A new economic model is emerging as the millennials are thinking smart about ways to make money on everything they own. As the “sharing economy” proliferates, p2p and point-to-point luxury cars are being used by the minute and sophisticated car owners are earning cash for their cars while at work. Instead of paying retail prices for top fashion, folks are using online platforms to choose and swap with others. Vacationers are staying at personal townhouses, mansions and even pitching tents in people’s gardens while homeowners turn a profit on their assets.
Time and space limitations, uneasy economic times and increasing sustainability and community values have triggered a shift in behavior, a new business philosophy. While “sharing” has been around for some time, mobile applications, advances in payment technologies and connected social networks are putting in place an infrastructure that supports trust and accessibility for community sharing – pushing this movement to a whole new level.
The impact is in the numbers. Car-sharing revenue is expected to reach over $3B by 2016 and peer-to-peer rentals are expected to expand to become a $26B industry. Perhaps most telling is $110B--the estimated total market for the sharing economy over the next few years. This market is emerging and expanding at a rapid pace.
·What made Airbnb such a commodity, will this
work for others startups and in which verticals?
·How do the changes in auto sharing impact auto
·How do insurance models work in the “sharing
·What barriers are inhibiting this movement to
·Should you trust just anybody with your home, car,
dress or power saw?
·What is the regulatory environment like around
You can learn more about this fascinating topic by joining VLAB on May 21st 2013 for a lively discussion exploring reality and future potential for collaborative consumption. Meet a panel of experts including entrepreneurs who are driving the new, sharing economy.