Foresight
Autonomous Vehicles
The shift to fully autonomous transport is an evolution via…
Read moreTitle: The Real Sharing Economy
Author: Future Agenda | https://www.futureagenda.org
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https://www.futureagenda.org/foresights/the-real-sharing-economy/
Increasing collaboration drives organisations to reconfigure based on social networks and impact. Real sharing enterprises, not driven by profits, seek to share resources, knowledge, and decision-making responsibilities.
Based on online marketplaces creating transparency of demand and matching to it supply, at a competitive price, the sharing economy already encompasses a wide range of models, the likes of Airbnb, Uber and TaskRabbit, most founded on a for-profit approach. Many of them have been established around the more open and transparent sharing of information that enables more peer-to-peer business models to be developed. While many of the current successes are labelled as being part of the sharing economy, a good number are using Internet platforms to run disruptive and profitable new businesses. Many see that going forward a more meaningful approach to sharing may emerge and so we will see a real sharing economy – one where people genuinely share skills, information and knowledge with each other in a way that creates additional value for everyone, and not just for some.
Whether considering eBay – the original online marketplace, Lyft – the car sharing competitor to Uber, or TaskRabbit – that connects odd jobs to people in your neighbourhood, the majority work on the basis that the platform takes a cut of every transaction. Whether that is 5%, or 30% as with Uber, as more customers are attracted to these and similar marketplaces, the corresponding attraction for investors is that the companies both control and acquire the majority of the value. Although often creating a more efficient system than the incumbent, and so seen as being disruptive to the status quo, as can be seen by the valuations now attached to these companies, many have proven to be far more profitable than original service providers – largely because the new models mean that the marketplaces don’t need to support any of the assets. They simply match supply to demand as and when needed but don’t own or therefore pay for the resources when they are not being used. Little surprise therefore at the resistance seen by taxi drivers around the world to Uber and its like.
There may be limitations to how this approach goes forward, especially in terms of the premise of sharing both assets and value. As airbnb entrepreneurs are seen to be accelerating the prices of homes in San Francisco and elsewhere, the sharing platforms are themselves distorting communities. They are less about sharing and more about access. What began as a peer-to-peer idealistic and egalitarian movement has, in some eyes, become a commodifier of other people’s resources. The platforms are extracting most of the value created by their users and seeking to create, often unregulated, monopolies with little if any competitors of scale. Government regulators in some cities are also starting to raise concerns about how some of the recent start-ups are going against the public interest – Airbnb is being challenged in Singapore.
Read more$12 bn
annual investment in online exchange economy
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The World In 2025