People Innovation Excellence

Behind The Rise of Sharing Economy (1)

By: Ignatius Enda Panggati

The Rise of The Sharing Economy

In the recent years, sharing economy (SE) became a phenomenal topic . Many SE startup companies grew tremendously in the past few years. There are many cases that showed the capabilities of SE startup companies. In 2013. In one night there are transactions from 40.000 people who booked rooms in 30.000 cities which scattered in 192 countries. All of the transactions could be done by single startup companies Airbnb. (The Economist, 2013). Since launched in 2008, Airbnb have more than 4 million users. Uber, a startup transportation companies , since launched in 2009. Now Uber have valuation US$ 1.820 billion, and operated in more than 130 cities all around the world. Those above are some of the cases of SE phenomena. Even TIME magazine listed SE as one of the 10 idea that change the world. This article tried to analyze what are the factors behind the phenomenal rise of SE. First, let’s talk about the definition of SE.

Definition

What is sharing economy (SE) ??…Some called it “sharing economy” or “peer to peer economy” or “collaborative consumption”.

There many definitions of SE. This article uses the SE definition by Hamari et al (2015). SE is the peer to peer based activity of obtaining, giving, or sharing the access to goods and services, coordinated through community based online services.

Development

How did SE grew very fast in the past years ? This article try to better understanding about what aspect that drive the development of SE. By analyzing some case studies, theory about SE. There are several aspect that contributed in the development of SE in the past few years.

Sharing

First of all is sharing. SE main activities revolving around sharing , and accessing, and obtaining. People love to share. Sharing is in our culture. Its became our traditions to share something, to give something to someone that we trust, we care as a token of our appreciation. SE is about sharing in many cases SE business model was easily accepted and grew in the market because sharing is in our culture.

Internet

The penetration of internet in the world grew tremendously. Internet have become part of our lifestyle.

Web 2.0

Web 2.0 technology is where the web is considered as a platform: the network becomes the operating system on which applications and programs running. web 2.0 tools enables collaboration among peers. (Consoli et al, 2011). The development of web 2.0 has enabled the development of online platforms that promote user generated content, sharing and collaboration (Kaplan & Haenlein, 2010). SE uses the web 2.0 technology to accommodated sharing, obtaining, and accessing to goods and services. So SE is not just about consumption but also involve activity of contribution and use of resources that are intertwined through web 2.0 peer to peer network.


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