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Daily CX updates for the Oracle EMEA CX partner community

New Ways To Embrace The Power Of The Crowd

Richard Lefebvre
CX Partners programs Director

By Nikki Goth Itoi

When Apple announced its new smartwatch this fall, it may well have
stolen all the headlines. But this deep-pocketed giant was by no means
first to market with a device of this kind. Pebble, a start-up that in
2011 raised a then-record $10.26 million on Kickstarter, was first to
market in 2013, a year ahead of Apple. In fact, Pebble was on its second
smartwatch, Pebble Steel, when Apple rolled out its product. This—a
company seeded by a large number of small investors outracing a company
with a market cap of more than $650 billion—is the power of the crowd.

New consumer peer-to-peer businesses are using digital technology to
turn one industry after another upside down. It’s happening to all sorts
of goods—from cars to clothing—as well as food, services,
transportation, physical space, and money. And there’s no limit to how
far the crowd will go. The astounding growth of Airbnb, Uber, and
Bitcoin spells radical disruption for hotels, taxis, finance, and many
other industries that have yet to come face-to-face with the sharing
economy.

People are exchanging goods. They are making their own
stuff—and selling it directly or through pop-up stores. And we are
seeing new rental models too,” said Jeremiah Owyang, former industry
analyst and founder of Crowd Companies, an association of more than 40
Fortune 500 corporations. “What role do corporations play if people are
getting what they need from each other?”

Find answers to this question by reading the entire Forbes article here

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Comments ( 1 )
  • Randy Garcia Saturday, November 22, 2014

    Over $650 billion, that's impressive. Thanks for sharing this interesting article Nikki.


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