Who Are America’s Independent Workers?
This shift in how and where and for whom, we work for has caused ripples in the very fabric of our society and corresponding changes to our very economic models. Some see this vast upheaval as being more important than the industrial revolution. For sure fortunes will be lost and made.
This new Creative Economy, values Intellectual Property creativity and entrepreneurship much more then old world assets. Welcome to the “Individual” Economy. “If the primary element of the old economy was the industrial unit, today the Industrial Age is giving way to the Individual Age, where it is the skills, talents, and labors of people that matter most.” Individual Age Economics -Andrei Cherny
The 2016 MBO Partners State of Independence research paints a richly detailed portrait of America’s 16.9 million full time Independent workers. They contribute over 6 percent of the total U.S. GDP or put another way – roughly $1.1 trillion dollars.
Now our economic policies have to start catching up “The notion that most of us will earn our living in the future through an employee/employer relationship is headed for the scrap heap of economic history.”- Dave Maney, “The Death of Jobs,” Forbes.com 2013. But as the twentieth century came to a close, the Industrial Age ended as well.
“Where most employees once worked in enormous enterprises that relied on rote tasks—from the autoworkers on the assembly lines to the garment workers sitting behind sewing machines—today’s Americans … Most Americans work with a computer and the Internet. They process data and solve problems.”
The Internet has given them a plethora of personal options and decision-making power on everything from travel arrangements to personal banking. Some have termed this the Information Age, but this fails to capture the defining feature of the modern economy. This is not just a passing fad it is a monumental shift from heavy industrialized manufacturing to nimble knowledge based flexible business elements. Smaller nimble company’s able to collaborate together and designed to transform as business needs dictate.
In this new economy, a designer in Copenhagen collaborates with an engineer in Boston under the supervision of a Florida product manager, all financed by a Silicon Valley VC, with the end goods being manufactured in Shenzhen, China for the world market.
This trend is further exacerbated by the mounting age of corporate independence – where individual solopreneurs are not moving from job to job, but rather moving from engagement to engagement for multiple corporate clients performing projects as independent contractors and entrepreneur
By providing entrepreneurs with the expertise, networks, and tools they need to make their ventures successful. This is where Startup-Miami ™ comes into play… think of us as a safe port during this storm of massive disruption in what was. Investing in the success of entrepreneurs, their companies, and the ecosystems supporting them is our primary business focus.
New Business Models
Imagine a connected world in which everything is connected and capable of communicating. The Internet of Everything (IoE) is expected to connect as many as 40 to 80 billion connected objects by 2020. Companies can begin capitalizing on the Internet of Everything (IoE), driving value, reducing inefficiencies, and enabling better decisions. Beyond knowing what you purchased, stores could monitor your behavior, your eye movements, just knowing what you glanced at… what you picked up and considered, and put back on the shelf. Perhaps dynamically changing pricing so that the looker becomes a buyer.
The big message is change is coming and will continue to accelerate –so prepare for the future of the quantified companies. This transformation will be so disruptive that it requires a complete rethinking of employee engagement, security, privacy, and technology adaption. We are looking for thought leaders in these fields to share research and best practices to help companies prepare for the quantification movement. Microsoft estimates that the Internet of Everything (IOE) will become a $1.6 trillion market by 2018? Read about this here.
Gartner states 85% of Fortune 500 organizations will be unable to exploit big data for competitive advantage. What information, if you had it, would change the way you run your business? Gartner estimates the market for wearable fitness and personal health devices is expected to hit $5 billion dollars by 2016?
Types of data connected in IOE is tires to toothbrushes, wellness data crowd sourced data. Traffic of Big Data will be a game changer for every business. Being able to sort through and give data that I need to see,… out of that 2 zettabytes of data produced. The question is what to do with it how to make it valuable algorithms need to be invented that can sort and soup and give us a little of the data since we don’t have the ability to understand all the data.
They ability to gather store analyze and interpret the data is now front and center in the minds of many in the C suite. Algorithms technologies and dashboards will need to be vented to allow managers to manage by exception. The goal here will be to be able to find the needle in the haystack.
What are C level executives saying about the IoE?
· 95% expect the company to be using the Internet of things in three years’ time
· 63% believe the companies slowly integrate the Internet of things will fall behind their competition
· 58% would like to see government doing more to promote development and adoption of the Internet of things