How Much Are People Making from the Sharing Economy?
priceonomics.com
How Much Are People Making from the Sharing Economy?
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Re: How Much Are People Making from the Sharing Economy?
#2Their data comes from loan applications. Talk about selection bias ...
Re: How Much Are People Making from the Sharing Economy?
#3Their data comes from loan applications. Talk about selection bias ...
Not that I disagree with the more general point that a loan provider's data isn't necessarily the best, but in what way do you suggest there is selection bias here?
Re: How Much Are People Making from the Sharing Economy?
#4I usually enjoy priceonomics posts, but this analysis is disappointing. The sharing economy is a way of deploying labor and capital. So the operating question is, is it a good way of doing so on net?
In some sense the market is spoken in that many people are willing to sell in these marketplaces. However, an argument could be made that services like Uber actually exploit the hidden costs associated with selling through the service. How many Uber drivers have done a fully netted anlaysis of their cost basis when driving on the service, including capital cost and depreciation of the vehicle?
Rather than attempting to dig into the financial viability of these services for sellers, this article focuses on the most superficial metric: monthly revenue. $500/mo on average would be consistent with $50/hour fully netted earnings, which would be amazing, or even a negative income if true costs tend to exceed earnings.
Re: How Much Are People Making from the Sharing Economy?
#5Their data comes from loan applications. Talk about selection bias ...
Not that I disagree with the more general point that a loan provider's data isn't necessarily the best, but in what way do you suggest there is selection bias here?
My thinking is that the population of people who are applying for loans in any given month is going to be drastically different than the population who are not applying for loans in exactly the metric, personal finances, that Pricenomics wants to look at. Kudos on Pricenomics for being so upfront about their data, but I wouldn't have titled it "How Much Are People Making from the Sharing Economy?", because it's not. It's more like "How Much Are Loan Applicants Making from the Sharing Economy?"
Re: How Much Are People Making from the Sharing Economy?
#6Without earnings per hour metric, it's hard to make much of this post.
Re: How Much Are People Making from the Sharing Economy?
#7Without earnings per hour metric, it's hard to make much of this post.
I agree with this. They did mention that they don't know how much time workers spent earning this income, but I can see how this piece would convince a casual reader to conclude that these sharing economy platforms are a terrible way to earn money.
Re: How Much Are People Making from the Sharing Economy?
#8I usually enjoy priceonomics posts, but this analysis is disappointing. The sharing economy is a way of deploying labor and capital. So the operating question is, is it a good way of doing so on net? In some sense the market is spoken in that many people are willing to sell in these marketplaces. However, an argument could be made that services like Uber actually exploit the hidden costs associated with selling throu…
>$500/mo on average would be consistent with $50/hour fully netted earnings
Based on what?
Re: How Much Are People Making from the Sharing Economy?
#9If you're charging money, that's not really sharing.
It's not really surprising that airbnb hosts make more money, since some people are buying houses just to rent out the rooms like a flophouse. Can you do that with Uber (one user manage a fleet of cars? It would seem not worth the effort.)
Re: How Much Are People Making from the Sharing Economy?
#10Their data comes from loan applications. Talk about selection bias ...
There date is from a source that exists, as opposed to not having data.
It is a strange complaint to make, unless you know of a better source of data.