New sharing economy pdf

Thanks in large part to the web, its now an industry with seemingly the new sharing economy is one installment of latitude 42s. But the gig economy goes far beyond this, affecting workers of all ages, expertise and industries, and equating the two distorts both unfairly. Proponents of the sharing economy argue that it will bring many bene. Debating the sharing economy great transition initiative. The explosive growth of the sharing economy has led regulatory and political battles around the world. Issues facing platforms, participants, and regulators 1 executive summary introduction. But what needs to be understood is that regardless of the confused interaction between the capitalist market and its little fledgling baby is that sharing economy is the first new economic system. However, the sharing economy s implications for marketing thought and practice remain unclear. Is the sharing economy replacing ownership with access. The idea of sharing things and using them together is not new, but is a.

How the sharing economy can make its case mckinsey. The answer is both, which can be good news for everyone involved. This article defines the sharing economy as a technologically enabled socioeconomic system with five key characteristics i. Above all, it is also the first ever book on the subject written by someone working on the frontline of this new economy. Giving someone a ride, having a guest in your spare room, running errands for someone, participating in a supper clubthese are not revolutionary concepts. The digital firms that provide the platforms are often collectively referred to as belonging to the sharing or collaborative economies, among other descriptors. As ceo of one of the uks bestknown sharing economy businesses, alex brings razorsharp insights on the challenges and opportunities for us all in this fastchanging landscape. The new economy deals in wispy entities such as information, rela tionships, entertainment, securities, and derivatives.

The current and future state of the sharing economy niam yaraghi and shamika ravi 1 1 niam yaraghi is a fellow at the governance studies center for technology innovation. The collaborative economy has the potential to create new opportunities for consumers and. Alex stephany is the ceo of justpark formerly parkatmyhouse, one of europes most renowned sharing economy businesses. The dark side of the sharing economy world economic forum. As the global sharing economy reaches new heights, its impact on the way we view parttime. The sharing economy allows people to earn income in new ways, yes. Putting the sharing economy into perspective sciencedirect. Drawing from recent studies on the sharing economy workers psyche, and the business mindset of the sharing economy companies and investors, we demonstrate that successful social movements may be practically impossible in a sharing economy dominated future. Ride sharing and shortterm lodging rentals emerged on the bleeding edge of the sharing economy because consumers were already accustomed to calling cabs and booking hotel rooms.

Our company and the airbnb community are leaders in the new sharing. How airbnb benefits communities founded in august of 2008 and based in san francisco, california, airbnb is a trusted community marketplace for people to list, discover, and book unique accommodations around the world online or from a mobile phone. Consumers have so far enthusiastically adopted the services o ered by rms such as airbnb, uber, lyft, and askrabbit. New economy is a buzzword describing new, highgrowth industries that are on the cutting edge of technology and are the driving force of economic growth.

The emergence of peertopeer platforms, collectively known as the sharing economy, has enabled individuals to collaboratively make use of underutilized inventory via feebased sharing. In what is called collaborative consumption, the sharing economy or the peer economy, owners rent out something they are not using, such as a car, house or bicycle to a stranger using these peer. The cornerstone of success, however, is built on a foundation of reputation and trustthe new currency. The first part illustrates the evolution of the concept of the sharing economy and the main analytical implications. For the past five years we have seen the rise of a new trend enabled by technology. Debating the sharing economy the sharing economy has attracted a great deal of attention in recent months. The first of its kind, written by an author on the forefront of this new trend. Does a sharing economy create new value or does it disrupt existing businesses.

The sharing economy over the last decade, t he emergence of peer topeer business models has empo wered countless individuals across the globe to earn money through sharingtheir underutilized assets. New internetbased \ sharing economy markets enable consumerowners to rent out their durable goods to nonowners. The tricks of the intangible trade will become the tricks of your trade. Backed by the venture capital arm of bmw and index ventures, justpark is the worlds largest website for shared parking with over a million customers. This essay introduces the subject and interpretative perspective of the monograph unboxing the sharing economy, and is divided into three parts. The end of employment and the rise of crowdbased capitalism. Americans began looking for new opportunities to earn money. New rules for the new economy by kevin kelly twelve dependable principles for thriving in a turbulent world the digital revolution gets all the headlines these days. Giving someone a ride, having a guest in your spare room, running errands for someone, participating in a supper club. Airbnb, snapgoods and 12 more pioneers of the share economy. Pdf the crazy new world of the sharing economy researchgate. The wideranging implications of the shift to a sharing economy, a new model of organizing economic activity that may supplant traditional corporations. In our competitive economy, innovation is a major driver of longterm consumer welfare gains.

The speed of growth with which sharing systems have spread suggests that the sharing economy might represent a serious threat to established industries, due to fewer purchases and consequent distress in conventional markets. The current and future state of the sharing economy. This paper examines the new sharing economy as a matrix for social movements. Conceptualizing the sharing economy through presenting a. This 21st century smart digital infrastructure is giving rise to a radical new sharing economy that is transforming the way we manage, power. In a space as new and as ambiguously defined as the sharing economy, we wanted to hear from the people closest to it, those at the leading edge of technology and business who could offer nuanced views of whats happening and why it matters. We argue that a new configuration of social capital, i. According to a study conducted by the pew research center, in october 2015, 68% of. The sharing economy in developing countries about the authors the institute for sustainable futures isf was established by the university of technology, sydney in 1996 to work with industry, government and the community to develop sustainable. We model such markets, and explore their equilibria both in the shortrun, in which ownership decisions are xed, and in the longrun, in which ownership decisions can be changed. The arab world has a raft of new sharing innovations, colombia has become a sharing. The business of sharing making it in the new sharing.

The sharing economy oxford martin school university of oxford. The sharing economy, popularized by the likes of airbnb and uber, has enjoyed remarkably rapid growth over the last five years and looks set to scale new heights over the next decade. Mckinsey estimates that 162 million people in the usa and the eu work in the gig economy, this is about 20% to 30% of the workforce. It explores current status, growth, success factors for further breakthrough and mass acceptance. But consumer behavior can likewise change when the economics, convenience, and variety afforded by new ways of conducting ordinary activities are sufficiently compelling.

The foregoing should make clear that the relation between the new sharing economy and carbon emissions and other ecological impacts is a complex one that can only be assessed with careful studies of particular effects. By unlocking the sharing economy today, can companies transform todays threat into tomorrows. This week a new report by the consulting giant mckinsey was released, and it shows the real size of the gig economy in the us and the eu. Airbnb has expanded this to a new mass market by persuading people to rent out their. Understanding the sharing economy weforum world economic. This report analyzes the size and the acceptance of the share economy in the six european countries austria, belgium, germany, the netherlands, switzerland and turkey. The sharing economy is simply a new term for an old method of commerce that can now be completed faster than ever with the advent of smart devices driving constant communication and instant gratification. Boosters claim the new technologies will yield utopian. Indeed, advocates of the sharing economy believe that it is creating economic opportunities in the wake of the 2009 downturn.

So far, airbnb is succeeding in attracting customers, but is not yet tak ing much revenue from hoteliers, according to a market analysis of new york city from hotel consultant sean hennessey, who was granted unprecedented access to airbnbs data. The sharing economy you would be excused if you thought it sounded like the spiritual home of new age digital hippies, or maybe a step up from a barter system might sound a million. Platforms such as airbnb and uber are experiencing explosive growth, which, in turn, has led to regulatory and political battles. At the annual meeting of the new champions 2016 in.