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Collaborative Economy Keynote, at KC Resilient Summit
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Empowered People & Resilient Brands
The Collaborative Economy
By Jeremiah OwyangFeb, 2014
The Collaborative Economy
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Phases of Internet Sharing
The Collaborative Economy
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From Altimeter Research: The Collaborative Economy, 2013, Jeremiah Owyang
What role do corporations playif people get what they need
from each other?
The Collaborative EconomyAn economic model where creation, ownership, and access are shared between people, and corporations.
The Collaborative Economy
Is this a business disruption?
Sharing Is Not New
Lyft
Need to travel…
People Can Tap into Each Other
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Lyft enables crowd to be transportation – avoiding taxis
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AirBnb
Need a place to stay…
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People Can Tap into Each Other
AirBnb Enables Crowd to be a Hotel
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Need to get funded...
LendingClub
People Can Tap into Each Other
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LendingClub enables crowd to be a bank
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oDesk
Need staff…
People Can Tap into Each Other
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oDesk enables crowd to be a workforce
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Feastly
Need to dine…
People Can Tap into Each Other
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Feastly enables your neighbors kitchens to be a restaurant
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Need a place for staff…
LiquidSpace
People Can Tap into Each Other
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Liquidspace enables companies to rent from each other
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Yerdle
Need products and goods…
People Can Tap into Each Other
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Yerdle enables neighbors to gift goods - rather than buy
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Need a Good?
People Can Tap into Each Other
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Make it
White House to host a Maker Faire
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A properly shared car is
$270,000Lost RevenueOf auto sales
(1 shared car = 9 cars at average of $30k each.)
The Collaborative Economy
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It means people are EMPOWERED
Is this a passing fad?
The Collaborative Economy
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75% said they predicted sharing of physical objects and spaces will increase in next 5 years
–Shareable Magazine Study
Societal Factors
Population
1975: 4 Billion
2050: 9 Billion
Economic Factors
• 87 phones per 100 people on planet
• Three quarters of startups use social tech like Facebook
Technology Factors
Out of 200 collaborative economy startups, total funding was over $2 billion
Of those funded, the average was $28 million
Airbnb raised over $200m+, Uber $300m+, LendingClub $125m+
A movement that’s only increasing
How can Companies achieve Resiliency?
Collaborative Economy: Value Chain
Collaborative Economy: Value Chain
Brand as a Service
Toyota as a Service
Home Depot as a Service
Razors as a Service
Beauty as a Service
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Marriott “Office as a service” builds prototype of purpose-built co-working & meeting spaces in Seattle-area hotel.
Marriott takes a strategic approach to reaching collaborative workers with work-oriented suites, co-
working spaces, project rooms, meeting rooms and event spaces.
Mobility as a Service
Collaborative Economy: Value Chain
Marketplace Models
Patagonia enabling second market and altruism
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Toms launched an online marketplace carrying products that incorporate giving back.
Toms is providing one marketplace for social entrepreneurs and like-minded customers to buy/sell
products in one place. There are over 200 products from 30 different companies currently offered.
Collaborative Economy: Value Chain
Enable a Platform
Collaboration
FundDesignDevelopProduceDeliverStoreMarket
Co
The Collaborative Economy
Co-Fund new products like Kickstarter
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Add uhaul crowdfunding
U-Haul creates U-Haul Investors Club, allowing crowdfunding for their company.
U-Haul Investors club creates a hybrid of traditional corporate notes and social lending by offering U-notes, which extend financial benefits to the crowd and helps
increase loyalty.
U-Haul creates U-Haul Investors Club, allowing crowdfunding for their company.
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Co-Design products like Nike
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Co-Develop like Quirky
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Co-Customize Like Etsy
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Co-Production with 3D Printers
Nokia enabled 3D printing of phone cases
Co-Storage of Products with Lockitron
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Co-Deliver with Taskrabbit
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Barclays offers BarclayCard Ring, a credit card designed and built by community crowdsourcing.
Card community members can propose ideas and vote for ways to make the card better meet their needs. The community collectively
discusses ideas and evolves the card together. The Giveback program allows members to share in the profits of the credit card program.63
Collaborative Economy: Value Chain
1. People are empowered to get what they need from each other.
2. The crowd is becoming like a company –bypassing inefficient corporations.
3. Corporations must use these same tools and strategies to regain relevancy.
4. This requires business model change: product > service > marketplace > repeat.
5. The crowd will become the company, making corporations resilient.
FIVE FINAL TAKEAWAYS:
Let go of your business model to gain the market
What side of history, will you be on?
Crowd CompaniesEmpowered People & Resilient Brands
Jeremiah OwyangChief Catalyst, Founder@jowyang
Empowered People & Resilient Brands
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