The Sharing Economy------

Hotell & Fastigheter 201t6

Professor Robin Teigland Stockholm School of Economics

robin.teigland@hhs.sewww.slideshare.net/eteigland

@RobinTeigland

May 2016

http://www.slideshare.net/eteigland

Uber• Launched June 2010

• >330 cities in 60 countries • Limited physical assets• USD 60 bln valuation (Ericsson – USD 25 bln)

Exponential growth by “doing more with less”

A system that activates the untapped value of all kinds of assets through

models and marketplaces that enable greater efficiency and access.

- Botsman

The Sharing Economy

Harvard Business Review, 2014

The Sharing Economy: Embracing Change with Cautionhttp://www.slideshare.net/eteigland/sharing-economy-webb

“Sharing” is big business…

http://www.web-strategist.com/blog/2015/06/04/the-collaborative-sharing-economy-has-created-17-billion-dollar-companies-and-10-unicorns/

USD 26 bln today -> USD 335 in 2025

Increasing efforts to regulate the sharing economy

If Uber were to pay drivers as employees in USA

Spawning a new form of capitalism -Modern day sweatshops?Digital Robber Barons?

“Monopoly” platform “Monopoly” platform

“Perfectcompetition”

“Perfectcompetition”

Banking is essential,

but banks are not.

Bill Gates

What is crowdfunding?

Accumulation of small investments in individual projects by large number of

individuals (the “crowd”) via or with help of Internet and social networks (De

Buysere et al., 2012)

Picture: FundedByMe

Local Stockholm success story

Money raised: SEK 36,502

Number of investors: 186

Date funded: September 2011

Sector: Food

Enabling local, small-scale solutions

Top 5 Best American

Restaurants in Europe

http://travel.cnn.com/best-americana-restaurants-europe-023346

Increasing forces for local community

Toborrow.se

Hoffice – a Swedish concept gone global

US: 40% of workforce

freelancers

Spacehop: “Airbnb” for home-office space

Scheveningen Harbor – The Hague

Moving into hardware:A 3D printer workshop on Lisette’s boat

RepRap communityE-commerce

My first attempt at 3D printing – successful!

Microfactories and global 3D printer networks

Enabling circular economies

• Printers printing themselves• Recycling local garbage into filament

Enablers of a “true” Collaborative Economy?

Blockchains and smart contracts

Cryptocurrencies

Sharing/ Collaborative

Economy

IoT/sensors

P2P/M2M micropayments

Big data

The challenge of ensuring trust

1. Trust in the platform2. Trust in the other users

3. Trust in the products and services4. Trust in the financial transactions

Leap of faith when meeting strangers -> Increased trust

in society?

Innovation is forward looking

while regulations are backward

looking.

http://www.weforum.org/sessions/summary/rise-demand-economy

Robin Teiglandrobin.teigland@hhs.se

www.slideshare.net/eteigland@robin.teigland

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Scenarios for 2020

http://www.slideshare.net/eteigland/sharing-economy-webb

Four scenarios for 2020High Tech Adoption

Global Recession

Global Growth

Internet of Space• Differentiated SE platforms

• Attraction of talent• Test market

• Focus on privacy and integrity• Transitioning industries

Freelance Economy• Differentiated SE platforms• High tech skills “exported”• Expansive crowdfunding

• Neo-sharing• “De-urbanization”

Business as Usual• Limited SE platforms

• Neo-sharers• Steady growth in freelancing

• Crowdfunding

Shadow Economy• TaskRunner society• Vast urbanization

• Monopoly SE platforms• Barter economy

Low Tech Adoption