the sharing economy and sweden
TRANSCRIPT
The Sharing Economy and
SwedenClaire Ingram
Stockholm School of Economics
Read our report: sharing.claireingram.se
What is the Sharing Economy?Rachel Botsman: “a system that activates the untapped value of all kinds of assets through models and marketplaces that enable greater efficiency and access”
More selling than sharing in Sweden
TNS för Nordea, 31 augusti – 9 september 2015
Seco
nd-h
and
sale
s
Shar
ing
and
Exch
angi
ng
What’s driving it?• Internet access (especialy mobile)• Lower barriers to entry• Ease of financial transactions• Improvements in analytics• Financial crisis• Low wages and job insecurity• Necessity• But also a desire to lead a more sustainable life
Economy, environment of note
TNS för Nordea, 31 augusti – 9 september 2015
Internet access
Statistics from Internet World Statistics, 2015
Mobile internet
Statistics from Google, 2015 & Svenskarna och Internet 2015
How does it work?• Reduces
transaction costs (incl. cost of “finding” a match)
http://sloanreview.mit.edu/article/strategic-decisions-for-multisided-platforms/
• Bargaining costs• Policing and
enforcement costs
Uber AirBnB
Global – but also local
Some examplesAsset Examples Global Swedish
TangibleTransportationPropertyFood
UberBlaBlaCarDidi KuaidiAirBnB
SkjutsgruppenSunFleetHoffice
Intangible: Financial
CrowdfundingP2P lending
KickstarterIndiegogoLendingClubProsperGoFundMe
FundedByMeCrowdcubeToBorrow
Intangible: Services
ProfessionalPersonal
InnocentiveMechanical TurkUpworkTaskRabbit
eWorkVintTaskRunner
And “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/
26 bn USD today 335bn USD in 2025
COLLABORATIVE ECONOMY FRAMEWORK V0.1
LEARNING
p2p learning
open courses & moocs
PRODUCTION
co-design / co-innovation
digital peer production
distributed fabrication (makers)
FINANCE
p2p funding
p2p payments
p2p insurance
compl. currencies
GOVERNANCESWARM
participatory organizations
participatory government
blockchain / DAO
CONSUMPTION
redistribution
local food systems
product-service
on-demand services
http://mashable.com/2013/02/13/robohand/
$60,000
$150
Available for free download on
$45
Also a force for good
It could even finance itself!
Form Benefits for funders
Donation-based Donation Intangible benefits.
Reward-based Donation or pre-purchase
Rewards in addition to intangible benefits.
Equity-based Investment
Return on investment if company does well. Rewards sometimes also offered and intangible benefits may
motivate too.
Debt-based LoanRepayment of loan with interest.
Alternatively intangible benefits if loan given interest-free.
Ingram & Teigland 2013
Crowdfunding growth 2012-2015
34bn USD (est.)
What are the projections?By 2025, global crowdfunding could reach 90 to 96 bn USD 1.8 times today’s global VC industry)
Growth potential greatest in emerging markets? 50bn USD in China by 2025?
Livengood & Ingram 2015
Labour market challenges• More efficient / sustainable use of resources BUT
not really creating many jobs• Those it does create are often insecure and poorly
paid• What is
employment?
Regulatory & Economic challenges• Lots of peer-to-peer contracts – need capacity to deal
with these• What about taxation, security, IP and privacy?
• Is it a race to the bottom?• What are the implications of ”zero marginal cost”?• Reduced consumer spending – effect on growth?• Creation of monopolies• How do we measure it?
Policy concerns• Over-regulation• Flexible job market• Improved efficiency
• Safety concerns• Two-tier labour market• Race to the bottom• Artificial Monopoly
What’s next?
Graphic from: http://www.i-scoop.eu/internet-of-things/
Read our report: sharing.claireingram.se
Thank you for your time!
Claire IngramStockholm School of [email protected]@Claire_EBI