Memories from the future - Part 1

Co-ownership

I published The Digitterian Tsunami: Web 3.0 and the Rise of the N.E.O Citizen in 2013, outlining 21 principles driving the evolution of the web. Now 10 years later I revisit my predictions to see how accurate they were.

The first ‘Digitterian’ principle we will review is Co-ownership.

Co-ownership encompasses the idea that individuals, communities, and businesses will come together to collectively own and benefit from assets, intellectual property, and resources. This post explores the thesis and provides evidence to support its accuracy based on insights from various industries and trends that have emerged since 2013.

Co-Ownership and the Sharing Economy: One of the significant developments since 2013 has been the rapid growth of the sharing economy. Platforms like Airbnb and Uber have revolutionized industries by allowing individuals to co-own and share their assets. Airbnb reported a 250% increase in co-hosting between 2016 and 2017, demonstrating a substantial rise in the number of people interested in co-owning properties. Similarly, the sharing economy is projected to grow from $14 billion in 2014 to a staggering $335 billion by 2025, according to PwC.

Collaboration and Open Source Initiatives: The rise of open-source software projects exemplifies the power of collaboration and co-ownership. Since 2013, open-source initiatives like Linux, Apache web server, and Python have gained significant traction. These projects enable developers worldwide to contribute, modify, and improve the source code, promoting a sense of shared ownership and collective innovation. Additionally, platforms like GitHub have emerged as collaborative spaces where developers can co-create and refine code, fostering a culture of collaboration and co-ownership.

Co-Working Spaces and Fractional Ownership: Co-working spaces have experienced remarkable growth since 2013, catering to a new breed of professionals seeking shared work environments. The number of co-working spaces worldwide has increased from 3,400 in 2013 to over 22,000 in 2019, as reported by Statista. This rise reflects a shift in how individuals view ownership, embracing the idea of sharing resources and infrastructure. Similarly, fractional ownership models have gained popularity, allowing multiple individuals to collectively own high-value assets such as private jets or yachts. The fractional ownership industry has seen an average annual growth rate of 16.6% since 2013, according to Colibri Aircraft.

The Evolution of Intellectual Property: The landscape of intellectual property (IP) has also undergone significant changes in line with the co-ownership trend. The emergence of Creative Commons licenses has provided creators with the ability to define the terms of sharing and collaboration, promoting co-ownership while retaining certain rights. Companies like IBM have made patents available to the industry, contributing to the collective progress and co-ownership of IP. These shifts highlight a more open and communal approach to IP, reflecting the changing dynamics of collaboration and co-ownership. IBM’s landmark acquisition of Red Hat for $34bn underscores the potential for value creation in open IP led companies.

In 2013, Toyota and Subaru announced that they would be jointly developing a sports car. The resulting vehicle, the Toyota 86 and Subaru BRZ, has been a critical and commercial success. By sharing the costs of development and production, Toyota and Subaru were able to create a vehicle that was both affordable and high-quality.

Elon Musk also announced in 2014 that Tesla would “not initiate patent lawsuits against anyone who, in good faith, wants to use our technology.” in Musk’s words. While skeptics propose that what Tesla really did was create a situation where it can use the patented technology of other automotive OEMs without having to enter into cross-license agreements the reality is the Musk became one of the world’s richest men by opening up Tesla’s IP to be used by others in combination with theirs.

Conclusion: The Digitterian Tsunami thesis of co-ownership in the digital age has been reinforced by the substantial growth and widespread adoption of collaborative trends since it was published in 2013. The sharing economy, open-source initiatives, co-working spaces, and fractional ownership models have all demonstrated the power and viability of co-ownership . As the world becomes more interconnected and collaborative, co-ownership is poised to shape industries, drive innovation, and foster a culture of shared ownership and benefit. Embracing this trend can unlock new possibilities for individuals, businesses, and communities in the digital era.