how would people describe your judgment your knowledge your behaviors in different situations
today i 'd like to explore with you why the answer to this question will become profoundly important in an age where reputation will be your most valuable asset i 'd like to start by introducing you to someone whose life has been changed by a marketplace fueled by reputation
i caught up with him recently where over the course of several cups of tea he told me how hosting guests from all over the world has enriched his life more than fifty people have come to stay in the eighteenth century watchhouse he lives in with his cat squeak now
i mention squeak because sebastian 's first guest
as many of you know airbnb is a peer to peer marketplace that matches people who have space to rent with people who are looking for a place to stay in over one hundred and ninety two countries
the places being rented out are things that you might expect like spare rooms and holiday homes but part of the magic is the unique places that you can now
of how technology is creating a market for things that never had a marketplace before now let me show you these heat maps of paris to see how insanely fast it 's growing this image here is from two thousand and eight
the pink dots represent host properties even four years ago letting strangers stay in your home seemed like a crazy idea
now the same view in two thousand and ten and now two thousand and twelve there is an airbnb host on almost every main street in paris now
from skills to spaces to material possessions in ways and on a scale never possible before it 's an economy and culture called collaborative consumption and through it people like sebastian are becoming micro entrepreneurs they 're empowered to make money and save money from their existing assets
but the real magic and the secret source behind collaborative consumption marketplaces like airbnb isn 't the inventory or the money it 's using the power of technology to build trust between strangers
connections that are enabling us to rediscover a humanness that we 've lost somewhere along the way by engaging in marketplaces like airbnb like kickstarter like etsy that are built on personal relationships versus empty transactions
to the wonderful world of collaborative consumption that 's enabling us to match wants with haves in more democratic ways now
but the key reason why it 's taking off now so fast
is because every new advancement of technology increases the efficiency and the social glue of trust to make sharing easier and easier
now i 've looked at thousands of these marketplaces and trust and efficiency are always the critical ingredients let me give you an example
meet forty six year old chris mok who has i bet the best job title here of superrabbit now
now the story behind taskrabbit starts like so many great stories with a very cute dog by the name of kobe
leah quit her job and taskrabbit was born
at the time she didn 't realize that she was actually hitting on a bigger idea she later called service networking it 's essentially about how we use our online relationships to get things done in the real world
now the way taskrabbit works is people outsource the tasks that they want doing name the price they 're willing to pay and then vetted rabbits bid to run the errand yes
but i love that the number one task posted over a hundred times a day is something that many of us have felt the pain of doing yes assembling ikea furniture
and seventy percent of this new labor force were previouslyunemployed or underemployed i think taskrabbit and other examples of collaborative consumption are like lemonade stands on steroids they 're just brilliant now
connecting trustworthy strangers to create all kinds of people powered marketplaces
will transform the way we trust one another face to face
now with all of my optimism and i am an optimist comes a healthy dose of caution or rather an urgent need to address some pressing complex questions
how to ensure our digital identities reflect our real world identities do we want them to be the same how do we mimic the way trust is built face to face online how do we stop people who 've behaved badly in one community doing so under a different guise
in a similar way that companies often use some kind of credit rating to decide whether to give you a mobile plan or the rate of a mortgage
marketplaces that depend on transactions between relative strangers need some kind of device to let you know that sebastian and chris are good eggs and that device is reputation
reputation is the measurement of how much a community trusts you
now laughter i love that word superrabbit and interestingly what chris has noted is that as his reputation has gone up so
the difference today is that with every trade we make comment we leave
thirty million rides have been shared on carpooling com this year two billion dollars worth of loans will go through peer to peer lending platforms this adds up to millions of pieces of reputation data on how well we behave or misbehave
now capturing and correlating the trails of information that we leave in different places is a massivechallenge but one we 're being asked to figure out
what the likes of sebastian are starting to rightfully ask is shouldn 't they own their reputation data shouldn 't the reputation that he 's personally invested on building on airbnb mean that it should travel with him from one community to another
what i mean by this is say he started selling second hand books on amazon why should he have to start from scratch
it 's a bit like when i moved from new york to sydney it was ridiculous i couldn 't get a mobile phone plan because my credit history didn 't travel with me i was essentially a ghost in the system now
adding up tweets and likes and friends in a clout like fashion those guys are measuring influence not behaviors that indicate our trustworthiness but the most important thing that we have to keep in mind is that reputation is largely contextual
just because sebastian is a wonderful host does not mean that he can assemble ikea furniture the big challenge is figuring out what data makes sense to
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 i envision a realtime stream of who has trusted you when where and why
your reliability on taskrabbit your cleanliness as a guest on airbnb the knowledge that you display on quora or unclear they 'll all live together in one place
now this is a concept that i 'm currently researching and writing my next book on and currently define as the worth of your reputation your intentions capabilities and values across communities and marketplaces
this isn 't some far off frontier there are actually a wave of startups like connect me and legit and trustcloud that are figuring out
how you can aggregatemonitor and use your online reputation
now i realize that this concept may sound a little big brother to some of you
and how he bought the cat to influence his now
that value into reputation capital ultimately when we get it right reputation capital could create a massivepositive disruption in who has power trust
and in many instances limit what we can do in the world indeed reputation is a currency that i believe will become more powerful than our credit history in the twenty first century reputation will be the currency that says that you can trust me
now the interesting thing is reputation is the socioeconomic lubricant that makes
collaborative consumption work and scale but the sources it will be generated from and its applications are far bigger than this space alone
tech bloggers and entrepreneurs joel spolsky and jeff atwood decided to start something called stack overflow
now stack overflow is basically a platform where experienced programmers can ask
other good programmers highly detailed technical questions on things like tiny pixels and chrome extensions
and it actually didn 't surprise them what they heard was that users were putting their reputation scores on the top of their resumes
and that recruiters were searching the platform to find people with unique talents now thousands of programmers today are finding better jobs this way because stack overflow and the reputation dashboards provide a priceless window into how someone really behaves and what their peers think of them
but the bigger principle of what 's happening behind stack overflow i think is incredibly exciting people are starting to realize that the reputation they generate in one place has value beyond the environments from which it was built
they all talk about how having a high reputation unlocks a sense of their own power
on stack overflow it creates a level playing field enabling the people with the real talent to rise to the top on airbnb the people often become more important than the spaces on taskrabbit it gives people control of their economic activity
he 's turning fifty this year and he 's convinced that the rich tapestry of reputation he 's built on airbnb will lead him to doing something interesting with the rest of his life
we 're living through one of those moments i believe that we are at the start of a collaborative revolution that will be as significant as the industrial revolution
in the twentieth century the invention of traditional credit transformed our consumersystem and in many ways controlled who had access to what
thank you very much
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