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Airbnb and Uber Are the Next Frontier in the Struggle Between Capital and Labor

By Sarah Grotta
March 1, 2016
in Analysts Coverage
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Much has been written about the gig economy, the sharing economy, freelancing, or other types of work situations that individuals consider. I have written on the implications here of managing payments to these workers and the mass pay solutions that have emerged to solve the unique issues that accompany these payment types. As reported in Quartz, Chase Institute has looked at how these types of payments vary between those who provide their labor to earn money and those who lease an asset such as their home or car:

“… there’s a big difference in the kind of extra money that people earn on platforms like Airbnb versus platforms like Uber. It illustrates the classic divide between capital and labor, now at play in America’s new digital economy.

A new study from the JPMorgan Chase Institute, a think tank under the bank, finds that people who rent out assets on “capital” platforms like Airbnb or car-sharing site Turo are bringing in supplemental income. That’s starkly different from people who sign up for “labor” platforms like Uber or TaskRabbit. They’re typically working to offset shortfalls in their monthly earnings.

Consideration of these types of earning can have implications for many in the financial services industry. For example, mortgage lenders may need to start considering not just payroll earnings when judging the viability of a borrower, but also look at supplemental sources as well.

Overview by Sarah Grotta, Director, Debit Advisory Service at Mercator Advisory Group

Read the full story here

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