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Whither work?

Thursday, 17 November, 2016

“It’s one of the dirty secrets of economics: technology progress does grow the economy and create wealth, but there is no economic law that says everyone will benefit.” — Erik Brynjolfsson

Who he? The Director of the MIT Initiative on the Digital Economy and author of the best-selling The Second Machine Age, is he. Brynjolfsson maintains that in the race against the machine, some are likely to win while many are likely to lose. It’s a view that’s gaining traction as pessimism about the role of technology in a globalized economy increases, but Stephen DeWitt is more optimistic.

He’s held senior positions at HP, Cisco and Symantec, but instead of retiring, he became the CEO at Work Market, a rapidly-growing platform that’s reformulating the worker-employer equation. Backed by New York VC Fred Wilson, Work Market helps connect workers with companies that need to get stuff done.

The concept isn’t new. The “gig economy” of Uber and TaskRabbit is familiar to many, but DeWitt believes that this “on demand economy” will include all kinds of work eventually. Millions of people are stuck in jobs that are unnecessary and inefficient, he argues, and points out that by 2030 there will be 3.2 billion skilled workers on earth, all connected to the internet. Will a company filled with full time workers be the ideal model then? Or might the model be an agile core of managers assigning work to a network of workers competing for projects based on their skills, reputations and their ability to deliver results? That could spell the end of unnecessary and inefficient jobs. Or it might lead to a dystopia. We are approaching the crossroads and we’ll have to turn left or right.

“If you want something new, you have to stop doing something old.” — Peter Drucker

The gig economy


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