Our vision
New marketplaces create new opportunities. In the last 15 years, markets for institutions at the top of the economy have developed beyond recognition. We’re working towards a similar revolution. But in markets that create opportunities for people at the bottom of the economy.
Disparity in markets
You’ve probably never used a truly modern marketplace. They’re hidden within global financial institutions and other large organisations. That’s why you may not be aware of the huge gap in the way markets have evolved since the mid 1990’s.
- Someone on the trading desk of a multinational bank will sell the institution’s assets in a market that wasn’t possible a decade and a half ago. It will constantly identify the most profitable opportunities, ensure trades are completely safe even if dozens of buyers/sellers are involved and execute transactions in micro-seconds. The overheads of each trade are negligible.
- What economic opportunities have ordinary people gained from new trading technologies? eBay, Craigslist, Gumtree and other consumer marketplaces aren’t much more than classified ads transplanted from newspapers to screens. Selling remains slow, risky and overhead laden.
Sites like eBay are where you sell occasional items. But your recurring economic asset is your time; that’s what an employer pays for. We need markets in which people can sell their time as effectively, easily and safely as possible.
Modern Markets for All
A modern marketplace for people’s time will be much more complex behind-the-scenes than auction or listings sites. But it can create opportunities for work that don’t exist at the moment.
We’re working towards a world where anyone with time on their hands can realise the value of that asset. They may be unskilled, computer illiterate or have special needs. With the right marketplace they can find a niche.
That may be formal work, or providing local services, or volunteering. But, crucially, the person will be in total control and have a full overview of their constantly changing options. Transactions will be safe and instant, not accomplished with phoning or emailing. That dramatically lowers the overheads, risks and inconvenience of buying.
