sharing economy

is a high-impact capital economic system that opens up opportunities to use assets and skills to their full capacity.

2. High-impact capital: the sharing economy opens new opportunities for everything, from assets and skills to time and money, to be used at levels closer to their full capacity.

is a largely market-based economic system. It creates higher-levels of economic activity by creating markets for the exchange of goods and bringing about new services.

In the introduction, I provided a number of examples that fall under the umbrella of what I call the 'sharing economy' or 'crowd-based capitalism,' terms I use more precisely (and interchangeably) to describe an economic system with the following five characteristics: 1. Largely market-based: the sharing economy creates markets that enable the exchange of goods and the emergence of new services, resulting in potentially higher levels of economic activity.

is about access without ownership and networks replace hierarchies.

Getaround is growing rapidly, fuelled in part by over $40 million in venture financing, and a bet that its 'Instant' model where you can get a car as soon as you book it without owner approval is what will really shift behavior from buying to sharing. Its peer-topeer rental model is a central part of the sharing-economy narrative, the perfect confluence of two ideas: access without ownership and networks replace hierarchies.

is also called crowd-based capitalism, the collaborative economy, the gig economy, the peer economy, the renting economy, and the on-demand economy.

Although I find 'crowd-based capitalism' most precisely descriptive of the subject matter I cover, I continue to use 'sharing economy' as I write this book because it maximizes the number of people who seem to get what I'm talking about. It is interesting, nevertheless, to consider the range of labels associated with these new economic systems. Beyond Owyang's 'collaborative economy' favored over 'sharing economy' by the authors Rachel Botsman and Robin Chase, and, somewhat ironically, by OuiShare writers and thinkers since 2010 have experimented with the use of the terms 'gig economy,' 'peer economy,' 'renting economy,' and 'on-demand economy' (the latter deemed most accurate by the venture capitalist Chris Dixon11).

is an economic system that blurs lines between full employment and casual contract labor.

5. Blurring lines between fully employed and casual labor, between independent and dependent employment, between work and leisure: many traditionally full-time jobs are supplanted by contract work that features a continuum of levels of time commitment, granularity, economic dependence, and entrepreneurship.

is an economic system that blurs lines between the personal and the professional.

4. Blurring lines between the personal and the professional: the supply of labor and services often commercializes and scales peer-to-peer activities like giving someone a ride or lending someone money, activities which used to be considered 'personal.'

is an economy based on extracting value from underutilized assets by making them accessible online to a community, leading to a reduced need for ownership of those assets.

Alex Stephany as he was writing his 2015 book, 'The sharing economy is the value in taking underutilized assets and making them accessible online to a community, leading to a reduced need for ownership of those assets.'

is an economy in which goods become services. That is, owning a car suddenly means owing the ability to be an uber driver.

He then explains each of the five limbs of his definition: (1) value (the exchange creates economic value, either through the use of money or through barter)... (2) underutilized assets (akin to Botsman's idling capacity)... (3) online accessibility (the enabling power of the Internet)... (4) community (the facilitation of more fluid exchange through community trust, social interaction, or shared value), and (5) reduced need for ownership (goods become services).

sharing economy, n.Definitions

sharing economy