Slides from my lecture at KTH - Royal Institute of Technology in October 2014, http://dm2571-2014.blogspot.se/2014/09/lecture-12-wed-oct-1-10-12-teigland.html

1. October 2014

2. Who am I? (LinkedIn Inmaps)
Swedish
Industry
SSE
Exec Ed
Research
Wharton
Stanford
McKinsey
vonorange.com

3. Today’s discussion
Part I Background
Part II The Sharing Economy
Part III Exercise
Part IV Into the Future

4. Then…
Thx to R. Wieselfors, Ericsson for photos

5. …Now
Thx to R. Wieselfors, Ericsson for photos

6. http://www.torbenrick.eu/blog/strategy/the-sharing-economy-is-changing-consumer-consumption/

7. Collaborative consumption
Botsman, 2010

8. People
• “Net generation”
• 24x7 “mobile” workforce
• Knowledge via MOOCs
• Sharing not consuming
• Sustainability
Technology
• Broadband access
• The Cloud
• Mobile phones
• Internet of Things
• Big Data
• 3D printing
• Robotics/AI
• VR/AR
Open Source
• Software
• Hardware
• Physibles
Convergence of…..
Finance
• Microlending/microfinance
• Crowdfunding/equity/P2P
• Non-fiat cryptocurrencies
• Mobile money/payments

10. History tends to repeat itself….
Innovation, financial crisis, industrial revolution, …
Steam
engine
Internal
combustion
engine
Microelectronics
Late 18th C Late 19th C Late 20th C
Schön 2008
Third
industrial
revolution?

11. Many are stuck in our old ways …

12. What’s around the corner?
24x7 Global Internet Collaboration + Open Source + 3D Printing
$60,000
$150
Available for free
download on
http://mashable.com/2013/02/13/robohand/
Where is
the firm?

13. No one knows everything,
everyone knows something,
all knowledge resides in nheutmwaonrkitsy..
Six degrees of
separation
- Milgram, 1967
Adapted from Lévy 1997

14. The wisdom of the crowd
Closed
Expensive
Complex
Accurate
Open
Inexpensive
Simple
Close enough
Hinton 2007
Accurate
Up-to-date

15. 105 emp
350+
Partners
43,900+
Community
members
15,000+
Customers in
130 countries
• Content management software, #1 in media industry
• 250,000 sites in 170 countries
• Customers: UN, FT, WSJ, Vogue, Hitachi, 3M, BMW
• 105 employees in 9 countries (US, Europe & Asia)
Teigland et al., 2014 forthcoming

16. eZ’s platform for building identity and
competence throughout its ecosystem
eZ Software
development team

17. Threadless
A platform for global community collaboration
Est. $30 mln sales
30% profit margin in
commodity business
20 employees but a
24x7 global “workforce” of
2.4 million
No internal R&D or
sales & marketing

18. From clothing to home products….

19. Innovation in automotive design/production
“Local Motors is the place for people to create
influential vehicles together.”
http://www.youtube.com/watch?v=azCRuwtE_n0

22. The Collaborative Economy
A system that activates the
untapped value of all kinds of
assets through models and
marketplaces that enable
greater efficiency and access.
Harvard Business Review, 2014
- Botsman

23. Across all kinds of assets
Asset Example Organization
Intangible Open source software
Open source hardware
Linux, eZ Systems
Thingiverse
Financial Crowdfunding
P2P lending
Cryptocurrencies
FundedByMe, Kickstarter
Toborrow
Bitcoin
Human Knowledge/skills
Labor
Innocentive, Local Motors
TaskRabbit, MyWays
Tangible Transportation
Property/Housing
Food
Uber
AirBnB
EatWith
Other Reputation
?
?

24. What is Crowdfunding?
Accumulation of small investments in individual
projects by large number of individuals (the
“crowd”) via or with help of Internet and social
networks (De Buysere et al., 2012)
Picture: FundedByMe

25. Market size
 Global crowdfunding almost doubled 2012 to 2013
to USD 5.1 bln
 March 2014 Kickstarter passes USD 1 bln in total
pledges
 FundedByMe raised USD 10.5 mln to date
 By 2025, global crowdfunding could reach USD 90
to 96 bln (1.8 times today’s global VC industry)
 Growth potential greatest in emerging markets?
 USD 50 bln in China by 2025?

26. Local Stockholm success story:
Flippin’ Burgers
Money raised:
SEK 36,502 /
€4,000
Number of
investors: 186
Date funded:
September 2011
Sector: Food

27. Enabling local, small-scale solutions
http://travel.cnn.com/best-americana-restaurants-europe-023346

28. Nesta

29. P2P lending in the US and UK…
• USD 3.8 bln in personal
loans since 2007
• USD 750 mln growth
each quarter
• Now offering business
loans
• Strategic alliance with
Union Bank

30. Toborrow.se

31. Today’s discussion
Part I Background
Part II The Sharing Economy
Part III Exercise
Part IV Into the Future

32. Uber
Global platform for local community collaboration

33. Global platform for local community collaboration
Launched June 2010
USD 17 bln valuation
43 countries globally
Uber
Limited physical assets
UberPop, Uber Rush, ??

35. http://www.inc.com/adam-vaccaro/uber-isnt-a-car-service.html

36. Exercise
Develop an argument for your position:
For Uber Against Uber
1. Uber CEO 1. Taxi Stockholm CEO
2. Uber Taxi driver 2. Taxi Stockholm driver
3. Uber passenger 3. Average taxi passenger
4. Automobile Dealer
Association Chairman
4. Taxi Industry Association
Chairman
5. Politician 5. Politician

37. Today’s discussion
Part I Background
Part II The Sharing Economy
Part III Exercise
Part IV Into the Future

38. Exploitation
Improving existing
value creation
activities
Exploration
Developing new
value creation
activities
Adapted from March 1991

39. DIY 3D printing becoming more commonplace…
http://openfabpdx.com/fffiddle/

40. What’s around the corner?
24x7 Global Internet Collaboration + Open Source + 3D Printing
$60,000
$150
Available for free
download on
http://mashable.com/2013/02/13/robohand/
Where is
the firm?

41. OpenSimulator: A value-creation ecosystem
Academic
Entrepreneur
Hobbyist
Large Firm
Non-profit
Local Public
Federal Public
Research Inst
SME Employee
Periphery
Teigland, Di Gangi, & Yetis 2012
USD 5.5mln in
development costs

42. Thomas Jefferson (1816)
“Laws and institutions must go hand in hand
with the progress of the human mind.”
The problem is that the human mind itself
can’t keep pace with the advances that
computers are enabling.
http://wadhwa.com/2014/04/15/mit-technology-review-laws-and-ethics-cant-keep-pace-with-technology/

43. http://www.futuristspeaker.com/2014/09/should-robots-have-their-own-bank-accounts/

44. The future is already here,
it’s just not very evenly
distributed.
- William Gibson

45. If you love knowledge,
set it free…
Robin Teigland
robin.teigland@hhs.se
www.knowledgenetworking.org
www.slideshare.net/eteigland
www.nordicworlds.net
@RobinTeigland
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