People Make 15% More Working in the Collaborative Economy, Says Chase

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Chase reports that Americans earn $533 extra each month from “sharing economy” work
JP Morgan Chase reports that working for Collaborative Economy companies boosts income up to 15%, averaging from $314 extra each month when renting assets on Airbnb or Ebay to $533 extra each month by performing tasks on platforms like Uber and TaskRabbit. The bank tracked anonymized current accounts of 260K people who earned money on at least one of 30 Collaborative Economy platforms between October 2012 and September 2015. Chase estimates that during the study period 10.3M people made money from the sharing economy, a 47-fold increase from three years prior. Read more about the study at Telegraph UK.

Triscuit “flash funds” 55 maker projects on Indiegogo, totaling $250K
Triscuit teamed up with Indiegogo in March to flash fund 55 artisanal food makers on the crowdfunding platform. Businesses funded by Triscuit ranged from small farms to microbrewers to food trucks, across the United States and Canada. Triscuit supports projects big and small to give makers the opportunity to bring their simple ideas into fruition. Celebrity chef Giada De Laurentiis partnered with Triscuit to announce the news. Get additional details from PR Newswire or check out the projects funded on Indiegogo.

White House: Make <$20/hour? There’s an 83% chance you’ll lose your job to a robot
According to President Obama’s February economic report to Congress, robot automation of jobs paying less than $20 is imminent––a prediction that puts 62% of American jobs at risk. The finding comes from a critical study conducted this year by the White House’s Council of Economic Advisers which examined the chances of automation threatening people’s jobs, based on their hourly wage. Results showed a 0.83 median probability of automation replacing the lowest-paid workers. To help younger job seekers with skills development (and avoiding robot overtaking), the Obama Administration launched the TechHire initiative which focuses on building expertise in IT fields, including software development, network administration, and cyber security. Find out more about the study at Tech Insider.


We want to hear from you! What are the market impacts are of this week’s news stories? Email Catalyst Companies™ Founder Jeremiah Owyang directly to share your thoughts.


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