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Blink 3 of 8 - The 5 AM Club
by Robin Sharma
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Raw Deal summary
Steven Hill
How the “Uber Economy” and Runaway Capitalism are Screwing American Workers
17 mins
Brief summary
Raw Deal by Steven Hill explores how Silicon Valley's promise of prosperity has resulted in inequality and job loss for many Americans. He argues for policies that support a more equitable and sustainable economy.
Table of Contents
Raw Deal
Summary of 7 key ideas
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Key idea 1 of 7
The sharing economy promises freedom but doesn’t deliver.
You may not realize it, but every time you use Airbnb or Uber, you’re taking part in a new economy, known as the peer-to-peer or sharing economy. While it might sound like an exciting new development, many are raising important questions about how good this new business model really is for the economy and society as a whole.
Those in favor of the sharing economy call it revolutionary, and believe it could create a kinder, gentler strain of capitalism. And since it removes the middleman and cuts through the red tape of government regulations, supporters see it as a path to greater freedom in the marketplace.
Let’s take a closer look at Airbnb. While it has by now grown into an enormous multinational corporation, it was first seen as an exciting new business venture that could disrupt the market by offering an alternative to overpriced hotels.
It even received praise from across the political spectrum, with liberals seeing it as an example of self-sufficiency and sustainable practices, while conservatives supported its decentralized business model.
But as we can see now, neither is true. The benefits of a sharing economy are mixed at best, and what we’re left with is raw capitalism and impersonal, faceless transactions.
Airbnb might have begun with the idea of letting people make some extra money by sharing a spare room, but the company’s greed has since destroyed that concept.
Airbnb is now flooded with professional renters, and landlords are evicting regular tenants in order to make more money through temporary rentals. Even though Airbnb is aware of this, they obscure this fact by putting forward a wholesome image of sharing.
They also disregard laws that try to protect tenants.
Many cities prohibit rentals for less than 30 days so that tenants have some security. But Airbnb dodges these regulations by positioning itself merely as a booking agent that can’t be held responsible for how anyone might use their services illegally. Airbnb has also avoided the responsibility of paying hotel taxes in a similar fashion.
But as we’ll see in the blinks ahead, there are many more serious problems with the sharing economy.
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What is Raw Deal about?
Raw Deal (2015) reveals the ugly truth behind the new sharing economy and the harm that companies like Uber or Airbnb are inflicting upon societies around the world. There’s a major crisis on the horizon, and it will affect not only these companies’ exploited employees. We’re all at risk, and we’ll need to choose our next steps wisely to prevent an economic collapse.
Raw Deal Review
Raw Deal (2015) by Steven Hill is a captivating exploration of how the digital revolution has impacted the job market and income inequality. Here's why this book is definitely worth reading:
- Through meticulous research and compelling analysis, Hill sheds light on the challenges and opportunities presented by the rise of technology.
- By examining real-life case studies and statistics, the book offers an in-depth understanding of the economic and social implications of automation.
- Hill's thought-provoking arguments and insightful storytelling take readers on a journey that makes this book an engaging and enlightening exploration of an important issue.
Best quote from Raw Deal
Thats not sharing. Its just raw, naked capitalism.
—Steven Hill
Who should read Raw Deal?
- Students of economics and politics
- Readers interested in the job market and labor regulations
- Employees worried about declining workplace standards
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Raw Deal FAQs
What is the main message of Raw Deal?
The main message of Raw Deal is an exploration of the decline of working conditions and economic inequality in the United States.
How long does it take to read Raw Deal?
The reading time for Raw Deal varies depending on the reader's speed, but it typically takes a few hours. The Blinkist summary can be read in just 15 minutes.
Is Raw Deal a good book? Is it worth reading?
Raw Deal is a thought-provoking book that sheds light on a critical issue. It is definitely worth reading.
Who is the author of Raw Deal?
The author of Raw Deal is Steven Hill.
What to read after Raw Deal?
If you're wondering what to read next after Raw Deal, here are some recommendations we suggest:
- Outliers by Malcolm Gladwell
- Thus Spoke Zarathustra by Friedrich Nietzsche
- Good Leaders Ask Great Questions by John C. Maxwell
- Give and Take by Adam Grant
- The Hidden Wealth of Nations by Gabriel Zucman
- Your Brain on Art by Susan Magsamen & Ivy Ross
- The Upstarts by Brad Stone
- The Almanack of Naval Ravikant by Eric Jorgenson
- The Tipping Point by Malcolm Gladwell
- So Good They Can't Ignore You by Cal Newport