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The Sharing Economy
and Sweden
Claire Ingram
Stockholm School of Economics
Read our report: sharing.claireingram.se
What is the Sharing Economy?
Rachel Botsman:
“a system that activates the untapped value of all
kinds of assets through models and marketplaces that
enable greater efficiency and access”
More selling than sharing in Sweden
TNS för Nordea, 31 augusti – 9 september 2015
Second-handsales
SharingandExchanging
What’s driving it?
• Internet access (especialy mobile)
• Lower barriers to entry
• Ease of financial transactions
• Improvements in analytics
• Financial crisis
• Low wages and job insecurity
• Necessity
• But also a desire to lead a more sustainable life
Economy, environment of note
TNS för Nordea, 31 augusti – 9 september 2015
Internet access
Statistics from Internet World Statistics, 2015
Mobile internet
Statistics from Google, 2015 & Svenskarna och Internet 2015
How does it work?
• Reduces
transaction costs
(incl. cost of
“finding” a match)
http://sloanreview.mit.edu/article/strategic-decisions-for-multisided-platforms/
• Bargaining costs
• Policing and
enforcement costs
Uber AirBnB
Global – but also local
Some examples
Asset Examples Global Swedish
Tangible
Transportation
Property
Food
Uber
BlaBlaCar
Didi Kuaidi
AirBnB
Skjutsgruppen
SunFleet
Hoffice
Intangible:
Financial
Crowdfunding
P2P lending
Kickstarter
Indiegogo
LendingClub
Prosper
GoFundMe
FundedByMe
Crowdcube
ToBorrow
Intangible:
Services
Professional
Personal
Innocentive
Mechanical Turk
Upwork
TaskRabbit
eWork
Vint
TaskRunner
And “sharing” is big business…
http://www.web-strategist.com/blog/2015/06/04/the-collaborative-sharing-economy-has-created-17-billion-dollar-companies-and-10-unicorns/
26 bn USD today 335bn USD in 2025
COLLABORATIVE ECONOMY FRAMEWORK V0.1
LEARNING
p2p learning open courses & moocs
PRODUCTION
co-design / co-innovationdigital peer production distributed fabrication (makers)
FINANCE
p2p funding p2p payments p2p insurance compl. currencies
GOVERNANCE
SWARM
participatory organizations participatory government blockchain / DAO
CONSUMPTION
redistribution local food systemsproduct-service on-demand services
http://mashable.com/2013/02/13/robohand/
$60,000
$150
Available for free
download on
$45
Also a force for good
It could even finance itself!
Form Benefits for funders
Donation-
based
Donation Intangible benefits.
Reward-based
Donation or pre-
purchase
Rewards in addition to intangible
benefits.
Equity-based Investment
Return on investment if company
does well. Rewards sometimes also
offered and intangible benefits may
motivate too.
Debt-based Loan
Repayment of loan with interest.
Alternatively intangible benefits if
loan given interest-free.Ingram & Teigland 2013
Crowdfunding growth 2012-2015
34bn USD (est.)
What are the projections?
By 2025, global crowdfunding could reach 90 to
96 bn USD
1.8 times today’s global VC industry)
Growth potential greatest in emerging markets?
50bn USD in China by 2025?
Livengood & Ingram 2015
Labour market challenges
• More efficient / sustainable use of resources BUT
not really creating many jobs
• Those it does create are often insecure and poorly
paid
• What is
employment?
Regulatory & Economic challenges
• Lots of peer-to-peer contracts – need capacity to
deal with these
• What about taxation, security, IP and privacy?
• Is it a race to the bottom?
• What are the implications of ”zero marginal cost”?
• Reduced consumer spending – effect on growth?
• Creation of monopolies
• How do we measure it?
Policy concerns
• Over-regulation
• Flexible job market
• Improved efficiency
• Safety concerns
• Two-tier labour market
• Race to the bottom
• Artificial Monopoly
What’s next?
High Pace of Technological
Development and Adop on
Low Pace of Technological
Development and Adop on
Global
Economic
Growth
Global
Economic
Recession
“Business
as Usual”
“Shadow
Economy”
“Internet of
Space”
“Freelance
Economy”
Graphic from: http://www.i-scoop.eu/internet-of-things/
Read our report: sharing.claireingram.se
Thank you for your time!
Claire Ingram
Stockholm School of
Economics
claire.ingram@hhs.se
@Claire_EBI

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The Sharing Economy and Sweden

  • 1. The Sharing Economy and Sweden Claire Ingram Stockholm School of Economics Read our report: sharing.claireingram.se
  • 2. What is the Sharing Economy? Rachel Botsman: “a system that activates the untapped value of all kinds of assets through models and marketplaces that enable greater efficiency and access”
  • 3. More selling than sharing in Sweden TNS för Nordea, 31 augusti – 9 september 2015 Second-handsales SharingandExchanging
  • 4. What’s driving it? • Internet access (especialy mobile) • Lower barriers to entry • Ease of financial transactions • Improvements in analytics • Financial crisis • Low wages and job insecurity • Necessity • But also a desire to lead a more sustainable life
  • 5. Economy, environment of note TNS för Nordea, 31 augusti – 9 september 2015
  • 6. Internet access Statistics from Internet World Statistics, 2015
  • 7. Mobile internet Statistics from Google, 2015 & Svenskarna och Internet 2015
  • 8. How does it work? • Reduces transaction costs (incl. cost of “finding” a match) http://sloanreview.mit.edu/article/strategic-decisions-for-multisided-platforms/ • Bargaining costs • Policing and enforcement costs
  • 10.
  • 11. Global – but also local
  • 12.
  • 13. Some examples Asset Examples Global Swedish Tangible Transportation Property Food Uber BlaBlaCar Didi Kuaidi AirBnB Skjutsgruppen SunFleet Hoffice Intangible: Financial Crowdfunding P2P lending Kickstarter Indiegogo LendingClub Prosper GoFundMe FundedByMe Crowdcube ToBorrow Intangible: Services Professional Personal Innocentive Mechanical Turk Upwork TaskRabbit eWork Vint TaskRunner
  • 14. And “sharing” is big business… http://www.web-strategist.com/blog/2015/06/04/the-collaborative-sharing-economy-has-created-17-billion-dollar-companies-and-10-unicorns/ 26 bn USD today 335bn USD in 2025
  • 15. COLLABORATIVE ECONOMY FRAMEWORK V0.1 LEARNING p2p learning open courses & moocs PRODUCTION co-design / co-innovationdigital peer production distributed fabrication (makers) FINANCE p2p funding p2p payments p2p insurance compl. currencies GOVERNANCE SWARM participatory organizations participatory government blockchain / DAO CONSUMPTION redistribution local food systemsproduct-service on-demand services
  • 16.
  • 18. It could even finance itself! Form Benefits for funders Donation- based Donation Intangible benefits. Reward-based Donation or pre- purchase Rewards in addition to intangible benefits. Equity-based Investment Return on investment if company does well. Rewards sometimes also offered and intangible benefits may motivate too. Debt-based Loan Repayment of loan with interest. Alternatively intangible benefits if loan given interest-free.Ingram & Teigland 2013
  • 20. What are the projections? By 2025, global crowdfunding could reach 90 to 96 bn USD 1.8 times today’s global VC industry) Growth potential greatest in emerging markets? 50bn USD in China by 2025?
  • 22. Labour market challenges • More efficient / sustainable use of resources BUT not really creating many jobs • Those it does create are often insecure and poorly paid • What is employment?
  • 23. Regulatory & Economic challenges • Lots of peer-to-peer contracts – need capacity to deal with these • What about taxation, security, IP and privacy? • Is it a race to the bottom? • What are the implications of ”zero marginal cost”? • Reduced consumer spending – effect on growth? • Creation of monopolies • How do we measure it?
  • 24.
  • 25. Policy concerns • Over-regulation • Flexible job market • Improved efficiency • Safety concerns • Two-tier labour market • Race to the bottom • Artificial Monopoly
  • 26.
  • 27. What’s next? High Pace of Technological Development and Adop on Low Pace of Technological Development and Adop on Global Economic Growth Global Economic Recession “Business as Usual” “Shadow Economy” “Internet of Space” “Freelance Economy”
  • 29. Read our report: sharing.claireingram.se Thank you for your time! Claire Ingram Stockholm School of Economics claire.ingram@hhs.se @Claire_EBI