1.
Oct 2015
www.hhs.se

2.
Halloween in Nashville, 1974

3.
The future is already here,
it’s just not very evenly
distributed.
- William Gibson

4.
Thx to R. Wieselfors, Ericsson for photos

5.
Thx to R. Wieselfors, Ericsson for photos

6.
USD 45 bln

7.
Uber
• Launched June 2010
• 330 cities in 60 countries
• Limited physical assets
• USD 51 bln valuation
(Ericsson – USD 32 bln)
“Doing more with less” through a global
platform

8.
People
• “Net generation”
• 24x7 “mobile” workforce
• Knowledge via MOOCs
• Sharing not owning
• Sustainability
Technology
• Broadband access
• Mobile phones
• The cloud
• Internet of Things
• Big Data
• 3D printing
• Robotics/AI
• VR/AR
• Holography
• Blockchain
Open Source IP
• Software
• Hardware
• Physibles
Convergence of…..
Finance
• Microlending/microfinance
• Crowdfunding/equity/P2P
• Non-fiat cryptocurrencies
• Mobile money/payments
• M2M payments

9.
Banking is essential,
but banks are not.
Bill Gates

10.
In just the past few years in Stockholm…
Company Founded Business
Klarna 2005 E-commerce payment services
MyLoan 2006 Loan broker
Trustly 2008 Online payments
TrustBuddy 2009 P2P lending
iZettle 2010 Mobile payments
FundedByMe 2011 Crowdfunding, crowd equity
Kivra 2011 Digital mailbox
Tink 2012 Personal finance
Safello 2013 Cryptocurrency exchange
KnCMiner 2013 Cryptocurrency mining equipment
Toborrow 2013 P2P lending for companies
Cryex 2014 Cryptocurrency clearing house

11.
Stockholm #2 FinTech city in EU
2010-2014 investment
● $532 Mln
2014 investment
● $266 Mln
Top 2014 Investments in
Stockholm FinTech
Companies (Mln)
Klarna $125
iZettle $55
Trustly 29
Bima Mobile $22
KNC Miner $14 ($29)

12.
Bitcoin & the Blockchain
Community + Internet + Open source + CPU
Teigland, Yetis, Larsson 2013 http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2263707

13.
Betting on the Blockchain - Together
Goldman Sachs, JPMorgan,
Credit Suisse, Barclays,
Commonwealth Bank of
Australia,
State Street, RBS, BBVA, UBS
+

14.
The automotive industry
Disruptions ......the likes of which the
industry hasn’t seen since the
automated assembly line.
http://asmarterplanet.com/blog/2015/01/auto-industry-innovation.html

15.
https://www.cbinsights.com/blog/startups-drive-auto-industry-disruption/

16.
New entrants

17.
And new forms of ownership…crowd equity

18.
If the rate of change on the
outside (of an organization)
exceeds the rate of change on
the inside, the end is near....
-Jack Welch

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

20.
From factories ….

21.
...to offices…

22.
…to server halls and …

23.
….. robots
MX3D to 3D print steel bridge

24.
.… “Third Places” and co-working spaces
US: 40% of workforce freelancers

25.
Hoffice –
Sharing your home with local freelancers
Structured working process

26.
Jobs that did not exist 10 years ago
 iOS/Android developer
 Social media manager
 UI/UX designer
 Big data architect
 Cloud services specialist
 Digital marketing specialist
 Sustainability expert
 Zumba instructor
 Beach body coach
http://talent.linkedin.com/blog/index.php/2014/01/top-10-job-titles-that-didnt-exist-5-years-ago-infographic

27.
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

28.
And new forms of “face to face” meetings

29.
No one knows everything,
everyone knows something,
all knowledge resides in humanity.networks.
Adapted from Lévy 1997Image: Krebs

30.
Community platform
Hierarchicalfirm
VS
E.g., Ford
~ Created by employees within
organizational boundaries
E.g., Local Motors
~ Created by community collaborators
regardless of affiliation
Teigland, Di Gangi, & Yetis 2012
The Flipped Firm: New model of value creation?

31.
“Local Motors is the place for people to create
influential vehicles together.”
https://www.youtube.com/watch?v=qj28q7HvfJ4
• 1000x cheaper to produce new car model
• 5-22x faster production, depending on vehicle

32.
Microfactories – Local and Mobile

33.
Local Motors to print 3D cars
in its micro-factories
http://3dprint.com/79342/local-motors-reload-3d-car/

34.
Increasing forces
for local community

35.
Dining
Clothes
Workspaces
Cars
Small machinery
Living

36.
But how many cars do we need?

37.
http://www.inc.com/adam-vaccaro/uber-isnt-a-car-service.html
Uber uses data science to predict where its riders want to go

38.
La’Zooz – Decentralized transportsharing
http://lazooz.org/

39.
Moving into hardware:
Local networks of 3D printers

40.
A 3D printer workshop on Lisette’s boat
RepRap community
E-commerce

41.
Scheveningen Harbor – The Hague

42.
My first attempt at 3D printing – successful!

43.
DIY Growing

44.
Developing circular economies
Local materials?
Reduced consumption?
Reduced transport?
Fueled by local “money”?
And by IoT?

45.
What’s around the corner?
24x7 Global Internet Collaboration + Open Source + 3D Printing
http://mashable.com/2013/02/13/robohand/
$60,000
$150
Available for free
download on
$45
Where is
the firm?

46.
Exploitation
Improving existing
value creation
activities
Exploration
Developing new
value creation
activities
Adapted from March 1991

47.
Some questions…
• What basic assumptions will no longer
hold, e.g., economies of scale?
• How will online and local communities
interact?
• What will the local and global
influence be of circular economies?
• Why does the firm exist?

48.
Robin Teigland
robin.teigland@hhs.se
www.knowledgenetworking.org
www.slideshare.net/eteigland
www.funnovation.se
@RobinTeigland
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