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01TH October 2014

500 Start Ups - Trust Cloud - Uncategorized

Trust and Safety in the Sharing Economy: The Lillipad

Not the first time? Maksym and Denys Pashanin

LilliPad much? Maksym & Denys Pashanin

Lots has been written on Trust and Safety in the sharing economy, but what’s that mean?

Industry icon (do we have those yet?) AirBnB talks about it incessantly. And they have been able to scale based on their in-house silo of data on those issues. I’m sure it’s awesome, and awesome are their engineers.

But the recent event with the scammer from Kick Starter moving in and squatting at AirBnB got me thinking: can a growing platform ever make Trust Safety and Quality a Priority One? Pretty tough. Gotta grow. We’ve been talking to a lot of them (platforms) in the past 90 days, and if you’re working that in a silo, where’s the blacklist to prevent lillypadding from other platforms? Safety is all about the likelihood of getting mugged or killed while in a transaction. Background, identity and transaction data go to inform the likelihood of that ever happening. And if the standard is Craigslist, then the sharing economy has cleared that bar. And Trust can be inferred from transaction data, and perhaps some social.

But as sharing has edges ever so slightly into the mainstream, the bad guys are moving in, so sifting through data to identify yellow flags is key; as the old school data guys day, past experience is the best predictor of future behavior.

So, until the industry begins to find a way to collaborate on data- by themsleves or through a third party, their silos of trust and safety will be exposed to cross-over risk. Just sayin’.

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