The world does not look radically different from the place it was 20 years ago, at least not at a quick glance. But zoom in a bit, and one realizes that through a million small shifts, in some ways the world is unrecognizable. The world of work is different, as gig workers are becoming a norm, not an exception, and the gig workers themselves seem to like it that way. Luxury used to be local, but through the power of portals like Farfetch, it’s now globally connected. Online checkout once felt like and eternal process, and now it’s a few seconds – and on pace to pick up speed. There are risks and losses – fraudsters unfortunately make off with billions a year – but the gains are greater, and mounting.
$16.9 billion: The amount of money that will be lost to identity fraud in the U.S. last year.
$6 billion: Estimated pre-IPO valuation of Farfetch.
75 percent: The amount checkout times have declined online.
58 percent: Share of gig workers who neither have nor want a full time job.
45 percent: Share of gig workers who use online marketplaces as their primary destination for sourcing work.