An evolution that would be really good for the gig economy would be the evolution of decent risk-pooling models. The kind described in “portfolios of the poor” but higher ticket price.
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Example, 12 people form a pool of putting $100/mo into club, 1 person gets an $1100 payout per month. Winner drawn from a bag of names OR someone with an emergency gets to jump the queue. Limit 1 per year. Nobody needs to hold funds long-term. Built purely on trust.
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Lots of mechanisms like this are routinely used by developing world poor and lower-middle class. But they’ve fallen into disuse in the west. Instead we on,y have organized banking/credit OR awkward reliance on friends/family.
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The key is to do all this without the need for central asset holding. Only books and trust records are maintained. With incentives to keep people from abusing. Like new member can’t cash out till end of a first full cycle. Missing a month payin bars you on payout for 3 months etc
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This is how desis bought houses in the UK when they were shut out of traditional bank borrowing. In my constituency the local Labour Party leadership still stems from that organization
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That’s kinda how the practice evolved to begin with in India I think. Mutual insurance for groups institutions wouldn’t risk-underwrite.
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This still happens regularly in northern India region. It’s called committee fund.
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It’s not gambling for upside, it’s insurance against downside
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