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If you are risk adverse or just want something steady so you can enjoy a work life balance, go take a job, work your 9-5, don’t quiet quit but don’t go above and beyond.
Option 3: form a worker owned co-op and distribute profits between members instead of shareholders and management.
Note I'm a person who's relatively less motivated by money, and my idea of successful self-employment is to be a consultant with a very good work-life balance. If you're trying to start a billion-dollar company this advice isn't for you, but I wish you the best of luck.
Option 3: form a worker owned co-op and distribute profits between members instead of shareholders and management.
Competition will ensure that incentives remain more or less balanced between the two options (the less freelancers there are, the more they can charge, and the less full timers there are, the more they will be paid). Unless we lived in a world where one of them was so much easier to attract talent to that the other just died off.
For specific people in specific circumstances one might be a bit better (small kids at home, difficulty selling your services, etc'), but the differences between people's preferences aren't that huge, so we should expect the poll to be about 50-50.
I work for myself and love it but it isn't for the faint of heart. If you want to work for yourself I recommend first working for other people for 5-10 years—basically, get paid to learn your industry. Then when you can't rise any farther, that's the time to go work for yourself. Note I'm a person who's relatively less motivated by money, and my idea of successful self-employment is to be a consultant with a very goo…