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Transcript of Sharing Economy
In digital environments a number of early adopters (or critical mass) is necessary for the
(as it activates network effects)
Growing and maintaining the user base leads to enormous growth (or positive feedback)
why sharing economy?
less than 10 years...rapid growth that has threatened established industries like the taxi and hotel industry...this is reflected in big valuations from investors (HBR)
PricewaterhouseCoopers has estimated that by 2025, five main sectors of the sharing economy could represent $335 billion in revenue worldwide
...and two-sided platforms
both companies employ the five factors suggested by Shapiro & Varian (1999) such as customer expectations, timing, IP, partnership and pricing (more or less in the same way with Uber a bit more active)...not as active as other IT industries
although both companies invest in maintaining the user base...they dont seem to enjoy exclusivity...(multihoming)...
both cases work like two-sided platforms, also in terms of pricing...but also question it...i.e. surge pricin suggests that platform pricing does not always work like scholars suggest...
Research shows (CBS)...most of the sharing economy
growing the user base
a model that facilitates the sharing of “underutilized assets” for a compensation or for free and it is generally used to describe peer-to-peer marketplaces (Botsman, 2014)
multiple benefits for sustainable cities, environment, future economic activity, entrepreneurship, innovation, productivity etc.
Sharing economies resemble two sided platforms
Sharing economy are scarcely researched but TSP not
no research about that...
reliable theoretical tool to address the
THE flagship sharing economy
the most popular and mentioned in tech blogs and archival records:
adopted in different sectors such as goods, food, transportation, money, space & services.
new, innovative and big...
5 factor framework (Shapiro & Varian, 1999)
a new trend that suggest business model adaptation to sharing economy models i.e. Science Exchange is a venture where science labs are rented and shared (The Economist) or Hilti, a construction company that leases construction tools to its customers (MIT Sloan) or even Daimler in a joint venture with Europcar has created car2go...
Pepsico partnered with TaskRabbit to promote its new product Pepsi Next (MIT Sloan)
New sharing startups include a Swiss cow leasing company named Kuhleasing or even The Wine Foundry which allow amatours and pros to make their wine without owning a vineyard...
Analysis of the secondary data
collection of the big amount of data
content analysis software
hard to analyze the lock-in process
time factor and product development scheme
(approx. 1800 pubications)
Uber growth (20,000 drvers per month in 2009)
may substitute car ownership (HBR)
sharing economy has become a reality...even estabished companies have adapted to sharing economy business models such as Peugeot, BMW, Hyatt...
The case of Airbnb
Digital platforms and ecosystems
Multi-sided platforms ( i.e. Facebook, Google, E-Bay)
Airbnb as a 2-sided platform
Airbnb User base
more then 2 million listings in more then 190 countries worldwide (Airbnb)
more then 60 million guests accomodated (Airbnb)
an estimated number of 80 million bookings for 2015 (Reuters)
....in less then 8 years...
1. Creating the user base
2. Augmenting the user base