Sharing Economy Overview (03:43)
Using and borrowing instead of owning is becoming a market trend. Technology based business models were pioneered in San Francisco, where a diverse and innovative workforce attracts Silicon Valley venture capital. Journalist Neal Gorenflo discusses its development since 2010. (Credits)
Supported by the city, many San Francisco residents share their private cars through internet platforms to cover car expenses and earn supplemental income. Sharing companies create jobs and boost entrepreneurship by providing a platform to build a client base.
A San Francisco micro entrepreneurship startup helps local service people build businesses through marketing. It builds online trust between business owners and clients for offline transactions.
Micro Entrepreneurship (02:30)
View a furniture maker's video on Zaarly. By connecting local service people to clients, the software company helps them make a living in small scale production. However, some worry the sharing economy is turning people into 24 hour economic beings—eroding leisure time.
Promoting a Shared Lifestyle (03:36)
In Seoul, the sharing economy helps address social problems and improve sustainability. The city dictates sharing culture and the mayor tries to bridge class and income gaps. Sharing increases community and housing efficiency, and reduces stress.
Woo Zoo Housing Project (03:23)
Seoul is renovating old apartments for sharing communities, providing affordable rent for young people. Each building has a hobby theme to promote interaction. A young woman shows her room.
Creating Student Housing (02:15)
The Woo Zoo housing project promotes social interaction among young people. Seoul city officials are also recruiting widows and widowers to sublet rooms.
Youth Suicides (03:53)
Young people are under pressure from school, family, and society. Seoul installed high railings and positive messages on Mapo Bridge to discourage jumping.
Declining Suicide Rate (02:18)
Nearly 1,000 people have committed suicide by jumping from Seoul's bridges. Family members mourn at Mapo Bridge; rescue workers save a young man. The mayor says the sharing economy is creating community and reducing isolation.
Social Dining Platform (02:13)
Seoul's mayor believes he can reduce social isolation among young people through sharing economy programs. The city subsidizes 50 startups, including one where participants go online to arrange meal sharing.
Rebound Effect (02:06)
Seoul residents can borrow books, tools, and camping gear at state supported cafes. It is unknown whether the sharing economy will conserve resources; saving money on certain items may compel consumers to increase spending elsewhere.
Airbnb Origins (02:05)
The San Francisco vacation rental company is a poster child for the sharing economy. The founders began by renting a room to design conference attendees. A positive response inspired them to build a platform enabling travelers to stay in private homes.
People-Powered Model (02:24)
Valued at $10 billion, Airbnb is a liaison for hosts and guests. Founders believe the sharing economy will promote economic justice and community. The Mushroom Dome is a unique property attracting visitors from around the world.
Airbnb Success Story (02:02)
Visit the Mushroom Dome, a converted tree house near San Francisco. The property owner enjoys hosting people from around the world as well as the supplemental income.
Shared Economy Competition (03:30)
Airbnb hosts use a template to describe property; the company provides a free photographer and receives booking commissions. A Hamburg man prepares to rent out a room. Users market themselves truthfully and rate one another; control mechanisms aid transparency.
Challenging Classical Business Models (02:26)
Berlin hotels are mobilizing against the sharing economy. Airbnb makes it hard to regulate safety standards. The city has passed legislation forbidding incorrect apartment usage to address housing shortages.
Airbnb Taxation (02:25)
Some cities like Berlin consider the sharing economy a threat. Cofounder Nathan Blecharczyk attends a host meeting and discusses bureaucratic barriers to hosts being considered business owners. The startup pays a 14% hotel tax on bookings in San Francisco.
European Sharing Economy Outlook (04:51)
Startups call for streamlining regulation; governments are slow to respond. Public policy must address tax, insurance, and urban planning issues. Harald Heinrichs addresses Green Party members about subsidizing micro entrepreneurs.
Credits: The Sharing Economy: More Than Just a Trend? (00:28)
Credits: The Sharing Economy: More Than Just a Trend?
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