Date
25 May 2018
As sharing economy concept becomes popular, one can easily enjoy the experience of driving a luxury car without owning one. Photo: Porsche
As sharing economy concept becomes popular, one can easily enjoy the experience of driving a luxury car without owning one. Photo: Porsche

How the sharing economy model keeps evolving

In addition to the arrival of new technologies, the evolution of the economic model is also an important trend that will shape the future.

Some of these new models include sharing economy, customized rental, pay-on-demand for technology and data resources. The innovative approaches have further divided the ownership and use rights.

Lincoln Motor and Volvo, for instance unveiled taxi services at an auto show in Los Angeles in November last year. Porsche also introduced its own rental service, which will come with insurance policy, roadside assistance, car wash services, etc.

Many consumers don’t actually care whether they own a car; instead, they only want to use the car and let someone else deal with all the hassle.

It’s reported that Guiyang, the capital of China’s Guizhou province, is mulling over a plan to share idle car parking space when people drive their cars out for work during the daytime.

All these new economic models are dependent on data construction. Data sharing, agile software development, cloud computing, storage structure suitable for less structural data, secure data transmission and protection are all essential parts.

In cloud computing, public cloud market leader Amazon Web Services said it will start charging its customers by the second for use of its popular EC2 virtual slices of servers in its data centers.

The highly flexible charging scheme is set to have a big impact on the cloud industry.

Apart from Amazon, other internet giants like Google and Alibaba have also started offering hi-tech tools to these who can’t afford to invest in expensive equipment — such as small firms or private business owners.

What a wonderful thing it is if you can have access to those cutting-edge deep learning models and only pay for the computer resources you actually use.

The full article appeared in the Hong Kong Economic Journal on Jan 24

Translation by Julie Zhu

[Chinese version 中文版]

– Contact us at [email protected]

RC

Venture Partner of Sequoia Capital China, former head of the data committee and vice president at Alibaba Group.

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