With the Internet expansion and coincidental high unemployment starting with the 2008 recession, companies began to spring up to connect personal assets into ways of making money.
The “sharing economy” or “gig economy” exploded as a major economic force, powered by the proliferation of digital platforms that connect people who need services with freelance workers who can provide them on demand for everything from rideshare and home rentals to delivery services. Companies like Uber and Airbnb are considered the quintessential examples of this phenomenon.
Finding Opportunities for Income in the Sharing Economy
The internet drives the gig economy. Knowing how to use the Internet to find opportunities is critical to your success. Knowing keyword for the sharing economy will help you locate opportunities on the Internet. Here are some of the categories of gigs and asset sharing:
• Vehicle or equipment renting
• Home sharing for vacation accommodations
• Ridesharing alternatives to taxis and busses
• Delivery services from store to consumers
• Ad-supported video sharing
• Sharing Economy
• Peer-to-Peer Redistribution Markets
• Social Commerce
• Crowd Funding
• Collaborative Consumption
Knowing the Risks of the Gig Economy
The gig economy, with its promise of flexibility and freedom, has undeniably reshaped the modern workplace. But beneath the allure of independent contracting and flexible schedules lie some significant drawbacks.
Income Instability:
• Fluctuating Earnings: Gig work often involves unpredictable income streams. Earnings can vary wildly from week to week, making it difficult to budget and plan for the future.
• Lack of Benefits: Gig workers typically lack access to employee benefits such as health insurance, paid leave, and retirement plans.
Job Insecurity:
• Platform Dependence: Gig workers are often at the mercy of the platforms they work for. Algorithms can change, demand can fluctuate, and platforms can deactivate accounts with little warning.
• Competition: The competitive nature of the gig economy can make it difficult to find consistent work and maintain a stable income.