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The Social Business Imperative: Adapting Your Business Model to the Always-Connected Customer, First Edition by Clara Shih

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3. Trust, Convenience, and Millennials: The Collaborative Economy

“Give me what I want, when I want it.”

—Consumers everywhere

Drivers for hire. House rental this weekend. Valet service from anywhere. Ingredients for tonight’s dinner recipe delivered to your doorstep. Someone to clean your house, mow your lawn, help you move, cater your party, walk your dog, or babysit your kid RIGHT NOW. The collaborative economy is all around us, accessible via mobile apps on our smartphones through which we can hire underutilized assets (such as empty houses, idle cars, and labor) from other community members via Lyft, Uber, Airbnb, Luxe, Instacart, Thumbtack, TaskRabbit, and other real-time service marketplaces.

While collaborative economy—also known as the ...

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