Keynote Speaker: Robin Chase • Presented by SpeakInc • FUEL

Summary

In this video, the speaker explores the transformative potential of the 'peers incorporated' business model, exemplified by companies like Zipcar, Airbnb, and Duolingo. By leveraging excess capacity and fostering community collaboration, these models create scalable and adaptable solutions to modern challenges, particularly in addressing climate change. The speaker advocates for a shift towards platforms that enable participation and resource sharing, urging audiences to build businesses and systems that are resilient, innovative, and sustainable. With a focus on practical action, the video calls for a future where companies prioritize collaboration and shared success over traditional, centralized control.

Takeaways

• 😀 Excess capacity is a powerful resource that can be leveraged in new business models, such as Zipcar, where cars are used only 5% of the time but still generate costs.
• 😀 Zipcar disrupted the traditional car rental model by allowing customers to rent cars by the hour, addressing inefficiencies in how cars are owned and used.
• 😀 Building a platform for participation is key: Zipcar made renting a car as simple as possible with technology that empowered customers to self-serve.
• 😀 Zipcar treated its customers as collaborators, turning them into co-creators who helped shape the company’s services and experience.
• 😀 The rise of peer-to-peer businesses like eBay, Facebook, and Airbnb is a clear indication of how excess capacity can be harnessed through collaboration and technology.
• 😀 Companies like Skype used individuals' existing resources (like laptops and internet connections) to create massive platforms, eliminating the need for expensive infrastructure.
• 😀 Sharing, especially in terms of underused resources like cars or homes, is central to creating more efficient, scalable business models that are less resource-intensive.
• 😀 Airbnb's rapid success shows how quickly the sharing economy can scale by using existing resources, competing with major hotel chains in just a few years.
• 😀 The shift from traditional business models to peer-based, participatory structures represents a fundamental change in how we approach economic growth and resource use.
• 😀 The peer-to-peer model supports diversity, resilience, and rapid innovation by involving many different participants with varied expertise and ideas.
• 😀 The need for action against climate change is urgent, and adopting peer-based models can help create more sustainable and efficient solutions to global problems.

Q & A

What is the core idea behind Zipcar's business model?

Zipcar's core business model leverages excess capacity by allowing people to share underutilized resources, such as cars, in a way that provides a more cost-effective and scalable alternative to traditional car ownership.

What is meant by the term 'peers incorporated' in the context of modern business?

'Peers incorporated' refers to business models where individuals collaborate by contributing their own resources or efforts to scale the business. Examples include platforms like eBay, Skype, and Airbnb, where users help drive growth and innovation.

How does the sharing economy contribute to sustainability?

The sharing economy promotes sustainability by reducing waste, optimizing the use of resources, and encouraging collaborative consumption. Instead of each person owning resources like cars or homes, people share what they have, leading to a more efficient use of existing assets.

Why does the speaker emphasize the importance of community-driven platforms?

The speaker emphasizes community-driven platforms because they are scalable, adaptable, and capable of addressing global challenges, such as climate change. These platforms rely on the collective efforts of individuals, making them more resilient and innovative.

What is the relationship between the 'peers incorporated' model and climate change?

The 'peers incorporated' model offers scalable solutions that could help address climate change by promoting more efficient use of resources, reducing waste, and enabling global collaboration to innovate for environmental sustainability.

How does Airbnb exemplify the potential of the sharing economy?

Airbnb exemplifies the sharing economy by turning unused spaces, like spare bedrooms, into income-generating assets. This model disrupts traditional industries and offers a more efficient, scalable way to use existing resources, contributing to both economic growth and sustainability.

What is the significance of tapping into excess capacity in modern business?

Tapping into excess capacity is significant because it allows businesses to utilize resources that are otherwise wasted. This approach enables businesses to scale quickly, reduce costs, and make more sustainable use of available resources.

What is the role of innovation in business models like Zipcar and Airbnb?

Innovation in models like Zipcar and Airbnb lies in their ability to transform traditional industries by creating new ways for individuals to share resources. These businesses leverage technology to connect people and maximize the use of underutilized assets, driving both economic and social innovation.

Why does the speaker suggest that traditional companies should focus on scalability?

The speaker suggests that traditional companies should focus on scalability because it allows them to quickly adapt to changing market demands and global challenges. Scalable business models like those in the sharing economy are more flexible and resilient in the face of uncertainties.

What future does the speaker envision in terms of business practices and societal impact?

The speaker envisions a future where businesses operate with a focus on community, innovation, and sustainability. In this future, companies would harness collective participation, scale rapidly, and address pressing global issues like climate change, while promoting social and environmental good.