Trust - The Fuel That Powers The Sharing Economy
20
Trust – The Fuel That Powers The Sharing Economy Raghu Ramanujam Founder @ CEO @raghoo1
-
Upload
raghu-ramanujam -
Category
Economy & Finance
-
view
184 -
download
0
Transcript of Trust - The Fuel That Powers The Sharing Economy
Trust – The Fuel That Powers The Sharing Economy
Raghu Ramanujam
Founder @ CEO
@raghoo1
A Simple Idea
Sharing EconomyShared Economy: Collaborative Consumption: Peer to Peer Economy
Will Ownership turn out to be largely a hack people resorted to before they have the infrastructure to manage sharing properly?
- Paul Graham
What is mine is yours, for a fee
68%People Willing ToShare Own Assets
74%Cars Ride With Just ONE Person
75%People WillingTo Share Meals
66%People Willing To
Share From Others
Sharing Economy - The Drivers
Technology Innovation
Value Shift
EconomicRealities
EnvironmentalPressures
200,000 Monthly Rentals
on AirBnB
$ 2 MillionRides on the
Last Day of 2014
35 MillionPrivate Cars in India
Available For Ridesharing
2 MillionActive Monthly
User On BlaBlaCar
Sharing Is Everywhere
In Ownership Economy, Service Levels Are More Established
A Masala DosaAt The MTR
Service LevelOn OLA Cabs
Stay ExperienceAt The Hilton
In Sharing Economy everyone is a Service Provider
The Challenge
Source: TEDGlobal 2012, Rachel Botsman
The Ownership Economy has solved it well
Your Credit Score
The Sharing Economy needs a Credit Score equivalent
But Trust In The Sharing Economy Has Two Parts
Who You Are(Transferrable)
How Good You Are At Something
(Contextual)
A Unified Reputation Card
Safe Driver; Interesting Conversations, 80s Rock MusicPoolCircle Rating
Nice House, Needs More VentilationAirbnb Rating
Recipes Don’t Work For Me!Yummly Rating
• Stays at Brigade Gateway• Works at PoolCircle• 654 Facebook Friends• 1123 LinkedIn Connections• 17453 Twitter Followers
345 Transactions Across 5 Platforms
Raghu RamanujamMale, 44 – Bengaluru, India
Remember The Simple Idea?
Not So Simple
Timin
gs
Proximity
Sa
fety
Weekday/Weekend
Peak hour
LocationComfort
Network
Trust
Solve Safety, Crack Ridesharing
87% respondents cited Lack of trust as the biggest impediment in spite of strong intent to carpool
The Circle in PoolCircle
Peer RatingWhat Others Think About Your Service
Who You Are(Tranferable)
How Good You Are At Something
(Contextual)
How Trust Impacted Behaviour
0.00
0.20
0.40
0.60
0.80
1.00
1.20
1.40
1.60
1.80
2.00
Participation Interaction Initiated Interaction Received
Unconnected Corporate Affiliation Social Connections
A Unified, Transferable Reputation Score
Thank You
