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The Collaborative Economy

Posted on 7 October 2014

“Sharing is the new buying,” according to Jeremiah Owyang, Founder of Crowd Companies, at the recent Social Shake-Up, organized by Social Media Today.

A new marketplace model – the Collaborative Economy – has been spawned in the era of social media where “products are becoming services.” Where people have “membership” to goods rather than “owning.” Leading the marketplace transformation in the Collaborative Economy are companies including AirBnb, Netflix, Salesforce, BMW, Nordstrom’s Trunk Club, Home Depot, Uber, Elance/ODesk, Indiegogo, Sidecar and many more.

Owyang’s has made available his Social Shake-Up Slideshare: What the Collaborative Economy Means for The Business of the Future

The Collaborative Economy – Key Sectors:
1. Physical – swapping, bartering –there are currently about 9000 startups in this market. The concept is simple: maximize your idle assets, with no money exchanged.
2. Maker movement – e.g., Techshop
3. Food – Feastly
4. Services – business and personal – e.g., Instacart
5. Healthcare – Helparound builds p2p support
6. Workers – Elance/oDesk
7. Transportation – Sidecar, Boatbound, Uber (biggest investor is Google)- Uber may be positioning to become a threat to Amazon.
8. Space – Airbnb
9. Money – over 200 currencies now being used, e.g. Bitcoin
10. Crowdfunding – e.g., Smart Watch company Pebble beat Apple to market by over 1.5 years—by crowdfunding; pier to pier lending (e.g., LendingClub – Google us the biggest investor)

Crowd Companies is an association for innovative business leaders advancing in the growing Collaborative Economy. They connect their members to a community of peers, industry experts, and startups who are ready to partner.