A new economic model is emerging as the millennials are thinking smart about ways to make money on everything they own. As the “sharing economy” proliferates, peer to peer and point-to-point luxury cars are being used by the minute and sophisticated car owners are earning cash for their cars while at work. Instead of paying retail prices for top fashion, folks are using online platforms to choose and swap clothing with others. Vacationers are staying at people’s townhouses and mansions and even pitching tents in people’s gardens while homeowners turn a profit on renting out their assets.
Time and space limitations, uneasy economic times, and increasing sustainability and community values have collided to trigger a shift in in behavior, a new business philosophy. While “sharing” has been around for some time, mobile applications, advances in payment technologies and connected social networks are putting in place an infrastructure that supports trust and accessibility for community sharing – pushing this movement to a whole new level.
The impact is in the numbers. Car-sharing revenue is expected to reach over $3 billion by 2016 and peer-to-peer rentals are expected to expand to become a $26 billion industry. Perhaps most telling is the estimated total market for the sharing economy, which is projected to be $110 billion within the next few years. This market is emerging and continuing to expand at a rapid pace.
Join MIT-Stanford VLAB on May 21 for a dynamic discussion on collaborative consumption.
Topics of discussion are to include:
- What made Airbnb such a commodity, and will this work for others startups and in which verticals?
- How do the changes in auto sharing impact auto manufacturing?
- How do insurance models work in the “sharing economy”?
- What barriers are inhibiting this movement to scale?
- Should you trust just anybody with your home, car, dress, or power saw?
- The regulatory environment around this movement.
Kanyi Maqubela, Venture Partner, Collaborative Fund
Where: Stanford University – Oberndorf Event Center (Parking and Directions)
Knight Management Center, 3rd Floor
641 Knight Way
Stanford, CA 94305
When: Tuesday, May 21
6:30 p.m. – 7:30 p.m.: Networking and Refreshments
7:30 p.m. – 9:30 p.m.: Panel Discussion and Q&A
Register here for this upcoming event.
Event Twitter Hashtag: #VLABCollab
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