It’s hard being a thoughtful consumer these days. There are so many things to consider. Rachel Botsman and Paul Smith are leading thinkers in this new world of exchange. They join Waleed Aly in The Drawing Room.
In this interview, Rachel reveals what she thinks is the enemy of trust, and why the answer to our current trust deficit in society is accountability. More
Why is the 'trust shift' one of the biggest social transformations in human history? More
The ‘sharing economy’ is seeing people share rooms, clothes, cars, and even pets as they find creative ways to make and save money, although critics warn that entire industries are being undermined. Watch video on ABC
“I agree that we must not be overly evangelical,” said Rachel Botsman, an expert on collaborative consumption
“Brands that aren’t thinking about the sharing economy are going to get left behind,” said Rachel Botsman .
Home swaps, driving your neighbour’s car, private car parking in your drive, even renting your neighbour’s clothes. They are all part of a new style of collaborative enterprise in which nearly everyone can join and (maybe) make money: the ‘shared economy’.
Author Rachel Botsman, one of the preeminent writers on the sharing economy, shared this vision in a 2012 TEDGlobal talk. “It’s only a matter of time before we’ll be able to perform a Facebook- or Google-like search and see a complete picture of someone’s behaviors in different contexts over time,” she said.
“We have digitised books, pictures and music — next is digitising identity and reputation and this will fundamentally transform whom and how we trust,” says Rachel Botsman
“We’re experiencing a significant values shift,” according to collaborative consumption expert RachelBotsman,
“[Companies] don’t want to be like the music industry and look back in 10 years to realize they missed the boat,” said Rachel Botsman
“The story you read in the media — and often echoed by travel industry incumbents — is that it’s a Generation Y thing for price-sensitive travelers,” says Rachel Botsman
If you think of the industrial age, it has centralized power, it has centralized wealth, it has centralized production and it has centralized jobs. We’re now living in an age that I call distributed power, where power is moving to the edges, to networks, to individuals.
Rachel Botsman believes sharing is the new democracy. She tells Jasmine Gardner why she rents her baby kit, hasn’t owned a car for 14 years and teaches governments how to cut out middle men by shifting power to the people.