What is a gig economy?
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- Опубліковано 28 сер 2024
- Explore the benefits and drawbacks of the gig economy, and find out the key factors of becoming a successful freelancer.
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A 2016 survey of freelancers in six countries found that those who freelance by choice- 70% of respondents- were happier than people in traditional jobs, specifically when it came to things like independence and flexibility in terms of where and when they work. So what does it take to be a successful freelancer? Explore the benefits and drawbacks of the gig economy.
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One thing that people are not factoring for is that because traditional employers are paying people so little that they cannot survive on just one job, many people are being forced to freelance on the side.
And they tell us this economic system works and isnt internally flawed…
Well, if companies can afford to pay their workers so little, doesn't that mean labor has become too cheap? And on the other side, doesn't that mean workers have incentives to leave their jobs and find better-paying ones?
I read this word from an sat passage
@@feynstein1004 the “free market” will constantly adjust (raise) prices in accordance to dollars in the money supply. When you have a free-for-all monetary system that allows executives to gobble up most of the profits rather than increasing wages you’ll chip at the working class more and more as each day passes.
@@feynstein1004 There's definitely incentive to advance, but advancing requires social and mental plasticity that some people just don't have, and a flexibility about moving that most people don't have.
What's more, with more and more households not having any savings to speak of, if they lose their regular income they're immediately in a desperate situation, and will take any job that just pays them enough to manage. This is how places like fast food restaurants, amazon and so on have a turnover rate of over 100% in a year, but still manage to staff their positions for the most part. In short, it's capitalising on desperation.
I'm not unemployed, I'm a freelancer with really really flexible hours 😌.
Lol
Cringe af 🤮🤮🤮
How much do you make, if you don't mind me asking!?
@@jesseguevara all the money
I'm not unemployed, I'm an actor just waiting to be discovered, can I give you a copy of my head shot?
I think you need to distinguish between 'freelancing and 'gig economy' much more. Proper freelancing is amazing, incredible, and the best way to work _if_ - and it's a huge 'if' - you're earning enough on average over the year, say. Gig economy is just working for an app but without usual employee benefits really.
Yes, but legally Uber and Lyft drivers are recognized as independent contractors/freelancers not traditional employees.
@@catdogmousecheese Well, it starts changing, at least in Europe, where some judges have eventually ruled out that these platforms only offered disguised employment and ordered the platforms to fulfill their legal responsibilities. Truth be told, Uber and such are basically rogue companies who made huge profits on politicians closing their eyes on their illegal activities.
@@catdogmousecheese Exactly, "...working for an app but without the usual employee benefits..."
Employee benefits, the exposure to show you skills and knowledge?
It's as you said Ted Ed, freelancing is definitely a good support net for quick money. It's safe for part timers, but maybe not in the long run.
It really depends on the job you are offering.
If you are a trained nurse with a focus on Dementia/ Alzheimer's then you would need to turn clients down because of having to much work already.
We should all be thinking about the long run though, unless you don't have plans to retire.
Freelancing has been corrupted by corporations as a way to get away from having to pay benefits, avoid unions, and pass on much of the costs of doing business to the employee.
It's become a scam, and just a bad deal for those doing the work.
Normally in freelancing you get to set your price, but with many of these services in the digital age, that one benefit has been taken away.
Couldn't a solution to that problem be freelancers forming their own co-op where all the workers are co-owners in the business?
It's only a scam for those who falls for the new, seemingly convenient services to 'freelance'
Like the comment above me says, traditional freelancing with forming your co-op should be the way to go.
These videos are art: the sound, music narration, animation, visuals, aesthetics, and the content. Each Ted Ed has the potential to create a memorable and powerful experience. Thanks Ted Ed for the inspiration, personally, there is some videos that I will never forget.
Absolutely! Each and every Ted Ed video amazes me, the creativity and commitment that go into them is so inspiring. I'm really grateful for the effort put into creating these videos, it really is amazing. ♥
The most difficult part is that one depends on others needing our skills/services, but when others charge less than oneself, the entire chain crumbles, I used to work as translator (Eng-Spa/Spa-Eng) with so many people charging so low rates, it is not as lucrative as it used to be 10 years ago
the animation is beautiful! also it's probably a freelance artists work! good job!
Thank you TED-Ed for this! I have been thinking about freelancing but actually not sure if it's a right fit for me. With this vid I realized that your qualities, character, and skills play a significant role of whether to dive in to freelancing or not. It also depends on where you are in your life now and if freelancing or working for companies fit your goals.
To more informative videos! Kudos, TED-Ed! 🥂
Do you have property because I know here in England it's really difficult get a mortgage if you're self employed. I really think it's important to get on that ladder as soon as possible so then you have an asset for later life. My dad only started freelancing way later on in his 40s and he made a killing but still had the experience to fall back onto and a half way paid of mortgage.
The video seems more of a propaganda piece than educational
@@BiomechanicalBrick Especially since it was made in partnership with the WEF
@@caydee.m "case closed", then.
I am a medical doctor. I left the traditional medical practice (mostly because it wasn't going to pay me an amount equivalent to the responsibility I'd have had). I am now a freelance medical editor. I live in Uganda and work for two freelancing companies: one in India and one in Australia. I love the flexibility of freelancing and I hope it works out for as long as it can. I have been a freelancer for 2 years now.
Hello! MD from Romania here.
Tips for finding a gig as a medical editor? Also, in your experience, can you do this part time?
@@elena-biancanancu5364 You can do it part-time. I was a part-time editor for 1.5 years before going full-time. You can join through companies like Enago, Edanz, Charlesworth author services, Cactus communications, etc.
Wow . I am from India . Can we get connected on LinkedIn?
@@Anushilansamiti80 Yes please. I use my name.
@@tinkageorgewilliam871 followed you . But can't send connection request
Do we have a choice
Lmaooo. Exactly.
Lol, true.
We are just sheeps attached to debt. The only thing that keeps us down is our inability to exploit others. This western Capitalism is dystopian af
@thank me later What-
@@caitlynn_756 me too...
I've been working in the gig-economy for four years and cannot wait to get out. I was good in the beginning, till everyone started to do my job. The market is over-saturated with novices who have no idea what they are doing-do not understand the true cost of being a driver-will eventually do more harm to senior citizens who think it is a viable method to supplement their incomes and hurts those of us who made being a driver our profession. Finished my degree last December, but cannot start my company due to crippling vehicle repair costs.
Lmao you sound incredibly bitter. If they’re novices surely you still have a market for yourself since you’re the professional? Oh wait they’re just as good as you and you’re mad they’re probably younger than you too and figured it out faster
not everyone can be freelancers otherwise nothing would ever get done and who ever had the lowest price would always win
@@CaptainFracture Wrong. I see all the customer complaints, they are doing this industry no favors.
@@aus-reviews8462 you're right, not everyone is cut out for this industry or has the nerves to handle going out on your own.
@@jaykirby3601 I think you missed my point, not everyone can be freelancers, we need construction, hospitality workers etc... you need to think on a global scale
This video started from medieval reference to a question something I had thinking for a long time.which was smooth.
animation was awesome & creative, THANKS FOR SUCH VIDEOS
A lot of freelancing platforms lack empathy and flexibility and freelancers with really great talent are outcompeted by people who are willing to take low ball offers. I hope the new platform Knowists can help solve these pain points.
Freelancing as an obligation is a continue fight to get more works and being able to not being evicted or dieing of hunger. It's terrible, if you are able to choose, then you are already better than most people.
Interesting to know where the "freelancing" term came from, I had never pondered on it before!
Seeking happiness is such an abstract idea... you gotta seek balance and satisfaction
Being freelancing is not easy. It requires skill and build a good reputation as well as building trust to clients
I'm a freelancer. It's hard when you start out and the market can be wild, but if you're self-motivated it's a good move.
Good luck.
the background music is so addicting 🎧💆♀️
whoever made this animation deserves a *RAISE!!!!*👏👏👏👏
The soundtrack is top notch
I wad laid off during the start of Covid lockdown and turn to food delivery services. I manage to earn way more than what i used to earn working at a company but in doing so i sacrifice my health. 1 week of being food delivery pays the same as working a month at my previous job.
I work from 8am to 10-11pm and paid little attention to my health. I barely rest since order comes in faster than the rider can deliver. I almost faint while driving even though I feel completely fine.
My parents ask me to stop and watch for my health first but i was to greedy. Thankfully i found a permanent job now and pay more attention to my health.
Please take care of your own self first.
gig economy isn't freelancing, it is working for the app.
If I want to be or not, the economic system is moving toward creating a revolutionary change. We need to understand this for our survival.
If health insurance wasn't tied to traditional jobs, most of us would freelance
thats for america
So is most of Europe freelancing?
Being Organized is necessary
Freelancing is good and etc, but it requires strong mentality (by my experience).
I am a 17 year old student and when i was downsized from my job as a waiter (basically cafe had no funds to support itself and other financial issues at it) in this year, i tried out freelancing. Unfortunately, i dont have that much of mental capabilities to handle it, it was mentally draining me.
Maybe its just a me issue, i dont even know.
One of the the things they talk about in some freelancing books is that you mentally have to be able to handle it. It’s unpredictable and so it can be difficult and stressful.
I hope you find your way 👍
@Yummy Spaghetti Noodles i mean, at the waiter job i was pretty much fine, handled it normally, probably even perfectly. Its just that at freelancing i was the one which judged myself too much in terms of talent and skills (via comparing to other people, which is a very bad habit), which lead into massive demotivation.
However, i am trying to improve myself and trying to get rid of that bad habit, so it wont happen again.
@Yummy Spaghetti Noodles At least in a regular job you just follow what your employer wants you to do. The guessing portion is not a problem, all you have to do is go on time and do your assigned tasks until the end of the shift ad nauseum. Unlike freelancing where you have to be on your toes to get the most out of a project...
Uncertainty is a big stressor. It is also way easier to find a goob job, if you have significant expertise.
@@aestroelmaestro4114 bro, you’re early in your career. Don’t judge yourself too hard in terms of skills and experience… it will come. Focus on being better and reaching higher every day and you will get to where you need to go.
Hey TED, the animation is so beautiful that I didn't listen to what he actually said and the background score makes me dance...A well-done video.
This time, not only the lesson's informative and the animation's beautiful, but also the soundtrack is really catchy too, made me swing my head while listening haha
after years and years of working odd, mundane jobs, only to witness how much they truly hindered my spirit, i’m finally converting to the freelance economy. unleashing my creative, wandering nature has been long overdue.
one thing that is missing in most developing countries due to their low exchange rates or inflated currency is that it provides good opportunities for freelancers to work in USD ($) and for clients to get their work done at low rates. So it's a win-win for both of them.
As a freelancer artist, the most challenging thing isn't showing off skills that I have, it's finding people who are willing to pay me for my service.
Some people do not value my work and think that I have no cost [which I have equipment costs and electricity bills to pay, etc]
I meant if you're practicing something for decades to do a specific thing, and you think that came easily then imagine yourself reading a book, something that's not entertaining sometimes cause even artist has to practice a lot of things they're not good at so they can be good at them. do that minimum of 3 hours a day for more than 2 decades. if you can do that then you can tell me how easy it was.
What's important is
1. Skill
2. Marketing [which some people call them exposure, the more you have the more money you can charge}
3. Self-discipline, you don't have anyone to tell you when or where to work so you have to work on your own schedule meaning you have to plan everything accordingly and have enough discipline to go through with it.
The First 5 years might be difficult but the first 2 years for me were... horrifying and discouraging.
There's one word that I kept speaking in my head. Either I do this or I die. at least I die by my own choice and I won't regret it.
You might have to talk to your family about that as well as you won't get enough income to pay for your living hood so you might have to live with them for the time being as well.
❤
I agree! I do card tricks for a living lol I perform at 7 restaurants 2 of which pay me to be there the other 5 don't 😢, but yea finding places to pay can be hard at timea
very relevant content, and a more awesome background music!
Awesome soundtrack!
Make more riddles
Turn the music down a little bit in the next videos.
Thank you for the good videos ted ed
i am and have been a freelance court reporter for 5 years and it works for us. the only con to freelance work for me is health insurance but the freedom of it works wonders as im always out with my children for sports etc. you have to have a hustlers mentality in order to make more than you need
jamican?
all of this is true: this field requires so much hidden work and independent spending. without the ability to set legitimate boundaries, especially working from home, freelance work can overtake every minute of your life. like all good gigs, there are drawbacks.
Better prepare your plans A, B, C, and D if you want to be a frrelancer
Wow, I've got some big decisions to make courtesy of this video. Thanks TED - Ed.
Great film! The soundtrack is amazing
"singularity" has already passed, in some sense
no matter for which you believe you're working for (corp or yourself)
at the top of the towers, are algorithms (especially AIs) than humans sitting
amazing visuals and sounds, TED! by the way
The music is a bop 🎶
Right when I was thinking about freelancing.
it's not easy, you have to be patient, you need to master the skill!!
What's this music in the beginning, it's so uplifting. Anyone got it's name?
Edit: it's in the description if anyone's wondering.
Very good! I appreciate the information!!
Also, the art on this episode 🤌🏼 Amazing! Good job to the artists and animators
amazing soundtrack!!
Beautifully explained, we loved it!👏
BEAUTIFUL animation
Ooooooooohhhhhhhh all of the World Economic Forum videos are incredible...
The theme is amaznig. The animation is impeccable!
That's some funky BGM u got there Ted Ed
Just to add more information, when you're a freelancer, you're essentially a self-employed individual who offers your skills or services to clients on a project basis. You work independently, often on multiple projects for different clients, and you're responsible for finding your own clients, managing your workload, and handling all aspects of your business. While the gig economy is a broader concept that includes freelancing but also extends to short-term, temporary, or part-time jobs, often facilitated by online platforms or apps. In the gig economy, workers typically perform tasks or "gigs" for various clients or companies, and they're often paid for each individual task completed.
Fun story: I got laid off during COVID. Started marketing freelancing. Got too many clients, now have a half-a-million dollar business. Wild how life turns out eh?
I can't wait to watch it, thank you so much for so inspiring videos ♥️ !
Did you guys really have to shill the World Economic Forum?
This satisfaction and optimism is typical of young people who only see the present and don't see themselves old, tired and ostracized by the market in the future.
Interview them again in three or four decades to see if they still are optimistic and satisfied.
In my country there are so many bikers doing delivery gigs for platforms that the streets are jammed with motorcycles. And the rates of accidents, death, injuries, permanent disabilities and also assaults and thefts are all soaring. Insurance companies refuse to insure such risky activities, so each biker is responsible for his own risks, whether he gets his bike stolen or if he gets injured or even dead by some accident. Since our health system is universal, every citizen has to pay for a part of this. Meanwhile the platform's profit rates are soaring.
You guys changed the thumbnail!( No complaints. Both are equally excellent)
Very informativ and beautiful illustrated video
>world economic forum
What websites are there where a network of researches give 5 categories of fair employment?
Maybe this video was developed by a Freelancer.It's simply amazing.
Beautiful animation👌💞
love your videos ted ed
What's the name of the ratings website that was mentioned at 4:18 ? I am looking forward to reading that!
this was a little too app focused... what about being a tradesperson? or photographer?
It's official: essential details about refunds
Nice video.
WTH, I just got an assignment about freelancing. What an amazing coincidence, but hey, I guess I found my source material >:)
For me, the first requirement of freelancing is having a house and a car fully paid off and covered by all possible types of insurance. The earnings may be small to non-existent at times, but at least I am sure about the roof over my head and general safety.
What does WEF need in Ted Ed?
Indeed, Freelancing is good for skilled and active person
Yes, this video is a sign.
I do not appreciate being advertised a video as sponsored by the World Economic Forum
Good point. Bit of an unnerving bias there.
There's a few things you can do to make things like Uber or Shipt a bit better, but it takes a little while to pay off. Namely, keep track of how much you drive both while working and not working, and then keep all the receipts you use for gas. The percentage of the miles you drive for work out of your total miles can be taken out of the money you spend on gas when you get your tax returns.
Friendly PSA:
Always take videos sponsored by the World Economic Forum with a grain of salt (and comments too - mine included).
I'm not saying you should dismiss them entirely, but try to scrutinize for underlying messages that might perchance be trying to convey or push an agenda that quite possibly might not be self-evident at first glance. Arrive at your own conclusions and don't let facts get blurred by assumptions.
Just doing my part to promote critical thinking, please don't misinterpret this message as condescension / haught.
As you were.
Gig economy is when you are paid by the job not the hours.
It offers more choice and flexibility for less security.
49 sec agooo. From the PH🇵🇭
Got my own business but I can't control the demand of my products; so far I haven't had big money issues but I envy the regular income that the steady jobs offers.
Very informative video. Well done. True facts. Don’t jump on it do your research. I am happy on my regular job. Freelancing not for me😅
Why is Ted working with WEF?! World Economic Forum is a big bad no no.
Based and I HATE THE ANTICHRIST pilled
I just done did see a ted or something ad on this video about a hotel, am i seeing things?
The bgm though
Total vibe
Thank You * * * * * * * * * *
gig jobs like uber are worse than a normal job, this is not freelancing it is merely giving the illusion of freelancing.
"... there's a network of researchers who publish ratings of platforms..."
Do you you have a link?
I recently developed a machine thay stores live Beehives on my farm here in Florida. The Bees wpuldnt keep up with supply n demand so I turn machine on and what it does is shake the Beehives like a Paint Can Shaker. I have a remote so I can see the honey bees from a distance get so Mad but doing this results in MORE HONEY then normal. I have it patented so dont try and steel my idea
thanks for the idea, i will steal it.
I’ve published my own books. Two so far.
I’ve wondered about leaving my job after publishing my third.
Don't do it (leaving your job)
Did they change the name of the video?
As someone who has freelanced, I wouldn't recommend it. To get a regular job, you only need to get lucky once. To freelance, you need to get lucky every time. It took me way too long to realize that.
I beg to differ. Once you do get a "regular job" there's plenty to be wary of, downsizing, sleazy business practices, social circles and so much more. It just depends on the individual, both come with their own risks
I love the gig economy
Everyone Shd at any point in time join a gig work or young startup to enrich their working experience.. helps you appreciate and decide your future career
Human behavior around work is changing. People for whom the status quo works evaluate the situation from the perspective of the past, the status quo. It may be that we are moving toward an entirely different paradigm in regard to how we coordinate human efforts to meet the needs of humanity. Individual profit may not factor into it to the extent that it traditionally has, and eventually not at all. If we don't make this shift very soon, the planet will become unlivable. It may be that humanity is naturally making this shift but we can't see it because we view the world through the lenses of mine/yours/theirs/profit/scarcity/insecurity/self-protection, etc. If there was no such thing as money I would still do the gig work I do now. That is a pleasant way to live.
Wow amazing animation 💖👍
Make more videos like the How To Time Management one. w/ interruption coalescing & prioritization
Our sincerest apologies, but a system error caused the transaction to be sent to an invalid email.
Multiple reason: healthcare, certified contracts, advertisements, big companies will never work with you
Its a bad idea
Problems with the structured employment system is that employees are underpaid, overworked while employers are massively overpaid (I would cap at $500k including any benefits from the business) and in certain cases unnecessary for the day to day tasks of businesses.
I’d reckon the minimum salary that the lowest position should offer is no less than $10k per month and no less than $50 an hour not including benefits or any contributions.
be careful calling rideshare apps as freelance companies, they try to market this way to get around labor laws