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Circular Economy Innovation & New Business Models Dialogue

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Circular Economy Innovation & New Business Models Dialogue

Young Global Leaders Sharing Economy Dialogue Position Paper 2013

World Economic Forum,

5 min read
5 take-aways
Audio & text

What's inside?

Sharing is caring – and enriching: The sharing economy is a $350 billion sensation that’s just getting started.

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Editorial Rating

7

Recommendation

The sharing economy is a $350 billion sensation that reflects new levels of consumer empowerment. From Airbnb to Zipcar, with stops at CouchSurfing and TaskRabbit along the way, firms in the collaborative economy encompass a wide variety of niches and business models. This intriguing report from the World Economic Forum nicely outlines the rise of the sharing economy and sings its praises but also displays a distinct lack of skepticism. For instance, is running errands for $15,000 a year as a TaskRabbit really a way to participate in an advanced, collaborative economy, or is it a ticket to near poverty? Despite some unanswered questions, getAbstract recommends this study to anyone interested in how the sharing economy could change the way consumers and businesses interact.

Summary

Why buy when you can share? This question underpins the sharing economy, a fast-rising, bustling sector that’s, at least in part, based on exploiting underutilized and shareable assets – “space, skills, stuff and time” – for the benefit of the many. Technology has spurred innovators to seek ways to squeeze more value from idle assets. Just as eBay and Craigslist allow people to sell unwanted items efficiently, a new generation of companies – such as Zipcar, Airbnb and TaskRabbit – lets consumers rent assets like cars, accommodations and workers, only when needed. Resource constraints...

About the Author

April Rinne is chief strategy officer at Collaborative Lab, a consultancy specializing in the sharing economy.

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