New York 8 November 2016

The Sharing Economy “The Shared Economy is more than just

an economic shift.”

The Sharing Economy, Page �1

New York 8 November 2016

The Sharing Economy “The Shared Economy is more than just an economic shift.”

I'm in New York again to talk about "the importance of our online reputation"... and as usual I'm staying in an Airbnb apartment. To move around Manhattan, for my meetings, I use Uber. Both companies are perfect examples in the 'sharing economy'.

What is it?

According to Wikipedia (which itself could be seen as a shared knowledge site), the Shared Economy is “a socio-economic system built around the sharing of human and physical resources.” That means that goods and services that were traditionally traded are shared and exchanged, creating an entirely new economic and social dynamic….I also liked this de notion: “The collaborative economy focuses on eliminating excess and waste in today’s overbuilt world.”

What does it represent?

The Shared Economy is more than just an economic shift. It is also a cultural shift. People are fed up with the culture of over- consumerism and they are realising that if they can share goods it not

The Sharing Economy, Page �2

New York 8 November 2016

only gives them a better quality of life, it’s also better for the planet. There are many combined factors behind it. Here are a few:

The global recession: People are cash poor, but own a lot of stuff and so if they can earn some money from sharing that stuff locally, it increases their income.

Too much waste: People are becoming aware that the culture of waste that developed over the 20th century is unsustainable. We’re destroying our planet with our constant desire for growth and expansion. By sharing resources, we contribute to a more sustainable lifestyle.

Too much stuff: People are starting to realise that more stuff doesn’t make you happier. If you look at the statistics, it’s shocking: every household in the developed world has, on average, $3,000 of unused items. But reconnecting with people around you, and sharing stuff – cars, homes, tools – and services in your local community, building new trust relationships, that does make you happier!

The Sharing Economy, Page �3