The 2015 Global Economy Pulsecheck

The 2015 Global Crowd Economy Pulsecheck

Sean Moffitt, Managing Director, Wikibrands/CSW2

April, 2015, Singapore – Global Crowdsourcing Week

@seanmoffitt @wikibrands @crowdweek #cswglobal15

#BILLIONSAWAIT

The Crowd Economy……

The Crowd Economy is eCommerce2001

The Crowd Economy is Social Media 2009

Trait #1 - Founding & Crisis Moments = Crowd Springboard

May,2016Coined Term

2009

2008

2007

2006

Trait #2 – Disruption and It’s Response

Remember These Hockey Stick Charts

2013

2025

Crowdfunding$5B

$96B

2014

2025

Sharing Economy $15B

$335B

Source: The World Bank, Crowd Companies, PwC

Trait #3 - Ridiculous Growth

2014

2019

P2PLending $9B

$580B

2014

2019

Microfinance

$5.7B

$14B

Source: Microfinance Outlook Report , Foundation Capital

Ridiculous Growth

MOOC Crowd Education 2015

2020

$1.5B

$14B

2014

2019

Crowd Labour

$2.7B

$31B

Source: Staffing Industry Analysts, Visiongain, Sandler Research

Ridiculous Growth

The Time for Crowding is Now!

THE ECONOMYnow demands it

THE CROWDnow accepts it

THE TECHNOLOGYnow facilitates it

No Matter Who You Are…

808 Million Participants 69 Million Freelancers/Campaigners

971 Million Pieces of Work

Visitors/Users/Buyers/Donors Members/Sellers/Freelancers/Editors Projects/Gigs/Pieces/Transactions/Pages (present/annual if available)

Uber Sharing Economy 8,000,000 160,000 140,000,000

Airbnb Sharing Economy 10,000,000 1,000,000 40,000,000

Wikipedia Mass Collaboration 500,000,000 132000 36,000,000

Linux Mass Collbaoration 73,000,000 12,000 1,310,350

Kickstarter Non Equity Crowdfunding 7,030,000 177,600 70,257

Indiegogo Non-Equity Crowdfunding 6,000,000 275,000 44,000

Kiva Crowd Causes 2,116,000 870,389 1,613,000

Donors Choose Crowd Causes 1,701,000 14,445,000 571,848

Freelancer.com Crowd Labour 2,000,000 15,209,000 1,600,000

Elance-Odesk Crowd Labour 2000000 8000000 2,700,000

99 Designs Crowd Creativity 150,171 950,000 21,023,940

Eyeka Crowd Creativity 769 311,582 88,233

Ebay P2P Commerce 152,000,000 25,000,000 700,000,000

Etsy P2P Commerce 19,800,000 1,400,000 26,000,000

Prosper P2P Lending 20,000,000 93,000 93,000

Lending Club P2P Lending n/a 116,786 116,786

Quirky Customer Co-Creation 2,000,000 1,104,000 200,000

Custom Made Customer Co-Creation 3,000,000 20,000 170,000

808,797,940 69,276,357 971,601,414

41% 59%

26% 74%

13% 87%

Women are In!

Big Business and Small Business are In!

Source: PwC

Left and Right are Kinda In!

Source: Crowd Companies

There is no Ford Model T to the Crowd Economy

Take the 2015 survey #CSWGlobal15 @seanmoffitt

Six messages for 2015 …

1. 2015/16: The Year We All Jumped Onboard

2. Norms are Forming, Crowd Kids have turned into Teenagers

3. B2B and B2C has turned into H2H

Six messages for 2015 …

4. It’s a Global Movement,This is not just Silicon Valley

5. Crowd is sustainable - driven by the winds of 5 Meta Trends

6. Disrupting Everything We Do

Source: The 2015 Global Crowd Economy Survey

Compared to historical 70% annual Crowd Economy growth rates…


@seanmoffitt @crowdweek

EQUITY


“Solves Problems from

Non-Traditional Sources”

“Funds New

Ideas/Business”

“Drives Awareness/Bu

zz/Publicity Value”

The 2015 Podium – Top Crowdsourcing Objectives


Top Success Factors for a Successful Crowd Initiative

Source: The 2015 Global Crowdsourcing Pulsecheck

1.Crowdworthy Idea – Flint and Tinder

2. Triggers, Incentives and Motivations– The Coolest Cooler

3. Great Product, Step Change Innovation

4. The Tools Used and Platforms Built

@seanmoffitt @wikibrands#cswvenice

Source: Randstad, The New Trade

The Importance of the Human Cloud and Storytelling to Crowdsourcing

#H2H Crowdsourcing Activities #H2H Storytelling

What is driving our Global optimism?

Unlike nearly every other wave of technology-induced change, it actually

needs the world

Source: Traits of the Crowd Economy, The 2015 Global Crowd Economy Survey

Strongly Agree/Agree

Strongly Disagree/Disagree

Is Silicon Valley Losing It’s Grip?


Crowdsourcing Horizon 2020

UK Government Invests in Crowdcube

Top Platforms – 99 Designs, Pozible,Freelancer.com, DesignCrowd

eGov 2015 Masterplan and home of CSW Global

Citizen’s Initiative Act

Direct Democracy and e-Residencies

Malaysia Equity Crowdfunding

Top Legalized Equity Crowd-Funding - Pledge.me/Snowball

Decade-long presence of platforms and media coverage

Crowd Economy: Fueled by a nearly perfect storm of 5 Trends

Crowd Change Factor #1 -The rise of entrepreneurial startup culture

60% of millennials consider themselves entrepreneurs


Crowd Change Factor #2 – Growth of free

agents/freelancing/independent contractingSource: The 2015 Global Crowd Economy Survey, Your Ecore

Crowd Change Factor #3- Expanded global marketplaces and

scaleSource: The 2015 Global Crowd Economy Survey

2015 Tension between 4th & 5th Trend Authenticity/Transparency

vs. Monetization


Crowds are Disrupting Everything We Do

Biggest Industries Disrupted by the Crowd

(next 3 years)

* Health Care 7th, Manufacturing 8th, Education 9th, Public Service/Govt. 10th

@seanmoffitt @crowdweek Source: The 2015 Global Crowd Economy Survey

Source: Efma-Infosys

Crowdsourcing : Storm Clouds Ahead?

#1 Regulatory Prevents Expansion (+2 ranks vs. 2014)

#2 Poor Implementation/Performance (+4 vs. ‘14)

#3 Weaker Participant Commitment (-1 vs. 2014)

#4 Opportunity for Scandal/Fraud (same rank as 2014)

#5 Bad Post-Campaign Communication (+3 vs.14)


15 Predictions for the Crowd Economy 2015


-1 pts.vs. 2014

+6 pts.vs. 2014


+21 pts.vs. 2014




+20 pts.vs. 2014

“Crowdsourcing is nearing its height in popularity and as a term, will be

considered a fad in the future.”

85% disagree (+8 pts. Vs. 2014)


“We will need to find significantly better ways to manage and curate crowdsourcing and crowdfunding

efforts than we do now.”

91% strongly believe/believe (+7 pts. vs, 2014)


Other Predictions?8. Startups and Angels will

increasingly use crowdfunding as their Series A validation

9. Governments will slowly loosen the reigns on crowd economy, ceding to public demand, regulations loosen

plus choosing policy/investment @seanmoffitt @crowdweek

Other 2015 Crowd Predictions:10.Peer-to-Peer Lending will

skyrocket causing banks/financial service to cozy up to key players


Other 2015 Crowd Predictions:

11. Crowdsourcing participants will demand a more equitable relationship with backers


Other 2015 Crowd Predictions:

12. More effective audits/service industries will pop up to ensure

crowdfunders can execute & deliver their projects

13.Incumbent crowd- and sharing economy players will extend into

non-traditional industries @seanmoffitt @crowdweek

14. Real time, contextual, video/mobile crowdsourcing


15. Crowd and sharing economy APIs


Inductees 2014

2015


Recap - Six messages for 2015 …

1. 2015: The Year We All Jumped Onboard

2. Norms are Forming

3. B2B and B2C has turned into H2H

4. It’s a Global Movement,this is not just Silicon Valley

5. Driven by the winds of 5 Meta Trends

6. Disrupting Everything We Do

A Who’s Who Directory ofthe Global Crowd Economy Players