Jeremiah OwYang @SocialShakeUp Sept 17 2014 - notes by @MeiLinFung
#SocialShakeUp Atlanta Sept 17 2014
This work is licensed by a Creative Commons LIcense Attribution (version 3.0)
H2H – we are participating in the Human-to-Human collaborative Economy
King of Denmark – Frederick – the crowd revolution in Europe was toppling the monarchies of Europe. He had a choice to fight or collaborate.
“The Sharing Economy” – on the Internet, everything is for hire – THE ECONOMIST Cover Story
How to Make Stuff – the DIY Revolution starts now – WIRED
Phases of Internet Sharing
This is the next phase of your social business career
What role do corporations play if people get what they need from each other?
CE = an economic model where the creation ownership and access are shared between people and corporations
Launched Crowd Companies – for large corporations in this space – Coke, Home Depot, Whole Foods, Polycom, Wal-Mart etc – 42 members - Slide 7
Is this a business disruption?
Collaborative Economy Honeycomb Version 1.0
Very robust – resilient
No wasted space
Empowered people are in the center of the honeycomb
This is the collaborative economy – adding education, utilities, and healthcare – H2H social commerce
“Sharing is the new buying” – Adoption rates are doubling
A properly shared car is $270k in lost revenue to car manufacturers alone (gas, tolls etc – 1 car could have $1M impact)– because cars are used 5% of the time 1 shared car = 9 cars at $30k
What’s causing this?
Crowd ratings and trust
Access rather than own – thru mobile
Internet of things
Mobile devices everywhere
VC funding - $2.7 B funded since 1/1/2014 – for sharing
Match.com for everything
King Frederick of Denmark – he went outside of the palace gates – he ratified the constitution to give power to the people – a multi-tiered system
How can brands “Shakeup” their business models and become resilient
Collaborative Economy Value chain
3 business model options
Brand as a service – e.g. Netflix, Salesforce – now BMW as a service “Drive Now” for $90 membership fee – book car – drive and leave
Trunk Club just bought by Nordstrom – sends clothes to men on demand – “clothes as a service”
Home Depot as a service – renting trucks, tools, cleaning equipment – partnered with Uber - #UberTree “Christmas Trees on demand in Manhattan”
New service models are emerging
Predict – access over ownership – a new business model emerges where we don’t own goods Lisa Gansky author of “The Mesh”
Marketplace Model – private branded online economy
Wal-Mart enables game exchange – reducing waste – customers who bring in used video games can receive store credit
Patagonia enables marketplace for refashioning products “Don’t buy our jacket” – get it used in the eBay market called “common threads’ Together we can reduce our environmental impact
Gap partners with Divvy Bike Sharing for a shared workforce – Join Take Ride Return – bikers and holiday season jobs
Prediction – a progressive Hotel will franchise the crowd, taking Airbnb head on – and pilfer the top Airbnb hosts – and provide guaranteed level of service (sheets, cleaning)- Franchising
U Haul enables the crowd to fund truck, share in winnings and foster “shared Destiny” – you can invest in U Haul’s investor club – Tap the crowd for better rates and terms that a company can set and achieve the highest form of loyalty – crowd funding is the HIGHEST FORM OF LOYALTY - its Shared Destiny
Hasbro enables customer to 3D print product on demand via Shapeways – worked with the Makers
Whole Foods co-delivers with Instacart – extending home delivery within an hour – extending the brand promise – home delivery with Whole Foods quality
Cokes WONOLO – work now locally – shares with customers who become employees - retail customers can now stock shelves for coke displays and get paid while at it. Customers = Employees – turns own customers into partners
Barclays offers Barclaycard Ring – a credit card designed and built by community crowdsourcing – you design it, set the rates, own it - they back office it Barclays provides back office
In the future we can’t tell the difference between customers and employees
Collaborative Economy Value Chain
B2P – sell 1 good a thousand times and offer value added services
P2P – enable reselling of used good and services, scaling new value
B+P – tap crowd for innovation with shared ideas, resources and rewards
Slides are public on Slide share:
Back to King Frederick – now Denmark is the happiest country – he gave up the right to rule unquestioned, partnered with the people, and gained a kingdom
Give up your business models, gain the market
Which side of history will you be on?
Q: Denise Holt – regulations shift?
A: Each country and each city is responding differently
California ride sharing is legalized
SF – Airbnb pays 14% hotel tax – new health regulations
Augie – promise of Collaborative economy – will HAVES and Have not’s collide?
This is capitalism – there is new feudalism emerging BUT heavily funded startups tip the balance “Freelancers Union” and “Peers.org”
Q: People Links – eBay – there are people there for the commerce and those there for the community 99-cent widgets – is it commerce? Is it community?
A: Data: why do people participate? Efficiency and Value, Unique experiences, connecting to others, sustainability – for scaling –, which will propagate further
Airbnb founders heavily studied Disney – they were designers – they are training hosts to offer the experience in their homes
Q: What is the role of Brand in social media?
A: Corporate Logos went from “cease and desist” to Please share OUR logo
Build products with the company
Ford gave Uber drivers $3000 to buy cars – it's a brand new sales station – 40 test rides a day – Ford gave their brand to get more customers
Q: Dan Gigiss – Security?
A: 4 phases for security