According to Reid Hoffman, co-founder of LinkedIn, traditional 9-to-5 jobs will become extinct by 2034 as more people opt for freelance and gig work.
In a widely circulated video on X (previously known as Twitter), Hoffman elaborated on his predictions for the evolving industries and the potential replacement of traditional jobs in the years to come.
According to the speaker, it is possible to work for multiple companies as well as in different industries. As industries continue to evolve, so may your career path. In fact, it is becoming increasingly common to work in a gig economy or have multiple gigs rather than being solely employed by one company.
The concept of the gig economy involves entering into contracts with multiple companies across diverse industries. To put it simply, he foresees a rise in the number of individuals engaging in freelance work rather than adhering to conventional positions. Hoffman stated that this will result in a greater number of prospects, but it may also lead to uncertainty.
In 2023, the Writers Guild of America initiated a strike, alleging that numerous companies were implementing gig economies in a unionized workforce. There is also a potential danger posed by AI tools such as ChatGPT, which can assist individuals in “cheating”during job interviews.
Hoffman’s past predictions are spooky:• Predicted social networks would change the world (LinkedIn sold for $26B)• Saw the sharing economy coming (Early Airbnb investor)• Called the AI revolution years before ChatGPTSo we should probably listen to his latest prediction: pic.twitter.com/7CzIyMuRiO
— Neal Taparia (@nealtaparia) July 24, 2024
According to him, the changes in workforce over the past few decades have created numerous opportunities for growth and development.
“While it does increase productivity, it also brings about a significant amount of uncertainty. As individuals tend to prefer stability, one of our main challenges is finding ways to reduce this uncertainty.”
Neal Taparia, a user on the platform, shared the video and also pointed out Hoffman’s previous 1997 predictions about the growth of social media, further emphasizing their accuracy.
According to the Columbus Dispatch, the percentage of individuals in the US who hold full-time traditional jobs is currently below 42%.
With the increasing trend of remote work, flexible schedules, and individuals seeking more autonomy in their careers, it is not surprising to see a rise in freelancing. According to Upwork’s 10th annual study, Freelance Forward: 2023, freelancing has reached a record high.
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