The sharing economy is a fast-growing innovation opportunity. PricewaterhouseCoopers projects a 20-fold increase between 2016 and 2025 – reaching €570 billion ($674 billion). Its best know representatives are Uber and Airbnb. But there are many other wonderful examples and types of sharing economy platform business models.
It is common understanding that the role of the innovator is to introduce new methods, ideas, products/services or business models. But does it end there?
The answer is a resounding “no”. After having built one of the highest valued start-ups (by market capitalisation), Uber CEO and co-founder Travis Kalanick had to step down as top executive. The reason were not a lack of growth or bad financial results. It was due to the poor management of negative impacts of the platform. At the same time, Airbnb is awaiting dozens of regulatory decisions all over the world that can wipe off a considerable amount of their housing stock in the affected cities.
Innovators have to understand and manage the implications of their ideas to participants and non-participants before a negative public opinion forms which would put pressure on regulators to introduce heavy-handed, innovation-stifling measures in place.
Today we will look how innovators can help manage the foot print of their companies, the public discourse and regulations in a positive way using innovative ideas.