GIG ECONOMY:

CHARACTERISTICS, CRITICISMS,
CONTRIBUTION

PRESENTED BY:
HASAN SHAMSUDDOHA
ROLL NO: 22230331111
THE GI
G
GIG DEFI N I
T IO N:
ECONOM labor
The gig economy is a
market made

Y
up of freelance or
part-time jobs as
opposed to full-time,
fixed contracts.
CHARACTERISTIC
S

Online Users work A rate is The payment

platforms whenever paid for a is
connect they want specific task intermediated
workers and by the
customers platforms
WHO CAN BENEFIT
FROM IT?CONSUMERS
The gig economy is democratising the access to many types
of services, making them more affordable and highly efficient.

WORKERS
Workers see the platforms as alternatives to generate income
at convenient and flexible dynamics.

ENTREPRENEURS
This formula is generating significant benefits for
entrepreneurs from different industries.
Did you know? Uber became the fastest-growing startup in all
history, and today it is already higher valued than Ford or
General Motors.
 THE GIG VS THE SHARING
ECONOMY ECONOMY

▸ Online platforms where work can ▸ Systems that facilitate the sharing
be transacted of underused assets

‣ Examples: ‣ Examples:
‣ Drivers can connect to Uber to ‣ Blablacar connects travellers with
offer rides drivers with empty
‣ People with specific skills can connect seats connects people looking for
‣ Airbnb
to Fiverr to offer any service in their accommodation with those with
area of knowledge spare rooms or underused
properties
THE UPSIDE OF THE GIG
ECONOMY
✓ FLEXIBILITY AND FREEDOM
The gig economy allows workers to have their own schedules, work from
anywhere and pick only projects of their interest.

✓ MOBILITY
By spending less time with displacements, people have more time to focus in
activities that really matter, relieving the traffic and polluting less.

✓GLOBAL PRODUCTIVITY
By putting the right people in the right place, productivity increases along with
job satisfaction.

✓MINORITIES OVERREPRES ENTED

Studies have shown that minorities tend to be overrepresented in the gig economy.
In addition, some issues at work, previously limited by physical barriers, tend to be
solved in the new economy, facilitating the access of those with special needs.
THE DOWNSIDE OF THE GIG
ECONOMY
Workers rely on the platforms for work, but platforms can take extraordinary measures without
consent.
their

✓WHO
✓ IS RESPONSIBLE?
ALMIGHTY COMPANIES
In the case of negative experiences, companies tend to avoid responsibility alleging that they are
simply intermediators between parties.

✓ LACK OF TRANSPARENCY
The lack of transparency is not only felt by consumers, but also by workers that are not aware of
certain algorithmic decisions.

✓INCUMBENT´S LACK OF COMPETITIVENES S

In certain industries, specific regulations are necessary, and if the new entrants are not subject
to equivalent regulations, the competition becomes unfair.

✓INDEPENDENT CONTRACTORS OR “EMPLOYEES ”?

Some workers are working full time through the platforms, but their classification as independent
contractors would be depriving them of protections guaranteed by law, such as the minimum
wage.
 THE GIG ECONOMY AND THE FUTURE OF WORK

GIG ECONOMY COMPANIES TEND TO

FOLLOW THE SAME PATTERN.
✓ Their main asset ✓ They match ✓ The platforms ✓ INFORMATION is
is the CONTINGENT receives a FEE being
SOFTWARE WORKERS with relative to the generated and
INTERFACE those looking for task kept
a specific
service
>1
of the
2/3
is what Uber trillion per

$1.3
year

%
working-age represents in
population the Gig is what the
participates Economy, inject in the
gig economy
in the gig being global
can economy
economy considered a as of 2025,
today “quintessential” according to
employer for McKinsey and
gig work Company
SAN FRANCISCO, UNITED
STATES
2012. 2014.
Annual earnings in the taxi Uber´s annual
industry BEFORE Uber: earnings in the city:

$120 million
$500
 Workers current
expectations
towards
THE GIG workplace:
ECONOMY
✓Freedom
✓Flexibility
✓Autonomy
✓ Purpose