Archive for the ‘Collaborative Economy’ Category


Three Challenges for the Next Economy

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There are three topics that should be discussed as we forge the next economy: the Autonomous World, Silicon Valley feudalism, and ensuring human safety from advanced robots.

For the second year, I’ll be at Tim O’Reilly’s Next:Economy Conference in San Francisco on Oct. 10–11, which brings technology, the economy, and forward-thinking industry leaders together under one roof. These events set the tone for the impacts of technology on businesses, governments, societies, and global economies.

I see three red-hot challenges for the Next:Economy:

The Autonomous World. What role do humans play when robots do jobs better? This topic, which was discussed at the last Next:Economy, was a major theme –yet we’re nowhere near from settling it. Did you know the White House predicts that 83% of workers who make less than $20 an hour are likely to be replaced by robots? And it’s about a one-third replacement rate for those who make $21 to $40 an hour.  We need continued dialog about solutions, including a combination of: upskilling, which will likely never catch up to robots because they will learn faster than humans ever can; and universal basic income or a guaranteed wage for all humans to offset the robots that will increase productivity and replace human jobs.

Is Silicon Valley creating global feudalism models? Economically, is this the best way forward? This topic, which I’ve tackled a few times in my own keynotes, is in response to the fact that Silicon Valley startups are owned by the 1% elite — who then create platforms for the rest of society to use. Who are these 1%? Are they benevolent dictators? Early risk-takers? Deserving capitalists? Folks who just got lucky? They’re likely a combination of all of the above, but the reality is that they’re becoming the most powerful group on the planet. For example, Mark Zuckerberg could, on a whim, place his thumb on the Facebook newsfeed and fill it with content and stories that veer to either the Left or Right points of view. Elon Musk has already developed powerful space programs that are starting to challenge public sector aerospace and are innovating quickly for future world exploration and transportation. These powerful entrepreneurs not only own and control the data and technology we use daily, but they are also able to fund the nonprofits of their choosing through incredible wealth that sometimes outmatches public sector spending.

To protect the human economy, should we have an “off” switch for computer intelligence? How do we influence, manage, or even control advanced robotics and artificial intelligence systems that will eventually become superior to human intellect? Should there be a standards board, a set of legislation, or even a security force that manages robots? Beyond the fears of most dystopian science fiction films, what can we do now to set the groundwork before these technologies are self-sufficient without human support. For example, scientists seek to create a system of checks and balances for advanced robots that ensure humans have fail safes, power-offs, and other security measures that could provide forms of safety. Today, technology is dependent on humans to be created, managed, and supported. Tomorrow, a new level of co-dependency will evolve. On the day after, advanced technology may be independent of human support — will we be ready for this future?

So there you have it: three distinct topics that are set to reshape the economy of the future. You can see the themes of technology overtaking human jobs, those who own these technologies, and ensuring we have balance points for safety. All these and other pressing issues will demand our top insights and ingenuity in order to prepare us all for the next phases of technology, business, government, society, and the economy.

 (photo by Pexels)

Market Snapshot: Crowd-based Insurance Startups on the Rise

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Above Image: Crowd Companies has identified more than a dozen crowd-based insurance startups emerging from financial industry hotbeds like London, more will emerge from each region.

Crowd- and peer-based business models have impacted the hospitality industry, transportation space, financial sector, and other industries as indicated within the latest Collaborative Economy Honeycomb 3.0.

We’re now seeing the rise of a growing set of startups in the insurance industry that are enabling P2P, pro-rata coverage or crowd-based models that leverage the crowd. These emerging insurance tech startups include mostly peer-to-peer offerings, with a handful that are also improving the delivery of insurance through new technologies.

P2P insurance allows for more people to be insured by aiding underserved markets. It provides coverage for gig workers in the collaborative economy, while collective purchasing yields preferential pricing (or even funds returned) to those subscribed to peer-based insurance programs. With most of the emerging startups acting as brokers, the insurance carrier startups are still forthcoming in the insurance world. Lemonade is a clear example of this (though they’ve yet to launch).

There are several companies popping up for specialized insurance, too. From insuring cyclists to pet owners, and one––Bought By Many––that specializes in ‘long tail’ insurance. This means insure those items that aren’t often insured. Then, there’s Trōvthat provides ‘on-demand’ insurance, for those who want to insure in the moment by simply snapping a pic in the app, granting fast coverage. It’s coverage for when people seek access over ownership.

The map above of crowd-based insurance startups isn’t complete; there are more emerging, and we expect for each geographic region to develop their own capabilities. See the table below for additional details.

Sample of Crowd-Based Insurance Startups: 

Startup Category Description
OnSource On-Demand Inspection On-demand visual inspection by a group of independent crowd workers
trov On-Demand Insurance On-demand protection for belongings – home, auto, personal property. Easy to turn on/off.
Tong Ju Bao P2P Broker TongJuBao is a P2P insurance platform that helps its users manage risks. TongJuBao was developed by QiBao Investment Consulting (Shanghai) Co., Ltd, a WOFE (wholly owned foreign entity) and is ultimately controlled by its French founder, Tang Loaec. (CB Insights)
Broodfonds P2P Insurance – Crowdfunding Group of freelancers crowdfunding each other’s sick leave
PeerCover P2P Insurance – Crowdfunding Join group, pay fee upfront, users decide if claims are fair and can get up to 5x your balance to cover claims. ‘Crowdfunded cover’
MetroMile Pay-Per-Mile Auto Insurance Metromile is a car insurance startup that offers pay-per-mile insurance and a driving app. It is currently the only company offering pay-per-mile insurance in the United States.
CommonEasy P2P Insurance Broker CommonEasy is a peer-to-peer insurance platform that utilizes the power of the crowd to collectively insure and protect material possessions, homes, and livelihoods.
Besure P2P Insurance Broker Peer-to-peer risk sharing for property insurance, not currently launched.
Friendsurance P2P Insurance Broker Pools users into small groups. Brokers with 60 insurance partners.
Inspeer P2P Insurance Broker Users form small groups for auto, motorcycle, and home insurance. Users pledge to cover up to a certain amount.
Guevara P2P Insurance Broker – Auto Pools friends and acquaintances, or other small groups, for car insurance.
Gather P2P Insurance Broker – Business Business insurance shared across a group/community.
Bought By Many P2P Insurance Broker – Long-Tail Works with insurers to develop policies and negotiate discounts for long-tail insurance needs like pet insurance, cyclist insurance, etc.
SafeShare P2P Ins Broker – Share Econ Develop insurance products and partner with sharing economy businesses to offer users and providers insurance solutions. Work to fill in the gaps of insurance for Sharing Economy providers and users.
Cycle Syndicate P2P Insurance Carrier – Cyclists Bike insurance shared over a small group. Insurance held by cycle syndicate.
Lemonade P2P Insurance Carrier Lemonade is peer-to-peer insurance and one of the only carriers, but they’ve yet to launch. Groups of policyholders pay premiums into a claims pool, and if money is left at the end of the policy period, they get refunds.
Uvamo P2P Insurance Carrier Uvamo, which plans to launch by the end of the year, aims to cut administrative costs by offering property and casualty insurance direct to consumers online. Those policies can then be diversified and grouped into a pool, which collects all the premiums paid by the policyholders. -CNBC

 

Additional Resources:

Collaborative Economy Market Contraction Signals Maturity

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Above Image: a butterfly emerges after contracting in a cocoon.

You’ve probably read the article from Salon, with its sarcastic title and detailing of several failed on-demand, Collaborative Economy startups. A few people asked for my thoughts

First, our data shows that the Collaborative Economy movement is here to stay,. We see people increasingly adopting sharing behaviors , startups like Uber are profitable in the United States, and the UK government is  offering a tax credit for people who participate in it. It’s not going away––but we do need to cull the herd.

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Second, signs point to the fermented froth fizzing out as we enter Phase 4 of tech market maturation: Contraction…

The Collaborative Economy Market is Changing:

Too many damn startups are doing the same damn thing. Lisa Gansky’s massive directory of startups in this space tallies at a whopping 9,703 startups. In our latest Honeycomb 3.0, we reviewed 450 startups, but only about 250 made the cut. We found many startups doing the exact same thing as others, often in the same regional area! Take San Francisco’s recent valet app market, for example: there’s Zirx, Luxe, and Carbon all fighting for me to download their app so they can park my car in the city’s insane downtown area.

VC welfare strings are starting to tighten. The Salon article refers to investment funding as “VC welfare,” which gave me a chuckle.it’s true; this market has been funded plenty, as shown in our massive spreadsheet on funding. It indicates that, in previous years, there’s been a total of $28 billion in VC funding poured into this market. Why is this? VCs wanted to see market traction (even if the startups weren’t in the black), and they were hoping to fund the next “unicorn,” which there are dozens in this market. On my analysis post on VentureBeat, we found that much of the funding centralized last year on the billion dollar unicorns––although I’m expecting the rest of 2016 to soften on VC funding.

Startups are disappearing or consolidating. There have been quite a few companies that have fallen off the Collaborative Economy honeycomb, including Homejoy, Sidecar, TheStorefront, Zirtual, Spoonrocket, and others listed in the Salon article. With that said, there were acquisitions as the market merged, including: Blablacar acquired Carpooling.org, Expedia acquired HomeAway, Outerwall acquired Gazelle, and defunct Sidecar sold its assets to GM.

What it Means to Enter the Contraction Phase

This is normal, alike every tech cycle. I’ve been in Silicon Valley for nearly 20 years and have experienced three tech cycles: dotcom, social media/web 2.0, and now the Collaborative Economy. In each phase, we see the same patterns of market initiation, massive funding of clones, a shakeout, the consolidation, integration, and then maturation. The Gartner Hype cycle’s universal framework indicates we’re now near the “Trough of Disillusionment,” and preparing for the “Slope of Enlightenment” which suggests market maturity with fewer players.

Market consolidation means the leaders will get even more acceleration. The Honeycomb graphic, is our attempt at representing global startups in each sector, sorted by industry hexes. We had to prune out existing startups as some hexes like Transportation, Space, and Money were so crowded with clones, they wouldn’t all fit. Furthermore, as startups hit the deadpool, the remaining startups would gain even more acceleration as they can clinch more of the market––making it even more difficult for new entrants. If a startup is in the lead –they’re likely to stay in the lead.

The market is scrutinizing profitability of startups, as we enter this next phase. While investments are still occurring, the rate of heavy investments in 2015 seems to be slowing. In earlier market phases, startups were rewarded with large valuations for market adoption––but not measured on profitability or to get “in the black”. Now, the Collaborative Economy startups will need to make their balance sheets work in order to get closer to their gigantic valuations.

So what does the future hold?

Expect a Honeycomb with just about the same amount of hexes, but we’ll see less logos in each hex as the market weens off performance strugglers. Perhaps we’ll make the logos larger of the dominant players as these startups continue to integrate. They’re already integrating within city landscapes, brokering with governments and partnering with large corporations for business deals. Soon, we’ll be entering the next phase: Normalization.

(Image used with creative commons license from Morgan Schmorgan)

Honeycomb 3.0: The Collaborative Economy Market Expansion

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The Collaborative Economy enables people to get what they need from each other. Similarly, in nature, honeycombs are resilient structures that enable access, sharing, and growth of resources among a common group. Our latest version of the Honeycomb framework, Honeycomb 3.0, shows how the Collaborative Economy market has grown to include new applications in Reputation and Data, Worker Support, Mobility Services, and the Beauty Sector.

Get the Honeycomb: Register to Receive a High-Res Version
This is a market map to help you understand how every industry can benefit from the Collaborative Economy by partnering with new startups. Advance to the registration page, or click on the image below to see the larger version.

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Our Research and Design Process
Honeycomb 3.0 was a large undertaking. At least 460 startups were reviewed, and 280 were chosen to be included in Honeycomb 3.0.

We researched and analyzed the impacts of new startups within the sharing economy since the publishing of Honeycomb 2.0 in December 2014 (and, before that, the original Honeycomb in May 2014). This time around, we specifically focused more on international startups, startups that are on the upswing, and those receiving a lot of funding. The goal was to take a current snapshot of the “A-list” companies in the space.

Determining which startups to include required reviewing vendors included in previous Honeycomb versions, startups included in our funding spreadsheet, the overall market, and suggestions from our network. Each startup that was considered was evaluated separately for meeting sharing economy criteria, its relevance to the market, its function, and location.

This process led to uncovering new trends in the sharing economy and establishing new categories, subcategories, and some re-organization of previously established categories. There was also some startups from previous Honeycomb versions that no longer exist or had been cannibalized, so they were removed.

Honeycomb 3.0 is not intended to be a complete market picture, as there are thousands of other startups out there. We chose those that we found best met our criteria. You can use the blank template below to fashion your own version, too.

Make Your Own Honeycomb, with this Blank Template

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You can create your own honeycomb, for your specific region or industry sub-category, or simply one that’s focused on your view of the world. We’d love to share it, collaborate, and make this a resource for everyone.

Additional Resources

 Startups and Services featured in the infographic:

Analytics and Reputation
Driver Services
Ridescout http://www.ridescout.com
What’s the Fare http://www.whatsthefare.com/
Identity and Reputation
eRated http://www.erated.co
HireRight http://www.hireright.com/
Karma https://havekarma.com
Onfido https://onfido.com/us
Traity https://traity.com/
TrustCloud https://trustcloud.com
Veridu https://veridu.com
Vijilent http://www.vijilent.com
Renter Services
Beyond Pricing https://beyondpricing.com/
Everbooked https://www.everbooked.com/
Kigo (RateCoaster) http://kigo.net/
Smart Host http://vr.smarthost.me/
Corporations & Organizations
Employee Services
Slice Rides http://www.slicerides.com
Twogo https://www.twogo.com
Platforms
Button http://www.usebutton.com
Cloud Commerce Factory http://www.cloudcommercefactory.com/
Crowdtap http://home.crowdtap.com/
eYeka https://en.eyeka.com/
Innoverne http://www.innoverne.com/
Juggernaut http://nextjuggernaut.com
Marketplacer http://marketplacer.com/
Mila https://www.mila.com/
Nearme http://near-me.com
Sharetribe https://www.sharetribe.com/
Tilt https://www.tilt.com
Supply Chain
Cargomatic https://www.cargomatic.com
LocalMotion https://www.getlocalmotion.com
WoNoLo http://wonolo.com
Food
Food Delivery
Farmigo http://www.farmigo.com/
GrubMarket https://www.grubmarket.com/
Saucey https://sauceyapp.com/
SpoonRocket https://www.spoonrocket.com/
Sprig https://www.sprig.com/
UberEats https://ubereats.com/eats/sf/
Shared Food
Bon Appetour https://www.bonappetour.com/
Eatwith http://www.eatwith.com
Feastly https://eatfeastly.com
Leftoverswap http://leftoverswap.com
Mealsharing https://www.mealsharing.com
Vizeat https://www.vizeat.com
Shared Food Prep
Barnraiser https://www.barnraiser.us/
Kitchen Surfing https://www.kitchensurfing.com
Kitchit http://www.kitchit.com
Munchery https://munchery.com
Rub & Stub http://spisrubogstub.dk/en/
The Food Assembly https://laruchequiditoui.fr/en
Goods
Loaner Products
Bagborrowsteal http://www.bagborroworsteal.com
Hey, Neighbor! http://web.heyneighbor.chat/
Open Shed http://www.openshed.com.au/
Peerby https://www.peerby.com/
Pley https://www.pley.com
RentTheRunway https://www.renttherunway.com
Rocksbox https://www.rocksbox.com
Maker Movement
Brit + Co https://www.brit.co/
CustomMade http://www.custommade.com
Etsy https://www.etsy.com
Make http://makezine.com/
Maker’s Row http://makersrow.com/
Shapeways http://www.shapeways.com
Techshop http://techshop.ws
The Grommet https://www.thegrommet.com
Pre-Owned Goods
Craigslist http://sfbay.craigslist.org
Ebay http://www.ebay.com
Kijiji http://www.kijiji.ca
Moveloot https://www.moveloot.com
OfferUp https://offerupnow.com/
Poshmark https://poshmark.com/
TradeMe http://www.trademe.co.nz
Wallapop http://us.wallapop.com/
WarpIt https://www.warp-it.co.uk
Yerdle https://yerdle.com
Health
P2P
Bemyeyes http://www.bemyeyes.org/
CoHealo http://cohealo.com
Crowdmed https://www.crowdmed.com/
Helparound http://helparound.co
Services
Curbside Care https://www.curbsidecare.co/
Dispatch Health https://www.dispatchhealth.com/
Doctor on Demand http://www.doctorondemand.com/
Eaze http://www.eazeup.com
Heal http://getheal.com
Medicast https://www.medicast.co
Medneo http://medneo.de
MedZed http://www.mymedzed.com/
Pager https://pager.com/
RetraceHealth https://retracehealth.com/
Stat http://signup.stat.com
Learning
Book sharing
Chegg http://www.chegg.com
Sidewalk http://www.gosidewalk.com/
Zookal https://www.zookal.com/
Instructor-Led
Coursera https://www.coursera.org
Khan Academy https://www.khanacademy.org
SimpliLearn http://www.simplilearn.com
Thinkful http://www.thinkful.com/
Udacity https://www.udacity.com
Udemy udemy.com/about/
Peer-to-Peer
Gibbon https://gibbon.co
Instructables http://www.instructables.com
Maven http://www.maven.co
P2P University https://p2pu.org/en/
Sharing Academy http://sharingacademy.com
Skillshare http://www.skillshare.com
uTest https://www.utest.com/
Logistics
Local Delivery
Deliv https://www.deliv.co
Favor https://favordelivery.com/
Ghosttruck http://www.ghostruck.com
Instacart https://www.instacart.com
Kanga http://getkanga.com
Lugg http://lugg.com/
Postmates https://postmates.com
Shadowfax http://shadowfax.in/
UberRUSH http://blog.uber.com/RUSH
Shipping
BellHops https://getbellhops.com
Nimber https://www.nimber.com
PiggyBee http://piggybee.com
Roadie https://www.roadie.com/
Sheaply http://sheaply.com/eng/pages/display/home
Shipster http://shipster.co
Shyp http://www.shyp.com
Transfix http://transfix.io
Storage
MakeSpace https://www.makespace.com
Roost https://roost.com
Stashbee http://www.stashbee.com
Mobility Services
Rides as a service
BlaBlaCar http://www.blablacar.com
Bridj http://www.bridj.com/#home
Chariot https://www.ridechariot.com
Didi Kuaidi http://www.xiaojukeji.com/
Easy Taxi http://www.easytaxi.com/
Flywheel http://www.flywheel.com/
Gett http://gett.com/nyc/
Grab (GrabTaxi) https://www.grab.co/sg/
Hailo https://hailocab.com
Juno https://www.gojuno.com/
Lazooz http://lazooz.org
Loup http://loupapp.com/
Lyft https://www.lyft.com
OlaCar http://www.olacabs.com
RallyBus http://rallybus.net/
Shuddle https://shuddle.us/
Surfair https://www.surfair.com
TianTian http://ttyongche.com/
Uber https://www.uber.com
Wingz https://wingz.me/
Support
CARMAnation https://www.carmanation.com/
Filld http://filld.co/
JustPark https://www.justpark.com/
Purple http://purpledelivery.com/
YourMechanic https://www.yourmechanic.com/
Valet Services
Caarbon http://caarbon.com/
Luxe http://www.luxe.com/
Valetanywhere http://www.valetanywhere.com/
ZIRX http://zirx.com/
Money
Crowdfunding
Circle Up https://circleup.com
Crowdfunder https://www.crowdfunder.com
Experiment https://experiment.com
FundingCircle https://www.fundingcircle.com
Gofundme http://www.gofundme.com
Indiegogo https://www.indiegogo.com
Kickstarter https://www.kickstarter.com
OurCrowd https://www.ourcrowd.com
Pave https://www.pave.com
Cryptocurrencies
Bitcoin https://bitcoin.org/en/
Coinbase https://www.coinbase.com
Dash https://www.dash.org/
Litecoin https://litecoin.org
Ripple https://ripple.com/
Moneylending
Able https://www.ablelending.com/
Faircent https://www.faircent.com/
Kiva http://www.kiva.org
LendingClub https://www.lendingclub.com
Prosper https://www.prosper.com
RateSetter http://www.ratesetter.com
Zopa http://www.zopa.com
Municipal
City Sponsored Bikes
Bicing Barcelona https://www.bicing.cat/
Hangzhou Public Bicycle https://en.wikipedia.org/wiki/Hangzhou_Public_Bicycle
Santander Cycles London https://tfl.gov.uk/modes/cycling/santander-cycles
Velib http://en.velib.paris.fr
Platforms
Getable http://www.getable.com/
MachineryLink https://www.machinerylink.com/
Munirent https://www.munirent.co
SeeClickFix http://www.seeclickfix.com/
YardClub http://www.yardclub.com
Services
Business
99Designs http://99designs.com
Cloudpeeps http://www.cloudpeeps.com
Crowdspring http://www.crowdspring.com
FieldAgent https://fieldagent.net/
Gigwalk http://www.gigwalk.com/
HourlyNerd https://hourlynerd.com/
Kaggle https://www.kaggle.com/
Nabbesh http://www.nabbesh.com/en/
Payable http://payable.com/
StaffJoy https://www.staffjoy.com/
Universal Avenue www.universalavenue.com
UpCounsel https://www.upcounsel.com/
Upwork https://www.upwork.com/
Personal
Airtasker https://www.airtasker.com/
Ask for Task https://www.askfortask.com/
Bannerman https://getbannerman.com
DogVacay https://dogvacay.com/
Fancy Hands https://www.fancyhands.com/
Fiverr https://www.fiverr.com
Musketeer http://www.getmusketeer.com
Taskrabbit https://www.taskrabbit.com
WeGoLook https://wegolook.com/
Zaarly https://www.zaarly.com/
Space
Personal Space
9flats http://www.9flats.com/
Airbnb http://airbnb.com
CanadaStays https://www.canadastays.com/
Couchsurfing https://www.couchsurfing.org
Flipkey https://www.flipkey.com/
hipcamp https://www.hipcamp.com/
Homeaway http://www.homeaway.com
Homeexchange https://www.homeexchange.com/en/
HouseTrip https://www.housetrip.com/
Love Home Swap http://www.lovehomeswap.com
Nightswapping http://app.nightswapping.com/en/
Onefinestay http://www.onefinestay.com
Tujia http://tujia.com/
Xiaozhu http://www.xiaozhu.com/
Work Space
Breather http://breather.com
CoPass https://copass.org/
HiRise http://gohirise.com
Liquidspace https://liquidspace.com
PeerSpace http://www.peerspace.com
Pivotdesk https://www.pivotdesk.com
Sharedesk http://www.sharedesk.net
Storefront https://www.thestorefront.com
WeWork http://www.wework.com/
Utilities
Energy
GridMates http://www.gridmates.com/
Solar Mosaic https://joinmosaic.com
Vandebron https://vandebron.nl/
Yeloha http://www.yeloha.com/#howitworks
Telecommunications
Fon https://corp.fon.com/en
Open Garden http://opengarden.com/
Serval Project http://www.servalproject.org
Vehicle Sharing
Loaner Boats
Boatbound https://boatbound.co
Boatsetter https://www.boatsetter.com
Sailo https://www.sailo.com/
Loaner Vehicles
Atzuche http://www.atzuche.com/
CambioCar http://www.cambio-carsharing.de/
Car2Go https://www.car2go.com
DriveNow https://us.drive-now.com
easyCar Club https://carclub.easycar.com/
Flightcar https://flightcar.com
Getaround https://www.getaround.com
Scoot http://www.scootnetworks.com
Sharoo https://sharoo.com
Turo (RelayRides) https://turo.com/
YongChe http://www.yongche.com/
Zipcar http://www.zipcar.com/
Wellness & Beauty
Beauty
BeGlammed https://beglammed.com/
Belita http://www.belitaindia.com/
GlamSquad https://www.glamsquad.com/
MyGlamm http://www.myglamm.com/
Priv http://www.gopriv.com/
Swipecast http://www.swipecast.com/
Wellness
ClassPass https://classpass.com/start
Coachup https://www.coachup.com
Entrenaya http://www.entrenaya.com/
Kindly http://kindlychat.com
PopExpert https://www.popexpert.com
Vint https://www.joinvint.com
Zeel https://www.zeel.com/
Worker Support
Insurance
Friendsurance http://www.friendsurance.com/
Guevara https://heyguevara.com/
MetroMile https://www.metromile.com/
Renter Services
GuestHop http://guesthop.com/
Guesty https://www.guesty.com/
HostTonight https://www.hosttonight.com/
Pillow https://www.pillowhomes.com
TurnKey Vacation Rentals http://turnkeyvr.com/
Resources
Breeze https://www.joinbreeze.com
Freelancers Union https://www.freelancersunion.org/
Peers.org http://www.peers.org/
SherpaShare https://www.sherpashare.com/
StrideHealth https://www.stridehealth.com/
Vugo http://www.govugo.com/

2016 Brings Additional Enrichment, Growth to Crowd Companies Innovation Council

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It’s almost a new year, and we have a lot planned for 2016 to help our members grow their Collaborative Economy programs here at Crowd Companies, which we founded two years ago. I wanted to share with you five items that we’re focused on:

  1. Content and discussions that focus on “how to” deploy in innovative markets,
  2. Leading our members through the six-phase Innovation Journey methodology,
  3. Over five physical events, plus private roundtable dinners for members,
  4. An additional topic focus, the “Autonomous World” (drones, self driving cars, AI)
  5. New employees, to serve our growing member base

Next year, we’ll focus even more on the “how to” of program development, providing the in-depth tools you need to determine opportunities and begin defining initiatives related to the Collaborative Economy, innovation, and other disruptive technologies. To do this, we have a number of offerings planned:

Building Out “Crowd Innovation Journey” Resources, a Roadmap for Business Change
If you attended our October Main Event in San Francisco, you’ll remember our Innovation Journey, a framework we developed to guide members through the six stages of program development, prototyping, and deployment (see below). 

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In 2015, we began organizing existing Vault resources by phase of Innovation Journey, and in 2016 we’ll be building out a series of useful tools that align with the initial stages of this journey. These tools may include:

  • Member Program Spotlights
  • Company Adoption Survey
  • Feasibility & Readiness Diagnostic
  • Use Cases by Industry Vertical
  • Business Case Template
  • Partner/Supplier Tools
  • Collaborative Economy Business Models Report

Hosting In-Person Events and Online Session, Group Calls
We have five in-person events planned for 2016 (with some additional regional roundtables in the works), in addition to your monthly session calls with industry thought leaders and group calls with fellow members. These events are included in your membership:

  • Tour and Salon: Future of Mobility in the Age of the Autonomous World, Jan. 21 | 3:30pm – 8:00pm | Silicon Valley
  • SXSW Brunch Member Panel and Social, March 12, 2016 | Austin, Texas
  • Spring Summit: Co-innovation for your Brand, April 28, 2016, with optional evening tour April 27 | Hallmark HQ, Kansas City, Missouri
  • European Summit: The Global Collaborative Economy, June 22, 2016 | BMW HQ, Munich, Germany
  • The Main Event, October 5-6, 2016 | San Francisco
  • Regional Roundtables,  Feb in NYC | Others to be determined

Expansion of Crowd Companies’ Topic Coverage: Autonomous World
As previewed by our kickoff event of the year, Crowd Companies will be broadening its coverage in 2016 to include additional topics that affect our innovative members. The council will continue to support its members as they deploy Collaborative Economy programs, while also expanding its focus to assist members as they adapt their business models to other tangential technologies that stem from these crowd movements.

The first focal point you’ll begin to see content and resources emerge around is what we’re calling the “Autonomous World” where robotic hardware and software perform tasks once performed by humans, often using the same business models from the collaborative economy. In January, we’ll be hosting a member event where we’ll examine the impact of self-driving vehicles, drones, and artificial intelligence on all industries and society as a whole. Also release a research report for members and and a related infographic for public consumption.

Adding a New Member Success Manager to our Crew
Finally, we’re pleased to announce the newest Crowd Companies staff member, Carl Bohlin, whose primary goal will be to understand our members needs, and strategically matching them to a variety of innovation resources that the council offers. Crowd Companies has over 200 members, spanning 50 companies, across multiple countries, as such, Carl will work with Angus on member success initiatives to assist the council in its growth along the Crowd Innovation Journey. He has more than 7 years experience in managing peer-to-peer councils at Forrester and Giga, and has a background in IT and financial services. Carl joins us on the east coast.

If you work for a large company, and want to learn more about membership, please submit your details to our online submission form2015 flew by, and I’m looking forward to growing with you all in 2016. Let’s keep the momentum going. Cheers to you and your loved ones in a prosperous new year!

Warm Regards,
Jeremiah

Why a Strong Brand Matters in the Collaborative Economy

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In a recent webinar, I joined Andrew Reid, founder of Vision Critical, to discuss the new rules of the Collaborative Economy. The webinar explored three paths established companies can take to successfully compete with the likes of Uber, Airbnb and Instacart: through price, convenience and brand.

As we revealed in the webcast and in the accompanying report, brand is the most useful path for companies with strong brand recognition and positive brand sentiment. This is particularly true in markets where customers are sensitive to risk.

This finding might seem counterintuitive. Afterall, startups—the small guys—have driven the growth of the Collaborative Economy. But our report, based on feedback from more than 50,000 North Americans, clearly shows that in almost all categories of the Collaborative Economy, a single player dominates the market. That’s why Uber is practically synonymous with ride-sharing, Kickstarter with crowdfunding and Airbnb with house-sharing.

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Positive brand recognition is huge for top players in the Collaborative Economy. For instance, more than 40 percent of North Americans have heard of market leaders like eBay, Craigslist and Uber. Many of these same players also have positive reputations, as the infographic below shows.

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In short, the scrappy innovative startups of the Collaborative Economy have become big brands themselves.

The big lesson: your brand still matters in the Collaborative Economy. The rise of on-demand technologies doesn’t change the fact that brand recognition and market dominance are still closely related. In fact, across all age groups, brand is as important as convenience in determining whether a customer will consider sharing or buying. Brand trust determines whether buyers will choose traditional buying over sharing, and vice versa.

The enduring importance of brands is good news for established companies. Here are three strategies for companies that want to take advantage of their brand name in the collaborative economy.

  1. Partner with companies that have strong positive brand sentiment. This provides a level of brand trust, which is useful in encouraging people to try your initiatives in the collaborative economy.
  2. Leverage your own brand to increase your collaborative capacity. Determine if your brand has strong positive recognition, and if it does, make sure your brand is front and center as you launch sharing programs.
  3. Focus on customer experience to build your brand. For companies that are already well known, providing a high caliber of customer experience assures the continued strength of your brand—a necessary step in attracting customers in an era of collaborative consumption. Engage with your customers frequently to identify ways of providing a more seamless experience, and build your brand over time using customer insight.

For a deeper dive on the use of brand as a competitive advantage in the collaborative economy, watch a recording of the webinar The New Rules of the Collaborative Economy.