 203, 204, 205, 207, 208, 211–12 social analytics, 188, 191, 193, 196 social capitalism, 212 social contagion, science of, 257 social economy, 190 social epidemiology, 9, 250, 254 social media, 188, 189, 199, 203, 207, 208–9, 213, 224, 261, 274 social media addiction, 206, 207 social network analysis, 204, 208 social networks, 193, 194, 195, 196, 213, 225 social neuroscience, 193, 195, 213, 214 social obligation, 184 social optimization, 181–214 social prescribing, 194, 212, 246, 271 social psychology, 125, 189, 266 social research, 98, 202, 226 social science, as converging with physiology into new discipline, 195 sociology, 254 sociometric analysis, 199 sociometric maps, 202 Sociometric Solutions, 239 sociometry, 199, 201, 202, 203 Spengler, Oswald, 121 Spitzer, Robert, 171–3, 176, 271 sponsored conversations, 189 sport, as virtue for political leaders, 140 sporting metaphors, 141 SSRIs (selective serotonin reuptake inhibitors), 163, 166 St Louis school of psychiatry, 169, 170, 171, 173, 174, 176, 179 Stanton, Frank, 99 Stigler, George, 150, 152, 153, 156–7, 158, 160 stress, 37, 129, 130, 131, 132, 133, 175, 250, 262, 272, 273 Stuckler, David, 252 subjective affect, science of, 6, 7 subjective feelings, relationship with external circumstances, 254 subjective sensation, 30, 45, 55, 61 Suicide (Durkheim), 227 Sully, James, 59, 84 surveillance, 231, 237, 238, 240, 242.


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

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?

Most have improved a bit in recent years—almost by default, thanks to social media—but even now a company’s online presence is mostly limited to a Facebook page half-heartedly managed by the marketing department. How can companies rise above prosaic participation in the Web 2.0 world and create a truly social business? How can they cooperate with the sharing economy or with peer-to-peer startups to boost innovation internally? How can they build a vibrant community around their products that will enable them to use P2P forums to drive down support costs? Zappos spends a great deal of time and money managing its community, and is an excellent example of a company that has launched a truly social business.

Currently, one hundred twenty business leaders and thirty-four Fortune 500 companies are council members of Crowd Companies and, according to Owyang, over eighty global brands have experimented with these techniques. 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: 247 words: 81,135

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, David Heinemeier Hansson, disruptive innovation, 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, lifelogging, market design, Metcalfe's law, Minecraft, minimum viable product, Network effects, new economy, peer-to-peer, post scarcity, prediction markets, pre–internet, profit motive, race to the bottom, random walk, Ray Kurzweil, recommendation engine, remote working, RFID, Rubik’s Cube, 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, survivorship bias, too big to fail, US Airways Flight 1549, web application, zero-sum game

We can access these items with very little friction. This reduced friction creates opportunity for temporary connections with goods and services, which, in a physical world, would be too costly and cumbersome. This means where we used to have to buy items, we can now instead pay to use them when we need them. The sharing economy In a sharing economy we can enjoy the benefit of usage and status on a temporary basis. It’s an obvious solution when you consider that we only use much of what we own for a fraction of the time that it’s available to us, excluding such things as furniture and the fridge. Quite often, we now share or purchase collectively whatever we need, paying only for the time we use it.

The interest graph in action The anti-demographic recommendation engine Chapter 7: The truth about pricing: technology and omnipresent deflation Technology deflation Real-world technology deflation The free super computer The crux is human It’s getting quicker Technology curve jumping Technology stacking Omnipresent deflation Consumer price index trickery Connections and the impact on prices Economic border hopping The new minimum wage Notes Chapter 8: A zero-barrier world: how access to knowledge is breaking down barriers So what’s changed? Why do we even own stuff? The sharing economy Personal access Physical access Ownership is a mental state Commercial access Access to everything A personal global factory The clothing company The two-way street The laptop corporation Chapter 9: The infinite store: rebooting retail The physical and virtual challenges Retail was easy The retail revolution What retail forgot The discount death spiral Price and range equalise Same brand, different plan The questions that matter Selling online If you make, you retail (big and small) Border hopping and digital reinvention Experience > item Clues in coffee culture Chapter 10: Bigger than the internet: 3D printing A virtual physical reality The history of technology repeats The home factory Piracy on steroids Dad vs daughter Notes Chapter 11: Screen play: post–mass media Television is no more Device convergence Digital demarcation Mass-media platform fragmentation The legacy media challenge Blogs vs The New York Times Who do you trust?


pages: 161 words: 44,488

The Business Blockchain: Promise, Practice, and Application of the Next Internet Technology by William Mougayar

Airbnb, airport security, Albert Einstein, altcoin, Amazon Web Services, bitcoin, Black Swan, blockchain, business process, centralized clearinghouse, Clayton Christensen, cloud computing, cryptocurrency, disintermediation, distributed ledger, Edward Snowden, en.wikipedia.org, Ethereum, ethereum blockchain, fault tolerance, fiat currency, fixed income, global value chain, Innovator's Dilemma, Internet of things, Kevin Kelly, Kickstarter, market clearing, Network effects, new economy, peer-to-peer, peer-to-peer lending, prediction markets, pull request, QR code, ride hailing / ride sharing, Satoshi Nakamoto, sharing economy, smart contracts, social web, software as a service, too big to fail, Turing complete, web application, Yochai Benkler

Applications ranging from Apple's phones to WhatsApp have started building in forms of encryption that are so strong that even the company writing the software and managing the servers cannot break it. For those who prefer corporations to government as their boogeyman of choice, the advent of “sharing economy 1.0” is increasingly showing signs of failure to fulfill what many had originally seen to be its promise. Rather than simply cutting out entrenched and oligopolistic intermediaries, giants like Uber are simply replacing the middleman with themselves, and not always doing a better job of it. Blockchains, and the umbrella of related technologies that I have collectively come to call “crypto 2.0,” provide an attractive fix.

The blockchain moves the power of transactions closer to the individuals, and it empowers any user on earth to align themselves with a decentralized application or organization, and start generating or moving their own nucleus of crypto value. Another benefit of this phenomenon is to put the sharing economy on steroids, as it melds (crypto) capital and labor with mobile, location-agnostic marketplace environments. We are in the early stages of understanding the movement, distribution and creation of “value” outside of the traditional norms of currency, commodity and property as the main vehicles for value transfer and appreciation.


pages: 149 words: 44,375

Slow by Brooke McAlary

Airbnb, big-box store, clean water, Lyft, off grid, Parkinson's law, Rana Plaza, sharing economy, TaskRabbit, uber lyft

Keep in mind that these suggestions won’t always be applicable to your situation, but embracing them where you can means the space you work hard to free up in your decluttering efforts will stay free. Share things The sharing economy is growing at a rapid pace, and the idea of sharing resources is starting to take hold in the mainstream. In her 2012 TED talk, Rachel Botsman spoke of the sharing economy as a way to minimise buying things that have a limited use. Talking of handheld drills, which, on average, are used for a total of 12–13 minutes throughout their entire life, she exclaimed, ‘You need the hole, not the drill!’


pages: 346 words: 89,180

Capitalism Without Capital: The Rise of the Intangible Economy by Jonathan Haskel, Stian Westlake

"Robert Solow", 23andMe, activist fund / activist shareholder / activist investor, Airbnb, Albert Einstein, Andrei Shleifer, bank run, banking crisis, Bernie Sanders, business climate, business process, buy and hold, Capital in the Twenty-First Century by Thomas Piketty, cloud computing, cognitive bias, computer age, corporate governance, corporate raider, correlation does not imply causation, creative destruction, dark matter, Diane Coyle, Donald Trump, Douglas Engelbart, Douglas Engelbart, Edward Glaeser, Elon Musk, endogenous growth, Erik Brynjolfsson, everywhere but in the productivity statistics, Fellow of the Royal Society, financial innovation, full employment, fundamental attribution error, future of work, Gini coefficient, Hernando de Soto, hiring and firing, income inequality, index card, indoor plumbing, intangible asset, Internet of things, Jane Jacobs, Jaron Lanier, job automation, Kenneth Arrow, Kickstarter, knowledge economy, knowledge worker, laissez-faire capitalism, liquidity trap, low skilled workers, Marc Andreessen, Mother of all demos, Network effects, new economy, open economy, patent troll, paypal mafia, Peter Thiel, pets.com, place-making, post-industrial society, Productivity paradox, quantitative hedge fund, rent-seeking, revision control, Richard Florida, ride hailing / ride sharing, Robert Gordon, Ronald Coase, Sand Hill Road, Second Machine Age, secular stagnation, self-driving car, shareholder value, sharing economy, Silicon Valley, six sigma, Skype, software patent, sovereign wealth fund, spinning jenny, Steve Jobs, sunk-cost fallacy, survivorship bias, The Rise and Fall of American Growth, The Wealth of Nations by Adam Smith, Tim Cook: Apple, total factor productivity, Tyler Cowen: Great Stagnation, urban planning, Vanguard fund, walkable city, X Prize, zero-sum game

But the process of “software eating the world,” in venture capitalist Marc Andreessen’s words, is not just about software: it involves other intangibles in abundance. Consider Apple’s designs and its unrivaled supply chain, which has helped it to bring elegant products to market quickly and in sufficient numbers to meet customer demand, or the networks of drivers and hosts that sharing-economy giants like Uber and AirBnB have developed, or Tesla’s manufacturing know-how. Computers and the Internet are important drivers of this change in investment, but the change is long running and predates not only the World Wide Web but even the Internet and the PC. The rise of intangible investment becomes clear if we look at data for the economy as a whole.

And it’s also possible to think of examples of companies that have invested to create valuable organizational assets outside their own firms. The remarkable Apple supply chain that Tim Cook was responsible for developing is clearly a long-term source of value for Apple, allowing it to bring products to market extraordinarily quickly. A valuable asset of so-called sharing-economy businesses like Uber or AirBnB is typically their network of committed suppliers—Uber’s drivers or AirBnB’s hosts. This too is an asset of lasting value that both companies have invested heavily to develop (and which they invest to protect, for example, against legal actions requiring them to treat their suppliers as employees).

To put it another way, computers are physical devices that become useful and valuable when you fill them with useful, intangible information. Because computers and networks of computers deal in information, they also help make other intangible investment easier or more effective. Consider the network of big sharing-economy companies like Uber or AirBnB. There is nothing about their business models that absolutely requires computers and the Internet. Before everyone had a smartphone, there were networked cab companies, some of which, like London’s ComCab or Radio Taxis, used independent drivers. Before AirBnB, there were house-share clubs with brochures and telephone booking systems.


pages: 323 words: 90,868

The Wealth of Humans: Work, Power, and Status in the Twenty-First Century by Ryan Avent

"Robert Solow", 3D printing, Airbnb, American energy revolution, assortative mating, autonomous vehicles, Bakken shale, barriers to entry, basic income, Bernie Sanders, BRICs, business cycle, call centre, Capital in the Twenty-First Century by Thomas Piketty, Clayton Christensen, cloud computing, collective bargaining, computer age, creative destruction, dark matter, David Ricardo: comparative advantage, deindustrialization, dematerialisation, Deng Xiaoping, deskilling, disruptive innovation, Dissolution of the Soviet Union, Donald Trump, Downton Abbey, Edward Glaeser, Erik Brynjolfsson, eurozone crisis, everywhere but in the productivity statistics, falling living standards, first square of the chessboard, first square of the chessboard / second half of the chessboard, Ford paid five dollars a day, Francis Fukuyama: the end of history, future of work, gig economy, global supply chain, global value chain, hydraulic fracturing, income inequality, independent contractor, indoor plumbing, industrial robot, intangible asset, interchangeable parts, Internet of things, inventory management, invisible hand, James Watt: steam engine, Jeff Bezos, John Maynard Keynes: Economic Possibilities for our Grandchildren, Joseph-Marie Jacquard, knowledge economy, low skilled workers, lump of labour, Lyft, manufacturing employment, Marc Andreessen, mass immigration, means of production, new economy, performance metric, pets.com, post-work, price mechanism, quantitative easing, Ray Kurzweil, rent-seeking, reshoring, rising living standards, Robert Gordon, Ronald Coase, savings glut, Second Machine Age, secular stagnation, self-driving car, sharing economy, Silicon Valley, single-payer health, software is eating the world, supply-chain management, supply-chain management software, TaskRabbit, The Future of Employment, The Nature of the Firm, The Rise and Fall of American Growth, The Spirit Level, The Wealth of Nations by Adam Smith, trade liberalization, transaction costs, Tyler Cowen: Great Stagnation, Uber and Lyft, Uber for X, uber lyft, very high income, working-age population

Moderate reformers will find themselves losing ground to politicians keen to unpick elements of the era of moderation, from the move towards freer trade and capital flows to the elimination of labour-market protections. Politicians will promise to make markets create good jobs: by mandating higher minimum wages, supporting occupational certification and other job protections, and pushing firms to regularize work in sharing-economy sectors – by requiring payment of benefits and the guarantee of a certain number of regular hours, for instance. The global economy probably won’t reward these efforts either. But they benefit from securing the support of portions of the electorate who receive protections from such measures – whose slice of the pie is cut a bit larger.

What’s more, ageing countries are not uniformly old; even in places with highly top-heavy population pyramids, a large share of the population is still of working age and is bound to be resentful of large numbers of people brought in expressly to fill jobs in one of the few sectors that reliably creates new employment. An openness and cosmopolitanism inspired by demographic change would be an encouraging political development. It might one day materialize. It hasn’t yet. THE SHARING ECONOMIES Could there be a constituency for a more benign set of policy innovations: for generous basic incomes tied to sensible work requirements, designed to encourage public-spirited labour contributions but leaving room for the individual’s freedom to live the way he or she wants to live? That might be a lot to ask.

Ray labour abundance as good problem bargaining power cognitive but repetitive collective bargaining and demographic issues discrimination and exclusion global growth of workforce and immigration liberalization in 1970s/80s ‘lump of labour’ fallacy occupational licences organized and proximity reallocation to growing industries retraining and skill acquisition and scarcity and social value work as a positive good see also employment Labour Party, British land scarcity Latvia Le Pen, Jean-Marie Le Pen, Marine legal profession Lehman Brothers collapse (2008) Lepore, Jill liberalization, economic (from 1970s) Linkner, Josh, The Road to Reinvention London Lucas, Robert Lyft maker-taker distinction Malthus, Reverend Thomas Manchester Mandel, Michael Mankiw, Gregory marketing and public relations Marshall, Alfred Marx, Karl Mason, Paul, Postcapitalism (2015) McAfee, Andrew medicine and healthcare ‘mercantilist’ world Mercedes Benz Mexico Microsoft mineral industries minimum wage Mokyr, Joel Monroe, President James MOOCs (‘massive open online courses’) Moore, Gordon mortality rates Mosaic (web browser) music, digital nation states big communities of affinity inequality between as loci of redistribution and social capital nationalist and separatist movements Netherlands Netscape New York City Newsweek NIMBYism Nordic and Scandinavian economies North Carolina North Dakota Obama, Barack oil markets O’Neill, Jim Oracle Orbán, Viktor outsourcing Peretti, Jonah Peterson Institute for International Economics pets.com Philadelphia Centennial Fair (1876) Philippines Phoenix, Arizona Piketty, Thomas, Capital in the Twenty-First Century (2013) Poland political institutions politics fractionalization in Europe future/emerging narratives geopolitical forces human wealth narrative left-wing looming upheaval/conflict Marxism nationalist and separatist movements past unrest and conflict polarization in USA radicalism and extremism realignment revolutionary right-wing rise of populist outsiders and scarcity social membership battles Poor Laws, British print media advertising revenue productivity agricultural artisanal goods and services Baumol’s Cost Disease and cities and dematerialization and digital revolution and employment trilemma and financial crisis (2008) and Henry Ford growth data in higher education of highly skilled few and industrial revolution minimum wage impact paradox of in service sector and specialization and wage rates see also factors of production professional, technical or managerial work and education levels and emerging economies the highly skilled few and industrial revolution and ‘offshoring’ professional associations skilled cities professional associations profits Progressive Policy Institute property values proximity public spending Putnam, Robert Quakebot quantitative easing Race Against the Machine, Brynjolfsson and McAfee (2011) railways Raleigh, North Carolina Reagan, Ronald redistribution and geopolitical forces during liberal era methods of nation state as locus of as a necessity as politically hard and societal openness wealth as human rent, economic Republican Party, US ‘reshoring’ phenomenon Resseger, Matthew retail sector retirement age Ricardo, David rich people and maker-taker distinction wild contingency of wealth Robinson, James robots Rodrik, Dani Romney, Mitt rule of law Russia San Francisco San Jose Sanders, Bernie sanitation SAP Saudi Arabia savings glut, global ‘Say’s Law’ Scalia, Antonin Scandinavian and Nordic economies scarcity and labour political effects of Schleicher, David Schwartz, Anna scientists Scotland Sears Second World War secular stagnation global spread of possible solutions shale deposits sharing economies Silicon Valley Singapore skilled workers and education levels and falling wages the highly skilled few and industrial revolution ‘knowledge-intensive’ goods and services reshoring phenomenon technological deskilling see also professional, technical or managerial work Slack (chat service) Slate (web publication) smartphone culture Smith, Adam social capital and American Constitution baseball metaphor and cities ‘deepening’ definition/nature of and dematerialization and developing economies and erosion of institutions of firms and companies and good government and housing wealth and immigration and income distribution during industrial revolution and liberalization and nation-states productive application of and rich-poor nation gap and Adam Smith and start-ups social class conflict middle classes and NIMBYism social conditioning of labour force working classes social democratic model social reform social wealth and social membership software ‘enterprise software’ products supply-chain management Solow, Robert Somalia South Korea Soviet Union, dissolution of (1991) specialization Star Trek state, role of steam power Subramanian, Arvind suburbanization Sweden Syriza party Taiwan TaskRabbit taxation telegraphy Tesla, Nikola Thatcher, Margaret ‘tiger’ economies of South-East Asia Time Warner Toyota trade China as ‘mega-trader’ ‘comparative advantage’ theory and dematerialization global supply chains liberalization shaping of by digital revolution Adam Smith on trade unions transhumanism transport technology self-driving cars Trump, Donald Twitter Uber UK Independence Party United States of America (USA) 2016 Presidential election campaign average income Bureau of Labour Statistics (BLS) Constitution deindustrialization education in employment in ethno-nationalist diversity of financial crisis (2008) housing costs in housing wealth in individualism in industrialization in inequality in Jim Crow segregation labour scarcity in Young America liberalization in minimum wage in political polarization in post-crisis profit rates productivity boom of 1990s real wage data rising debt levels secular stagnation in shale revolution in social capital in and social wealth surpasses Britain as leading nation wage subsidies in university education advanced degrees downward mobility of graduates MOOCs (‘massive open online courses’) and productivity see also education urbanization utopias, post-work Victoria, Queen video-gamers Virginia, US state Volvo Vox wages basic income policy Baumol’s Cost Disease cheap labour and employment growth and dot.com boom and financial crisis (2008) and flexibility and Henry Ford government subsidies and housing costs and immigration and industrial revolution low-pay as check on automation minimum wage and productivity the ‘reservation wage’ as rising in China rising in emerging economies and scarcity in service sector and skill-upgrading approach stagnation of and supply of graduates Wandsworth Washington D.C.


pages: 602 words: 177,874

Thank You for Being Late: An Optimist's Guide to Thriving in the Age of Accelerations by Thomas L. Friedman

3D printing, additive manufacturing, affirmative action, Airbnb, AltaVista, Amazon Web Services, autonomous vehicles, Ayatollah Khomeini, barriers to entry, Berlin Wall, Bernie Sanders, bitcoin, blockchain, Bob Noyce, business cycle, business process, call centre, centre right, Chris Wanstrath, Clayton Christensen, clean water, cloud computing, corporate social responsibility, creative destruction, crowdsourcing, David Brooks, demand response, demographic dividend, demographic transition, Deng Xiaoping, disinformation, Donald Trump, Erik Brynjolfsson, failed state, Fall of the Berlin Wall, Ferguson, Missouri, first square of the chessboard / second half of the chessboard, Flash crash, game design, gig economy, global pandemic, global supply chain, illegal immigration, immigration reform, income inequality, indoor plumbing, intangible asset, Intergovernmental Panel on Climate Change (IPCC), Internet of things, invention of the steam engine, inventory management, Irwin Jacobs: Qualcomm, Jeff Bezos, job automation, John Markoff, John von Neumann, Khan Academy, Kickstarter, knowledge economy, knowledge worker, land tenure, linear programming, Live Aid, low skilled workers, Lyft, Marc Andreessen, Mark Zuckerberg, mass immigration, Maui Hawaii, Menlo Park, Mikhail Gorbachev, mutually assured destruction, Nelson Mandela, pattern recognition, planetary scale, pull request, Ralph Waldo Emerson, ransomware, Ray Kurzweil, Richard Florida, ride hailing / ride sharing, Robert Gordon, Ronald Reagan, Second Machine Age, self-driving car, shareholder value, sharing economy, Silicon Valley, Skype, smart cities, South China Sea, Steve Jobs, supercomputer in your pocket, TaskRabbit, The Rise and Fall of American Growth, Thomas L Friedman, transaction costs, Transnistria, uber lyft, undersea cable, urban decay, urban planning, Watson beat the top human players on Jeopardy!, WikiLeaks, women in the workforce, Y2K, Yogi Berra, zero-sum game

The idea was to create a global network through which anyone anywhere could rent a spare room in their home to earn cash. In homage to its roots, they called the company Airbnb, which has grown so large that it is now bigger than all the major hotel chains combined—even though, unlike Hilton and Marriott, it doesn’t own a single bed. And the new trend it set off is the “sharing economy.” When I first heard Chesky describe his company, I confess to being a little dubious: I mean, how many people in Paris really want to rent out their kid’s bedroom down the hall to a perfect stranger—who comes to them via the Internet? And how many strangers want to be down the hall? Answer: a lot!

What we did was give those strangers identities and brands that you could trust. Do you want a stranger staying in your home? No. But would you like Michelle who went to Harvard, works in a bank, and has a five-star rating as a guest on Airbnb? Sure!” Chesky would love to apply what Airbnb has learned about the sharing economy to other realms and experiences, or, as he once put it to me: “There are eighty million power drills in America that are used an average of thirteen minutes. Does everyone really need their own drill?” The distance between imagining something, designing it, manufacturing it, and selling it everywhere has never been shorter, faster, cheaper, and easier—for engineers and non-engineers alike.

.: Social technologies are how we organize to capture the benefits of cooperation—non-zero-sum games. Physical technologies and social technologies coevolve. Physical technology innovations make new social technologies possible, like fossil fuel technologies made mass production possible, smartphones make the sharing economy possible. And vice versa, social technologies make new physical technologies possible—Steve Jobs couldn’t have made the smartphone without a global supply chain. But there is one big difference between these two forms of technology, he added: Physical technologies evolve at the pace of science—fast and getting exponentially faster, while social technologies evolve at the pace at which humans can change—much slower.


pages: 165 words: 50,798

Intertwingled: Information Changes Everything by Peter Morville

A Pattern Language, Airbnb, Albert Einstein, Arthur Eddington, augmented reality, Bernie Madoff, Black Swan, business process, Cass Sunstein, cognitive dissonance, collective bargaining, disinformation, disruptive innovation, index card, information retrieval, Internet of things, Isaac Newton, iterative process, Jane Jacobs, John Markoff, Lean Startup, Lyft, minimum viable product, Mother of all demos, Nelson Mandela, Paul Graham, peer-to-peer, RFID, Richard Thaler, ride hailing / ride sharing, Schrödinger's Cat, self-driving car, semantic web, sharing economy, Silicon Valley, Silicon Valley startup, source of truth, Steve Jobs, Stewart Brand, Ted Nelson, The Death and Life of Great American Cities, the scientific method, The Wisdom of Crowds, theory of mind, uber lyft, urban planning, urban sprawl, Vannevar Bush, zero-sum game

Yes, once again, I’m making myself uncomfortable. I’m an advisor to the School of Library and Information Science at San José State University. Since 2009, the program has embraced a 100% online model. Ironically, I’m here for a face to face meeting. And I’m using this visit to California as an opportunity to dip my toes into the infamous sharing economy. So, I’m not in a cab, and I’m not hitchhiking. I’m in a black town car with an Uber-qualified driver named Gustavo. I hailed him via mobile app. I must admit it was fun watching the little black car icon drive to my location. I already know a bit about my driver. He’s passed Uber’s insurance and background checks and has a 5 star rating.

As my black Uber car cruises the freeways of San José, I’m besieged by the image of urban sprawl. It’s hard to feel at home in a place like this. But it’s not just the office parks and strip malls that are making me uncomfortable. I’m worried about meeting Sophie. Part of the reason I don’t participate in the sharing economy is I’m an introvert, and a shy one too. Hotels are easy. Staff rarely say more than hello. But Airbnb is different. I’m staying in a home with my host. It’s like crashing with a friend you don’t know. Of course, Sophie comes highly recommended. She has a 5-star rating and dozens of glowing reviews.


pages: 186 words: 49,251

The Automatic Customer: Creating a Subscription Business in Any Industry by John Warrillow

Airbnb, airport security, Amazon Web Services, asset allocation, barriers to entry, call centre, cloud computing, commoditize, David Heinemeier Hansson, discounted cash flows, Hacker Conference 1984, high net worth, Jeff Bezos, Network effects, passive income, rolodex, sharing economy, side project, Silicon Valley, Silicon Valley startup, software as a service, statistical model, Steve Jobs, Stewart Brand, subscription business, telemarketer, time value of money, zero-sum game, Zipcar

Call them the Access Generation: a growing cohort of mobile, technically savvy young people who value access over assets. They prefer to stay nimble and rent a home rather than own one; listen to a song on Spotify rather than buy it from iTunes; or subscribe to Oysterbooks .com or Scribd rather than buy from a Barnes & Noble store. The Access Generation is behind the explosion of the new “sharing” economy. Sharing stuff has been around since stuff itself, but technology allows sharing to scale: websites like Airbnb match buyer and seller; your GPS-enabled iPhone allows you to find the closest Zipcar; Facebook and LinkedIn enable you to vet anyone you’re thinking of doing business with; and sites like PayPal allow you to safely pay for what you’re renting.

Power & Associates, 186–87 Jobs, Steve, 57 Kassensturz, 88 Kava, Jordana, 93–94 Kelly, Patrick, 35–36, 96, 164 Kerber, Tim, 49 Kirkpatrick & Hopes, 168–70 Klein, Bernard, 93 Køge, 24–25 Koum, Jan, 2, 113 K-Tipp, 88 LA Fitness, 180 laptops, 116 Lapwood, Nev, 171 large companies, 188–89, 194 lawn care, 104 Levine, Mark, 81–83, 87 Liechti, Samy, 83 LifeLock, 140 lifetime value (LTV), 128, 130, 138, 139, 142–43, 146, 151, 173 Ancestry.com and, 136 Constant Contact and, 137 HubSpot and, 133–34 Mosquito Squad and, 138 light-switch reliability, 19–20, 22 Lindt, 93, 94 LinkedIn, 19, 63, 140 Lippitt, Robb, 51 logo churn, 191–93 LoJack Stolen Vehicle Recovery System, 116 long tail, 21–22 Long Tail, The (Anderson), 16, 21 Lore, Marc, 84–85 Luciani, Patrick, 70 Lynda.com, 59 magazines, 16–17, 193 margin, 131–32 Ancestry.com and, 136 HubSpot and, 133–34 Mosquito Squad and, 138 MarketingSherpa, 52, 53 market research, 34–36 Martella, Roberto, 70 Matrix Partners, 129 McCabe, Kathy, 48–49 McDerment, Mike, 27, 144–48, 163 McGrath, Rob, 68 measuring progress, 125–34 Meeker, Matt, 19, 92 MemberGate, 49 membership website model, 47–55 Mequoda Group, 61, 154, 161, 179 messaging services, 2 WhatsApp, 1–2, 108–9, 113, 157 Microsoft, 22 Office, 24 Project, 146n Windows, 57 millennial generation, 18 MMORPGs (massively multiplayer online role-playing games), 111–12 monthly recurring revenue (MRR), 128, 139, 143, 149, 174 Ancestry.com and, 135, 136 CAC payback period and, 140–43 churn rate and, see churn rate Constant Contact and, 136, 137 HubSpot and, 132, 133–34, 135, 149 Mosquito Squad and, 138 SnowboardAddiction.com and, 171 Wild Apricot and, 189–91 Morningstar, 11, 12 Mosquito Squad, 31–32, 103–4, 138, 153–54, 197 Murdoch, Rupert, 16 music business, 57–58 Myspace, 146n National Dance Council of America, 49–50 Nelson, Perry, 165, 171–72, 178–79 Netflix, 35, 59, 63, 154, 155, 159, 166 NetSuite.com, 189 network model, 107–14 New Masters Academy, 59–62, 155, 166 newspapers, 16–17 New York Times, 17, 48, 82 Nicely Noted, 165, 171–72, 178–79 Nicholas, Don, 61, 154, 161, 179 Nightingale Conant, 66 Nike, 89 Nimsoft, 141–42 O’Brien, Chris, 187 onboarding, 132, 140, 142 90-day clock and, 176–82 One Wipe Charlies, 192 online reputation, 117 Onvia, 17 Osler Bluff, 162 Otis, 40 Outdoor Living Brands, 32 Oyster, 59 Panda, Sonu, 33, 158, 197 PayPal, 19 peace-of-mind model, 115–22 pets, 91–92 BarkBox and, 19, 92, 95, 165, 187 PetShopBowl.com and, 38 Tagg and, 115 PetShopBowl.com, 38 pharmacies, 31 photo printing, 156–57 Piranha Marketing System: The Seven Success Multiplying Factors to Dominate Any Market You Enter (Polish), 66 Pitney Bowes, 178 Plugg, 157 Polish, Joe, 66–67, 155 Portrait Software, 178 prioritizing customers, 75 private club model, 65–72 Private Retreats, 68 Procter & Gamble (P&G), 192 productivity applications, 100 profit-and-loss (P&L) statement, 125–28, 138 publishing, 16–17 QSS Group, 101 Qualcomm, 115 Quickbooks, 146n Quidsi, 15, 86 Radian6, 117 radioactive waste and devices, 36–37 Ravindran, Vijay, 12 razor blade business: Dollar Shave Club, 81–83, 84, 87–89, 157, 175–76, 192–93 Raz*War, 157–58, 193, 194 Raz*War, 157–58, 193, 194 Rdio, 58, 155 recession, 39–41 recurring revenue, 4, 6, 78, 104, 128 see also monthly recurring revenue reliability, 19–20, 22 “Renegotiation of Cash Flow Rights in the Sale of VC-Backed Firms” (Broughman and Fried), 147 RestaurantOwner.com, 49 Revolution Dancewear, 50–52 Rhapsody, 58 risk, 119–20, 121 RoleView, 150, 192 roof business, 118–20 Rosen, Lori, 88 Roth, Marcel, 83 Royal Melbourne Golf Club (RMGC), 65–66, 72 Running Room, 13 social status, 68, 69 SafetyNet, 116 sales approaches, 134–38 Salesforce.com, 18, 19, 74–75, 117, 159, 176 salespeople, 135, 167 Salon Speaker Series (Grano Speaker Series), 70–71, 159 scaling up, 171–94 Schwietzer, Robbie, 13 self-employed individuals, 188–89 Sellability Score.com, 3–4, 28, 31, 132, 149, 176, 182 selling subscriptions, see subscription selling “sharing” economy, 18–19 simplifier model, 99–105, 121 Site24x7.com, 117 skiing, 162 Skok, David, 129–30, 131, 150, 151, 185 Snaptracs, 115 SnowboardAddiction.com, 171 social proof, 67 socks: Blacksocks, 83, 84, 88, 151 Foot Cardigan, 165 software industry, 29–32, 74–75, 125–26 Spagnuolo, Marc, 47 SpicySubscriptions.com, 91 Spotify, 58 Springwise, 157 Standard Cocoa, 22, 93–94, 165 StitchFix, 91 Stone, Brad, 85 Strife, Carly, 92 strivers, 72 Stuart Hunt & Associates, 36–37 subscription economy, 11–25 competing in, 22–24 subscription models: all-you-can-eat library, 57–63 automatic payments in, 36–37 business valuation and, 28–32 challenges of adopting, 41–43 consumables, 81–90 convincing employees and partners about merits of, 168–69 customer loyalty and, 38 demand and, 33–34 front-of-the-line, 73–79 history of, 15–18 lifetime value of customer in, 32–33 market research and, 34–36 measuring progress in, 125–34 membership website, 47–55 need for, 27–43 network, 107–14 peace-of-mind, 115–22 private club, 65–72 recession risk and, 39–41 renaissance of, 18–22 sales approaches for, 134–38 simplifier, 99–105, 121 surprise box, 91–98 up-selling in, 38–39 using in your own business, 122 subscription selling, 153–70 burning platform strategy in, 166–67 freemium option in, 161–62, 164 gift offers in, 164–66 rational buying and, 157–59 subscription fatigue and, 154 10x vs. 10% idea in, 155–57 trial in, 161–64 ultimatum in, 159–60 Subscription Site Insider, 52, 53 surfing, 182–83 surprise box model, 91–98 swimming pools, 104 Tagg, 115 Tarence, Zen, 29–30 Target, 13, 89 Subscriptions, 15 TechCrunch, 157 technology, 99 telephone, 107–8 telephone sales, 135 The Live Event (TLE), 53 37signals, 144, 145–46 Thriveworks, 75–77 TIGER 21, 67–68, 72, 149, 159 Time Warner Cable, 23 TrendHunter.com, 91–92 trial offers, 161–64 Tri-State Elevator Co., 40–41 Trojan Horse, 94–95, 98 Twitter, 61, 63, 108, 117 ultimatums, 159–60 underwriting profit, 117, 118 user marketing, 108–9 vacation industry, 68–70, 73–74 Vagonis, Jim, 102–3, 181 valuation of businesses, 28–32 venture capital, 147–48, 151 viability threshold, 129–30 Volcker, Paul, 70 Wall Street Journal, 17, 48, 188 Walmart, 13, 84, 89 Goodies Co., 20–21, 35 Warrillow & Co., 5–6 website monitoring, 117 Wells Fargo, 126 Werdelin, Henrik, 92 WhatsApp, 1–2, 108–9, 113, 157 WhichTestWon.com, 52–53 Whiteman, Brian, 156 Whiteman, Julie, 156 Wild Apricot, 29, 184–85, 189–91 Wired, 16 Women’s Living, 179 Woodward, Bob, 71 Wood Whisperer Guild, 47 Workday, 135 World of Warcraft, 111–12 WP Engine, 177 Wunderlist, 100 Yoga Journal, 179 Zendesk, 77, 79, 163 Zide, Scott, 32 Zipcar, 19, 109–11, 113, 153 * The “first mover advantage” concept is severely overhyped.


pages: 463 words: 105,197

Radical Markets: Uprooting Capitalism and Democracy for a Just Society by Eric Posner, E. Weyl

3D printing, activist fund / activist shareholder / activist investor, Affordable Care Act / Obamacare, Airbnb, Amazon Mechanical Turk, anti-communist, augmented reality, basic income, Berlin Wall, Bernie Sanders, Branko Milanovic, business process, buy and hold, carbon footprint, Cass Sunstein, Clayton Christensen, cloud computing, collective bargaining, commoditize, Corn Laws, corporate governance, crowdsourcing, cryptocurrency, Donald Trump, Elon Musk, endowment effect, Erik Brynjolfsson, Ethereum, feminist movement, financial deregulation, Francis Fukuyama: the end of history, full employment, Garrett Hardin, George Akerlof, global supply chain, guest worker program, hydraulic fracturing, Hyperloop, illegal immigration, immigration reform, income inequality, income per capita, index fund, informal economy, information asymmetry, invisible hand, Jane Jacobs, Jaron Lanier, Jean Tirole, Joseph Schumpeter, Kenneth Arrow, labor-force participation, laissez-faire capitalism, Landlord’s Game, liberal capitalism, low skilled workers, Lyft, market bubble, market design, market friction, market fundamentalism, mass immigration, negative equity, Network effects, obamacare, offshore financial centre, open borders, Pareto efficiency, passive investing, patent troll, Paul Samuelson, performance metric, Plutocrats, plutocrats, pre–internet, random walk, randomized controlled trial, Ray Kurzweil, recommendation engine, rent-seeking, Richard Thaler, ride hailing / ride sharing, risk tolerance, road to serfdom, Robert Shiller, Robert Shiller, Ronald Coase, Rory Sutherland, Second Machine Age, second-price auction, self-driving car, shareholder value, sharing economy, Silicon Valley, Skype, special economic zone, spectrum auction, speech recognition, statistical model, stem cell, telepresence, Thales and the olive presses, Thales of Miletus, The Death and Life of Great American Cities, The Future of Employment, The Market for Lemons, The Nature of the Firm, The Rise and Fall of American Growth, The Theory of the Leisure Class by Thorstein Veblen, The Wealth of Nations by Adam Smith, Thorstein Veblen, trade route, Tragedy of the Commons, transaction costs, trickle-down economics, Uber and Lyft, uber lyft, universal basic income, urban planning, Vanguard fund, women in the workforce, Zipcar

Renting carries with it the risk that you will be evicted if you miss a number of rental payments or cannot afford your rent after it has been increased by the landlord. People “self-assess” valuations in difficult circumstances whenever they buy insurance and are required, even if only implicitly, to decide how much money they would need if their house or car is destroyed. The sharing economy—exemplified by Zipcar, Uber, and Airbnb—is helping to accustom us to temporary “possessing” rather than “owning,” and simultaneously consuming and selling (and hence setting a price on) the same product. However, a COST would change life radically, which is why it should be tested in limited public and commercial markets before being applied more broadly.

Leaders, political campaigns, and political scientists have begun to explore whether using QV to elicit public opinions allows them to more accurately answer the questions so crucial to their jobs: how can we form a platform and reach compromises that will respect the strongly held views of a range of citizens? In the coming years, experiments with QV will offer a proving ground for the practical utility of QV. RATING AND SOCIAL AGGREGATION Rating and social aggregation systems fuel today’s digital economy. Reputation systems are the crucial trust mechanisms that allow “sharing economy” services like Airbnb, VRBO, Uber, and Lyft to win consumer acceptance and give providers the confidence to adopt the system.46 They play a core role in the popular search services offered by Amazon, Google, Apple’s app store, and Yelp. Yet a growing body of evidence suggests these systems are badly broken.

., 78 Cabral, Luís, 202 Cadappster app, 31 Caesar, Julius, 84 Canada, 10, 13, 159, 182 capitalism, xvi; basic structure of, 24–25; competition and, 17 (see also competition); corporate planning and, 39–40; cultural consequences of, 270, 273; Engels on, 239–40; freedom and, 34–39; George on, 36–37; growth and, 3 (see also growth, economic); industrial revolution, 36, 255; inequality and, 3 (see also inequality); labor and, 136–37, 143, 159, 165, 211, 224, 231, 239–40, 316n4; laissez-faire, 45; liberalism and, 3, 17, 22–27; markets and, 278, 288, 304n36; Marx on, 239–40; monopolies and, 22–23, 34–39, 44, 46–49, 132, 136, 173, 177, 179, 199, 258, 262; monopsony and, 190, 199–201, 223, 234, 238–41, 255; ownership and, 34–36, 39, 45–49, 75, 78–79; property and, 34–36, 39, 45–49, 75, 78–79; Radical Markets and, 169, 180–85, 203, 273; regulations and, 262; Schumpeter on, 47; shareholders and, 118, 170, 178–84, 189, 193–95; technology and, 34, 203, 316n4; wealth and, 45, 75, 78–79, 136, 143, 239, 273 Capitalism and Freedom (Friedman), xiii Capitalism for the People, A (Luigi), 203 Capra, Frank, 17 Carroll, Lewis, 176 central planning: computers and, 277–85, 288–93; consumers and, 19; democracy and, 89; governance and, 19–20, 39–42, 46–48, 62, 89, 277–85, 288–90, 293; healthcare and, 290–91; liberalism and, 19–20; markets and, 277–85, 288–93; property and, 39–42, 46–48, 62; recommendation systems and, 289–90; socialism and, 39–42, 47, 277, 281 Chetty, Raj, 11 Chiang Kai-shek, 46 China, 15, 46, 56, 133–34, 138 Christensen, Clayton, 202 Chrysler, 193 Citigroup, 183, 184, 191 Clarke, Edward, 99, 102, 105 Clayton Act, 176–77, 197, 311n25 Clemens, Michael, 162 Coase, Ronald, 40, 48–51, 299n26 Cold War, xix, 25, 288 collective bargaining, 240–41 collective decisions: democracy and, 97–105, 110–11, 118–20, 122, 124, 273, 303n17, 304n36; manipulation of, 99; markets for, 97–105; public goods and, 98; Quadratic Voting (QV) and, 110–11, 118–20, 122, 124, 273, 303n17, 304n36; Vickrey and, 99, 102, 105 colonialism, 8, 131 Coming of the Third Reich, The (Evans), 93 common ownership self-assessed tax (COST): broader application of, 273–76; cybersquatters and, 72; education and, 258–59; efficiency and, 256, 261; equality and, 258; globalization and, 269–70; growth and, 73, 256; human capital and, 258–61; immigrants and, 261, 269, 273; inequality and, 256–59; international trade and, 270; investment and, 258–59, 270; legal issues and, 275; markets and, 286; methodology of, 63–66; monopolies and, 256–61, 270, 300n43; objections to, 300n43; optimality and, 61, 73, 75–79, 317n18; personal possessions and, 301n47, 317n18; political effects of, 261–64; predatory outsiders and, 300n43; prices and, 62–63, 67–77, 256, 258, 263, 275, 300n43, 317n18; property and, 31, 61–79, 271–74, 300n43, 301n47; public goods and, 256; public leases and, 69–72; Quadratic Voting (QV) and, 123–25, 194, 261–63, 273, 275, 286; Radical Markets and, 79, 123–26, 257–58, 271–72, 286; taxes and, 61–69, 73–76, 258–61, 275, 317n18; technology and, 71–72, 257–59; true market economy and, 72–75; voting and, 263; wealth and, 256–57, 261–64, 269–70, 275, 286 communism, 19–20, 46–47, 93–94, 125, 278 competition: antitrust policies and, 23, 48, 174–77, 180, 184–86, 191, 197–203, 242, 255, 262, 286; auctions and, xv–xix, 49–51, 70–71, 97, 99, 147–49, 156–57; bargaining and, 240–41, 299n26; democracy and, 109, 119–20; by design, 49–55; elitism and, 25–28; equilibrium and, 305n40; eternal vigilance and, 204; horizontal concentration and, 175; imperfect, 304n36; indexing and, 185–91, 302n63; innovation and, 202–3; investment and, 196–97; labor and, 145, 158, 162–63, 220, 234, 236, 239, 243, 245, 256, 266; laissez-faire and, 253; liberalism and, 6, 17, 20–28; lobbyists and, 262; monopolies and, 174; monopsony and, 190, 199–201, 223, 234, 238–41, 255; ownership and, 20–21, 41, 49–55, 79; perfect, 6, 25–28, 109; prices and, 20–22, 25, 173, 175, 180, 185–90, 193, 200–201, 204, 244; property and, 41, 49–55, 79; Quadratic Voting (QV) and, 304n36; regulations and, 262; resale price maintenance and, 200–201; restoring, 191–92; Section 7 and, 196–97, 311n25; selfishness and, 109, 270–71; Smith on, 17; tragedy of the commons and, 44 complexity, 218–20, 226–28, 274–75, 279, 281, 284, 287, 313n15 “Computer and the Market, The” (Lange), 277 computers: algorithms and, 208, 214, 219, 221, 281–82, 289–93; automation of labor and, 222–23, 251, 254; central planning and, 277–85, 288–93; data and, 213–14, 218, 222, 233, 244, 260; Deep Blue, 213; distributed computing and, 282–86, 293; growth in poor countries and, 255; as intermediaries, 274; machine learning (ML) and, 214 (see also machine learning [ML]); markets and, 277, 280–93; Mises and, 281; Moore’s Law and, 286–87; Open-Trac and, 31–32; parallel processing and, 282–86; prices of, 21; recommendation systems and, 289–90 Condorcet, Marquis de, 4, 90–93, 303n15, 306n51 conspicuous consumption, 78 Consumer Reports magazine, 291 consumers: antitrust suits and, 175, 197–98; central planning and, 19; data from, 47, 220, 238, 242–44, 248, 289; drone delivery to, 220; as entrepreneurs, 256; goods and services for, 27, 92, 123, 130, 175, 280, 292; institutional investment and, 190–91; international culture for, 270; lobbyists and, 262; machine learning (ML) and, 238; monopolies and, 175, 186, 197–98; preferences of, 280, 288–93; prices and, 172 (see also prices); recommendation systems and, 289–90; robots and, 287; sharing economy and, 117; Soviet collapse and, 289; technology and, 287 cooperatives, 118, 126, 261, 267, 299n24 Corbyn, Jeremy, 12, 13 corruption, 3, 23, 27, 57, 93, 122, 126, 157, 262 Cortana, 219 cost-benefit analysis, 2, 244 “Counterspeculation, Auctions and Competitive Sealed Tenders” (Vickrey), xx–xxi Cramton, Peter, 52, 54–55, 57 crowdsourcing, 235 crytocurrencies, 117–18 cybersquatters, 72 data: algorithms and, 208, 214, 219, 221, 281–82, 289–93; big, 213, 226, 293; computers and, 213–14, 218, 222, 233, 244, 260; consumer, 47, 220, 238, 242–44, 248, 289; diamond-water paradox and, 224–25; diminishing returns and, 226, 229–30; distribution of complexity and, 228; as entertainment, 233–39, 248–49; Facebook and, 28, 205–9, 212–13, 220–21, 231–48; feedback and, 114, 117, 233, 238, 245; free, 209, 211, 220, 224, 231–35, 239; Google and, 28, 202, 207–13, 219–20, 224, 231–36, 241–42, 246; investment in, 212, 224, 232, 244; labeled, 217–21, 227, 228, 230, 232, 234, 237; labor movement for, 241–43; Lanier and, 208, 220–24, 233, 237, 313n2, 315n48; marginal value and, 224–28, 247; network effects and, 211, 236, 238, 243; neural networks and, 214–19; online services and, 211, 235; overfitting and, 217–18; payment systems for, 210–13, 224–30; photographs and, 64, 214–15, 217, 219–21, 227–28, 291; programmers and, 163, 208–9, 214, 217, 219, 224; Radical Markets for, 246–49; reCAPTCHA and, 235–36; recommendation systems and, 289–90; rise of data work and, 209–13; sample complexity and, 217–18; siren servers and, 220–24, 230–41, 243; social networks and, 202, 212, 231, 233–36; technofeudalism and, 230–33; under-employment and, 256; value of, 243–45; venture capital and, 211, 224; virtual reality and, 206, 208, 229, 251, 253; women’s work and, 209, 313n4 Declaration of Independence, 86 Deep Blue, 213 DeFoe, Daniel, 132 Demanding Work (Gray and Suri), 233 democracy: 1p1v system and, 82–84, 94, 109, 119, 122–24, 304n36, 306n51; artificial intelligence (AI) and, 219; Athenians and, 55, 83–84, 131; auctions and, 97, 99; basic structure of, 24–25; central planning and, 89; check and balance systems and, 23, 25, 87, 92; collective decisions and, 97–105, 110–11, 118–20, 122, 124, 273, 303n17, 304n36; collective mediocrity and, 96; competition and, 109, 119–20; Declaration of Independence and, 86; efficiency and, 92, 110, 126; elections and, 22, 80, 93, 100, 115, 119–21, 124, 217–18, 296n20; elitism and, 89–91, 96, 124; Enlightenment and, 86, 95; Europe and, 90–96; France and, 90–95; governance and, 84, 117; gridlock and, 84, 88, 122–24, 261, 267; Hitler and, 93–94; House of Commons and, 84–85; House of Lords and, 85; impossibility theorem and, 92; inequality and, 123; Jury Theorem and, 90–92; liberalism and, 3–4, 25, 80, 86, 90; limits of, 85–86; majority rule and, 27, 83–89, 92–97, 100–101, 121, 306n51; markets and, 97–105, 262, 276; minorities and, 85–90, 93–97, 101, 106, 110; mixed constitution and, 84–85; multi-candidate, single-winner elections and, 119–20; origins of, 83–85; ownership and, 81–82, 89, 101, 105, 118, 124; public goods and, 28, 97–100, 107, 110, 120, 123, 126; Quadratic Voting (QV) and, 105–22; Radical Markets and, 82, 106, 123–26, 203; supermajorities and, 84–85, 88, 92; tyrannies and, 23, 25, 88, 96–100, 106, 108; United Kingdom and, 95–96; United States and, 86–90, 93, 95; voting and, 80–82, 85–93, 96, 99, 105, 108, 115–16, 119–20, 123–24, 303n14, 303n17, 303n20, 304n36, 305n39; wealth and, 83–84, 87, 95, 116 Demosthenes, 55 Denmark, 182 Department of Justice (DOJ), 176, 186, 191 deregulation, 3, 9, 24 Desmond, Matthew, 201–2 Dewey, John, 43 Dickens, Charles, 36 digital economy: data producers and, 208–9, 230–31; diamond-water paradox and, 224–25; as entertainment, 233–39; facial recognition and, 208, 216, 218–19; free access and, 211; Lanier and, 208, 220–24, 233, 237, 313n2, 315n48; machine learning (ML) and, 208–9, 213–14, 217–21, 226–31, 234–35, 238, 247, 289, 291, 315n48; payment systems for, 210–13, 221–30, 243–45; programmers and, 163, 208–9, 214, 217, 219, 224; rise of data work and, 209–13; siren servers and, 220–24, 230–41, 243; spam and, 210, 245; technofeudalism and, 230–33; virtual reality and, 206, 208, 229, 251, 253 diversification, 171–72, 180–81, 185, 191–92, 194–96, 310n22, 310n24 dot-com bubble, 211 double taxation, 65 Dupuit, Jules, 173 Durkheim, Émile, 297n23 Dworkin, Ronald, 305n40 dystopia, 18, 191, 273, 293 education, 114; common ownership self-assessed tax (COST) and, 258; data and, 229, 232, 248; elitism and, 260; equality in, 89; financing, 276; free compulsory, 23; immigrants and, 14, 143–44, 148; labor and, 140, 143–44, 148, 150, 158, 170–71, 232, 248, 258–60; Mill on, 96; populist movements and, 14; Stolper-Samuelson Theorem and, 143 efficient capital markets hypothesis, 180 elections, 80; data and, 217–18; democracy and, 22, 93, 100, 115, 119–21, 124, 217–18, 296n20; gridlock and, 124; Hitler and, 93; multi-candidate, single-winner, 119–20; polls and, 13, 111; Quadratic Voting (QV) and, 115, 119–21, 268, 306n52; U.S. 2016, 93, 296n20 Elhauge, Einer, 176, 197 elitism: aristocracy and, 16–17, 22–23, 36–38, 84–85, 87, 90, 135–36; bourgeoisie and, 36; bureaucrats and, 267; democracy and, 89–91, 96, 124; education and, 260; feudalism and, 16, 34–35, 37, 41, 61, 68, 136, 230–33, 239; financial deregulation and, 3; immigrants and, 146, 166; liberalism and, 3, 15–16, 25–28; minorities and, 12, 14–15, 19, 23–27, 85–90, 93–97, 101, 106, 110, 181, 194, 273, 303n14, 304n36; monarchies and, 85–86, 91, 95, 160 Emergency Economic Stabilization Act, 121 eminent domain, 33, 62, 89 Empire State Building, 45 Engels, Friedrich, 78, 240 Enlightenment, 86, 95 entrepreneurs, xiv; immigrants and, 144–45, 159, 256; labor and, 129, 144–45, 159, 173, 177, 203, 209–12, 224, 226, 256; ownership and, 35, 39 equality: common ownership self-assessed tax (COST) and, 258; education and, 89; immigrants and, 257; labor and, 147, 166, 239, 257; liberalism and, 4, 8, 24, 29; living standards and, 3, 11, 13, 133, 135, 148, 153, 254, 257; Quadratic Voting (QV) and, 264; Radical Markets and, 262, 276; trickle down theories and, 9, 12 Espinosa, Alejandro, 30–32 Ethereum, 117 Europe, 177, 201; democracy and, 88, 90–95; European Union and, 15; fiefdoms in, 34; government utilities and, 48; income patterns in, 5; instability in, 88; labor and, 11, 130–31, 136–47, 165, 245; social democrats and, 24; unemployment rates in, 11 Evans, Richard, 93 Evicted (Desmond), 201–2 Ex Machina (film), 208 Facebook, xxi; advertising and, 50, 202; data and, 28, 205–9, 212–13, 220–21, 231–48; monetization by, 28; news service of, 289; Vickrey Commons and, 50 facial recognition, 208, 216–19 family reunification programs, 150, 152 farms, 17, 34–35, 37–38, 61, 72, 135, 142, 179, 283–85 Federal Communications Commission (FCC), 50, 71 Federal Trade Commission (FTC), 176, 186 feedback, 114, 117, 233, 238, 245 feudalism, 16, 34–35, 37, 41, 61, 68, 136, 230–33, 239 Fidelity, 171, 181–82, 184 financial crisis of 2008, 3, 121 Fitzgerald, F.


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Amazon: How the World’s Most Relentless Retailer Will Continue to Revolutionize Commerce by Natalie Berg, Miya Knights

3D printing, Adam Neumann (WeWork), Airbnb, Amazon Web Services, augmented reality, Bernie Sanders, big-box store, business intelligence, cloud computing, Colonization of Mars, commoditize, computer vision, connected car, Donald Trump, Doomsday Clock, Elon Musk, gig economy, independent contractor, Internet of things, inventory management, invisible hand, Jeff Bezos, market fragmentation, new economy, pattern recognition, Ponzi scheme, pre–internet, QR code, race to the bottom, recommendation engine, remote working, sensor fusion, sharing economy, Skype, Steve Bannon, sunk-cost fallacy, supply-chain management, TaskRabbit, trade route, underbanked, urban planning, WeWork, white picket fence

The addition of allotments and farms gives shoppers the opportunity to select their own produce for their meal, while a network of waterways will not only offer an alternative route around the shopping centre but also access to watersports – one of the many leisure activities available. Westfield’s ‘Destination 2028’ concept also highlights the rise of the sharing economy, with ‘rental retail’ expected to become the norm for post-millennials seeking to rent everything from clothes to exercise gear. Pop-ups, temporary retail, and co-working spaces are also likely to emerge in the future of retail, according to Westfield. * * * A place to discover, a place to learn Retailers must not overlook the importance of discovery as they aim to create a more meaningful connection with shoppers.

Known for going the extra mile, Lush employees are also empowered to make their own decisions to better connect with the customer, whether that’s giving away a free sample or changing the merchandising mix to reflect the weather (ie putting out more colourful, cheery products on a rainy day). The result is a more meaningful, more memorable experience – and certainly one that goes beyond the transaction. A place to borrow Last but not least, we believe that the store of the future will be a place to borrow. The sharing economy has already disrupted transportation and tourism but has yet to make its mark on the retail sector – shops naturally want to sell, rather than lend, to their customers. Well, the times are a-changing. We are entering an age where access will trump ownership. This is due to the combination of a growing population, unprecedented connectivity and shifts in consumer values and priorities.

Available from: https://uk.westfield.com/content/dam/westfield-corp/uk/Style-Trial-Press-Release.pdf [Last accessed 1/7/2018] 29 Balch, Oliver (2016) Is the Library of Things an answer to our peak stuff problem? Guardian, 23 August. Available from: https://www.theguardian.com/sustainable-business/2016/aug/23/library-of-things-peak-stuff-sharing-economy-consumerism-uber [Last accessed 1/7/2018]. 13 Retail fulfilment: winning the customer over the final mile ‘You do not want to give Amazon a seven-year head start.’ Warren Buffett, US business magnate1 In Chapters 11 and 12, we saw how the store of the future will have to evolve to simultaneously reduce friction and become more experiential.


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Billion Dollar Loser: The Epic Rise and Spectacular Fall of Adam Neumann and WeWork by Reeves Wiedeman

Adam Neumann (WeWork), Airbnb, barriers to entry, Burning Man, call centre, carbon footprint, coronavirus, corporate governance, Covid-19, COVID-19, cryptocurrency, Donald Trump, dumpster diving, East Village, eat what you kill, Elon Musk, fear of failure, Gordon Gekko, housing crisis, index fund, Jeff Bezos, Lyft, margin call, Mark Zuckerberg, Maui Hawaii, medical residency, Menlo Park, mortgage debt, Network effects, new economy, prosperity theology / prosperity gospel / gospel of success, ride hailing / ride sharing, Sand Hill Road, sharing economy, Silicon Valley, Silicon Valley startup, Skype, Snapchat, software as a service, sovereign wealth fund, starchitect, stealth mode startup, Steve Jobs, Steve Wozniak, the High Line, Tim Cook: Apple, too big to fail, Travis Kalanick, Uber for X, uber lyft, WeWork, zero-sum game

Investors wanted to believe Adam could fulfill his vision, and at least some of their faith seemed to rest on an expectation that he could convince the next person to kick in even more—the greater fool theory of finance. When Adam approached tech investors, he emphasized the money that could be made in real estate; to more traditional financiers, he talked about the promise of WeWork’s technology. Around 2015, Adam came up with a new pitch: WeWork was a “community company,” part of the sharing economy, with hallways that were designed to be as narrow as possible not because doing so allowed WeWork to squeeze in more paying tenants, but in order to force members to connect. In early 2015, just a few months after WeWork’s Series D, its finance team started approaching investors about another injection of capital that would allow the company to keep up with its escalating costs.

“For a very spiritual country—and I can definitely tell you this is the most spiritual country in the world—I’m surprised a little bit from the amount of talk I heard about valuation and raising money and bubbles.” The crowd laughed nervously. Adam insisted this wasn’t what he was after. He believed that India’s budding democracy and growing economy embodied an idea he had been talking about with increasing frequency: the “We Generation,” an ageless demographic defined by a faith in the sharing economy and a belief that doing well could come from doing good. “I swear to you success will follow; the money will follow,” Adam said. “And you will change the world⁠.” On his last night in India, Adam met Masa at a bar on the top floor of a building in New Delhi. The meeting had been arranged by Nikesh Arora, Masa’s top deputy at SoftBank, who had previously spurned WeWork as a potential investment.

At the end of 2017, Adam and Rebekah spent $35 million to buy four apartments in a single Gramercy building, combining three of the units into a mega penthouse. Adam bought homes for his sister and grandmother, paying them back for the rent and tuition they had covered during his early years in New York. WeWork employees could only roll their eyes when Adam and Rebekah spoke about their embrace of the sharing economy and lack of interest in material wealth. “We believe in this new ‘asset-light lifestyle,’” Rebekah told one interviewer, at a time when the Neumanns owned five homes. “We want to live off of the land. I’m like a real hippie.” WeWork’s 2017 Halloween party had another apt theme: The Great Gatsby.


pages: 303 words: 100,516

Billion Dollar Loser: The Epic Rise and Spectacular Fall of Adam Neumann and WeWork by Reeves Wiedeman

Adam Neumann (WeWork), Airbnb, barriers to entry, Burning Man, call centre, carbon footprint, coronavirus, corporate governance, Covid-19, COVID-19, cryptocurrency, Donald Trump, dumpster diving, East Village, eat what you kill, Elon Musk, fear of failure, Gordon Gekko, housing crisis, index fund, Jeff Bezos, Lyft, margin call, Mark Zuckerberg, Maui Hawaii, medical residency, Menlo Park, mortgage debt, Network effects, new economy, prosperity theology / prosperity gospel / gospel of success, ride hailing / ride sharing, Sand Hill Road, sharing economy, Silicon Valley, Silicon Valley startup, Skype, Snapchat, software as a service, sovereign wealth fund, starchitect, stealth mode startup, Steve Jobs, Steve Wozniak, the High Line, Tim Cook: Apple, too big to fail, Travis Kalanick, Uber for X, uber lyft, WeWork, zero-sum game

Investors wanted to believe Adam could fulfill his vision, and at least some of their faith seemed to rest on an expectation that he could convince the next person to kick in even more—the greater fool theory of finance. When Adam approached tech investors, he emphasized the money that could be made in real estate; to more traditional financiers, he talked about the promise of WeWork’s technology. Around 2015, Adam came up with a new pitch: WeWork was a “community company,” part of the sharing economy, with hallways that were designed to be as narrow as possible not because doing so allowed WeWork to squeeze in more paying tenants, but in order to force members to connect. In early 2015, just a few months after WeWork’s Series D, its finance team started approaching investors about another injection of capital that would allow the company to keep up with its escalating costs.

“For a very spiritual country—and I can definitely tell you this is the most spiritual country in the world—I’m surprised a little bit from the amount of talk I heard about valuation and raising money and bubbles.” The crowd laughed nervously. Adam insisted this wasn’t what he was after. He believed that India’s budding democracy and growing economy embodied an idea he had been talking about with increasing frequency: the “We Generation,” an ageless demographic defined by a faith in the sharing economy and a belief that doing well could come from doing good. “I swear to you success will follow; the money will follow,” Adam said. “And you will change the world⁠.” On his last night in India, Adam met Masa at a bar on the top floor of a building in New Delhi. The meeting had been arranged by Nikesh Arora, Masa’s top deputy at SoftBank, who had previously spurned WeWork as a potential investment.

At the end of 2017, Adam and Rebekah spent $35 million to buy four apartments in a single Gramercy building, combining three of the units into a mega penthouse. Adam bought homes for his sister and grandmother, paying them back for the rent and tuition they had covered during his early years in New York. WeWork employees could only roll their eyes when Adam and Rebekah spoke about their embrace of the sharing economy and lack of interest in material wealth. “We believe in this new ‘asset-light lifestyle,’” Rebekah told one interviewer, at a time when the Neumanns owned five homes. “We want to live off of the land. I’m like a real hippie.” WeWork’s 2017 Halloween party had another apt theme: The Great Gatsby.


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

It can create entirely new businesses—particularly if, like CLP, you are sophisticated enough to see how the world is changing before others do. 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.


pages: 349 words: 102,827

The Infinite Machine: How an Army of Crypto-Hackers Is Building the Next Internet With Ethereum by Camila Russo

4chan, Airbnb, algorithmic trading, altcoin, always be closing, Any sufficiently advanced technology is indistinguishable from magic, Asian financial crisis, bitcoin, blockchain, Burning Man, crowdsourcing, cryptocurrency, distributed ledger, diversification, Dogecoin, Donald Trump, East Village, Ethereum, ethereum blockchain, Flash crash, Google Glasses, Google Hangouts, hacker house, Internet of things, Mark Zuckerberg, Maui Hawaii, mobile money, new economy, peer-to-peer, Peter Thiel, pets.com, Ponzi scheme, prediction markets, QR code, reserve currency, RFC: Request For Comment, Richard Stallman, Robert Shiller, Robert Shiller, Sand Hill Road, Satoshi Nakamoto, semantic web, sharing economy, side project, Silicon Valley, Skype, slashdot, smart contracts, South of Market, San Francisco, the payments system, too big to fail, tulip mania, Turing complete, Uber for X

Williams, and Stephanie Alexander, “Augur: A Decentralized Oracle and Prediction Market Platform (v2.0),” November 1, 2019, https://www.augur.net/whitepaper.pdf. 2. he wrote on GitHub: Vitalik Buterin, “Standardized_Contract_APIs,” GitHub, June 23, 2015, https://github.com/ethereum/wiki/wiki/Standardized_Contract_APIs/499c882f3ec123537fc2fccd57eaa29e6032fe4a. 3. with their thoughts: Alex Van de Sande, “Let's talk about the coin standard,” Reddit, 2015, https://www.reddit.com/r/ethereum/comments/3n8fkn/lets_talk_about_the_coin_standard/. 4. issue being discussed: Fabian Vogelsteller, “ERC: Token standard #20,” GitHub, November 19, 2015, https://github.com/ethereum/EIPs/issues/20. 5. ended up implementing: Rune Christensen, “Introducing eDollar, the ultimate stablecoin built on Ethereum,” Reddit, 2015, https://www.reddit.com/r/ethereum/comments/30f98i/introducing_edollar_the_ultimate_stablecoin_built/. 6. companies to build on: Jeff Wilcke, “Homestead Release,” Ethereum Foundation Blog, February 29, 2016, https://blog.ethereum.org/2016/02/29/homestead-release/. 7. world had Ethereum: Gavin Andresen, “Bit-thereum,” GavinTech (blog), June 9, 2014, http://gavintech.blogspot.com/2014/06/bit-thereum.html. 19: The Magic Lock 1. Slock.it’s blog posts: Slock.it, “Decentralizing the Emerging Sharing Economy,” Medium, Slock.it Blog, December 2, 2015, https://blog.slock.it/slock-it-decentralizing-the-emerging-sharing-economy-cf19ce09b957?c=20150901_vision%22%20%5Cl%20%220_blog. 2. automating governance rules: Christoph Jentzsch, “Decentralized Autonomous Organization to Automate Governance, Final Draft—Under Review,” 2016, https://web.archive.org/web/20180913233456/https://download.slock.it/public/DAO/WhitePaper.pdf. 20: The DAO Wars 1. a blog post about it: Peter Vessenes, “More Ethereum Attacks: Race-to-Empty Is the Real Deal,” Vessenes (blog), June 9, 2016, https://vessenes.com/more-ethereum-attacks-race-to-empty-is-the-real-deal/. 2.

Christoph Jentzsch, a German theoretical physicist, had been working on testing and checking the compatibility among the different Ethereum clients. Christoph was known for being very good at his job, obsessive and meticulous, so when he jumped into a new venture, people paid attention. “With Uber, Airbnb, and others leading the way, we have to ask ourselves, ‘Is this how we want to build the sharing economy?’ Monopolistic companies that take extraordinary fees and have full control of the market?” said one of Slock.it’s blog posts.1 Slock.it cofounders, including Jentzsch’s brother, wanted to make it possible for people to rent, sell, and share their property without having to use intermediaries.


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Investing to Save the Planet: How Your Money Can Make a Difference by Alice Ross

activist fund / activist shareholder / activist investor, barriers to entry, British Empire, carbon footprint, clean water, cleantech, coronavirus, corporate governance, Covid-19, COVID-19, creative destruction, decarbonisation, diversification, Elon Musk, energy transition, family office, food miles, global pandemic, Goldman Sachs: Vampire Squid, high net worth, hiring and firing, impact investing, Intergovernmental Panel on Climate Change (IPCC), Jeff Bezos, Lyft, off grid, oil shock, passive investing, Peter Thiel, precision agriculture, risk tolerance, risk/return, sharing economy, Silicon Valley, sovereign wealth fund, Tragedy of the Commons, uber lyft

One of the top holdings in the Impax Environmental Markets fund is DS Smith, a FTSE 100-listed packaging company in the UK that has been expanding in the US, developing environmentally friendly packaging solutions and using recycled paper and cardboard to make new packaging. Companies like this can also help address the issue of so-called scope 3 emissions, which take into account emissions indirectly caused by a company through their supply chain. The sharing economy is also part of the circular-economy movement: the emphasis being on consumers owning fewer things and instead renting or sharing. Lift-sharing services like Uber or Lyft are one obvious example, while in China, start-up YCloset, which allows users to rent clothes and jewellery, attracted investment from Chinese technology giant Alibaba in 2018.

Morgan 82, 86, 88, 188, 189 Just 147–8 Kellogg Company 83, 155, 161–2 Kingspan 170 Kiverdi 159 Kleiner Perkins 114, 152 Kleinman, Gabe 135–6 Korteweg, Jaap 153 L&G Future World ESG UK Index 9 Legal & General Investment Management (LGIM) 60–61, 74, 88, 98; Climate Impact Pledge report (2018) 61 lending/loans 66, 67, 73, 82, 83, 118–20, 194, 195 Lenzing 173 Lewis, Michael 11, 180, 181, 186 Lightsource Renewable Energy 116 Lilac 137 London Stock Exchange 25, 56 Looney, Bernard 116, 199 low carbon funds 42, 62, 63, 68, 85, 86, 106 Luke, Horace 127–9 Maersk 76 Make My Money Matter movement 40–41, 201 Mallinda 168 Malta (energy company) 121 Maple Leaf 154 Marks & Spencer 69, 71–2 McDonald’s McVegan burger 151 McKinsey 63–4, 128, 202 meat, alternative 7, 10, 15, 18, 22, 35, 36, 149–66 methane 109, 113, 159, 175 micromobility 127–9 Microsoft 7, 19, 62–3, 91, 127, 197 Mintel 150–51 mis-selling 11–12, 101, 193 MIT (Massachusetts Institute of Technology) 114, 122 Mitsui 148 Mizuno, Hiro 93 mopeds, electric 127, 128 Morgan Creek Capital Management 35, 152 Morgan Stanley 79, 181, 200 Morningstar 6, 11, 41, 42, 62, 85, 103, 105, 124, 125, 197–8 Mosaic 118–20 MSCI World Index 2, 30, 97, 97n, 100–101, 102, 103, 104, 184, 185, 191 Musk, Elon 15, 119, 132 mutual funds 30, 62, 143, 161 Nest (workplace pension scheme) 91 Nestlé 76, 155, 177 Netflix 157 New Energy Investment Trust 25–6 New York City 47, 173 next-gen investors 170–71 Northvolt 137 Nutmeg 99–102 nutrition fund 161 NXP Semiconductors 143, 166 Obvious Ventures 135–6, 152 oil and gas companies 7, 9, 16–17, 125, 134, 199, 203; alternative energy investment 4, 78, 83, 85, 107–13, 115–20, 140, 142, 154, 187, 196; banks and 82, 188, 194; Big Oil 4, 53, 55, 113, 115, 116–17, 126; billionaires and 16–17; Climate Leadership Council and 188–9; divestment and 45–7, 50, 51, 52–3, 54, 55–6, 59, 61, 62, 66, 68; greenwashing and 78–9, 101, 191–2; lending to 82; liquidity of shares 59; ‘net zero’ pledges 5, 71, 76, 78, 79–80, 116, 126, 186; oil prices 55, 56, 138, 189, 197; public shaming of 60; scope 3 emissions and 185, 186; subsidies 182; transitioning away from/energy transition 19, 21, 36, 39, 76, 84, 107–20, 123; value traps 59 Olympics (2020) 137 ON Semiconductor 166, 167 Oppenheim, Jeremy 63–5, 93, 142, 190, 194 Orsted 108, 125, 137, 154 ‘overweight’ equities 31 palm oil 141, 191 Paris Agreement (2015) 4–5, 10, 42, 73, 74–5, 76, 78, 109, 111, 117, 132, 165, 188, 193 Parish, Billy 118–20 Parr, Adam 38–9 passive funds 30, 31, 41, 74, 96–104 Patagonia 175, 176 PCAF (Partnership for Carbon Accounting Financials) 186–7 pension funds ix, 4, 7, 13, 20, 39–41, 44, 46, 54, 58, 59, 61, 67, 74, 76, 88, 92, 93, 98, 105, 122, 137, 140, 180, 181, 184, 185, 195; putting pressure on your pension manager 90–93 PetroChina 76 PG&E 58 Philip Morris 177 Philips 82 Pictet Clean Energy fund 125, 138, 143, 161, 166–7 Pod Point 140 Poulsen, Henrik 108 Prime Coalition 123, 168, 170 Pritzker Simmons, Liesel 170, 171, 182 private equity 3, 20, 34–7, 41, 44, 121, 124, 139, 140, 144, 174, 178–9 Procter & Gamble 174 Proterra 135 Provera, Nino Tronchetti 35 public shaming 60, 61–2 Purcell, James 66, 163–4 Quakers 48, 54 Quantum Energy Partners 140 QuantumScape 137 Quidnet Energy 121, 123 Quigley, Dr Ellen 65–6, 67, 74–5 recycling 15, 24–5, 28, 33, 51, 66, 82, 159, 166, 168, 171–2, 173–4, 175, 176, 184 RE100 initiative 86–7 renewable energy see individual type of renewable energy retail investors 3, 7, 8, 13, 31, 34, 36, 39, 61, 66, 73, 74, 77, 84, 90, 93, 95, 96, 101, 104, 195 Richemont 11 risk 4, 6, 7; agriculture and levels of 161–2; angel investing and 37–8; bonds and 33, 34; disclosure of 58, 80–84, 88, 190–91, 199; energy efficiency and 171, 178–9; energy solutions and 122, 124, 125, 126; equities and 31, 32; ESG/climate change risk 8, 13, 16, 17, 55–9, 62, 63, 81, 89, 93, 103, 178, 180, 181–2, 183, 184, 185–7, 189–91, 192, 193, 194, 195, 197, 199; high-risk investors 126, 144, 162, 178–9; low-risk investors 126, 143, 161, 178; measurement of carbon risk 57–8, 62, 63, 81, 84, 103, 178, 181, 185, 186, 189, 190–91, 193; medium-risk investors 126, 143–4, 161–2, 178; private equity 34, 35; regulation and 130; risk appetite 20, 22, 26, 125, 138; spreading 54, 84, 94; transport and 130, 138, 143–4; understanding 24–30 Risley, John 142 RobecoSAM Sustainable Food Equities fund 161 Roessing, Christian 125, 138, 166–8 Royal Ahrend 173 Royal DSM 173 Royal Dutch Shell 4, 5, 49, 50, 53, 55, 69–71, 72, 76, 78, 108, 115, 116, 117, 142, 186 S&P 31, 196; Global Clean Energy index 124–5, 197 Samsung 115, 143 Sarasin & Partners 75, 77, 90, 161 Schroders 49, 73–4, 134, 143, 144, 189–90 SCM Direct 9, 103 scope 3 emissions 81, 175, 176, 185–7 semiconductor companies 143, 166–7, 178 shale gas extraction 53, 79 ShareAction 33, 67, 73, 75, 78, 87–9, 104, 192 share prices 31, 50–51, 53, 56, 59, 60, 61, 65, 75, 132, 138, 154, 199 sharing economy 175 shipping 76, 96, 143, 158 Siam Cement 83 Siemens 90, 103, 125; Gamesa Renewable Energy 103, 125 Silicon Ranch 116 socially responsible investing (SRI) 8, 9, 47–50, 56, 73, 75, 99, 100–102, 123, 147, 200 SolarCity 119 SolarEdge Technologies 125 solar energy 3, 4, 21, 79, 110, 111, 113–14, 115, 116, 117, 118–21, 125, 131, 134, 138, 167 solar loans to homeowners 118–20 Sonnen 115–16 Soros, George 18 sovereign wealth funds 74, 122, 148 SSE 125 standards, global sustainability 190–96 start-ups 15, 18, 27, 36–7, 64, 114, 115, 122, 126, 128, 131, 137, 138, 139, 140, 142, 144, 146, 152, 153, 155–6, 157, 158, 160, 162, 166, 168, 170, 175, 179 subsidies 3, 114, 115, 131, 182, 201 Sustainability Accounting Standards Board 190 Sustainalytics 62, 82, 104 Swarthmore College, Pennsylvania 45 Systemiq 64, 93, 142, 190, 194 Systrom, Nicole 123, 124 Taskforce for Climate-Related Financial Disclosures (TCFD) 58, 88, 190–91, 199 TCI (activist hedge fund) 13–14 Teekay Shuttle Tankers 96 Temasek 148 Terramera 158 Tesla 7, 15, 103, 115, 119, 132–3, 134, 157, 163 Tetrick, Josh 145–8 Thiel, Peter 148 350.org 46, 82 Thunberg, Greta 6 Timberland 172 tobacco holdings 3, 8, 9, 40, 47, 49, 51–2, 54, 101, 103, 177 Tomra Systems 165–6 Too Good to Go 160 Total 76, 117 Toyota 15, 137, 140, 143 Trafigura 138 ‘tragedy of the horizon’ 193–4 transport 7, 21–2, 33, 85, 120, 125, 127–44, 148, 149, 153, 157, 160, 165, 167, 172; battery, role of 136–8; biofuels and aviation 140–43; electrification of 129–40; high-risk investors 144; Horace Luke/electric mopeds 127–9; infrastructure 138–40; low-risk investors 143; medium-risk investors 143–4; shipping 143; venture capitalist firms and 135–6 Treau 170 trees, planting 5, 28, 79, 150, 203 Trimble Navigation 157 Triodos Investment Management 90, 102–3, 187 T.


pages: 164 words: 57,068

The Second Curve: Thoughts on Reinventing Society by Charles Handy

"Robert Solow", Airbnb, basic income, Bernie Madoff, bitcoin, bonus culture, British Empire, call centre, Clayton Christensen, corporate governance, delayed gratification, Diane Coyle, disruptive innovation, Edward Snowden, falling living standards, future of work, G4S, greed is good, independent contractor, informal economy, Internet of things, invisible hand, joint-stock company, joint-stock limited liability company, Kickstarter, Kodak vs Instagram, late capitalism, mass immigration, megacity, mittelstand, Occupy movement, payday loans, peer-to-peer lending, Plutocrats, plutocrats, Ponzi scheme, Ronald Coase, shareholder value, sharing economy, Skype, Social Responsibility of Business Is to Increase Its Profits, Stanford marshmallow experiment, Steve Jobs, The Wealth of Nations by Adam Smith, Thorstein Veblen, too big to fail, transaction costs, Veblen good, Walter Mischel

Everything you can do as a customer you can also do as a supplier, even write your own computer game if you so wish. You can sell a seat in your car, a meal in your home, a parking space outside your house, a loan of your bicycle, even time with your dog, along with limitless other services in the newly christened ‘sharing economy’. This new fashion is just one more example of the excluded middle, allowing you as an individual to bypass the conventional suppliers of these services by doing it yourself on the web. It is big business for some. By April 2014 Airbnb was valued by investors at $10 billion, bigger than Hyatt or the Intercontinental hotel groups, while the homeowners each earned an average of $7,530 in 2013 by renting out their rooms.

Employment will drop a bit, particularly in the domestic service sector. The capital goods sector may improve, although much of it will probably be imported. More people will shrink back into their homes rather than go out on the town. Our homes will increasingly become work hubs as we start to exploit all the opportunities of the new DIY and sharing economies. The worrying thought is that we will see less of other people except on the screens of our phones or computers, even if we work in some sort of organisation. It is this aspect of the DIY Second Curve that I will explore in the next essay, because we are all going to have to find our way up this curve, whether we like it or not.


pages: 215 words: 55,212

The Mesh: Why the Future of Business Is Sharing by Lisa Gansky

Airbnb, Amazon Mechanical Turk, Amazon Web Services, banking crisis, barriers to entry, Bear Stearns, carbon footprint, Chuck Templeton: OpenTable:, cloud computing, credit crunch, crowdsourcing, diversification, Firefox, fixed income, Google Earth, impact investing, industrial cluster, Internet of things, Joi Ito, Kickstarter, late fees, Network effects, new economy, peer-to-peer lending, recommendation engine, RFID, Richard Florida, Richard Thaler, ride hailing / ride sharing, sharing economy, Silicon Valley, smart grid, social web, software as a service, TaskRabbit, the built environment, walkable city, yield management, young professional, Zipcar

—PETER SCHWARTZ, futurist; cofounder and chairman, GBN, and partner in the monitor group “In this timely and extremely practical book, Gansky not only gives dozens of examples of sharing companies disrupting the status quo and experiencing exponential growth, but she also talks about why they’re successful—what it means to be a Mesh business and what you have to do to thrive as the world moves to a share economy.” —JOHN LILLY, CEO, Mozilla “Lisa Gansky has uncovered a revolution that even most of its perpetrators didn’t know existed. It’s a brave new marketplace, where consumers rule and business models are turned topsy-turvy. Where innovation and inspiration collide to create greener, cooler products and services that are high in value and values.

Firefox’s intellectual property is held under a special type of open-source license. The code, developed by community and incorporated into Firefox, continues to be held by those members, who in return grant access to Mozilla to embed and use it. This “communal IP,” as I call it, is a wonderful example of the share economy ethos that was, and hopefully will remain, at the core of the Internet. Mozilla, Creative Commons, Wikipedia, and Architecture for Humanity remain strong embodiments of that ethos. The result is continuously organic improvement of the Web experience for all. These open communities and platforms are a terrific demonstration of the culture of gifting and generosity that fueled the “Web economy” in the mid-1990s.


pages: 196 words: 55,862

Riding for Deliveroo: Resistance in the New Economy by Callum Cant

Airbnb, call centre, collective bargaining, deskilling, Elon Musk, future of work, gig economy, housing crisis, illegal immigration, independent contractor, information asymmetry, invention of the steam engine, Mark Zuckerberg, means of production, new economy, Pearl River Delta, race to the bottom, ride hailing / ride sharing, sharing economy, Silicon Valley, strikebreaker, union organizing, Winter of Discontent, women in the workforce

They can stop working for any one capitalist and go and get another job, but they can never stop working for the capitalist class altogether. You work and are exploited to make your boss rich, or you starve – some ‘freedom’.5 It’s not unusual to hear pundits argue that people who understand class as Marx did are living in the past. In the new ‘sharing economy’, everyone is a winner, they say. But that same struggle between workers and bosses that has defined the last two centuries of our history still defines it today. Society is still predominantly divided into two camps: that small group of people who live off the value produced by others, and that big group of people whose only choice is to work or starve.

Brighton and Hove City Council (2010) Housing costs update Quarter 4 2010. www.brighton-hove.gov.uk/sites/brighton-hove.gov.uk/files/2010%20%284%29%20Housing%20Costs%20%28Oct-Dec%29.pdf; Brighton and Hove City Council (2017) Brighton & Hove housing market report Quarter 4 2017. www.brighton-hove.gov.uk/sites/brighton-hove.gov.uk/files/2017%20%284%29%20Housing%20Market%20Report%20%28Oct-Dec%29.pdf. 3. F. Kooti, M. Grbovic, L. M. Aiello, N. Djuric, V. Radosavljevic, and K. Lerman (2017) Analyzing Uber’s ride-sharing economy, in Proceedings of the 26th International Conference, ACM Press. 4. K. Bryan (2019) Deliveroo and Uber Eats takeaway riders rent jobs to ‘illegal immigrants’. The Times. www.thetimes.co.uk/article/deliveroo-and-uber-eats-takeaway-riders-rent-jobs-to-illegal-immigrants-ml36gvp93. 5. M. Perry (2000) Bread and work: social policy and the experience of unemployment, 1918–39.


pages: 206 words: 60,587

Side Hustle: From Idea to Income in 27 Days by Chris Guillebeau

"side hustle", Airbnb, buy low sell high, inventory management, Lyft, passive income, ride hailing / ride sharing, sharing economy, side project, Silicon Valley, Silicon Valley startup, subscription business, TaskRabbit, the scientific method, Uber for X, uber lyft

You just need a napkin, a pen, and the power of observation. There’s a sharing economy service or app for everything these days. You can get paid to lend a set of tools to a neighbor you’ve never met. You can invest in a crowdfunding project led by strangers on a different continent. And now, several services let you rent out your car by the hour, day, or week to someone who needs it. If you have a car that you don’t drive every day, it’s one of the easiest ways to make some extra cash. In Los Angeles, Tahsir Ahsan took this hustle idea several steps further. After creating an account with Turo, one of the sharing economy services that operates as a middleman between renters and car owners, he quickly learned how to optimize his price and listing details to bring him just about as much business as he could handle.


pages: 230 words: 61,702

The Internet of Us: Knowing More and Understanding Less in the Age of Big Data by Michael P. Lynch

Affordable Care Act / Obamacare, Amazon Mechanical Turk, big data - Walmart - Pop Tarts, bitcoin, Cass Sunstein, Claude Shannon: information theory, crowdsourcing, Edward Snowden, Firefox, Google Glasses, hive mind, income inequality, Internet of things, John von Neumann, meta-analysis, Nate Silver, new economy, Panopticon Jeremy Bentham, patient HM, prediction markets, RFID, sharing economy, Steve Jobs, Steven Levy, the scientific method, The Wisdom of Crowds, Thomas Kuhn: the structure of scientific revolutions, WikiLeaks

We are instead, Rifkin suggests, seeing the rise of the Collaborative Commons: The IoT [the Internet of Things] enables billions of people to engage in peer-to-peer social networks and cocreate the many new economic opportunities and practices that constitute life on the emerging Collaborative Commons. That platform turns everyone into a prosumer and every activity into a collaboration … allowing social capital to flourish on an unprecedented scale, making a shared economy possible.5 As a result, Rifkin argues, the Internet of Things and the networked nature of our digital form of life are moving us toward “the zero marginal cost society.” In turn, that challenges the central capitalist tenet, that increased human productivity requires increased human labor. “The traditional dream of rags to riches is being supplanted by a new dream of sustainable quality of life”—a life where we can spend more time engaged in pursuits that interest us, such as making music, cooking better food and thinking about philosophy.6 Rifkin thinks the same revolution is happening at the level of knowledge—perhaps especially there, since the wide availability of knowledge is the fuel powering the rest of our economy.

., 173–74 hypothetical loss of, 5 paradox of, 6, 12, 179 pool of data in, 95–100 surveillance and, 89–109 typified and dephysicalized objects in, 69 unequal distribution of, 144–45 see also Internet of Things information theory, 12 infosphere: defined, 10 feedback loop of social constructs in, 72–73 network of, 180 pollution of, 148 vastness of, 128 InnoCentive, 136–37, 141 institutions, cooperative, 60–61 intellectual labor, 139–40 International Telecommunications Union, 135 Internet: author’s experiment in circumventing, 21–24, 25, 35 in challenges to reasonableness, 41–63 changes wrought by, xv–xviii, 6–7, 10–11, 23, 180, 184–88 as a construction, 69 cost and profit debate over, 145 as epistemic resource, 143–45 expectations of, 80–83 as force for cohesion and democracy, 55–63 freedom both limited and enhanced by, 92–93 international rates of access to, 135, 144–45 monopolization and hegemony in, 145–46 as network, 111–13 “third wave” of, 7 see also World Wide Web; specific applications Internet of Everything, 184 Internet of Things: blurring of online and offline in, 71 defined, 7–8 integration of, 10 shared economy in, 140–41 threat from, 107, 153, 184–88 Internet of Us, digital form of life as, 10, 39, 73, 83–86, 106, 179–88 interracial marriage, 54 interrogation techniques, 105 In the Plex (Levy), 5–6 Intrade, 122–23, 136 intuition, 15, 51–53 iPhone, production of, 77–78, 80, 139, 144 IQ, 52 Iraq, 83 Iraq War, 137 ISIS, 128 isolation, polarization and, 42–43 I think, I exist, 127 James, William, 11 Jefferson, Thomas, 143 Jeppesen, Lars Bo, 137 joint commitments, defined, 117–18 journalism, truth and, 84 judgment, 51–55, 57 collective vs. individual, 117, 120–25 justice, 54 “just so” stories, 27–28 Kahneman, Daniel, 29, 51 Kant, Immanuel, 34, 58–60, 62, 85 Kitcher, Philip, 182 knowing-which, as term, 171 knowledge: in big data revolution, 87–190 changing structure of, 125–32 common, 117–19 defined and explained, xvii, 12–17 democratization of, 133–38 digital, see digital knowledge; Google-knowing distribution of, 134–35, 138, 141 diverse forms of, 130 economy of, 138–45 hyperconnectivity of, 184–88 individual vs. aggregate, 120–24 information vs., 14 Internet revolution in, xv–xviii minimal definition of, 14–15 as networked, 111–32 new aspects in old problems of, 1–86, 90 personal observation in, 33–35 political economy of, 133–54 as power, 9, 98–99, 133, 185–86 practical vs. theoretical, 169, 172 procedural, 167–74 recording and storage of, 127–28 reliability of sources of, 14, 27–31, 39–40, 44–45, 114–16 as a resource, 38–39 shared cognitive process in attainment of, 114–25 three forms of, 15–17 three simple points about, 14–17 truth and, 19, 126 understanding vs. other forms of, 6, 16–17, 90, 154, 155–73, 181 value and importance of, 12–13 knowledge-based education, 61 Kodak camera, 89 Koran, 48, 61 Kornblith, Hilary, 194 Krakauer, John, 169 Kuhn, Thomas, 159–60 Lakhani, Karim, 137 Larissa, Greece, 13, 15, 182 Leonhardt, David, 122–23 Levy, Steven, 5–6 liberals, 43 libraries, 22, 134, 153–54 of Alexandria, 8 digital form of life compared to, xvi, 17, 20, 44–45, 56, 63, 128 as epistemic resource, 145 Google treated as, 24 “Library of Babel” (Borges), 17 “Lies, Damned Lies, and ‘Fact-Checking’: The Liberal Media’s Latest Attempt to Control the Discourse” (Hemingway), 46 Lifespan of a Fact, The (D’Agata), 79 literacy, 35, 134 literal artifacts: defined, 69 social artifacts and, 71, 72 lobectomy, 168 Locke, John, 33–36, 39, 60, 67–70, 85, 127, 143 “Locke’s command,” 33–34 London Underground, mapping of, 112–13 machines, control by, 116 “mainstream” media, 32 censorship of, 66 majority rule, 120 manipulation: data mining and, 97, 104–6 of expectations, 80–82 persuasion and, 55, 57–58, 81–83, 86 manuals, 22 manufacturing, 138–39 maps, 21–22 marine chronometer, 137 marketing: bots in, 82 Glauconian, 58 targeted, 9, 90, 91, 105 marriage: changing attitudes toward, 53–54 civil vs. religious, 58–59 as social construct, 72 martial arts, 170 mass, as primary quality, 68 Massive Open Online Courses (MOOCs), 150–53 mathematics, in data analysis, 160, 161 Matrix, The, 18–19, 75 Mayer-Schönberger, Viktor, 8, 158–59 measles vaccine, 7, 124 Mechanical Turk, 136, 141 media, 134 diversity in, 42 opinion affected by, 53 sensationalist, 77 memory: accessing of, 114, 115 in educational models, 152 loss of, 168–69 superceded by information technology, xv–xvi, 3, 4, 6, 94, 149 trust in, 28, 33 Meno, 13 merchandising, online vs. brick and mortar, 70 Mercier, Hugo, 54 metrics, 112 Milner, Brenda, 168–69 mirror drawing experiment, 169 misinformation, 6–7, 31–32 in support of moral truth, 78–80, 82 mob mentality, 32–33 MOOCs (Massive Open Online Courses), 150–53 moral dumbfounding, 52 morality, moral values, xvii, 6, 44, 53–54, 195 “Moses Illusion,” 29–30 motor acuity, mastery of, 170–71, 173 motor skills, 167–74 Murray, Charles J., 147 music, as dephysicalized object, 69–70 Nagel, Thomas, 84 naming, identification by, 94 narrative license, truth and falsehood in, 78–79 National Endowment for the Humanities, 61 National Science Foundation, 61 Nature, 158, 161 Netflix, 69, 145 Net neutrality, defined, 145 netography, 112–13 of knowledge, 125–32 networked age, 111 networks, 111–32 collective knowledge of, 116–25, 180 knowledge reshaped and altered by, 125–32, 133, 140 in problem solving, 136 use of term, 111–12 neural system, 26 neural transplants, 3, 5 Neurath, Otto, 128–29 neuromedia, 3–5, 12, 17–19, 113–14, 132, 149, 168, 180–82, 184 limitations of, 174 as threat to education, 153–54 Newton, Isaac, 175 New Yorker, 25, 26 New York Times, 122, 174 Nietzsche, Friedrich, 111 Nobel laureates, 149 noble lie, 83, 86 nonfiction, 79–80 NPR, 78, 80 NSA: alleged privacy abuses by, 98–100, 138 data mining by, 9, 91, 95–96, 108, 167 proposed limitations on, 109 Ntrepid, 81 nuclear weapons technology, xvii nullius in verba (take nobody’s word for it), 34 Obama, Barack, 7, 100 administration, 109 objectivity, objective truth, 45, 74 as anchor for belief, 131 in constructed world, 83–86 as foundation for knowledge, 127 observation, 49, 60 affected by expectations, 159–60 behavior affected by, 91, 97 “oceanic feeling,” 184 “offlife,” 70 OkCupid, 157 “onlife,” 70 online identity creation, 73–74 online ranking, 119–21, 136 open access research sharing sites, 135–36 open society: closed politics vs., 144–45 values of, 41–43, 62 open source software, 135 Operation Earnest Voice, 81 Operation Ivy, ix opinion: knowledge vs., 13, 14, 126 in online ranking, 119–20 persuasion and, 50–51 truth as constructed by, 85–86 optical illusions, 67 Oracle of Delphi, 16–17, 171 Outcome-Based Education (OBE), 61–62 ownership, changing concept of, 73 ox, experiment on weight of, 120 Oxford, 168 Page, Larry, 5–6 Panopticon, 91, 92, 97 perception: acuity of, 173 distinguishing truth in, 67–74 expectations and, 159–60 misleading, 29–30, 67 as relative, 67–68 perceptual incongruity, 159–60 personal freedom, 101 persuasion, 50–51, 54–55, 56–58 by bots, 82 phone books, 22 phone data collection, 95, 108 photography: privacy and, 89, 93 sexually-explicit, 99 photo-sharing, manipulation in, 82–83 Plato, 13–14, 16–17, 54, 59, 83, 126, 165–67 polarization, 7 herd mentality in, 66 isolated tribes in, 43–46 politics, 162, 196 accessibility in, 23 activism in, 66, 67 bias in, 43–46 closed, 144–45 elections in, 120–23 of knowledge, 133–54 opposition to critical thinking in, 61–62 persuasion in, 57–58, 82–83 power in, 86, 133 prediction market in, 122–23 Politifact, 46 Popper, Karl, 41–43 Postman, L.


pages: 254 words: 69,276

The Metric Society: On the Quantification of the Social by Steffen Mau

Airbnb, cognitive bias, collaborative consumption, connected car, crowdsourcing, double entry bookkeeping, future of work, income inequality, informal economy, invisible hand, knowledge economy, labour market flexibility, lifelogging, Mark Zuckerberg, mittelstand, moral hazard, personalized medicine, positional goods, principal–agent problem, profit motive, QR code, reserve currency, school choice, selection bias, sharing economy, smart cities, the scientific method, the strength of weak ties, Uber for X, web of trust, Wolfgang Streeck

A further classification is denoted by colour (up to 9,999 points), after which the stars become shooting stars. Those with the highest market reputation (more than a million positive ratings) are distinguished with a silver shooting star. It will come as no surprise that even portals which surround themselves with an aura of freedom, community and independence and are regarded as part of the sharing economy, such as Airbnb or Couchsurfing (‘Stay with locals and make travel friends’), are not averse to the use of ratings (Hamari et al. 2015; Lauterbach et al. 2009). On the contrary, these brokering systems would be unlikely to survive without the systematic recording and communication of reputational data, given that the interacting parties enter into a transaction with no knowledge of each other – a potentially high-risk proposition, especially when entrusting someone with your own four walls.

Haas, Peter M. (1992) ‘Introduction: epistemic communities and international policy coordination’, International Organizations 46/1 (pp. 1-35). Habermas, Jürgen (2007) The Theory of Communicative Action, 2 vols., trans. Thomas McCarthy, Cambridge: Polity. Haffert, Lukas (2016) Die Schwarze Null. Über die Schattenseiten ausgeglichener Haushalte, Berlin: Suhrkamp. Hamari, Juho, Mimmi Sjöklint and Antti Ukkonen (2015) ‘The sharing economy: why people participate in collaborative consumption’, Journal of the Association for Information Science and Technology 67/9 (pp. 2047-59). Han, Byung-Chul (2015) The Burnout Society, trans. Erik Butler, Stanford Briefs, an imprint of Stanford University Press. Han, Byung-Chul (2017) Psychopolitics: Neoliberalism and New Technologies of Power, trans.


Work in the Future The Automation Revolution-Palgrave MacMillan (2019) by Robert Skidelsky Nan Craig

3D printing, Airbnb, algorithmic trading, Amazon Web Services, anti-work, artificial general intelligence, autonomous vehicles, basic income, business cycle, cloud computing, collective bargaining, correlation does not imply causation, creative destruction, data is the new oil, David Graeber, David Ricardo: comparative advantage, deindustrialization, deskilling, disintermediation, Donald Trump, Erik Brynjolfsson, feminist movement, Frederick Winslow Taylor, future of work, gig economy, global supply chain, income inequality, independent contractor, informal economy, Internet of things, Jarndyce and Jarndyce, Jarndyce and Jarndyce, job automation, job polarisation, John Maynard Keynes: Economic Possibilities for our Grandchildren, John Maynard Keynes: technological unemployment, John von Neumann, Joseph Schumpeter, knowledge economy, Loebner Prize, low skilled workers, Lyft, Mark Zuckerberg, means of production, moral panic, Network effects, new economy, off grid, pattern recognition, post-work, Ronald Coase, Second Machine Age, self-driving car, sharing economy, Steve Jobs, strong AI, technoutopianism, The Chicago School, The Future of Employment, the market place, The Nature of the Firm, The Wealth of Nations by Adam Smith, Thorstein Veblen, Turing test, Uber for X, uber lyft, universal basic income, wealth creators, working poor

This is exactly what a lot of companies have found when they try to bring high-skilled workers onto an Uberised platform: the workers end up going i­ ndependent 1 Srnicek (2016). 14 Two Myths About the Future of the Economy 135 since it makes more economic sense for them. One of the more prominent examples of this is Homejoy, which was a sort of Uber for home cleaning. It collapsed after many of its cleaners decided to leave the platform, because they could make more money elsewhere.2 Growth in the sharing economy and in these lean platforms tends to be premised not on being profitable right now, but on the promise that at some point in the future they will be profitable. At the current moment, most of these companies are losing significant chunks of money. This is a growth before profit model, which dictates that losses are part of the strategy.

Retrieved from http://www.reuters.com/article/uber-china-idUSKCN0VR1M9 Jovanovic, B., & Rousseau, P. L. (2005). General Purpose Technologies. Working Paper (National Bureau of Economic Research, January 2005). Retrieved from http://www.nber.org/papers/w11093 Kosoff, M. (2017, November 9). Why the ‘Sharing Economy’ Keeps Getting Sued. Vanity Fair. Retrieved from https://www.vanityfair.com/news/2017/11/ postmates-worker-classification-lawsuit Levine, D., & Somerville, H. (2016, May 10). Uber Drivers, If Employees, Owed $730 Million More: US Court Papers. Reuters. Retrieved from http:// www.reuters.com/article/us-uber-tech-drivers-lawsuit-idUSKCN0Y02E8 Somerville, H. (2018, January 19).


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Machine, Platform, Crowd: Harnessing Our Digital Future by Andrew McAfee, Erik Brynjolfsson

"Robert Solow", 3D printing,