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More Gig Economy Workers Can Now Get Paid On Demand (bloomberg.com)
The gig economy is built on people offering their services on demand. Now more of them will have the option of getting paid just as quickly, reports Bloomberg. From the report: Care.com Inc., Instacart Inc., Postmates Inc. and several other marketplace providers will soon start giving workers the chance to cash out their earnings immediately, instead of waiting for the usual weekly deposit. That's because Stripe Inc., the payment processing service that underpins many of the on-demand companies, will introduce the feature to all customers for a fee. Quick cash is a big draw for workers. Stripe originally built a version of instant payouts at the request of Lyft Inc., the largest U.S. ride-hailing app behind Uber. Lyft began offering same-day pay to its drivers in December. Since then, Stripe has processed $500 million in instant payments for Lyft, and half of all driver payouts now go through that feature, the companies said. "It shows us how valuable this product is to drivers," said Lachy Groom, Stripe's cards lead.
What is the fee? Is this the online equivalent of paycheck cashing services or payday loans? Is there any regulation of this fee?
When I do "gig work" (which is really just working as a contractor), I give my client an invoice and they have a reasonable time to pay, or they can pay me on the spot with cash or check, or whatever. I don't see why I need to pay someone to get in the middle of that.
Gig economy is ultimately about absolving corporate responsibility and offloading traditional costs of employment on society while retaining control of the profits and money flow.
Historically, corporations were responsible for worker well-being. Work accidents, unemployment insurance, disability and illness, old age benefits were all part of the pay package. This was fought for and won by unions during early industrial age (aka the robber-baron age). Over past 30 years corporations fought hard to reverse these gains. First, pensions were absolved. Now, with this gig economy the rest of protections are being removed. We already have undischargable student dept.
At this rate, we will be back to debt slavery, compelled work, and company towns in another decade or so. Only this time it will be "gig economy" and "enabled entrepreneurship" or some other PR BS.
Gig a bit or Gig a byte
and is it 10^9 or 2^30
Doesn't this really just show how poorly the drivers are doing? Why would anyone pay a fee to get their money now instead of at the end of the week or month? Because they have absolutely no money! Also reinforces the poverty by taking the money from people who have no choice but to pay up.
Gig economy is ultimately about absolving corporate responsibility and offloading traditional costs of employment on society while retaining control of the profits and money flow. Historically, corporations were responsible for worker well-being. Work accidents, unemployment insurance, disability and illness, old age benefits were all part of the pay package. This was fought for and won by unions during early industrial age (aka the robber-baron age). Over past 30 years corporations fought hard to reverse these gains. First, pensions were absolved. Now, with this gig economy the rest of protections are being removed. We already have undischargable student dept. At this rate, we will be back to debt slavery, compelled work, and company towns in another decade or so. Only this time it will be "gig economy" and "enabled entrepreneurship" or some other PR BS.
Hit the nail on the head, and it practically disgusts me that those who find little or no value with traditional costs and benefits (mainly due to lack of experience, ignorance, or both) are practically championing the "gig economy".
It's like watching someone demand every online service for free, and then watch them bitch and moan about a lack of privacy, failing to understand that they sold their privacy soul in order to avoid any material cost.
TL; DR - Ignorance always comes at a price.
Is it just me or are we moving towards the movie "In Time"? Now we get paid daily for our daily bread ... er time. Just a few advances with regards to ageing and we'll be all set.
https://en.wikipedia.org/wiki/...
Silence is a state of mime.
If anyone wants to see how well those gig economy workers are doing overall, here's a perfect example. Admittedly it's an optional service, but the fact that they can offer someone a fee-based service to access their pay immediately doesn't paint the picture of happy carefree workers.
Check cashing places and payday loan companies are other examples of companies making money off other peoples' bad situations. If your credit sucks so badly that you can't open a bank account, helpful businesses like this will happily cash that check for you...for a price. Low-wage employers are also doing stuff like putting employee pay on a debit card loaded with extra fees to access the funds. Most of the big retailers like supermarkets, Walmart, etc. don't write paper checks to employees anymore, and present this as the only option if you can't get a checking account. Even food stamp and welfare recipients, the people who are most likely to not be able to make good financial decisions, are having their benefits paid out electronically.
I think the gig economy cheerleaders will come around to championing stable employment when traditional employers figure out a way to treat their entire workforce like this.
It's not just that the protections are being removed - so are the capital costs and the recurring costs for consumables (tires, fuel, etc), as well as "plant maintenance," insurance, etc. Unlike regular contractors, you can't negotiate price, you can't control the schedule for when a task has to be completed by putting more or fewer resources into it, etc. Uber drivers are not contractors, and the Uber gig economy is a lie.
"Transparent" is a shit show that trades on every stereotype going. A man in drag is NOT a transsexual.
You can't replace a driver and their car working locally with one working in Bangalore. If the only way to avoid a global race to the bottom is trade tariffs, bring them on.
"Transparent" is a shit show that trades on every stereotype going. A man in drag is NOT a transsexual.
That will be replaced by driverless cars. But assuming you gave a better example, yes, there are some jobs that can't be easily replaced by some guy in Bangalore, but many jobs can be replaced. And who's to say he'll stay in Bangalore. He'll come here on a H1-B.
Centuries ago, "free" laborors (not slaves or similarly "bound") were paid daily.
Even today, street-corner "day laborers" who aren't working through an agency typically get paid daily.
Most real-world independent contractors negotiate their own pay schedules with their clients. Just go to Craigslist's "gigs" or similar areas and you will see what I mean.
The difference with the modern "app-driven gig economy" is that 1) there are middle-men, and 2) enough people don't mind waiting to be paid that middle-men who delay payments are still very successful.
Knowledge is how to play a game, intelligence is how to win, wisdom is knowing what game to play.
You can't replace a driver and their car working locally with one working in Bangalore.
You might be surprised. Many aircraft are flown by wire, and surgeons have performed remote surgery through an Internet connection. Likewise, if it turns out that engineers cannot make a completely autonomous taxi safe enough for city driving, having someone in Bangalore take the digital wheel might end up being enough.
... the more fragile it becomes.
Hanjin - a major korean shipping corp recently gone bankrupt - has massive containerships standing at sea, not allowed to run into harbours because the harbour authorities are afraid they won't see their fees. As a result, companies relying on their shipments done with Hanjin are on the brink of bankruptcy, because they can't deliver. And on it goes down the foodchain.
This is what happens if you cut it too thin and expect dirt-cheap stuff and services everywhere, every time and all the time. Same with Uber, Lyft, MyHammer and now this. This sort of race for the bottom line will end up with deflation and eventually a lot of companies and individuals going out of business.
We suffer more in our imagination than in reality. - Seneca
This was fought for and won by unions during early industrial age
Odd that you bring that up since the main force behind Uber and Lyft is the artificial price of taxi service brought on by those same unions. People blame politicians for the regulations, but who do you think owns those politicians?
"option of getting paid just as quickly, "
"will introduce the feature to all customers for a fee"
Translation: option of getting paid less
But no one would EVER do tha... oh, right.
It's like watching someone demand every online service for free, and then watch them bitch and moan about a lack of privacy, failing to understand that they sold their privacy soul in order to avoid any material cost.
Or people demanding software and music be free then bitch and moan when the people who produced the items go after them for not paying for the product because of a failure to understand the material costs involved in producing the items.
We will bankrupt ourselves in the vain search for absolute security. -- Dwight D. Eisenhower
Don't forget that in some cities there are also strict government limits on how many taxis can operate.
What part of "People blame politicians for the regulations, but who do you think owns those politicians?" did you not understand?
It's like watching someone demand every online service for free, and then watch them bitch and moan about a lack of privacy, failing to understand that they sold their privacy soul in order to avoid any material cost. Or people demanding software and music be free then bitch and moan when the people who produced the items go after them for not paying for the product because of a failure to understand the material costs involved in producing the items.
For the small fish in the music pond, this is absolutely unfair. That said, it's a bit hard for Joe Consumer to grasp the concept of paying the artist as the music industry continues to churn out obnoxious millionaires that relish in demonstrating just how rich they are in the most narcissistic way possible.
Not saying you're wrong. Just pointing out why it's hard for some to grasp the concept of properly rewarding the artist.
Charging people money to get their money they earned?
This isn't an innovation, it's just a new style of advance loan, like ripoff payday loans and tax refund loans.
http://lkml.org/lkml/2005/8/20/95
It's almost as if graft, corruption, and regulatory capture are more the issue than the unions. Odd that the same thing happens in other arenas without unions. In the same vein, it's odd that government can be a force for the defense of personal rights and freedom, but corruption can turn it into a horribly oppressive force.
The answer to the issue of corrupt unions is to cleanse them of corruption, not to dissolve them so that workers are once again at a disadvantage in negotiations with management.
If you want a vision of the future, imagine a youtube comments section scrolling - forever.
Full time needs to move 32-30 hours a week with may even an X2 OT at the 60+ hour weeks.
Historically, corporations were responsible for worker well-being. Work accidents,...
By "historically" do you within the last 20 years? In the last 10000 years of humanity, this has really only been the case in the last few decades, and all it results in is dependency on your employer.
At this rate, we will be back to debt slavery, compelled work...
Or more opportunity, flexibility and freedom to change work. Depends if you're a glass half full or half empty person.
I really find it odd that you are defending corporate culture. The gig economy is simply providing services that allow you the choice to do more things. The service providers don't demand you show up at a certain time, work overtime, skip your holidays etc. This corporate system is the worst for control, profit stealing and greed.
Gig economy is ultimately about absolving corporate responsibility and offloading traditional costs of employment on society while retaining control of the profits and money flow.
Historically, corporations were responsible for worker well-being. Work accidents, unemployment insurance, disability and illness, old age benefits were all part of the pay package. This was fought for and won by unions during early industrial age (aka the robber-baron age). Over past 30 years corporations fought hard to reverse these gains. First, pensions were absolved. Now, with this gig economy the rest of protections are being removed. We already have undischargable student dept.
At this rate, we will be back to debt slavery, compelled work, and company towns in another decade or so. Only this time it will be "gig economy" and "enabled entrepreneurship" or some other PR BS.
One point: old age benefits are seriously problematic under the old system - ask anyone whose pension vanished in a puff of bankruptcy.
While I'll certainly agree with your basic point that the Gig economy is about employers weaseling out of their responsibilities, I'll also make the assertion that the employer should NOT be running any of these things themselves (having seen the bills my co-workers got when our employer stopped putting money into the 'self-insurance' pot). They should be PAYING for them, just not RUNNING them.
A thousand pounds of wood moving at 300 feet per minute. Don't get in the way.