Peak “Sharing” Economy
February 6th, 2017Via: Quartz:
We may have already reached peak “sharing” economy.
Average monthly earnings on “labor” platforms such as Uber, which use technology to match workers (like drivers) to people who need a service (like riders), peaked in June 2014, according to new data from the JPMorgan Chase Institute, the research arm of JPMorgan Chase. On “capital” platforms such as Airbnb, which help people rent out assets like a car or spare room, the share of US adults participating has declined from the previous year.
On both types of online platforms, wages are growing more slowly as is overall participation. And retention is awful: 52% of people working for labor platforms quit within a year, and 56% of those on capital platforms vacate in the first 12 months.
