Sharing Economy is not a FAD

Rising startups are offering solutions to boost your income with huge earning potentials for the everyday user. Before we tap into that, however, it feels like you and I need some convincing on why you need to embrace it. 1) SALARIES ARE DECLINING The average gross salary for young adults (18-34y) in developed countries has gone from $36,000 to $33,000 since 1992. This trend is not going away as jobs are being increasingly outsourced to freelancers specially in emerging countries where the labour is cheaper; or they’re being automated by AI. ________________________________________ 2) 98% OF ALL NEW JOBS CREATED IN THE PAST SEVEN YEARS ARE FREELANCE OR PART-TIME Every time someone writes a line of code, a job is transformed. It’s the only path ahead for humans to evolve since our economy is already on a high level. For instance, when digital music started, music stores died. Before Netflix, Blockbuster would be employing hundreds of sales attendants everywhere. The ratio of revenue per employee in the fastest growing companies is also being constantly highlighted. Instagram was purchased by Facebook for $1 Billion with only 17 employees in 2012 whilst Sports Direct International (warehouse for sports products) had over 18,000 employees with almost the same market valuation! Humans will need to learn new skills fast and reinvent themselves into new jobs as it has happened before. ________________________________________ 3) THE FOUR HORSEMEN: AMAZON, APPLE, FACEBOOK & GOOGLE Their respective investments on artificial intelligence, virtual reality, self-driving cars and seamless user experience is something never seen before! Amazon is trialling a new store in Silicon Valley now (Amazon Go): when you walk in, your phone beeps. When you pick up your stuff and put it in your basket, your phone scans it. When you walk out of the store, your phone logs into your account in Amazon and effectively pays for your basket. Where will the cashiers go?