Saturday, November 2, 2013

Sharing Economy Panel

Great panelists discussing the emerging sharing economy and peer to peer marketplaces. Great discussion!   #cyberposium

Panelists (left to right)
Jing Yang - Moderator
Matthew Shampine - WeWork
Nick Grossman - Union Square Ventures
Karin Brandt - coUrbanize
James Slezak -
Alex Lofton -
Prof. Arun Sundararajan - NYU Stern School of Business

What is the Sharing Economy?

"What the Sharing economy needs is a shared definition."
   - Prof. Arun Sundararajan

"The average car spends 80% of its life sit. That has amazing utilization implications."
   - James Slezak

"Transaction costs for doing anything drive to zero with digital infrastructure. That opens up all kinds of new and exciting opportunities. It starts to blur the lines between professional and private activity."
   - Nick Grossman

How much does your community depend on trust?

"You have to have an inherent willingness to share . People need to be open and trusting. Trust and understanding of who you're surrounded by are key."
   - Matthew Shampine

"An area of trust that is emergent is trust with the platform. What are they doing with the data? How trustworthy are they with data about you?"
   - Nick Grossman

"Peer marketplaces enable new creation. People who are creating new things, offering themselves up as freelancers, the trust infrastructure is really central so they can realize their economic potential."
   - Prof. Arun Sundararajan

"Community members are fearful about what developers' true intentions are. We are changing that dynamic of trust by increasing transparency and collaboration."
   - Karin Brandt

How did we rediscover the sharing economy?

"There's an important element of humanity we are discovering that can really excite a consumer base. We just did a series of dinner parties around the sharing economy. We thought we'd get 25 people to host around the world. We got hundreds. Lots of people in Tulsa, Oklahoma. If you take a second to connect with people as people, they'll take it from there."
   - Alex Lofton

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