What is a gig economy?

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.

Directed by Christoph Sarow, AIM Creative Studios.

This video made possible in collaboration with World Economic Forum

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Thank you so much to our patrons for your support! Without you this video would not be possible! Orlellys Torre, Corheu, Thomas Mee, Maryann H McCrory, Blas Borde, John Hellmann, Poompak Meephian, Chuck Wofford, Adam Pagan, Wes Winn, Conder Shou, ntiger, Noname, Hansan Hu, David D, Mac Hyney, Keith Ellison, robin valero walters, Lynne Truesdale, Gatsby Dkdc, Matthew Neal, Denis Chon, Julian Oberhofer, Monte Carroll, Eddy, Jay M, Constantino Victor Delgado, Andrea Galvagni, Andrew Tweddle, Laurel-Ann Rice, Fernando A. Endo, Helen Lee, pam morgan, sarim haq, Gerardo Castro, Michel-Ange Hortegat, Enes Kirimi, Amaury BISIAUX, ND, Samyogita Hardikar, Vanessa Graulich, Vandana Gunwani, Abdulmohsin Almadi, AJ Lyon, Geoffrey Bultitude, Mi Mi, Thomas Rothert, Brian Elieson, Oge O and Weronika Falkowska.

[neonsilver]

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.

[victor]

I'm not unemployed, I'm a freelancer with really really flexible hours 😌.

[the_luggage]

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.

[kayuchan]

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.

[ScytheNoire]

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.

[theshuriken]

the animation is beautiful! also it's probably a freelance artists work! good job!

[jamdc]

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

[tinkageorgewilliam]

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.

[abdoreda]

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.

[CreativeMindsAudio]

gig economy isn't freelancing, it is working for the app.

[michaelsanchez]

Being freelancing is not easy. It requires skill and build a good reputation as well as building trust to clients

[kimburns]

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! 🥂

[jaykirby]

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.

[Sergiorcj]

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.

[FinancialShinanigan]

If health insurance wasn't tied to traditional jobs, most of us would freelance

[midimusicforever]

Interesting to know where the "freelancing" term came from, I had never pondered on it before!

[ktorres]

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.

[strange_and_magnificent]

Wow, I've got some big decisions to make courtesy of this video. Thanks TED - Ed.

[dick]

Seeking happiness is such an abstract idea... you gotta seek balance and satisfaction

[md.johnpaul]

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