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UMKC Innovation Center
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Collaborative Economy
By Sarah Mote
April 29, 2016

Jeremiah Owyang Speaks on the Collaborative Economy

Self-driving cars are the future, and will be fully on the market by 2022, according to Jeremiah Owyang, founder of Crowd Companies. Owyang spoke to a group of corporate leaders and entrepreneurs at Hallmark on April 27.

Owyang focuses on disruptive technologies, such as social media, the Internet of things and more to help corporations understand the relevance of these technology breakthroughs to their customer relationships. Crowd Companies is an innovative club for Fortune 1000 companies, helping large companies tap into the collaborative economy.

“Power is shifting to the crowd,” Owyang said in his opening remarks. He noted four eras:

  • 90s: Internet era
  • 2000s: Social Media era
  • Now: Collaborative Economy era
  • Future: Autonomous World Age era

What is a collaborative economy? It’s a new economic model that promotes shared ownership and access among people, startups, corporations, and governments. Think bartering on steroids.

The collaborative economy is all about peer-to-peer commerce, using technology to connect those who make and serve with those who want to purchase and experience. It’s a big market: $32 million has been invested in collaborative economy companies.

Uber, airbandb and crowdfunding are probably the most recognized leaders in the collaborative economy, but there are hundreds more setting up platforms to connect providers and partakers.

  • Uber and Lyft help passengers connect with drivers of vehicles for hire and ridesharing services
  • AirBNB enables the crowd to be a hotel
  • Lending Club enables the crowd to be a bank
  • Yerdle helps folks trade products, building up credit, everything is free
  • LiquidSpace helps you find meeting rooms, office rentals & co-working spaces booked by the hour or for the day.

And the sharing economy has hit the KC economy as well. Just two examples: KC-based Member Jets makes private plane flights more affordable and the Swapping Company provides a platform for fashion resale

Owyang noted that digital trust is a key component. As these platforms cut out the middle man, corporations will have to adjust and restrategize to find their place.

Owyang touched on the coming trend where intelligent technology will create new services. He focused on expected changes in mobility, starting with self-driving cars and how that would impact dozens of industries from media to government.

Following the talk, startups from Digital Sandbox KC and TechStars were featured during a reception and showcase. About 50 people attended.

For more info, check out . . .
The Collaborative Economy (Jeremiah Owyang on Slide Share)



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