The Gig Is Up

Thanks to Monarch for partnering with me! Start your free trial and get 50% off your first year of total money clarity using my link https://monarchmoney.yt.link/oeon5HD or code hmwu50. ---- Sign up for our FREE newsletter! - https://www.compoundeddaily.com/ Books we recommend - https://www.howmoneyworkslibrary.com/ ----- My Other Channel: @HowMoneyWorks @HowBusinessWorked Edited By: Svibe Multimedia Studio Music Courtesy of: Epidemic Sound Select Footage Courtesy of: Getty Images 📩 Business Inquiries ➡️ [email protected] Sign up for our newsletter https://compoundeddaily.com 👈 All materials in these videos are for educational purposes only and fall within the guidelines of fair use. No copyright infringement intended. This video does not provide investment or financial advice of any kind. #career #finance #money ----- Over the last two generations we’ve seen work culture change from the expectation of spending an entire career at one company, to the average GenZ person expecting to have 18 jobs across 6 different career paths before retirement (if they even get that lucky). This trend is also stretching the definition of what we consider a job in the first place as gig work, side hustles, freelancing and “forced entrepreneurship" are becoming increasingly common amongst people who would have otherwise filled regular 9-5 jobs just a decade earlier. In the process this has been sold to us as liberating flexibility “tearing down the rigidities and formalities that went with the set 40 hour week” and in the interest of fairness, a lot of this is true. The mandate to be in an office between two set times a day has undeniably resulted in millions of wasted manhours every year, that could have been better spent if work only needed to be done when there was work to do. But the way we are fixing this has… not been ideal. The rigidity of the 9-5 may have boxed us in, but it also offered a lot of people a level of stability that was hard fought for just outside of living memory. It probably won’t come as a shock to you that the real motivation behind making everybody their own boss, was not really so that they could set their own schedule, and in fact a look at the data would suggest that for a lot of people it has actually done the opposite. But understanding why how this happened will also shine a light on how we ended up getting the worst of both worlds all while undermining the numbers we run our economy off of… ----- Timestamps: 00:00 Intro 02:07 The Gig Economy is FULL 15:32 Don't sell your time for money... 27:06 Lies About Side Hustles and Multiple Streams of Income 35:23 The Overdue Collapse of the 9-5 45:49 Poor People Are Starting Lots of Businesses 55:26 Just Work Six Days a Week!