Sharing is an old idea, but its potential to generate economic opportunities is only just beginning – it’s a new type of enterprise that strives to make it easy for people to share resources.
No sharing economy without social media
These new services rely on the web, impersonal relationships, and they are based on ratings and reciprocal reviews from unknown people to build trust among their users. This type of business couldn’t work out before social media platforms:
We couldn’t have existed ten years ago, before Facebook, because people weren’t really into sharing – Nate Blecharczyk, Airbnb founder
Thanks to social media, people are generally more comfortable meeting new people using technology – David Lee, early investor in Airbnb
Further, some peer-rental services allows integrating Facebook to let owners and renters check whether they have friends – or friends of friends – in common.
Trust is so important to all these marketplaces:
Airbnb specifically uses a feature called social connections. If you’re a host and a guest wants to satay with you, we show how this guest is friends with other members of the Airbnb community who are more reputable. If a member doesn’t yet have a reputation on their site, they could still be associated with other people who are trusted in the Airbnb community, serving as its own social validator – Nate Blecharczyk, co-founder and CTO of Airbnb
What looks like a disruptive new model will probably end up being mixed into existing models and embraced by incumbents, as has often happened before. When new markets come in, they often look more democratising than they end up becoming.
The idea of renting from a person rather than a faceless company will survive, even if the early idealism of the sharing economy probably will not. The fact that regulators, tax collectors and big companies are now sniffing around a model that has been embraced by millions of people is a measure of its value and growth potential.
Short URL & title:
No sharing economy without social media – http://www.torbenrick.eu/t/r/pkj
If you enjoyed this article, please take 5 seconds to share it on your social network. Thanks!
Challenge to keep companies competitive – Perhaps the greatest challenge business leaders face today is how to stay competitive amid constant turbulence and disruption Change affects every company, but disruptions...