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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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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there’s a parallel with the ufa thing kwokchain.com/2020/01/23/und - people who *should have been* served by those institutions weren’t, so they clubbed together and figured it out. Lower barriers to entry mean that today - a fintech will do it instead
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