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RE: Automation Happening Right Under Our Noses...And We Missed It

in LeoFinance4 months ago

It's going to be really interesting to see how COVID actually changes the world long term. I think many large companies are going to start liquidating and a lot of gig work is going to be a real focus for a lot of people. @tipu curate

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It coincides with California Passing more stringent laws regarding what "gig work" actually is. In February the job I had tried to transfer me to being a gig worker and I declined, I wanted to benefits of being an employee (or a raise to monetize the rights I was being forced to forfeit). I ended up jobless, "knowing" that I would be called back in a few weeks as the office was a mess and I kept it together.

I was wrong, covid wiped out the need for the office I was working in, and the industry shows no signs of making a comeback.

I know now, that the gig work law is going to be buried. Just because it exists doesn't mean that it will be enforced.

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Entire industries are being decimated; this is something that we have not really seen before.

The truth is the employment situation was too overstaffed anyway. Companies were reluctant to let people go during good times because of the PR hit. Now, they are realizing, if their industry is still standing, they can get by with a lot less employees.

Automation was probably sped up a couple years due to COVID.

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So my perspective on big companies, working for 2 billion + public companies, is that headcount has only to do with their position in the market i.e. shareholder price or their market cap relative to their revenue. When Market cap and revenue come close for large public companies, they risk being bought up by PE and get restructured because often times industries won't let brands go to waste.

I think gig work law shouldn't really apply because it's the introduction to decentralization from a mainstream perspective. Government subsidizing gig law is a means to an end for eliminating other revenue generators for the gov, such as making it easy for gig workers for uber means less taxi's that they sold 100k medallions for.

I think gig jobs will end up moving to a decentralized self governing model eventually and not too long from now as well

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I would say that a lot of companies are going to automate many of the processes meaning they can hire less people when things do turn around.

This is exactly what happened in the oil industry when it crashed in 2014. More than 300,000 people were laid off from the fields in West Texas and, two years later, only 170K were rehired. At the same time, deep water rigs saw the number of people needed drop from 25 to 5, an 80% reduction.

There is now incentive for companies to do it. After all COVID taught companies people are health risks which can halt their entire business.

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