The Gig Economy Explained

Visual Capitalist  |

The so-called “gig economy” is a polarizing topic.

On one hand, companies such as Uber and Airbnb have helped to make significant improvements in the lives of consumers by using new technology to rethink old business models. Finding a ride or a place to stay has never been easier or more customized, and many workers love the ability to set their own schedule and be their own boss.

However, the detractors of the gig economy will say that it has helped to displace millions of real jobs with many small independent contracts. These contracts tend to provide no job security or benefits, leaving workers to fend for themselves. They believe that without tighter regulations, this ultimately makes the economy as a whole worse off.

Regardless of which is true, there is no doubt that the gig economy has been a boon to tech investors. Some of the biggest valuations today come from companies taking advantage of this model.

THE GIG ECONOMY EXPLAINED

Today’s infographic from SelfStorage.com breaks down the nuts and bolts of the gig economy.

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