The $haring Economy: Peering into the New Business Model
Tech@Tuck, the highlight of the Britt Series each year, focused on the sharing economy and how ubiquitous connectivity enables new business models to disintermediate established players and transform industries. The rise of the hyperconnected consumer has enabled new players to emerge in industries such as transportation, hospitality, and other asset-based services that bypasses the need for property ownership in favor of utilization-based fees. The result is an economy where consumers no longer own assets directly, but have easy access to the services provided by those assets in the palm of their hand via their mobile device. The implications of transitioning from an ownership-based economy to a utilization-based economy are monumental, and we explored these topics at Tech@Tuck this year. Specifically, we looked at key players in the sharing economy; what is the growth potential for the sharing economy; what risks are associated with participation; what macroeconomic forces are driving consumers toward collaborative consumption and what impact might this new model have on traditional measures of commerce.
Spencer Bryan T’13, Product Manager, Lending Club
Spencer Bryan is a Product Manager at Lending Club, focused on automating and scaling the underwriting and servicing aspects of the business. Prior to becoming a Product Manager, Spencer was an Execution Manager, where he led strategic projects within the Operations group.
Before Lending Club, Mr. Bryan worked at TaskRabbit and Allianz Global Investors Capital (formerly Oppenheimer Capital). He earned his MBA from Tuck in 2013, and his BBA from the University of Mississippi in 2006. He lives in San Francisco with his wife, Haley, and their dog, Gracie.
Justin Holmes, Director, Corporate Communications, Zipcar
Justin Holmes started at Zipcar’s director of corporate communications in September 2014. In his role, he is responsible for Zipcar’s communications and public policy strategy. He reports directly to the chief marketing officer.
Prior to joining Zipcar, Justin served as interim chief information officer for the City of Boston under Boston Mayor Martin J. Walsh. The chief information officer oversees the department of innovation and technology, which leverages technology to improve the business of government and delivery of city services. Before his appointment in January 2014, Justin served as director of constituent engagement for the City of Boston under Boston Mayor Thomas M. Menino.
Justin has also held positions as director of government relations at the Massachusetts Convention Center Authority, chief of policy and communications for Boston City Council President Maureen Feeney and director of communications at Boston College High School. Justin is a native Bostonian and is a graduate of the College of the Holy Cross.
Steven Kahl, Associate Professor of Business Administration, Tuck School of Business
Steven J. Kahl is an Associate Professor in the Strategy and Management Area at the Tuck School of Business. Steve’s research examines the social and cognitive foundations of new market creation and how occupational groups leverage new technologies to expand their jurisdictional control. His research has been published in top journals in his field. Steve is a graduate of Dartmouth, received a masters in philosophy from the University of Minnesota, and PhD from the Massachusetts Institute of Technology.
He has taught at the Tuck School since 2012 and at the University of Chicago Booth School of Business from 2007-2012. Prior to academia, Steve worked as a technology consultant and was an equity analyst at Piper Jaffray and Goldman Sachs following the enterprise software sector.
Vendor Demonstrations from 11:30AM-1:30PM in Conway Foyer with:
Just What IS the Sharing Economy?
The Future of the Sharing Economy
The Sharing Economy
Kate Barlow speaks with FreshAir Sensor's Founder and CEO, Jack O’Toole T'14, (Jack is also a Founding Member of MARSOC,) and Drew Matter, Vice President of Manufacturing at FreshAir, and former NASA engineer.
Verizon representatives speak with a community member.
CDS MBA Fellow, Laura-Irina Ionita, has her blood pressure taken wirelessly and views the results on an app.
During lunch break, students and staff interact with the vendors.
These novel sensors deliver interesting tech. It is the only technology currently available that detects airborne concentrations of nicotine and marijuana.
Drew explains how the sensors work to a student.
(left to right) Spencer Bryan T'13; Professor Kahl; Patrick Wheeler, Program Manager; Justin Holmes, Zipcar; Professor Helfat; Professor Kleinbaum.
Spencer Bryan T'13, Product Manager at Lending Club; Associate Professor of Business Administration, Steven J. Kahl and Justin Holmes, Director of Corporate Communications at Zipcar pause for a photo before the discussion.
The room of staff and students listen to the sharing economy discussion.
Justin explains how Zipcar was the first car sharing company and how 2015 marks its 15th year anniversary.
Spencer says the sharing economy will find more active layers and offers the example of a neighborhood where only one home "owns" the lawnmower and all the neighbors pay for shared use.
Justin responds to a student's question about regulatory concerns.
The students, staff and faculty enjoyed exploring this new economy.