The gig economy is a system where people work as freelancers or take on side jobs for companies instead of having a regular full‑time position. Uber drivers are a great example of this. There are a few reasons why I think the gig economy is going to grow:
- High prices are making a side hustle of some sort essential if you want to enjoy things beyond what salaries allow.
- Companies like the structure because pay is based on performance rather than a set salary.
- Entertainment is shifting to live performances, gigs, as a primary form of earnings. Getting your music to stream is not enough to keep most musicians going without a concert tour.
- A trend now in social media, is to see a lot of affiliate marketing. Only the biggest of social media stars can make this a full-time living. For the vast majority affiliate marketing is nothing more than a gig economy.
- We are going to see a wave of AI trainers needed to train robots to do everyday skills. Work as a maid in a hotel? We’ll pay you to wear a GoPro for two weeks while you work. That video will train an AI that’s going to take your job less than a decade later.
Companies are afraid to hire full time staff. Money is better spent on technology than on training a human on a fixed salary. As a result, the gig economy is just going to get bigger and bigger.
