INVSTR INSIGHT: THE SHARING ECONOMY
The Sharing Economy is booming thanks to technological innovation and a desire to be more economical with our resources. Join Lea as she gets involved in the FT Sharing Economy Summit and meets some of the major players in this market place.
LEA JAKOBIAK (Reporter, invstr): We’re here at the famous Level 39 in Canary Wharf one of London’s biggest fintech hubs and we’re here to talk about a sharing economy which of course is booming thanks to the likes of Airbnb and uber. We’re meeting some of the other key players in this field.
DAVID POPE (marketing Director, Hooyu): So, it’s a way of one consumer connecting with another consumer to share assets and that asset can be a property it can be a car, it could be time, it could be skills, there’s many many facets of the sharing economy.
ROB VAUGHAN (STRATEGY MANAGER, PWC): We found the sharing economy within Europe is around 4 billion in terms of revenues at the moment, in terms of platform revenues, and in terms of the total amounts of value going through these platforms. We think it’s something like 28 billion euros.
JUAN PABLO DAMA (Chief Financial Officer, Fon): To give a an idea for a company and the growth of the company when we started ten years ago we had a few hot spots probably a year after we had 100 thousand and now we have 20 million.
LEA JAKOBIAK (Reporter, invstr): And another welcoming figure is that a third of all sharing economy entrepreneurs are women but as this sector is growing so rapidly regulation can be tricky.
RAVI MATTU (Editorial DIrector, F): What happens when you have transnational companies in this operation? It’s very hard to have one-size-fits-all approach and therefore the companies are having to doubt to very localized regulations like Airbnb in Paris has a different set of issues than air baby in London or San Francisco and at the same time you know these companies operate across borders in a very much more easy way then companies would have in the past.
ALEX STEPHANY (Author, The Business Of Sharing): We shouldn’t confuse the unfamiliar with the dangerous. We should look at new platforms. We should actually think about their specific risks or a good data to work out if these platforms need regulation or not but just because something is new and unfamiliar and in metaphor doesn’t mean that we should assume our form of consumption is hugely riskier than what it’s actually replacing
LEA JAKOBIAK (Reporter, invstr): So, while it may seem like an innovative concept for us today we will soon be taking it for granted.
CELINE LAZORTHES (CEO, MANGOPAY & Leetwell): I believe in a sense sharing economy we won’t talk about sharing economy anymore because it will be the way we consume, the way we produce, the way we educate, with the way we have hacks has to funding in 10 years. It will be absolutely different but now it’s just a massive trend. It will be the way of earthly people to behave in a couple of years.
LEA JAKOBIAK (Reporter, invstr): So, it sounds like we’ve only seen the tip of the iceberg when it comes to what the world of sharing economy has to offer.
Want to learn more about the markets and how to become a better investor?
Download the Invstr App now.
Invstr is a technology platform, not a registered broker-dealer or investment adviser. Invstr does not offer its own recommendations of any security or provide its own research to any user regarding any security transaction or order.
Please note, investing involves risk and investments may lose value. Past performance does not guarantee future results.
Brokerage services are provided by the following:
US-traded securities, including fractional trading, are provided to Invstr users by DriveWealth LLC, a regulated member of FINRA/SIPC. DriveWealth may not establish investment accounts to residents of certain jurisdictions. For more information, including disclaimers, risk and transaction fees click here.
India account traded securities are provided by SIC Stocks & Services PVT Ltd. SIC does not make any personal recommendations to buy, sell or otherwise deal in investments. Investors make their own investment decisions. The services and securities provided by SIC may not be suitable for all customers and, if you have any doubts, you should seek advice from an independent financial adviser. For more information and disclaimers, click here.