Trust isn’t shrinking; it’s changing. We’re now in an era of “distributed trust,” where trust in institutions is down but trust in individuals is up.
What's mine is yours
A ground-breaking book, What’s Mine is Yours defines the theory of "collaborative consumption," and explains how it is transforming the traditional landscape of business and society. It charts the rise of leading companies such as Airbnb, LendingClub and RelayRides that uses digital technologies to enable the sharing and exchange of all kinds of assets from spaces to skills to 'stuff' in ways that represent a new era of trust. Buy the book
This TED talk explores how trust is shifting away from institutions towards a distributed model, into the hands of all of us. While trust in banks, governments and even the church is collapsing all around us, technology is enabling trust between people who have never met before. And that’s revolutionary. More
By 2030, we’ll see credit scoring expanding into ‘life scoring’. Identity and reputation will be digitised and analysed in minute detail, shaping a future where a personal ‘trust score’ will be the norm, with all the benefits and drawbacks that might bring.
The self-driving problem nobody is talking about
The Chinese government plans to launch its Social Credit System in 2020. The aim? To judge the trustworthiness – or otherwise – of its 1.3 billion residents.
Faced with a choice of babysitters, which do you rely on: your instinct – or the algorithm that tells you to book the one in the green top?
Highlights from Rachel’s talk at Crowd Forum about the trust shift that is transforming the world.
Are we moving to a new era, in which we trust institutions less, but people and networks more? If this is so, what does it mean for those industries that are critically reliant on trust – such as banking?
Nesta hosted the In Conversation event Trust: Playing by new rules in which Rachel Botsman discussed the current state of trust in Britain and her new book Who Can You Trust?
In the future, the question won’t be “Should we trust robots?” but “Do we trust them too much?” In this essay adapted from “Who Can You Trust”, Rachel introduces a bot, “Alexa”, to her daughter to understand how quickly we trust robots and why should we train our children to not trust so easily.
How is Joshua Browder rethinking legal assistance for the 21st century? Learn how his chatbot, DoNotPay, plans to help people with legal issues ranging from parking tickets to refugee status, in this month’s “Industry Hackers” column.
In this video, Rachel explains how much of the change happening in today’s world can be understood through the lens of trust as we move from an age built on institutional trust to one built on distributed trust.
Learn how Shivani Siroya’s company, Tala, uses phone data to make loans to people without traditional credit histories in emerging markets, in this month’s “Industry Hackers” column.
How has David Lang launched thousands of ocean expeditions through OpenROV? Learn about David’s fun approach to making more people care about the ocean and what his thoughts are on citizen science, in this month’s “Industry Hackers” column.
How is Martin Varsavsky rethinking family planning for the 21st century? Learn how his company, Prelude, plans to transform the multibillion-dollar infertility industry to help women and couples have healthy babies when they are ready, in this month’s “Industry Hackers” column.
How is Scott Walchek helping people to have better agency over the things they own? Learn about how his company, Trov, uses a design-led approach to manage risk in real time, in this month’s “Industry Hackers” column.
How is Jessi Baker helping retailers make their products transparent and traceable? Learn about how her company, Provenance, uses the blockchain to track the journey of the materials as they move along the supply chain, in this month’s “Industry Hackers” column.
How is Luis von ahn using intelligent apps to educate people? Learn about Duolingo’s fun approach to making learning languages more fun and effective, in this month’s “Industry Hackers” column.
How is Will Dean reinventing self-help guides through his muddy obstacle course, Tough Mudder?
Spend an afternoon with Alain de Botton, Rachel Botsman, Simon Longstaff, Stu Hunter and Louise Herron who will explore how businesses can better bridge the gap between the need for profit and the deeper human and emotional needs of their staff and customers. Rachel will be talking collaboration and trust. Purchase tickets on TSOL
How is Lydia Gilbert creating a radically different shopping experience for plus-size women with her start-up Dia&CO?
This TED talk explores how trust is shifting away from institutions towards a distributed model, into the hands of all of us. While trust in banks, governments and even the church is collapsing all around us, technology is enabling trust between people who have never met before. And that’s revolutionary.
This session explores the tensions inherent in the rise of the “collaborative” or “sharing” economy with regard to the nature of how people work.
Five years since her talk about the sharing economy at the RSA, Rachel returns to look back on the evolution of the sector. She reflects on what she got right and what she never saw coming and discusses where it’s heading next.
How is Daniel Gandesha trying to democratise property investment with his company, Property Partner?
How is Josh Tetrick trying to crack the broken egg industry with his company, Hampton Creek? Learn about Josh’s plant-based approach to food production and how he plans to save the the planet.
How will Patients Like Me, an online platform that allows patients to share their health data, transform research and the healthcare industry?
Learn more about Gabriella and her view point of how to reimagine cities in this monthly column in the Australian Financial Review, “Industry Hackers”, which explores the mindset of pioneers and entrepreneurs who see the world differently.
As a part of WIRED World 2016, the stand-alone issue for the magazine where it gives readers insights into the year ahead, Rachel goes into how online person-to-person interactions are setting the stage for more honest offline human behaviour.
This case study, prepared for the Collaborative Economy course taught by Rachel Botsman at Said Business School, aims to answer what makes Airbnb a revolutionary travel company. What values are embedded into its culture that guide the company in handling tough management and trust debacles and help it stay focused while growing at an exponential rate?
Why did Yoni Assia, the 34-year-old founder of eToro get hooked on trading at the age of 13? What are his plans to make the world a better place? Learn more about Yoni and what makes him tick in this new monthly column in the Australian Financial Review, “Industry Hackers”.
In the session “The Trust Shift” at the 2015 Drucker Forum, Rachel explains the critical role technology-facilitated trust plays in enabling people to be open to new ideas and other people.
How can Tim Hwang, a 23-year-old entrepreneur, disrupt the data intelligence industry with his start-up, FiscalNote? Learn about the chain of events that led Tim to build FiscalNote and learn how to adopt his outlook in this new monthly column in the Australian Financial Review, “Industry Hackers”, which explores the mindset of pioneers and entrepreneurs who see the world differently.
In this article originally posted on medium.com, Rachel provides a dictionary of sharing economy terms.
There is a shift from trust in institutions to ‘peer trust’. This emerging type of trust greases the wheels of business, facilitates person-to-person relationships and changes the ‘real world’ behaviour of people. And its power is being harnessed by both disruptive start-ups and massive brands.
What does it take to attempt to disrupt the porn industry? A brilliant and brazen woman like Cindy Gallop. Learn how to hack her mindset in this interview.
There is a shift from trust in institutions to ‘peer trust’. This emerging type of trust greases the wheels of business, facilitates person-to-person relationships and changes the ‘real world’ behavior of people. And its power is being harnessed by both disruptive start-ups and massive brands.
Digital technologies are changing how and whom we trust in ways that are disrupting many industries. Rachel explains why the currency of the new economy is trust and how we need to think differently about client experiences to build meaningful relationships and loyalty.
Collaborative business models from Lending Club to Airbnb to Uber are rapidly challenging and changing industries. Rachel gets underneath the disruption, making sense of the big shifts this new economy is creating and strategies for brands to get on the right sense of the ‘sharing’ transformation.
A new trust framework is emerging in the collaborative economy, the ‘Trust Stack’.
What makes Estonia one of the most wired countries in the world? Rachel examines the digital infrastructure that is powering this small nation.
Rachel explains why the currency of the new economy is trust and how the emerging ‘peer trust’ dynamic changes how people access things in the real world and creates communities not marketplaces.
The terms “sharing economy,” “peer economy,” “collaborative economy,” “on-demand economy,” “collaborative consumption” are often being used interchangeably. Rachel provides clarifications and current definitions to these terms, in this article released on FastCompany.
Rachel Botsman, currently teaching an M.B.A. course on the collaborative economy at Oxford University’s Saïd Business School, says the sharing economy is transforming the labor market to the benefit of millions of workers. Andrew Keen, executive director of the Silicon Valley innovation salon Futurecast, says workers in the sharing economy are being shortchanged.
What are the implications of review systems on how people behave on person-to-person driven platforms? What important questions does user data collection on these platforms pose to people?
A lot of organizations are bringing in chief digital officers to oversee innovation and technology.But what do chief digital officers do? And what is the measure of their success?
Why are high cost professional service providers such as lawyers, accountants and management consultants logical targets for disruptive business models?
What can big businesses learn about loyalty from collaborative economy brands?Rachel discusses the opportunities to engage people and build loyalty in new ways.
Why do tech predictions from even our greatest thinkers and innovators – Steve Jobs, Bill Gates and Paul Krugman – fail?
How do you identify the opportunities to disrupt and innovate in the collaborative economy? Focus on these five areas where customers feel pain.
Rachel challenges the Jewish Community to devise ways to tap underutilized assets in their communities just like companies such as Airbnb and Lyft do.
Filmed at The General Assembly of Jewish Federations
Nesta UK in collaboration with Collaborative Lab, aims to answer some big questions regarding this new economic activity, focusing on the UK context.
What has changed about shipping and local delivery? Rachel gives insight on the different opportunities in this space.
Vision Critical in partnership with Collaborative Lab and Nine! Rewards, conducted the first-ever research to look at the uptake and enthusiasm for collaborative economy services in the Australian Market.
How can traditional organizations apply collaborative thinking to meet emerging customer needs and create new sources of value?
How is technology enabling a new generation of person-to–person and crowd–driven funding, lending, currency and investment services that will decentralize and democratize finance, money and banking?
Changes in technology fundamentally change the way people do things and thus poses new challenges to policymakers and regulators who will try to figure out how to protect the public and resist pressure from players with a vested interest in protecting the status quo.
Rachel explains how technology can help bring back some of the things we’ve lost in society and business: trust, empowerment, community and humanness.
Filmed at the World Council of Credit Unions
How will our ability to share spaces, boats, planes, local knowledge, cars, dinner tables and office spaces transform the hospitality industry?
How will wearable tech transform our behavior: how we pay, how work gets done, how we manage our health? Rachel discusses the use of wearable tech as the ‘remote control’ to other technology around us.
Which continent has the fastest take-up of “mobile money” in the world? It is not North America, Australia or Asia that pioneered the idea a few years ago– it is Africa. Rachel discusses what makes this market fertile for mobile money to take off.
What do terms like “peer economy,” “collaborative economy,” and “collaborative consumption” mean and can they be used synonymously? Rachel provides some clarity on these definitions.
Rachel explains that reputation capital will lead to an economy that is incredibly empowering, taking us away from a financial world based largely on faceless transactions and moving us to an age built on humanness.
Filmed at Wired Money
This diagram shows collaborative consumption systems, principles and drivers.
Rachel discusses the importance of online reputation in peer-to-peer marketplaces and how reputation data becomes the window into whether we can be trusted or not.
Rachel explains the real magic, that makes companies like Airbnb and Taskrabbit work – the power of technology to build trust between strangers and create what she calls ‘reputation capital’.
Filmed at TED Global
This infographic charts the rise of collaborative consumption: the rapid explosion in traditional sharing, bartering, lending, trading, renting, gifting, and swapping redefined through technology and peer communities.
A graphic showing the car sharing landscape when it was mapped out in 2011. This is the joint work of Collaborative Fund and Hyperakt. “The Bright Future of Car Sharing” explores car sharing and its impact around the world.
Rachel says that if the 20th century was defined by hyper consumption, the 21st century will be defined by collaborative consumption. She describes collaborative consumption to be about “reputation, community and shared access” as opposed to “credit, advertising and individual ownership”.
Filmed at Wired
This article is adapted from the book “What’s Mine Is Yours: The Rise of Collaborative Consumption”. It describes the three systems collaborative consumption companies can be organized into: product service systems, redistribution markets and collaborative lifestyles.
A ‘Big Shift’ from the 20th century, a time defined by hyper-consumption, to a 21st century age of Collaborative Consumption, is underway.
Rachel explores how online communities created around sharing cars, goods and short-term accommodation is changing human behavior.
Filmed at TEDxSydney