Uber’s business model, which connects customers with individual service providers on smartphone apps with constant tracking and satisfaction survey available, is soon to expand to other areas of business. A New York Times article analyzes this ‘Uberization’ of the service sector, presenting both positive and negative features of it. Uber may provide more flexibility in the labor market, allowing workers to use their time more freely in different jobs simultaneously. These on-demand jobs will make people use their time more efficiently, as computers, not humans, figure out when the demands and supplies meet. At the same time, however, increase of Uber-like jobs might pose a threat to job stability and privacy.

For more see, Uber’s Business Model Could Change Your Work, New York Times.

Posted by Jin Keol Park, Associate Editor, Wealth Strategies Journal