The world of work is changing at a dizzying pace, and although it wil likely be a little while longer before you answer to a robot line manager, there is some genuine concern about the insecurity of jobs in the on-demand app economy. But it’s not all robo-redundancy, and whether or not you eat being dependent on someone tapping a button in an app: a University of Pennsylvania study has revealed that crowdfunding site Kickstarter has done an excellent job of creating jobs out of nothing.
How excellent is excellent? Well, based on a survey of Kickstarters that managed to raise more than $1,000 between the site’s inception and last May, Ethan Mollick discovered that successful projects have created 5,135 full-time jobs, not including those for the creators themselves.
Working with the figures cited in the study, including the creators and adding in the projects funded in the past 12 months, Kickstarter estimates around 29,600 full-time jobs have been created off the back of crowdfunding – an extrapolation that Professor Mollick is happy with. Based on this, with current success rates you can estimate that for every 1,000 projects started on Kickstarter, 82 full-time jobs will be created.
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On top of this headline figure, an additional 283,000 part-time jobs opened up, and $5.3 billion was generated in direct economic impact. “There also appears to be substantial new innovations and positive social good that comes from crowdfunding campaigns, though this can be difficult to quantify,” the study concludes.
Of course, while these figures show that crowdfunding can generate jobs and aid the local economy, one thing it can’t objectively explain is how efficient it is at this compared to other business models. The report acknowledges this, but ultimately concludes: “it is clear that, overall, the money raised from campaigns leads to positive returns across a variety of measures”.
Image: Rex Hammock used under Creative Commons
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