July 25, 2019
“Gig” – when’s the last time you heard someone use that word? Or perhaps you used it yourself, recently. Admittedly, it is increasingly common for people these days to say they got themselves a ‘gig,’ and the chances are, you know someone who has one. But did you know the origin of the term goes back to the 1920s? Coined by jazz musicians of that era, the term gig was originally slang for a live musical performance – a contraction of the word ‘engagement.’
The ‘gig economy,’ however, is a relatively new term which was created to reflect the working habits and tendencies of what we know as the ‘millennial’ generation. The term refers to a flexible working culture where its members choose to work as freelancers or independent contractors and have more control over their schedule and working hours. Generation X and the Baby Boomers before them were of the traditional economy – they were used to a single finance stream and a full-time job. The new kind of workforce, however, spends a lot of time on their mobile device and prefers to have multiple sources of income – a significantly different situation from that of previous generations. It is clear that the gig economy is here to stay, and its growth trajectory so far has been impressive. Let’s consider the projected gross volume of the global gig economy:
It’s not just a fad – the gig economy currently generates $204 billion in gross volume across the world. Furthermore, according to research by Mastercard, the size of gig economy transactions in its online iteration alone is projected to grow by a 17% CAGR with a gross volume of ~$455 billion by 2023 due to factors such as evolving societal attitudes around P2P sharing and increasing digitization rates in developing countries.
So, a couple of questions arise here:
Remember ...
12-month access to 10,000+ insights, research reports, a database of 13,000+ FinTech companies, and a live global community.
instant access to reports and global community along with donation to COVID-19 fund.
12-month access to 10,000+ insights, research reports, a database of 13,000+ FinTech companies, and a live global community.
instant access to reports and global community
MEDICI offers data-driven, original, unique, and forward-thinking content to understand the “why” behind the “what”
10,000+ insights, 100+ research reports, and 1,000+ videos based on data, collected and processed by top-in-class researchers with over seven years of experience in the financial service industry.
We do not stop at the data; we analyze it and extrapolate actionable insights that shape and forecast market trends. All of our pieces are neutral, authentic, and unique – this means that you can’t read them anywhere else!
We do also care about design. It’s why our infographics are the most-used ones in company reports and the most shared ones on social media.
We have one of the largest databases with more than 13,000 company profiles listed across 60+ verticals! The database contains primary data collected in two ways:
Through our Global Listening Engine – a proprietary algorithm able to extrapolate and collect data across numerous sources
Directly from FinTechs – thanks to the onboarding flow through which companies can list themselves on the most used database for venture capital in the industry
You will be added to our private WhatsApp Channel with more than 200 FinTech leaders across the globe, where we engage in discussions around various financial services topics daily. After a few clicks, you’ll get to know the whole community, including the MEDICI team – you can ask questions, suggest topics, and get behind-the-scenes insights
MEDICI Inner Circle™ is the membership you need to freely access all MEDICI content, which includes insights, research reports, videos, startup knowledgebase, and the members-only community for live engagement.
We cover more than 60+ sub-segments in FinTech – but we do not stop there; we also cover topics beyond FinTech, such as InsurTech, RegTech, PropTech, WealthTech, BankTech, AgriTech, and the enabling technologies enabling innovation such as AI, Blockchain, etc.
By becoming a member, you will unlock all the content on our website. A free subscriber gets access to only 5% of what we publish on the web-site. Paid members also get preferred access to our live events, and exclusive access to the members-only community for live digital engagement.
Yes. Please write to us at innercircle@goMEDICI.com.
Yes. Please write to us at innercircle@goMEDICI.com.
We offer a 7-day free trial during which you can access all of our data, insights, and analyses. You can cancel the subscription any time before the end of the free trial period. However, we do not offer refunds.
Sign up to read the article