Jeremiah Owyang joins FIR co-host Shel Holtz for a discussion about Owyang’s latest report for the Altimeter Group on the collaborative economy. The report focuses on the impact on business of the movement toward people sharing products and services, disintermediating the manufacturer or service provider. AirBnB—a marketplace for individuals to rent out their own properties so people don’t need to use hotels—is one example. Another is ZipCar, the U.S.-based service that lets people use a car only when they need it. According to the report, “Every car-sharing vehicle reduces car ownership by 9-13 vehicles; a revenue loss of at least $270,000 to an average auto manufacturer. The cascading impact to the ecosystem has far reaching impacts to auto loans, car insurance, fuel, time impacts, environmental impacts, auto parts, and other services. For corporations, the direct impact is that consumers can now purchase one product, and share it among many others, reducing revenue in traditional business.”
In the interview, Owyang discusses the key points of the report and shares several examples, along with a discussion of the ways organizations might embrace the disruptive nature of collaboration to remain viable and profitable.