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December 22, 2016


I just attended the Women’s Forum in Deauville, France where the theme was about this new economy—the sharing economy.

Yes we are already familiar about Uber and Airbnb which are very recent developments in renting cars and apartments.

We also are familiar with apps that give us free music or movies. Netflix, HBO and more.
This is indeed the era of sharing rather than owning. When was the last time you bought a DVD of a movie? Or bought a CD of a singer or band you enjoy ? That is virtually unheard of if you’re a millennial. Or 21 years old. You are not familiar with having to own stuff. But you know that you can access anything you need through your mobile phone.

This is the new economy. It is where people do not own things. They merely share someone else’s property rather than having to buy it.

The new world order forces companies (who still think in the old manner) to change, adapt or die.

The changes are fast and almost impossible to capture for studies or research. While you’re familiarizing yourself with a new app ,the next new idea is already being hatched in a hackathon ( a tech marathon where techies think of new ways and the apps developed to answer almost every need – an event that could take 24-48 hours of continuous innovative thinking , coding and a lot of trial and error).

It was so enriching to attend the Women’s Forum for the economy in Deauville, France where men who proclaimed they were feminists and women global CEOs and tech business leaders spoke about this new sharing ecosystem. We say ecosystem rather than economy because some developments do not even involve the exchange of money. Take for example an app called “be my eyes” that allows the blind or sight-challenged to read small print by taking a photo of the labels or words and using the app find someone to read it for you across the globe!
In Manila a lady who’s hearing impaired developed an app to warn someone if a stranger is closely following her from behind. Many hearing-impaired women apparently get raped or abused and are not warned because they cannot hear strange noise around them.

The new technology also allows us to enjoy pleasures usually just reserved for the privileged or something we may ever think of buying to own.

It’s not about ownership anymore. Rather it is about being practical in sharing assets with others. Ownership is getting outdated.

There are other novel ideas: a “connected home” where your rent is dependent on the amount of exercise you do. It’s like your Fitbit is connected to your lessor’s monitor!
So companies must adapt or die. Telcos become software companies. Facebook is no longer just a social site—it’s the world’s biggest news distributor—fake news and real news. And this is why we must be vigilant, too. It’s not just about making friends anymore.


That’s the reason why Uber, Airbnb and Netflix are so popular.

In Europe they also have Bla Bla Car which allows you to find a common vehicle to share for long distance drives.

What we find interesting in this development is the fact that these models succeed because of transparency and traceability . You know your Uber driver. Your know the Airbnb owner.
Second the rating system of these new applications and offerings is an automatic control over the consistency of service and rewards or penalizes the sharer. And it goes both ways. Provider and user are both rated.

How I wish these will also develop honesty and integrity among the new netizens and consumers. And hopefully also develop us into better citizens for a better world.

From Chit Juan’s fb account.

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