The emergence of companies like Getaround, Airbnb and even Yelp are examples of ways that we as consumers are using technology to get more comfortable doing everything from sharing recommendations to letting someone rent our car for a few hours. While the technology is the enabler for these movements, social reputation plays a key role in their adoption.
I am biased, but believe that TaskRabbit, a Lightspeed portfolio company, is perhaps one of the best examples social reputation in action and founder Leah Busque has a great article in Huffington Post on the topic that went live today.
Another fun thing to ponder is how social reputation systems might replace existing systems. A great example of a replacement that’s already rapidly occurring is Yelp. Sure, traditional restaurant and business ratings and reviews still exist, but when’s the last time you actually picked a local restaurant or service based on anything other than online consumer reviews? If Yelp’s social reputation system can edge out expert reviews, imagine what else can be replaced. Imagine, for example, what happens if your online social reputation could replace your traditional resume. A recent survey revealed that 91% of polled HR pros use social networks to screen prospective employees already. At what point does the trust trail you’re creating online eliminate the need for a CV? Here’s another interesting thought: What if you could leverage your social reputation for those things that traditional credit scores are used for? Things like getting a credit card, buying a home, or renting a car at the airport? Some may argue that a long and robust history of great transactional behavior online is a much better indicator of future behavior than a few late payments to the cable company. -Leah Busque
What do you think the future of social reputation holds for companies?