Venture capitalist Bill Gurley on Wednesday praised the social benefits of the work-when-you-want-to gig economy, which gained renewed popularity alongside the rise of ride-hailing platforms such as Uber.
The gig economy is now composed of nearly 60 million U.S. workers, just under 22% of whom are in transportation and utilities, according tofrom the Economic Policy Institute. Gurley, the general partner at venture capital firm Benchmark, said Uber has generated greater "flexibility" for those wanting a side hustle and has "created 3 million jobs around the world" within a short period of time.
"I don't think there has been precedent for that, for someone creating that much job growth that quickly," Gurley said in a "However, gig economy companies have been accused of exploiting workers and withholding benefits that typically come with traditional, full-time employment. Gurley responded by arguing that there's an "economic value that comes with freedom and flexibility," bringing income and allowing for workers to pursue other passions.
"You can't go to [work at] Starbucks Monday, Tuesday and then take four days off," said Gurley, whose firm invested in Uber in 2011. "You can't do that at McDonald's. You can't do that at Walmart."
Gurney evangelizes abuse of power by the rich to keep the poor desperate and break working-class solidarity
That’s wonderful. Can Gurley now explain the social benefits of paying people less than minimum wage?