[Script Info]
Title: 
[Events]
Format: Layer, Start, End, Style, Name, MarginL, MarginR, MarginV, Effect, Text
Dialogue: 0,0:00:12.52,0:00:15.52,Default,,0000,0000,0000,,Thanks for setting high expectations,\Nalways good.
Dialogue: 0,0:00:16.90,0:00:18.100,Default,,0000,0000,0000,,So today I'm going to talk to you
Dialogue: 0,0:00:19.00,0:00:21.64,Default,,0000,0000,0000,,about the rise\Nof collaborative consumption.
Dialogue: 0,0:00:21.64,0:00:23.38,Default,,0000,0000,0000,,I'm going to explain what it is
Dialogue: 0,0:00:23.39,0:00:26.14,Default,,0000,0000,0000,,and try and convince you\N- in just 15 minutes -
Dialogue: 0,0:00:26.14,0:00:28.47,Default,,0000,0000,0000,,that this isn't a flimsy idea,
Dialogue: 0,0:00:28.47,0:00:30.24,Default,,0000,0000,0000,,or a short-term trend,
Dialogue: 0,0:00:30.24,0:00:32.78,Default,,0000,0000,0000,,but a powerful cultural and economic force
Dialogue: 0,0:00:32.78,0:00:35.19,Default,,0000,0000,0000,,reinventing not just what we consume,
Dialogue: 0,0:00:35.19,0:00:37.11,Default,,0000,0000,0000,,but how we consume.
Dialogue: 0,0:00:37.11,0:00:40.11,Default,,0000,0000,0000,,Now I'm going to start\Nwith a deceptively simple example.
Dialogue: 0,0:00:40.56,0:00:42.36,Default,,0000,0000,0000,,Hands up - how many of you
Dialogue: 0,0:00:42.36,0:00:45.36,Default,,0000,0000,0000,,have books, CDs, DVDs, or videos
Dialogue: 0,0:00:46.16,0:00:48.05,Default,,0000,0000,0000,,lying around your house
Dialogue: 0,0:00:48.05,0:00:49.89,Default,,0000,0000,0000,,that you probably won't use again,
Dialogue: 0,0:00:49.89,0:00:52.89,Default,,0000,0000,0000,,but you can't quite bring yourself\Nto throw away?
Dialogue: 0,0:00:54.00,0:00:55.45,Default,,0000,0000,0000,,Can't see all the hands,
Dialogue: 0,0:00:55.45,0:00:57.63,Default,,0000,0000,0000,,but it looks like all of you, right?
Dialogue: 0,0:00:57.64,0:00:59.40,Default,,0000,0000,0000,,On our shelves at home,
Dialogue: 0,0:00:59.40,0:01:02.40,Default,,0000,0000,0000,,we have a box set of the DVD series "24,"
Dialogue: 0,0:01:03.00,0:01:04.100,Default,,0000,0000,0000,,season six to be precise.
Dialogue: 0,0:01:05.00,0:01:08.00,Default,,0000,0000,0000,,I think it was bought for us around\Nthree years ago for a Christmas present.
Dialogue: 0,0:01:08.62,0:01:10.61,Default,,0000,0000,0000,,Now my husband, Chris, and I
Dialogue: 0,0:01:10.61,0:01:11.100,Default,,0000,0000,0000,,love this show.
Dialogue: 0,0:01:12.00,0:01:15.67,Default,,0000,0000,0000,,But let's face it, when you've watched it\Nonce maybe, or twice,
Dialogue: 0,0:01:15.67,0:01:17.64,Default,,0000,0000,0000,,you don't really want to watch it again,
Dialogue: 0,0:01:17.64,0:01:20.76,Default,,0000,0000,0000,,because you know how Jack Bauer\Nis going to defeat the terrorists.
Dialogue: 0,0:01:20.76,0:01:22.37,Default,,0000,0000,0000,,So there it sits on our shelves
Dialogue: 0,0:01:22.68,0:01:24.31,Default,,0000,0000,0000,,obsolete to us,
Dialogue: 0,0:01:24.33,0:01:27.33,Default,,0000,0000,0000,,but with immediate latent value\Nto someone else.
Dialogue: 0,0:01:27.38,0:01:30.16,Default,,0000,0000,0000,,Now before we go on,\NI have a confession to make.
Dialogue: 0,0:01:30.18,0:01:32.04,Default,,0000,0000,0000,,I lived in New York for 10 years,
Dialogue: 0,0:01:32.07,0:01:35.06,Default,,0000,0000,0000,,and I am a big fan of "Sex and the City."
Dialogue: 0,0:01:35.40,0:01:37.40,Default,,0000,0000,0000,,Now I'd love to watch\Nthe first movie again
Dialogue: 0,0:01:37.42,0:01:40.40,Default,,0000,0000,0000,,as sort of a warm-up to the sequel\Ncoming out next week.
Dialogue: 0,0:01:40.40,0:01:42.40,Default,,0000,0000,0000,,So how easily could I swap
Dialogue: 0,0:01:42.40,0:01:44.40,Default,,0000,0000,0000,,our unwanted copy of "24"
Dialogue: 0,0:01:44.40,0:01:47.18,Default,,0000,0000,0000,,for a wanted copy of "Sex and the City?"
Dialogue: 0,0:01:47.21,0:01:48.78,Default,,0000,0000,0000,,Now you may have noticed
Dialogue: 0,0:01:48.80,0:01:51.50,Default,,0000,0000,0000,,there's a new sector emerging\Ncalled swap-trading.
Dialogue: 0,0:01:51.54,0:01:54.02,Default,,0000,0000,0000,,Now the easiest analogy for swap-trading
Dialogue: 0,0:01:54.04,0:01:56.25,Default,,0000,0000,0000,,is like an online dating service
Dialogue: 0,0:01:56.31,0:01:58.31,Default,,0000,0000,0000,,for all your unwanted media.
Dialogue: 0,0:01:58.40,0:02:00.58,Default,,0000,0000,0000,,What it does is use the Internet
Dialogue: 0,0:02:00.60,0:02:02.60,Default,,0000,0000,0000,,to create an infinite marketplace
Dialogue: 0,0:02:02.60,0:02:04.60,Default,,0000,0000,0000,,to match person A's "haves"
Dialogue: 0,0:02:04.60,0:02:06.60,Default,,0000,0000,0000,,with person C's "wants,"
Dialogue: 0,0:02:06.60,0:02:08.60,Default,,0000,0000,0000,,whatever they may be.
Dialogue: 0,0:02:08.60,0:02:11.60,Default,,0000,0000,0000,,The other week,\NI went on one of these sites,
Dialogue: 0,0:02:11.60,0:02:13.77,Default,,0000,0000,0000,,appropriately called Swaptree,
Dialogue: 0,0:02:13.80,0:02:18.09,Default,,0000,0000,0000,,and there were over 59,300 items
Dialogue: 0,0:02:18.11,0:02:20.11,Default,,0000,0000,0000,,that I could instantly swap
Dialogue: 0,0:02:20.13,0:02:21.98,Default,,0000,0000,0000,,for my copy of "24."
Dialogue: 0,0:02:22.32,0:02:23.52,Default,,0000,0000,0000,,Lo and behold,
Dialogue: 0,0:02:23.57,0:02:26.51,Default,,0000,0000,0000,,there in Reseda, CA was Rondoron
Dialogue: 0,0:02:26.60,0:02:28.60,Default,,0000,0000,0000,,who wanted swap his or her
Dialogue: 0,0:02:28.60,0:02:30.60,Default,,0000,0000,0000,,"like new" copy of "Sex and the City"
Dialogue: 0,0:02:30.60,0:02:33.17,Default,,0000,0000,0000,,for my copy of "24."
Dialogue: 0,0:02:33.19,0:02:35.19,Default,,0000,0000,0000,,So in other words, what's happening here
Dialogue: 0,0:02:35.21,0:02:36.76,Default,,0000,0000,0000,,is that Swaptree
Dialogue: 0,0:02:36.78,0:02:39.56,Default,,0000,0000,0000,,solves my carrying company's\Nsugar rush problem,
Dialogue: 0,0:02:39.59,0:02:42.58,Default,,0000,0000,0000,,a problem the economists call\N"the coincidence of wants,"
Dialogue: 0,0:02:42.60,0:02:45.04,Default,,0000,0000,0000,,in approximately 60 seconds.
Dialogue: 0,0:02:45.08,0:02:48.63,Default,,0000,0000,0000,,What's even more amazing is it will\Nprint out a postage label on the spot,
Dialogue: 0,0:02:48.63,0:02:50.60,Default,,0000,0000,0000,,because it knows the way of the item.
Dialogue: 0,0:02:50.60,0:02:52.97,Default,,0000,0000,0000,,Now there are layers of technical wonder
Dialogue: 0,0:02:53.00,0:02:55.100,Default,,0000,0000,0000,,behind sites such as Swaptree,
Dialogue: 0,0:02:56.00,0:02:57.58,Default,,0000,0000,0000,,but that's not my interest,
Dialogue: 0,0:02:57.60,0:03:00.06,Default,,0000,0000,0000,,and nor is swap trading, per se.
Dialogue: 0,0:03:00.10,0:03:02.43,Default,,0000,0000,0000,,My passion, and what I've spent\Nthe last few years
Dialogue: 0,0:03:02.45,0:03:04.10,Default,,0000,0000,0000,,dedicated to researching,
Dialogue: 0,0:03:04.10,0:03:07.10,Default,,0000,0000,0000,,is the collaborative behaviors\Nand trust-mechanics
Dialogue: 0,0:03:07.10,0:03:10.10,Default,,0000,0000,0000,,inherent in these systems.
Dialogue: 0,0:03:10.10,0:03:12.10,Default,,0000,0000,0000,,When you think about it,
Dialogue: 0,0:03:12.10,0:03:15.10,Default,,0000,0000,0000,,it would have seemed like a crazy idea,\Neven a few years ago,
Dialogue: 0,0:03:15.10,0:03:18.10,Default,,0000,0000,0000,,that I would swap my stuff\Nwith a total stranger
Dialogue: 0,0:03:18.10,0:03:20.66,Default,,0000,0000,0000,,whose real name I didn't know
Dialogue: 0,0:03:20.70,0:03:23.19,Default,,0000,0000,0000,,and without any money changing hands.
Dialogue: 0,0:03:23.22,0:03:25.86,Default,,0000,0000,0000,,Yet 99 percent of trades on Swaptree
Dialogue: 0,0:03:25.89,0:03:27.32,Default,,0000,0000,0000,,happen successfully,
Dialogue: 0,0:03:27.35,0:03:29.73,Default,,0000,0000,0000,,and the one percent\Nthat receive a negative rating,
Dialogue: 0,0:03:29.79,0:03:32.03,Default,,0000,0000,0000,,it's for relatively minor reasons,
Dialogue: 0,0:03:32.08,0:03:34.70,Default,,0000,0000,0000,,like the item didn't arrive on time.
Dialogue: 0,0:03:34.70,0:03:36.78,Default,,0000,0000,0000,,So what's happening here?
Dialogue: 0,0:03:36.80,0:03:39.66,Default,,0000,0000,0000,,An extremely powerful dynamic
Dialogue: 0,0:03:39.70,0:03:43.08,Default,,0000,0000,0000,,that has huge commercial\Nand cultural implications
Dialogue: 0,0:03:43.10,0:03:44.25,Default,,0000,0000,0000,,is at play.
Dialogue: 0,0:03:44.31,0:03:46.79,Default,,0000,0000,0000,,Namely, that technology
Dialogue: 0,0:03:46.81,0:03:48.23,Default,,0000,0000,0000,,is enabling
Dialogue: 0,0:03:48.25,0:03:50.25,Default,,0000,0000,0000,,trust between strangers.
Dialogue: 0,0:03:50.68,0:03:52.85,Default,,0000,0000,0000,,We now live in a global village
Dialogue: 0,0:03:52.90,0:03:55.08,Default,,0000,0000,0000,,where we can mimic the ties
Dialogue: 0,0:03:55.10,0:03:57.24,Default,,0000,0000,0000,,that used to happen face to face,
Dialogue: 0,0:03:57.27,0:03:58.68,Default,,0000,0000,0000,,but on a scale and in ways
Dialogue: 0,0:03:58.70,0:04:01.13,Default,,0000,0000,0000,,that have never been possible before.
Dialogue: 0,0:04:01.23,0:04:02.98,Default,,0000,0000,0000,,So what's actually happening
Dialogue: 0,0:04:03.01,0:04:05.70,Default,,0000,0000,0000,,is that social networks\Nand real-time technologies
Dialogue: 0,0:04:05.72,0:04:07.37,Default,,0000,0000,0000,,are taking us back.
Dialogue: 0,0:04:07.82,0:04:09.59,Default,,0000,0000,0000,,We're bartering, trading,
Dialogue: 0,0:04:09.61,0:04:11.33,Default,,0000,0000,0000,,swapping, sharing,
Dialogue: 0,0:04:11.35,0:04:12.80,Default,,0000,0000,0000,,but they're being reinvented
Dialogue: 0,0:04:12.86,0:04:14.88,Default,,0000,0000,0000,,into dynamic and appealing forms.
Dialogue: 0,0:04:14.88,0:04:16.70,Default,,0000,0000,0000,,What I find fascinating
Dialogue: 0,0:04:16.73,0:04:19.80,Default,,0000,0000,0000,,is that we've actually wired\Nour world to share,
Dialogue: 0,0:04:19.80,0:04:22.55,Default,,0000,0000,0000,,whether that's our neighborhood,\Nour school,
Dialogue: 0,0:04:22.57,0:04:25.50,Default,,0000,0000,0000,,our office, or our Facebook network,
Dialogue: 0,0:04:25.50,0:04:27.50,Default,,0000,0000,0000,,and that's creating an economy
Dialogue: 0,0:04:27.50,0:04:29.48,Default,,0000,0000,0000,,of "what's mine is yours."
Dialogue: 0,0:04:29.78,0:04:31.50,Default,,0000,0000,0000,,From the mighty eBay,
Dialogue: 0,0:04:31.50,0:04:33.50,Default,,0000,0000,0000,,the grandfather of exchange marketplaces,
Dialogue: 0,0:04:34.14,0:04:36.50,Default,,0000,0000,0000,,to car-sharing companies such as GoGet,
Dialogue: 0,0:04:36.50,0:04:39.72,Default,,0000,0000,0000,,where you pay a monthly fee\Nto rent cars by the hour,
Dialogue: 0,0:04:39.89,0:04:42.97,Default,,0000,0000,0000,,to social lending platforms such as Zopa,
Dialogue: 0,0:04:43.00,0:04:44.100,Default,,0000,0000,0000,,that will take anyone in this audience
Dialogue: 0,0:04:45.00,0:04:46.61,Default,,0000,0000,0000,,with 100 dollars to lend,
Dialogue: 0,0:04:46.63,0:04:49.70,Default,,0000,0000,0000,,and match them with a borrower\Nanywhere in the world,
Dialogue: 0,0:04:49.77,0:04:52.28,Default,,0000,0000,0000,,we're sharing and collaborating again
Dialogue: 0,0:04:52.30,0:04:54.30,Default,,0000,0000,0000,,in ways that I believe
Dialogue: 0,0:04:54.32,0:04:56.54,Default,,0000,0000,0000,,are more hip than hippie.
Dialogue: 0,0:04:56.56,0:04:59.96,Default,,0000,0000,0000,,I call this "groundswell\Ncollaborative consumption."
Dialogue: 0,0:04:59.98,0:05:02.26,Default,,0000,0000,0000,,Now before I dig\Ninto the different systems
Dialogue: 0,0:05:02.28,0:05:04.03,Default,,0000,0000,0000,,of collaborative consumption,
Dialogue: 0,0:05:04.05,0:05:06.46,Default,,0000,0000,0000,,I'd like to try and answer the question
Dialogue: 0,0:05:06.48,0:05:08.94,Default,,0000,0000,0000,,that every author rightfully gets asked,
Dialogue: 0,0:05:08.96,0:05:12.21,Default,,0000,0000,0000,,which is, where did this idea come from?
Dialogue: 0,0:05:12.21,0:05:14.20,Default,,0000,0000,0000,,Now I'd like to say I woke up one morning
Dialogue: 0,0:05:14.20,0:05:17.14,Default,,0000,0000,0000,,and said, "I'm going to write\Nabout collaborative consumption,"
Dialogue: 0,0:05:17.14,0:05:19.51,Default,,0000,0000,0000,,but actually it was a complicated web
Dialogue: 0,0:05:19.53,0:05:22.04,Default,,0000,0000,0000,,of seemingly disconnected ideas.
Dialogue: 0,0:05:22.06,0:05:23.39,Default,,0000,0000,0000,,Over the next minute,
Dialogue: 0,0:05:23.41,0:05:26.55,Default,,0000,0000,0000,,you're going to see a bit like\Na conceptual fireworks display
Dialogue: 0,0:05:26.57,0:05:29.55,Default,,0000,0000,0000,,of all the dots that went on in my head.
Dialogue: 0,0:05:30.40,0:05:32.40,Default,,0000,0000,0000,,The first thing I began to notice:
Dialogue: 0,0:05:32.42,0:05:33.90,Default,,0000,0000,0000,,- a few years ago -
Dialogue: 0,0:05:33.90,0:05:36.07,Default,,0000,0000,0000,,how many big concepts were emerging -
Dialogue: 0,0:05:36.10,0:05:38.47,Default,,0000,0000,0000,,from the wisdom of crowds to smart mobs -
Dialogue: 0,0:05:38.50,0:05:40.49,Default,,0000,0000,0000,,around how ridiculously easy it is
Dialogue: 0,0:05:40.52,0:05:42.51,Default,,0000,0000,0000,,to form groups for a purpose.
Dialogue: 0,0:05:42.54,0:05:44.41,Default,,0000,0000,0000,,And linked to this crowd mania
Dialogue: 0,0:05:44.43,0:05:46.52,Default,,0000,0000,0000,,were examples all around the world -
Dialogue: 0,0:05:46.58,0:05:48.38,Default,,0000,0000,0000,,from the election of a president
Dialogue: 0,0:05:48.40,0:05:50.92,Default,,0000,0000,0000,,to the infamous Wikipedia,\Nand everything in between -
Dialogue: 0,0:05:51.27,0:05:53.72,Default,,0000,0000,0000,,on what the power of numbers\Ncould achieve.
Dialogue: 0,0:05:54.10,0:05:57.10,Default,,0000,0000,0000,,Now, you know when you learn a new word,
Dialogue: 0,0:05:57.10,0:05:59.60,Default,,0000,0000,0000,,and then you start to see\Nthat word everywhere?
Dialogue: 0,0:05:59.62,0:06:01.26,Default,,0000,0000,0000,,That's what happened to me
Dialogue: 0,0:06:01.28,0:06:03.92,Default,,0000,0000,0000,,when I noticed that we are moving
Dialogue: 0,0:06:03.95,0:06:05.100,Default,,0000,0000,0000,,from passive consumers
Dialogue: 0,0:06:06.38,0:06:07.72,Default,,0000,0000,0000,,to creators,
Dialogue: 0,0:06:07.74,0:06:10.65,Default,,0000,0000,0000,,to highly enabled collaborators.
Dialogue: 0,0:06:10.70,0:06:11.89,Default,,0000,0000,0000,,What's happening
Dialogue: 0,0:06:11.91,0:06:14.78,Default,,0000,0000,0000,,is the Internet is removing the middleman,
Dialogue: 0,0:06:14.89,0:06:17.28,Default,,0000,0000,0000,,so that anyone from a T-shirt designer
Dialogue: 0,0:06:17.34,0:06:18.42,Default,,0000,0000,0000,,to a knitter
Dialogue: 0,0:06:18.44,0:06:21.02,Default,,0000,0000,0000,,can make a living selling peer-to-peer.
Dialogue: 0,0:06:21.10,0:06:22.57,Default,,0000,0000,0000,,And the ubiquitous force
Dialogue: 0,0:06:22.59,0:06:24.59,Default,,0000,0000,0000,,of this peer-to-peer revolution
Dialogue: 0,0:06:24.61,0:06:27.61,Default,,0000,0000,0000,,means that sharing is happening\Nat phenomenal rates.
Dialogue: 0,0:06:28.10,0:06:30.10,Default,,0000,0000,0000,,I mean, it's amazing to think
Dialogue: 0,0:06:30.10,0:06:33.10,Default,,0000,0000,0000,,that, in every single minute\Nof this speech,
Dialogue: 0,0:06:33.10,0:06:34.70,Default,,0000,0000,0000,,25 hours
Dialogue: 0,0:06:34.78,0:06:37.34,Default,,0000,0000,0000,,of YouTube video will be loaded.
Dialogue: 0,0:06:37.73,0:06:40.52,Default,,0000,0000,0000,,Now what I find fascinating\Nabout these examples
Dialogue: 0,0:06:40.55,0:06:43.80,Default,,0000,0000,0000,,is how they're actually tapping into\Nour primate instincts.
Dialogue: 0,0:06:44.45,0:06:46.18,Default,,0000,0000,0000,,I mean, we're monkeys,
Dialogue: 0,0:06:46.20,0:06:48.86,Default,,0000,0000,0000,,and we're born and bred\Nto share and cooperate.
Dialogue: 0,0:06:48.93,0:06:51.72,Default,,0000,0000,0000,,And we were doing so\Nfor thousands of years,
Dialogue: 0,0:06:51.79,0:06:53.70,Default,,0000,0000,0000,,whether it's when we hunted in packs,
Dialogue: 0,0:06:53.72,0:06:56.26,Default,,0000,0000,0000,,or farmed in cooperatives,
Dialogue: 0,0:06:56.57,0:06:59.89,Default,,0000,0000,0000,,before this big system called\Nhyper-consumption came along
Dialogue: 0,0:07:00.25,0:07:01.74,Default,,0000,0000,0000,,and we built these fences
Dialogue: 0,0:07:01.77,0:07:03.76,Default,,0000,0000,0000,,and created out own little fiefdoms.
Dialogue: 0,0:07:04.10,0:07:06.10,Default,,0000,0000,0000,,But things are changing,
Dialogue: 0,0:07:06.10,0:07:07.67,Default,,0000,0000,0000,,and one of the reasons why
Dialogue: 0,0:07:07.69,0:07:10.45,Default,,0000,0000,0000,,is the digital natives, or Gen-Y.
Dialogue: 0,0:07:10.91,0:07:12.76,Default,,0000,0000,0000,,They're growing up sharing -
Dialogue: 0,0:07:12.79,0:07:14.93,Default,,0000,0000,0000,,files, video games, knowledge.
Dialogue: 0,0:07:14.95,0:07:16.95,Default,,0000,0000,0000,,It's second nature to them.
Dialogue: 0,0:07:16.97,0:07:19.81,Default,,0000,0000,0000,,So we, the millennials -\NI am just a millennial -
Dialogue: 0,0:07:19.83,0:07:21.47,Default,,0000,0000,0000,,are like foot soldiers,
Dialogue: 0,0:07:21.49,0:07:24.94,Default,,0000,0000,0000,,moving us from a culture\Nof "me" to a culture of "we."
Dialogue: 0,0:07:25.44,0:07:27.56,Default,,0000,0000,0000,,Now, all of this\Nwas flying through my head,
Dialogue: 0,0:07:27.58,0:07:29.92,Default,,0000,0000,0000,,around the end of 2008.
Dialogue: 0,0:07:30.79,0:07:31.60,Default,,0000,0000,0000,,Sorry -
Dialogue: 0,0:07:31.60,0:07:33.60,Default,,0000,0000,0000,,The reason why it's happening so fast
Dialogue: 0,0:07:33.60,0:07:35.60,Default,,0000,0000,0000,,is because of mobile collaboration.
Dialogue: 0,0:07:35.60,0:07:37.99,Default,,0000,0000,0000,,We now live in a connected age
Dialogue: 0,0:07:38.01,0:07:41.43,Default,,0000,0000,0000,,where we can locate anyone,\Nanytime, in real-time,
Dialogue: 0,0:07:41.60,0:07:44.14,Default,,0000,0000,0000,,from a small device in our hands.
Dialogue: 0,0:07:44.20,0:07:45.99,Default,,0000,0000,0000,,All of this was going through my head
Dialogue: 0,0:07:46.01,0:07:47.93,Default,,0000,0000,0000,,towards the end of 2008,
Dialogue: 0,0:07:47.95,0:07:50.95,Default,,0000,0000,0000,,when, of course,\Nthe great financial crash happened.
Dialogue: 0,0:07:51.07,0:07:54.55,Default,,0000,0000,0000,,Thomas Friedman is one of my favorite\NNew York Times columnists,
Dialogue: 0,0:07:54.62,0:07:56.60,Default,,0000,0000,0000,,and he poignantly commented
Dialogue: 0,0:07:56.60,0:07:59.58,Default,,0000,0000,0000,,that 2008 is when we hit a wall,
Dialogue: 0,0:07:59.78,0:08:02.06,Default,,0000,0000,0000,,when Mother Nature and the market
Dialogue: 0,0:08:02.09,0:08:04.09,Default,,0000,0000,0000,,both said, "No more."
Dialogue: 0,0:08:04.60,0:08:06.30,Default,,0000,0000,0000,,Now we rationally know
Dialogue: 0,0:08:06.32,0:08:09.13,Default,,0000,0000,0000,,that an economy built on hyper-consumption
Dialogue: 0,0:08:09.15,0:08:12.15,Default,,0000,0000,0000,,is a Ponzi scheme.\NIt's a house of cards.
Dialogue: 0,0:08:12.45,0:08:15.45,Default,,0000,0000,0000,,Yet, it's hard for us\Nto individually know what to do.
Dialogue: 0,0:08:15.97,0:08:18.12,Default,,0000,0000,0000,,So all of this is a lot of twittering,\Nright?
Dialogue: 0,0:08:18.12,0:08:20.63,Default,,0000,0000,0000,,Well it was a lot of noise\Nand complexity in my head,
Dialogue: 0,0:08:20.63,0:08:22.69,Default,,0000,0000,0000,,until actually I realized it was happening
Dialogue: 0,0:08:22.69,0:08:24.27,Default,,0000,0000,0000,,because of four key drivers.
Dialogue: 0,0:08:24.38,0:08:27.55,Default,,0000,0000,0000,,One, a renewed belief\Nin the importance of community,
Dialogue: 0,0:08:27.60,0:08:30.93,Default,,0000,0000,0000,,and a very redefinition of what\Nfriend and neighbor really means.
Dialogue: 0,0:08:31.47,0:08:34.40,Default,,0000,0000,0000,,A torrent of peer-to-peer social networks
Dialogue: 0,0:08:34.40,0:08:35.85,Default,,0000,0000,0000,,and real-time technologies,
Dialogue: 0,0:08:35.87,0:08:38.74,Default,,0000,0000,0000,,fundamentally changing the way we behave.
Dialogue: 0,0:08:38.76,0:08:42.18,Default,,0000,0000,0000,,Three, pressing unresolved\Nenvironmental concerns.
Dialogue: 0,0:08:42.23,0:08:44.38,Default,,0000,0000,0000,,And four, a global recession
Dialogue: 0,0:08:44.40,0:08:46.40,Default,,0000,0000,0000,,that has fundamentally shocked
Dialogue: 0,0:08:46.40,0:08:48.04,Default,,0000,0000,0000,,consumer behaviors.
Dialogue: 0,0:08:48.07,0:08:49.58,Default,,0000,0000,0000,,These four drivers
Dialogue: 0,0:08:49.60,0:08:51.54,Default,,0000,0000,0000,,are fusing together
Dialogue: 0,0:08:51.56,0:08:53.56,Default,,0000,0000,0000,,and creating the big shift -
Dialogue: 0,0:08:53.62,0:08:56.14,Default,,0000,0000,0000,,away from the 20th century,
Dialogue: 0,0:08:56.24,0:08:58.12,Default,,0000,0000,0000,,defined by hyper-consumption,
Dialogue: 0,0:08:58.14,0:09:00.14,Default,,0000,0000,0000,,towards the 21st century,
Dialogue: 0,0:09:00.16,0:09:02.76,Default,,0000,0000,0000,,defined by collaborative consumption.
Dialogue: 0,0:09:02.84,0:09:05.56,Default,,0000,0000,0000,,I generally believe\Nwe're at an inflection point
Dialogue: 0,0:09:05.58,0:09:07.33,Default,,0000,0000,0000,,where the sharing behaviors -
Dialogue: 0,0:09:07.35,0:09:09.67,Default,,0000,0000,0000,,through sites such as Flickr and Twitter
Dialogue: 0,0:09:09.72,0:09:11.72,Default,,0000,0000,0000,,that are becoming second nature online -
Dialogue: 0,0:09:11.74,0:09:15.07,Default,,0000,0000,0000,,are being applied to offline areas\Nof our everyday lives.
Dialogue: 0,0:09:15.11,0:09:18.04,Default,,0000,0000,0000,,From morning commutes\Nto the way fashion is designed
Dialogue: 0,0:09:18.06,0:09:19.63,Default,,0000,0000,0000,,to the way we grow food,
Dialogue: 0,0:09:19.65,0:09:22.86,Default,,0000,0000,0000,,we are consuming\Nand collaborating once again.
Dialogue: 0,0:09:24.100,0:09:27.78,Default,,0000,0000,0000,,So my co-author, Roo Rogers, and I
Dialogue: 0,0:09:27.80,0:09:29.85,Default,,0000,0000,0000,,have actually gathered\Nthousands of examples
Dialogue: 0,0:09:29.87,0:09:32.43,Default,,0000,0000,0000,,from all around the world\Nof collaborative consumption.
Dialogue: 0,0:09:32.45,0:09:34.40,Default,,0000,0000,0000,,And although they vary enormously
Dialogue: 0,0:09:34.40,0:09:36.40,Default,,0000,0000,0000,,in scale, maturity and purpose,
Dialogue: 0,0:09:36.40,0:09:37.96,Default,,0000,0000,0000,,when we dived into them,
Dialogue: 0,0:09:37.98,0:09:41.56,Default,,0000,0000,0000,,we realized that they could actually\Nbe organized into three clear systems.
Dialogue: 0,0:09:41.56,0:09:44.12,Default,,0000,0000,0000,,The first is redistribution markets.
Dialogue: 0,0:09:44.18,0:09:46.63,Default,,0000,0000,0000,,Redistribution markets,\Njust like Swaptree,
Dialogue: 0,0:09:46.65,0:09:49.51,Default,,0000,0000,0000,,are when you take a used,\Nor pre-owned, item
Dialogue: 0,0:09:49.54,0:09:51.40,Default,,0000,0000,0000,,and move it from where it's not needed
Dialogue: 0,0:09:51.40,0:09:54.15,Default,,0000,0000,0000,,to somewhere, or someone, where it is.
Dialogue: 0,0:09:54.18,0:09:56.58,Default,,0000,0000,0000,,They're increasingly thought\Nof as the fifth 'R' -
Dialogue: 0,0:09:56.60,0:09:58.78,Default,,0000,0000,0000,,reduce, reuse, recycle, repair
Dialogue: 0,0:09:58.80,0:10:00.08,Default,,0000,0000,0000,,and redistribute -
Dialogue: 0,0:10:00.10,0:10:02.52,Default,,0000,0000,0000,,because they stretch\Nthe life cycle of a product
Dialogue: 0,0:10:02.58,0:10:04.32,Default,,0000,0000,0000,,and thereby reduce waste.
Dialogue: 0,0:10:04.80,0:10:07.29,Default,,0000,0000,0000,,The second is collaborative lifestyles.
Dialogue: 0,0:10:07.32,0:10:09.12,Default,,0000,0000,0000,,This is the sharing of resources
Dialogue: 0,0:10:09.14,0:10:12.59,Default,,0000,0000,0000,,of things like money, skills and time.
Dialogue: 0,0:10:12.61,0:10:14.61,Default,,0000,0000,0000,,I bet, in a couple of years,
Dialogue: 0,0:10:14.63,0:10:16.78,Default,,0000,0000,0000,,that phrases like "coworking"
Dialogue: 0,0:10:16.80,0:10:19.35,Default,,0000,0000,0000,,and "couchsurfing" and "time banks"
Dialogue: 0,0:10:19.37,0:10:22.37,Default,,0000,0000,0000,,are going to become a part\Nof everyday vernacular.
Dialogue: 0,0:10:22.67,0:10:26.75,Default,,0000,0000,0000,,One of my favorite examples\Nof collaborative lifestyles
Dialogue: 0,0:10:26.80,0:10:28.80,Default,,0000,0000,0000,,is called Landshare.
Dialogue: 0,0:10:28.80,0:10:30.80,Default,,0000,0000,0000,,It's a scheme in the U.K.
Dialogue: 0,0:10:30.80,0:10:32.80,Default,,0000,0000,0000,,that matches Mr. Jones,
Dialogue: 0,0:10:32.80,0:10:35.80,Default,,0000,0000,0000,,with some spare space in his back garden,
Dialogue: 0,0:10:35.80,0:10:38.80,Default,,0000,0000,0000,,with Mrs. Smith, a would-be grower.
Dialogue: 0,0:10:38.80,0:10:40.80,Default,,0000,0000,0000,,Together they grow their own food.
Dialogue: 0,0:10:40.80,0:10:43.80,Default,,0000,0000,0000,,It's one of those ideas\Nthat's so simple, yet brilliant,
Dialogue: 0,0:10:43.80,0:10:46.71,Default,,0000,0000,0000,,you wonder why\Nit's never been done before.
Dialogue: 0,0:10:46.99,0:10:48.80,Default,,0000,0000,0000,,Now, the third system
Dialogue: 0,0:10:48.80,0:10:50.80,Default,,0000,0000,0000,,is product-service systems.
Dialogue: 0,0:10:50.80,0:10:53.32,Default,,0000,0000,0000,,This is where you pay\Nfor the benefit of the product -
Dialogue: 0,0:10:53.34,0:10:54.80,Default,,0000,0000,0000,,what it does for you -
Dialogue: 0,0:10:54.82,0:10:56.87,Default,,0000,0000,0000,,without needing to own\Nthe product outright.
Dialogue: 0,0:10:57.07,0:10:59.100,Default,,0000,0000,0000,,This idea is particularly powerful
Dialogue: 0,0:11:00.00,0:11:01.46,Default,,0000,0000,0000,,for things that have
Dialogue: 0,0:11:01.48,0:11:03.48,Default,,0000,0000,0000,,high-idling capacity.
Dialogue: 0,0:11:03.50,0:11:05.92,Default,,0000,0000,0000,,And that can be anything from baby goods
Dialogue: 0,0:11:06.01,0:11:07.68,Default,,0000,0000,0000,,to fashions to -
Dialogue: 0,0:11:07.70,0:11:09.70,Default,,0000,0000,0000,,how many of you have a power drill,
Dialogue: 0,0:11:09.80,0:11:11.54,Default,,0000,0000,0000,,own a power drill? Right.
Dialogue: 0,0:11:11.58,0:11:15.37,Default,,0000,0000,0000,,That power drill will be used\Naround 12 to 13 minutes
Dialogue: 0,0:11:15.40,0:11:17.40,Default,,0000,0000,0000,,in its entire lifetime.
Dialogue: 0,0:11:17.40,0:11:18.70,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:11:18.74,0:11:20.56,Default,,0000,0000,0000,,It's kind of ridiculous, right?
Dialogue: 0,0:11:20.58,0:11:23.30,Default,,0000,0000,0000,,Because what you need is the hole,\Nnot the drill.
Dialogue: 0,0:11:23.32,0:11:25.01,Default,,0000,0000,0000,,(Laughter)
Dialogue: 0,0:11:25.03,0:11:27.37,Default,,0000,0000,0000,,(Applause)
Dialogue: 0,0:11:27.40,0:11:29.40,Default,,0000,0000,0000,,So why don't you rent the drill,
Dialogue: 0,0:11:29.40,0:11:31.53,Default,,0000,0000,0000,,or, even better,\Nrent out your own drill to other people
Dialogue: 0,0:11:31.55,0:11:33.16,Default,,0000,0000,0000,,and make some money from it?
Dialogue: 0,0:11:33.18,0:11:35.53,Default,,0000,0000,0000,,These three systems are coming together,
Dialogue: 0,0:11:35.55,0:11:37.87,Default,,0000,0000,0000,,allowing people to share resources
Dialogue: 0,0:11:37.92,0:11:40.34,Default,,0000,0000,0000,,without sacrificing their lifestyles,
Dialogue: 0,0:11:40.40,0:11:42.40,Default,,0000,0000,0000,,or their cherished personal freedoms.
Dialogue: 0,0:11:42.40,0:11:43.100,Default,,0000,0000,0000,,I'm not asking people
Dialogue: 0,0:11:44.02,0:11:46.02,Default,,0000,0000,0000,,to share nicely in the sandpit.
Dialogue: 0,0:11:48.40,0:11:50.40,Default,,0000,0000,0000,,So I want to just give you an example
Dialogue: 0,0:11:50.40,0:11:52.64,Default,,0000,0000,0000,,of how powerful\Ncollaborative consumption can be
Dialogue: 0,0:11:52.66,0:11:54.40,Default,,0000,0000,0000,,to change behaviors.
Dialogue: 0,0:11:54.40,0:11:56.40,Default,,0000,0000,0000,,The average car
Dialogue: 0,0:11:56.40,0:11:59.40,Default,,0000,0000,0000,,costs 8,000 dollars a year to run.
Dialogue: 0,0:11:59.40,0:12:00.92,Default,,0000,0000,0000,,Yet, that car sits idle
Dialogue: 0,0:12:00.94,0:12:02.94,Default,,0000,0000,0000,,for 23 hours a day.
Dialogue: 0,0:12:03.40,0:12:06.36,Default,,0000,0000,0000,,So when you consider these two facts,
Dialogue: 0,0:12:06.40,0:12:08.40,Default,,0000,0000,0000,,it starts to make a little less sense
Dialogue: 0,0:12:08.40,0:12:10.69,Default,,0000,0000,0000,,that we have to own one outright.
Dialogue: 0,0:12:10.88,0:12:12.88,Default,,0000,0000,0000,,So this is where car-sharing companies
Dialogue: 0,0:12:12.90,0:12:15.10,Default,,0000,0000,0000,,such as Zipcar and GoGet come in.
Dialogue: 0,0:12:15.80,0:12:17.15,Default,,0000,0000,0000,,In 2009,
Dialogue: 0,0:12:17.17,0:12:19.76,Default,,0000,0000,0000,,Zipcar took 250 participants
Dialogue: 0,0:12:20.40,0:12:23.40,Default,,0000,0000,0000,,from across 13 cities -
Dialogue: 0,0:12:23.40,0:12:26.11,Default,,0000,0000,0000,,and they're all self-confessed car addicts
Dialogue: 0,0:12:26.14,0:12:27.53,Default,,0000,0000,0000,,and car-sharing rookies -
Dialogue: 0,0:12:27.55,0:12:30.38,Default,,0000,0000,0000,,and got them to surrender\Ntheir keys for a month.
Dialogue: 0,0:12:30.40,0:12:32.25,Default,,0000,0000,0000,,Instead, these people had to walk,
Dialogue: 0,0:12:32.27,0:12:34.18,Default,,0000,0000,0000,,bike, take the train,
Dialogue: 0,0:12:34.20,0:12:36.20,Default,,0000,0000,0000,,or other forms of public transport.
Dialogue: 0,0:12:36.22,0:12:38.25,Default,,0000,0000,0000,,They could only use\Ntheir Zipcar membership
Dialogue: 0,0:12:38.29,0:12:40.59,Default,,0000,0000,0000,,when absolutely necessary.
Dialogue: 0,0:12:40.66,0:12:43.59,Default,,0000,0000,0000,,The results of this challenge\Nafter just one month
Dialogue: 0,0:12:43.62,0:12:44.68,Default,,0000,0000,0000,,was staggering.
Dialogue: 0,0:12:44.71,0:12:48.15,Default,,0000,0000,0000,,It's amazing that 413 lbs were lost
Dialogue: 0,0:12:48.20,0:12:50.65,Default,,0000,0000,0000,,just from the extra exercise.
Dialogue: 0,0:12:50.71,0:12:52.71,Default,,0000,0000,0000,,But my favorite statistic
Dialogue: 0,0:12:52.73,0:12:54.60,Default,,0000,0000,0000,,is that 100
Dialogue: 0,0:12:54.62,0:12:57.10,Default,,0000,0000,0000,,out of the 250 participants
Dialogue: 0,0:12:57.12,0:13:00.12,Default,,0000,0000,0000,,did not want their keys back.
Dialogue: 0,0:13:00.14,0:13:02.43,Default,,0000,0000,0000,,In other words, the car addicts
Dialogue: 0,0:13:02.48,0:13:04.48,Default,,0000,0000,0000,,had lost their urge to own.
Dialogue: 0,0:13:04.89,0:13:07.89,Default,,0000,0000,0000,,Now products-service systems\Nhave been around for years.
Dialogue: 0,0:13:07.91,0:13:09.82,Default,,0000,0000,0000,,Just think of libraries and laundrettes.
Dialogue: 0,0:13:09.84,0:13:11.84,Default,,0000,0000,0000,,But I think they're entering a new age,
Dialogue: 0,0:13:11.87,0:13:15.14,Default,,0000,0000,0000,,because technology\Nmakes sharing frictionless and fun.
Dialogue: 0,0:13:15.19,0:13:18.24,Default,,0000,0000,0000,,There's a great quote\Nthat was written in the New York Times
Dialogue: 0,0:13:18.26,0:13:20.22,Default,,0000,0000,0000,,that said, "Sharing is to ownership
Dialogue: 0,0:13:20.24,0:13:22.45,Default,,0000,0000,0000,,what the iPod is to the 8-track,
Dialogue: 0,0:13:22.47,0:13:25.47,Default,,0000,0000,0000,,what solar power is to the coal mine."
Dialogue: 0,0:13:26.24,0:13:29.10,Default,,0000,0000,0000,,I believe also, our generation,
Dialogue: 0,0:13:29.35,0:13:32.35,Default,,0000,0000,0000,,our relationship to satisfying\Nwhat we want
Dialogue: 0,0:13:32.37,0:13:34.01,Default,,0000,0000,0000,,is far less tangible
Dialogue: 0,0:13:34.03,0:13:36.03,Default,,0000,0000,0000,,than any other previous generation.
Dialogue: 0,0:13:36.05,0:13:39.83,Default,,0000,0000,0000,,I don't want the DVD;\NI want the movie it carries.
Dialogue: 0,0:13:39.91,0:13:41.90,Default,,0000,0000,0000,,I don't want a clunky answering machine;
Dialogue: 0,0:13:41.95,0:13:43.44,Default,,0000,0000,0000,,I want the message it saves.
Dialogue: 0,0:13:43.46,0:13:46.46,Default,,0000,0000,0000,,I don't want a CD;\NI want the music it plays.
Dialogue: 0,0:13:46.68,0:13:49.18,Default,,0000,0000,0000,,In other words, I don't want stuff;
Dialogue: 0,0:13:49.22,0:13:52.22,Default,,0000,0000,0000,,I want the needs\Nor experiences it fulfills.
Dialogue: 0,0:13:52.45,0:13:55.10,Default,,0000,0000,0000,,This is fueling a massive shift
Dialogue: 0,0:13:55.16,0:13:57.16,Default,,0000,0000,0000,,from where usage trumps possessions -
Dialogue: 0,0:13:57.18,0:14:00.18,Default,,0000,0000,0000,,or as Kevin Kelly,\Nthe editor of Wired magazine, puts it,
Dialogue: 0,0:14:00.20,0:14:03.20,Default,,0000,0000,0000,,"where access is better than ownership."
Dialogue: 0,0:14:03.64,0:14:05.64,Default,,0000,0000,0000,,Now as our possessions
Dialogue: 0,0:14:05.66,0:14:07.46,Default,,0000,0000,0000,,dematerialize into the cloud,
Dialogue: 0,0:14:07.48,0:14:09.48,Default,,0000,0000,0000,,a blurry line is appearing
Dialogue: 0,0:14:09.50,0:14:11.50,Default,,0000,0000,0000,,between what's mine, what's yours,
Dialogue: 0,0:14:11.52,0:14:13.36,Default,,0000,0000,0000,,and what's ours.
Dialogue: 0,0:14:13.38,0:14:15.05,Default,,0000,0000,0000,,I want to give you one example
Dialogue: 0,0:14:15.08,0:14:18.07,Default,,0000,0000,0000,,that shows how fast\Nthis evolution is happening.
Dialogue: 0,0:14:18.37,0:14:21.37,Default,,0000,0000,0000,,This represents an eight-year time span.
Dialogue: 0,0:14:21.39,0:14:24.32,Default,,0000,0000,0000,,We've gone from traditional car-ownership
Dialogue: 0,0:14:24.35,0:14:27.34,Default,,0000,0000,0000,,to car-sharing companies,\Nsuch as Zipcar and GoGet,
Dialogue: 0,0:14:27.43,0:14:30.43,Default,,0000,0000,0000,,to ride-sharing platforms that match rides
Dialogue: 0,0:14:30.92,0:14:33.92,Default,,0000,0000,0000,,to the newest entry,\Nwhich is peer-to-peer car rental,
Dialogue: 0,0:14:33.94,0:14:35.94,Default,,0000,0000,0000,,where you can actually make money
Dialogue: 0,0:14:35.96,0:14:39.43,Default,,0000,0000,0000,,out of renting that car\Nthat sits idle for 23 hours a day
Dialogue: 0,0:14:39.64,0:14:41.08,Default,,0000,0000,0000,,to your neighbor.
Dialogue: 0,0:14:41.64,0:14:43.25,Default,,0000,0000,0000,,Now all of these systems
Dialogue: 0,0:14:43.27,0:14:45.15,Default,,0000,0000,0000,,require a degree of trust,
Dialogue: 0,0:14:45.17,0:14:47.00,Default,,0000,0000,0000,,and the cornerstone to this working
Dialogue: 0,0:14:47.15,0:14:48.92,Default,,0000,0000,0000,,is reputation.
Dialogue: 0,0:14:48.94,0:14:50.61,Default,,0000,0000,0000,,Now in the old consumer system,
Dialogue: 0,0:14:50.63,0:14:52.56,Default,,0000,0000,0000,,our reputation didn't matter so much,
Dialogue: 0,0:14:52.58,0:14:55.38,Default,,0000,0000,0000,,because our credit history\Nwas far more important
Dialogue: 0,0:14:55.38,0:14:57.96,Default,,0000,0000,0000,,that any kind of peer-to-peer review.
Dialogue: 0,0:14:57.98,0:15:00.98,Default,,0000,0000,0000,,But now with the Web, we leave a trail.
Dialogue: 0,0:15:01.39,0:15:03.92,Default,,0000,0000,0000,,With every spammer we flag,
Dialogue: 0,0:15:03.98,0:15:06.98,Default,,0000,0000,0000,,with every idea we post, comment we share,
Dialogue: 0,0:15:07.07,0:15:09.96,Default,,0000,0000,0000,,we're actually signaling\Nhow well we collaborate,
Dialogue: 0,0:15:09.98,0:15:12.25,Default,,0000,0000,0000,,and whether we can or can't be trusted.
Dialogue: 0,0:15:12.27,0:15:14.13,Default,,0000,0000,0000,,Let's go back to my first example,
Dialogue: 0,0:15:14.26,0:15:15.72,Default,,0000,0000,0000,,Swaptree.
Dialogue: 0,0:15:16.24,0:15:18.24,Default,,0000,0000,0000,,I can see that Rondoron
Dialogue: 0,0:15:18.31,0:15:21.50,Default,,0000,0000,0000,,has completed 553 trades
Dialogue: 0,0:15:21.58,0:15:24.11,Default,,0000,0000,0000,,with a 100 percent success rate.
Dialogue: 0,0:15:24.14,0:15:27.14,Default,,0000,0000,0000,,In other words, I can trust him or her.
Dialogue: 0,0:15:28.17,0:15:30.17,Default,,0000,0000,0000,,Now mark my words,
Dialogue: 0,0:15:30.19,0:15:31.73,Default,,0000,0000,0000,,it's only a matter of time
Dialogue: 0,0:15:31.75,0:15:34.75,Default,,0000,0000,0000,,before we're going to be able\Nto perform a Google-like search
Dialogue: 0,0:15:34.78,0:15:37.15,Default,,0000,0000,0000,,and see a cumulative picture
Dialogue: 0,0:15:37.20,0:15:39.20,Default,,0000,0000,0000,,of our reputation capital.
Dialogue: 0,0:15:39.62,0:15:41.62,Default,,0000,0000,0000,,And this reputation capital
Dialogue: 0,0:15:41.67,0:15:44.67,Default,,0000,0000,0000,,will determine our access\Nto collaborative consumption.
Dialogue: 0,0:15:44.87,0:15:46.93,Default,,0000,0000,0000,,It's a new social currency, so to speak,
Dialogue: 0,0:15:46.98,0:15:49.98,Default,,0000,0000,0000,,that could become as powerful\Nas our credit rating.
Dialogue: 0,0:15:50.61,0:15:52.71,Default,,0000,0000,0000,,Now as a closing thought,
Dialogue: 0,0:15:52.87,0:15:55.87,Default,,0000,0000,0000,,I believe we're actually in a period
Dialogue: 0,0:15:55.87,0:15:57.67,Default,,0000,0000,0000,,where we're waking up
Dialogue: 0,0:15:57.69,0:15:59.69,Default,,0000,0000,0000,,from this humongous hangover
Dialogue: 0,0:15:59.87,0:16:01.87,Default,,0000,0000,0000,,of emptiness and waste,
Dialogue: 0,0:16:01.87,0:16:03.62,Default,,0000,0000,0000,,and we're taking a leap
Dialogue: 0,0:16:03.64,0:16:05.79,Default,,0000,0000,0000,,to create a more sustainable system
Dialogue: 0,0:16:05.87,0:16:07.87,Default,,0000,0000,0000,,built to serve our innate needs
Dialogue: 0,0:16:07.87,0:16:10.24,Default,,0000,0000,0000,,for community and individual identity.
Dialogue: 0,0:16:10.26,0:16:12.14,Default,,0000,0000,0000,,I believe it will be referred to
Dialogue: 0,0:16:12.16,0:16:14.16,Default,,0000,0000,0000,,as a revolution, so to speak -
Dialogue: 0,0:16:14.21,0:16:16.88,Default,,0000,0000,0000,,when society, faced with great challenges,
Dialogue: 0,0:16:17.55,0:16:19.31,Default,,0000,0000,0000,,made a seismic shift
Dialogue: 0,0:16:19.33,0:16:21.33,Default,,0000,0000,0000,,from individual getting and spending
Dialogue: 0,0:16:21.35,0:16:24.35,Default,,0000,0000,0000,,towards a rediscovery of collective good.
Dialogue: 0,0:16:24.37,0:16:26.37,Default,,0000,0000,0000,,Now, I know I've thrown a lot at you,
Dialogue: 0,0:16:26.39,0:16:29.61,Default,,0000,0000,0000,,so I've made a quick,\N2 minute recap video,
Dialogue: 0,0:16:29.63,0:16:33.11,Default,,0000,0000,0000,,that's going to summarize\Neverything I just condensed
Dialogue: 0,0:16:33.13,0:16:35.39,Default,,0000,0000,0000,,and I'll be back for one short sentence.
Dialogue: 0,0:16:36.100,0:16:38.13,Default,,0000,0000,0000,,(Video) (Music)
Dialogue: 0,0:16:38.15,0:16:40.97,Default,,0000,0000,0000,,[What's mine is yours\Nthe rise of collaborative consumtion]
Dialogue: 0,0:16:41.52,0:16:43.52,Default,,0000,0000,0000,,[Redistribution markets]
Dialogue: 0,0:16:44.63,0:16:46.63,Default,,0000,0000,0000,,[Product service systems]
Dialogue: 0,0:16:47.31,0:16:49.31,Default,,0000,0000,0000,,[Collaborative lifestyles]
Dialogue: 0,0:16:50.66,0:16:52.02,Default,,0000,0000,0000,,[Collaborative consumption]
Dialogue: 0,0:16:52.04,0:16:55.79,Default,,0000,0000,0000,,[Traditional sharing, bartering, lending\Ntrading, renting, gifting and swapping]
Dialogue: 0,0:16:55.79,0:16:58.17,Default,,0000,0000,0000,,[Redefined through technology\Nand peer communities]
Dialogue: 0,0:16:58.17,0:17:00.80,Default,,0000,0000,0000,,[To reinvent not just what we consume\Nbut how we consume]
Dialogue: 0,0:17:00.80,0:17:03.48,Default,,0000,0000,0000,,[But just how large and far-reaching\Nis this groundswell?]
Dialogue: 0,0:17:03.48,0:17:06.16,Default,,0000,0000,0000,,[Product service systems\Npay for the benefit of a product]
Dialogue: 0,0:17:06.16,0:17:09.26,Default,,0000,0000,0000,,[what it does for you - without needing\Nto own the product outright]
Dialogue: 0,0:17:09.26,0:17:12.66,Default,,0000,0000,0000,,[Bike sharing is the fastest growing form\Nof transportation in the world]
Dialogue: 0,0:17:12.66,0:17:15.58,Default,,0000,0000,0000,,[Every major city in the US is developing\Na bike-share program]
Dialogue: 0,0:17:15.58,0:17:17.74,Default,,0000,0000,0000,,[and it is a global phenomenon]
Dialogue: 0,0:17:17.74,0:17:19.93,Default,,0000,0000,0000,,[Estimated worth\Nof car sharing market by 2015]
Dialogue: 0,0:17:19.93,0:17:21.83,Default,,0000,0000,0000,,[12.5 billion USD]
Dialogue: 0,0:17:21.83,0:17:24.46,Default,,0000,0000,0000,,[When the big 3 car companies\Nwere being bailed out]
Dialogue: 0,0:17:24.46,0:17:27.11,Default,,0000,0000,0000,,[there was a 35.5% increase\Nin car sharing membership]
Dialogue: 0,0:17:27.11,0:17:29.94,Default,,0000,0000,0000,,[When Zipcar released its iPhone app\Nit had 100.000 downloads]
Dialogue: 0,0:17:29.94,0:17:31.36,Default,,0000,0000,0000,,[within the first week alone]
Dialogue: 0,0:17:31.36,0:17:34.49,Default,,0000,0000,0000,,[Peer-to-peer rental of items\Nfrom buggies to bulldozers is booming]
Dialogue: 0,0:17:34.49,0:17:36.44,Default,,0000,0000,0000,,[36 billion USD = current estimated size]
Dialogue: 0,0:17:36.44,0:17:37.62,Default,,0000,0000,0000,,[Redistribution markets]
Dialogue: 0,0:17:37.62,0:17:39.64,Default,,0000,0000,0000,,[Used or pre-owned good are redistributed]
Dialogue: 0,0:17:39.64,0:17:41.21,Default,,0000,0000,0000,,[from where they are not needed]
Dialogue: 0,0:17:41.21,0:17:43.09,Default,,0000,0000,0000,,[to somewhere\Nor someone where they are]
Dialogue: 0,0:17:43.09,0:17:46.69,Default,,0000,0000,0000,,[500 billion USD = estimated market for\Nthe exchange of secondary goods (2009)]
Dialogue: 0,0:17:46.69,0:17:49.58,Default,,0000,0000,0000,,[Freecycle is the third most searched\Nenvironmental term after]
Dialogue: 0,0:17:49.58,0:17:52.06,Default,,0000,0000,0000,,[1. global warming 2. recycling\Nbut ahead of 'Earth']
Dialogue: 0,0:17:52.06,0:17:55.09,Default,,0000,0000,0000,,[Over 9.1 million iteams are gifted\Nevery year through freecycle]
Dialogue: 0,0:17:55.09,0:17:56.86,Default,,0000,0000,0000,,[If you piled them in a garbage truck]
Dialogue: 0,0:17:56.86,0:17:59.11,Default,,0000,0000,0000,,[they would reach\N7x the height of Mount Everest]
Dialogue: 0,0:17:59.11,0:18:02.10,Default,,0000,0000,0000,,[On April 2nd 2010. 23,000 books\Nwere swapped on BookMooch alone]
Dialogue: 0,0:18:02.10,0:18:05.08,Default,,0000,0000,0000,,[Collaborative lifestyles\Nthe sharing and exchange of resources]
Dialogue: 0,0:18:05.08,0:18:07.67,Default,,0000,0000,0000,,[and assets such as time, food,\Nspace, skills and money]
Dialogue: 0,0:18:07.67,0:18:09.87,Default,,0000,0000,0000,,[The growth of local farmer's markets\Nin the US]
Dialogue: 0,0:18:09.87,0:18:12.02,Default,,0000,0000,0000,,[1994 = 1775 markets\N2006 = 4,385 2009 = 5,274]
Dialogue: 0,0:18:12.02,0:18:15.20,Default,,0000,0000,0000,,[There are now 1000 more\Nfarmer's markets than Walmarts in the USA]
Dialogue: 0,0:18:15.20,0:18:18.33,Default,,0000,0000,0000,,[$10 bln = amount of goods and services\Nbartered by business in 2008]
Dialogue: 0,0:18:18.33,0:18:21.27,Default,,0000,0000,0000,,[The amount of land posted \Non 'garden dating site' Sharedearth]
Dialogue: 0,0:18:21.27,0:18:23.69,Default,,0000,0000,0000,,[within just 3 months of launch -\N29 million sq feet]
Dialogue: 0,0:18:23.69,0:18:26.74,Default,,0000,0000,0000,,[expected to increase to 1,000 million\Nsquare feet by end of 2010]
Dialogue: 0,0:18:26.74,0:18:30.08,Default,,0000,0000,0000,,[Peer-to-peer lending is predicted\Nto reach $5.8 bln by the end of 2010]
Dialogue: 0,0:18:30.08,0:18:33.03,Default,,0000,0000,0000,,[10% of the total personal loan market,\Nincluding the big banks]
Dialogue: 0,0:18:33.03,0:18:35.52,Default,,0000,0000,0000,,[The most visited\Nhospitality service on the internet]
Dialogue: 0,0:18:35.52,0:18:38.05,Default,,0000,0000,0000,,[Couchsurfing, averaging 40 million\Npage views per day
Dialogue: 0,0:18:38.05,0:18:40.05,Default,,0000,0000,0000,,[Think strangers can't trust one another?]
Dialogue: 0,0:18:40.05,0:18:43.23,Default,,0000,0000,0000,,[4,725,624 couchsurfing stays\Nhave been rated a positive experience]
Dialogue: 0,0:18:43.23,0:18:45.26,Default,,0000,0000,0000,,[that's a staggering 99.797% of all stays]
Dialogue: 0,0:18:45.26,0:18:47.38,Default,,0000,0000,0000,,[this socioeconomic groundswell\Nis really big]
Dialogue: 0,0:18:47.38,0:18:49.10,Default,,0000,0000,0000,,[and it's only just getting started]
Dialogue: 0,0:18:49.10,0:18:52.34,Default,,0000,0000,0000,,[20 century = hyper-consumption\N21 century = collaborative consumption]
Dialogue: 0,0:18:52.34,0:18:54.34,Default,,0000,0000,0000,,(Applause)\NRachel Botsman: Thank you.
Dialogue: 0,0:18:55.60,0:18:58.59,Default,,0000,0000,0000,,I'm on a mission\Nto make sharing cool and hip.
Dialogue: 0,0:18:59.34,0:19:00.79,Default,,0000,0000,0000,,Because I really believe
Dialogue: 0,0:19:00.79,0:19:03.66,Default,,0000,0000,0000,,it can disrupt outdated modes of business,
Dialogue: 0,0:19:03.66,0:19:05.46,Default,,0000,0000,0000,,help us leapfrog
Dialogue: 0,0:19:05.46,0:19:08.00,Default,,0000,0000,0000,,over wasteful forms of hyper-consumption
Dialogue: 0,0:19:08.00,0:19:11.26,Default,,0000,0000,0000,,and teach us when enough really is enough.
Dialogue: 0,0:19:11.28,0:19:14.12,Default,,0000,0000,0000,,Thank you very much.\N(Applause)