Independent work: choice, necessity, and the gig economy

The digital transformation of independent work is gaining momentum
Venture capital funding for on-demand platforms has skyrocketed in recent years, going 
from $57 million in 2010 to more than $4 billion in 2014.
54
 Research from Intuit projects 
that on-demand work will post more than 18 percent annual growth in the coming years, 
increasing the number of workers participating in on-demand platforms from 3.2 million 
to 7.6 million.
55
 Furthermore, one study estimates that the share of adults who have ever 
participated in the on-demand economy grew 47 times larger from 2012 to 2015.
56
54
  “The on-demand report,” CB Insights, available at www.cbinsights.com/research-on-demand-report. 
55
  “Intuit forecast: 7.6 million people in on-demand economy by 2020,” Intuit corporate press release, August 
13, 2015.
56
 
Paychecks, paydays, and the online platform economy: Big data on income volatility
, JPMorgan Chase 
Institute, February 2016.
Exhibit 21