The industry is growing at an explosive rate, and with major tech giants like Amazon and Google vying for a piece of the pie, the future of this industry is an exciting one. However, eSports certainly has none of the typical confines of a traditional sport—so how does it compare in terms of audience size, market potential, and revenue? The global audience is expected to grow to million by , with League of Legends tournaments often boasting a higher viewership than some of the biggest U. That said, this aspect is now increasing enough to be seen as a threat to more traditional leagues.
The success of eSports tournaments is attributed to live-streaming platforms. Google, which lost the bidding war for Twitch, has recently made its own big move into gaming with cloud gaming service Google Stadia.
Accelerating toward profitability
Ultimately, the company hopes it will help keep live-streamers on YouTube instead of competing platforms. Over time, eSports will tap into bigger advertising budgets, and reach national, regional, and global levels, as traditional sports are able to. As a whole, eSports is starting to seriously compete with the big leagues.
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With a massive worldwide appeal, passionate fans, and billion-dollar revenues, the industry is only beginning to take flight. The debate however, is not around the battle between eSports and traditional sports. It is around the shift to celebrating a culture that is completely virtual, over one that is physical—which has much bigger implications. According to a representational poll of 18, Americans, these are the organizations considered to have the best and worst reputations.
Aspiring companies must be truly customer-centric, going above and beyond in how they treat their customers. In total, the visualization shows five years of data, so you can see how the rankings have changed over this stretch of time. This mantra must be effective, since Wegmans consistently ranks as having one of the best reputations in the entire country.
The online retailer has taken the 1 spot in the rankings in three of the last five years, despite a generally negative sentiment hanging over tech giants in recent months. You earn reputation by trying to do hard things well. As Warren Buffett quipped, a reputation can be built over decades, but it can also be lost in just five minutes. Various companies that have experienced recent scandals make the list here i.
For the edition, the poll had 18, respondents from a nationally representative sample. Email address. Connect with us. Sizing Up the Tech Giants For all of their commonalities, it seems that there is less of a mold for how these tech giants end up generating cashflow. The result: a bullish outlook for the U.
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Research Liquefied Natural Gas Gets Ready for Global Export Sep 4, A wave of investment in liquefied natural gas LNG is creating a new global commodity market, and making waves in energy, infrastructure and beyond. Originally, in , Botsman and Rogers identified three resource circulation systems within collaborative consumption, i. Product-service systems refer to commercial peer-to-peer mutualization systems CPMS , allowing consumers to engage in monetized exchanges through Social peer-to-peer processes for temporary access to goods.
Goods that are privately owned can be shared or rented out via peer-to-peer marketplaces. Users can access a car when and where they need one and pay for their usage by the minute. A system of collaborative consumption is based on used or pre-owned goods being passed on from someone who does not want them to someone who does want them. This is another alternative to the more common ' reduce, reuse, recycle , repair' methods of dealing with waste. In others, the goods are swapped as on Swap.
Collaborative lifestyles refer to community-based platforms, allowing consumers to engage in monetized exchanges through Social peer-to-peer processes for services or access to resources such as money or skills. The growth of mobile technology provides a platform to enable location-based GPS technology and to also provide real-time sharing. Encompassing many of the listed benefits of the sharing economy is the idea of the freelance worker.
Through monetizing unused assets, such as renting out a spare guest room on Airbnb, or providing personal services to others, such as becoming a driver with Uber, people are in effect becoming freelance workers. Freelance work entails better opportunity for employment, as well as more flexibility for workers, as people have the ability to pick and choose the time and place of their work. As freelance workers, people can plan around their existing schedules and maintain multiple jobs if needed.
According to an article by Margarita Hakobyan, freelance work can also be beneficial for small businesses. With freelance workers offering their services in the sharing economy, firms are able to save money on long-term labor costs, and increase marginal revenue from their operations. Researcher Christopher Koopman, an author of a [ which? The power bank-sharing concept works as follows: Through an app, users locate a shared-charger station, scan a QR code , pay a deposit, and borrow a power bank.
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The battery packs can be returned to any charging station. After the first day, users were charged 2 yuan per day for the service. The company failed in An independent data study conducted by Busbud in compared the average price of hotel rooms with the average price of Airbnb listings in thirteen major cities in the United States. It has the same business model as that of sharing economy based companies like Uber, Airbnb, or CanYa. The contract workers use their personal vehicles to deliver groceries to customers.
Instacart manages to keep its cost low as it does not require any infrastructure to store goods. In addition to having contract workers, Instacart allows signing up to be a "personal shopper" for Instacart through its official web page. Oxford Internet Institute, Economic Geographer, Graham has argued that key parts of the sharing economy impose a new balance of power onto workers. New York Magazine wrote that the sharing economy has succeeded in large part because the real economy has been struggling. Specifically, in the magazine's view, the sharing economy succeeds because of a depressed labor market, in which "lots of people are trying to fill holes in their income by monetizing their stuff and their labor in creative ways", and in many cases, people join the sharing economy because they've recently lost a full-time job, including a few cases where the pricing structure of the sharing economy may have made their old jobs less profitable e.
The magazine writes that "In almost every case, what compels people to open up their homes and cars to complete strangers is money, not trust.
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Tools that help people trust in the kindness of strangers might be pushing hesitant sharing-economy participants over the threshold to adoption. But what's getting them to the threshold in the first place is a damaged economy, and harmful public policy that has forced millions of people to look to odd jobs for sustenance. Uber's "audacious plan to replace human drivers" may increase job loss as even freelance driving will be replaced by automation.
Frey found that the "sharing economy", and Uber in particular, has had substantial negative impacts on workers wages. Some people believe the Great Recession led to the expansion of the shared economy because job losses enhanced the desire for temporary work , which is prevalent in the sharing economy. However, there are disadvantages to the worker; when companies use contract based employment, the "advantage for a business of using such non-regular workers is obvious: It can lower labor costs dramatically, often by 30 percent, since it is not responsible for health benefits, social security, unemployment or injured workers' compensation, paid sick or vacation leave and more.
Contract workers, who are barred from forming unions and have no grievance procedure, can be dismissed without notice". There is debate over the status of the workers within the sharing economy; whether they should be treated as independent contractors or employees of the companies. This issue seems to be most relevant among sharing economy companies such as Uber. The reason this has become such a big issue is that the two types of workers are treated very differently. Contract workers are not guaranteed any benefits and pay can be below average.
However, if they are employees, they are granted access to benefits and pay is generally higher. The California Public Utilities Commission filed a case, later settled out of court, that "addresses the same underlying issue seen in the contract worker controversy—whether the new ways of operating in the sharing economy model should be subject to the same regulations governing traditional businesses".
In , a lawsuit was filed against Instakart alleging the company misclassified a person who buys and delivers groceries as independent contractor. This led to Instakart having thousands of employees overnight from zero. A article by economists at George Mason University argued that many of the regulations circumvented by sharing economy businesses are exclusive privileges lobbied for by interest groups.
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For example, taxi unions lobbying a city government to restrict the number of cabs allowed on the road prevents larger numbers of drivers from entering in the marketplace. The same research finds that while access economy workers do lack the protections that exist in the traditional economy,  many of them cannot actually find work in the traditional economy. As the sharing economy grows, governments at all levels are reevaluating how to adjust their regulatory schemes to accommodate these workers. Andrew Leonard ,    Evgeny Morozov ,  Bernard Marszalek,  Dean Baker ,   and Andrew Keen  criticized the for-profit sector of the sharing economy, writing that sharing economy businesses "extract" profits from their given sector by "successfully [making] an end run around the existing costs of doing business" - taxes, regulations, and insurance.
Similarly, In the context of online freelancing marketplaces, there have been worries that the sharing economy could result in a 'race to the bottom' in terms or wages and benefits: as millions of new workers from low-income countries come online. Susie Cagle wrote that the benefits big sharing economy players might be making for themselves are "not exactly" trickling down, and that the sharing economy "doesn't build trust" because where it builds new connections, it often "replicates old patterns of privileged access for some, and denial for others". But the reality is that these markets also tend to attract a class of well-heeled professional operators, who outperform the amateurs—just like the rest of the economy".
The local economic benefit of the sharing economy is offset by its current form, which is that huge tech companies reap a great deal of the profit in many cases. The impacts of the access economy in terms of costs, wages and employment are not easily measured and appear to be growing. However, the exact percentage of those performing short-term tasks or projects found via technology platforms was not effectively measured as of by government sources. Another survey estimated the number of workers who do at least some freelance work at Economists Lawrence F.
Katz and Alan B. Krueger wrote in March that there is a trend towards more workers in alternative part-time or contract work arrangements rather than full-time; the percentage of workers in such arrangements rose from At the individual transaction level, the removal of a higher overhead business intermediary say a taxi company with a lower cost technology platform helps reduce the cost of the transaction for the customer while also providing an opportunity for additional suppliers to compete for the business, further reducing costs.
Classical economics argues that innovation that lowers the cost of goods and services represents a net economic benefit overall. However, like many new technologies and business innovations, this trend is disruptive to existing business models and presents challenges for governments and regulators.
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For example, should the companies providing the technology platform be liable for the actions of the suppliers in their network? Should persons in their network be treated as employees, receiving benefits such as healthcare and retirement plans? If consumers tend to be higher income persons while the suppliers are lower-income persons, will the lower cost of the services and therefore lower compensation of the suppliers worsen income inequality? These are among the many questions the on-demand economy presents. Using a personal car to transport passengers or deliveries requires payment, or sufferance, of costs for fees deducted by the dispatching company, fuel, wear and tear, depreciation, interest, taxes, as well as adequate insurance.
The driver is typically not paid for driving to an area where fares might be found in the volume necessary for high earnings, or driving to the location of a pickup or returning from a drop-off point. Uber, Airbnb, and other companies have had drastic effects on infrastructures such as road congestion and housing. Major cities such as San Francisco and New York City have arguably become more congested due to their use. According to transportation analyst Charles Komanoff, "Uber-caused congestion has reduced traffic speeds in downtown Manhattan by around 8 percent".
The percentage of seniors in the work force has increased from As a response to the fast-changing nature of working practices in the modern economy, especially temporary work , The UK Government has carried out a review and issued guidelines in an attempt to address these issues. In addition, The Taylor Review outlines demands asking the distribution of power be distributed at a more equal level. It asks for workers of these, gig economy businesses be labeled as "dependent contractors with extra benefits". Other demands include, better corporate management, skill development efforts, fostering of a positive workplace, and financial representation provided by the state.
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