"name is Balaji sure Boston I'm a general partner at Anderson Horowitz and today we have with us Airbnb digital ocean and local motion to talk about the end of ownership and so"

"talk about the end of ownership and so just to jump right in you know I'm gonna basically throw out some questions we will have each of our panelists kind of you know respond and then at the end if we..."

"great analogy for this is actually the music industry if you rewind about 15 years ago the way to consume and to buy and purchase music was to physically own an asset of that piece of music and of cou..."

"we are one of the few companies that actually provides that raw server infrastructure that powers the Internet and I'm actually proud to say that in the majority of the servers that we use we don't ow..."

"know one way also thinking about sort of the end of ownership concept is it's a consequence of software aiding the world in a sense that you know software is about for example it used to be manufactur..."

"so what we see an Airbnb is a platform where you just put the pieces out there and your community comes see with its creativity of well sure I have a bedroom but there's actually four thousand boats o..."

"underneath you're relying on a larger partner who can actually excel at that you're able to switch the driver rather than it being the enterprise that's going on in procuring those resources the focus..."

"basically been spent so what we find really interesting for the future fleet is taking that fixed cost and saying ok how can we turn this you know cost Center on potentially into a profit Center so if..."

"it actually takes a lot of work like josa to to really understand the users needs and I think that's something that we really are able to focus on more so as a result of abstract in a way the things t..."

"has kind of become very distributed because of there hasn't been a great deal of data flowing back to the managers so they really have no intel on what's happening on the ground in real time so being ..."

"see star ratings in line so you know how do you think about that Joe with the context of Airbnb um well I think that was a big learning first actually was in the early days like one of the biggest blo..."

"module ocean you you don't have the same kind of problem since you don't have a untrust semi trusted environment where you're a platform and you're mediating transactions to houses that you haven't pe..."

"to get started they're much more likely to try out a number of different solutions for their problem and then ultimately land on one of the ultimate expression of that community is if the user finally..."

"experimental and kind of in that spirit I remember like my dad growing up always wanna get a vacation home that the family could go do and it's like kind of in 2014 he doesn't need a vacation home any..."

"have a true son that I want I want Airbnb or some hotel to actually offer suits so you don't have to pack right so this way you could just fly over there and not pack pick up the suit that'd be an ama..."

"competitive advantage or perhaps not even an actual advantage but a way of doing business and one of the biggest trends that I think will begin to emerge over the next decade is as enterprises become ..."

"I'm not sure exactly which industry but I think we're seeing this across the board is that as technology becomes more prevalent you're able to really change the business model and it's important to yo..."

"sit around for the majority of the year forklifts stuff like that yeah and again it's the same problem there's absolutely no data flow and how these things are being used and no ability to limit them ..."

"so on and you know with MOOCs and with Stack Overflow and github and all this online help you can start turning that more and more into on-demand rather than this enormous upfront fixed costs and lear..."

"it just showed the great lengths that people will go to for education if they have access to it yeah absolutely so then thoughts on implications and yeah I'm Joe I agree by the way if you have thought..."

"to continue that growth John what do you think implications of the space for people in the room yeah I agree I mean I think it's it's very valuable to have all these in my case all these mobile sensor..."

"I would say you know my gloss on this in terms of implications for people in the room is any fixed call that you have think about how you can transform it into a variable cost any large upfront commit..."

"questions maybe you can do QA or something like that hey so I guess a question for all of you whoever's encountered this the most so as you've kind of developed the sharing ecosystem somebody owns the..."

"absolutely I think there's a whole kind of second supportive economy that's supporting a lot of the businesses that we've started kind of like an analogy we work very closely with Jeff Gordon and it t..."

"I'd almost take the exact opposite approach right and when we look for insurance it feels like we're dealing with behemoths that have operated the same way for 50 years and so I think that's like an i..."

"is one of those kind of in my opinion pain of ownership so if you look at the hundred and thirty million families in this country that owned more than two cars every single one of those fleet managers..."

"I would I would also maybe add you know to me slightly generalize it so insurance is kind of about dealing with rare error modes and the more samples you have the more you can kind of deal then to som..."

"of sometimes trading sometimes sending meals back and forth but basically sending packets back and forth you know what we're doing is we're taking that cloud infrastructure and bring into the physical..."

"Francisco yes interesting we've actually seen a lot of pitches for companies that are abstracting out that you know reputation from Airbnb lyft TaskRabbit etc into kind of like a new report card you k..."

"so do you see that as an emerging data service that that you guys will will help stimulate people to convert to Airbnb properties where they have demand in their area I do I kind of see it like the th..."