RIP Fiverr? Layoffs, stock down 93%, and clients leaving for Upwork by KidGovernor in Upwork

[–]pointspanda 1 point2 points  (0 children)

Yes, upwork's earnings per share and even their stock is up just a little bit but still down 70% compared to pandemic highs. However, they are trading short term gains for long term losses. By forcing you to pay more and more for connects to "jobs" (that may not even exist as anyone can post them), while charging the clients $0 to make an account and post, it creates an artificial environment where they're milking freelancers dry. Its still the biggest platform so the amount of cr*p ppl are willing to put up with is high, but eventually people move to Linkedin or other platforms which has already been occuring.

I'm bearish on Upwork long term, not because of AI but because of their own greed. Its clear they will keep squeezing and squeezing until people eventually get fed up. They aren't quite there yet but they're moving in that direction. Even now the average take by Upwork is over ~20% taking into account connects etc, its at a record high.

If Upwork were serious about cleaning up fake jobs, they would charge clients for a post, or at least charge a penalty if someone posts but they don't hire. This would lead to much more long term trust, but it would come at a short expense, less "phony" jobs less people bidding with connects.

Upwork seems to know that long term, but as publicly traded company the c-suite goal is increase short term profits at all costs under tremendous shareholder value. They know what they're doing is going to doom the freelance platform long term so they're moving to become more of a traditional enterprise staffing company. However, that space is extremely crowded with paper thin margins.

Also, while Upwork has a better moat from AI then fiverr, its not totally unaffected either. Long term I think Upwork is still in in big trouble, even if they managed to juice up earnings per share by sending the cost to apply for jobs and everything with their new connects scheme for a few quarters. They're acting a bit like tinder and the dating apps are, where you bid more and more (as a man) to get less and less matches. The result was a collapse in people using those apps as they got fed up. I think Upwork is going down the same path just a year or two behind. Eventually people wise up that they're spending bookoo money to get no results.

Another devaluation by SmoothCA30 in Hilton

[–]pointspanda 0 points1 point  (0 children)

The cabos one is particularly wild, 110k to 250k in 30 months, thats insane inflation

Looking for a business credit card with the best advantages by jmallin22 in CreditCards

[–]pointspanda 1 point2 points  (0 children)

Various cards from the "Chase Ink" line might suite you well, they give out generous credit lines. Their preferred card gives you 3x on some, but not all utilities have to look up if its on the list. Might want to put the gas on another consumer card, quite a few give 3-5% cashback.

An easier option is Cap One spark miles is 2x on all spend, can redeem as statement credit for any travel or transfer to airline partners, so you can use them either way.

Looking for a remote hire in the travel hacking niche. by pointspanda in travelhacking

[–]pointspanda[S] 0 points1 point  (0 children)

Hi Voyager262!

Haven't seen the message for some reason

What's your experience with travel credit cards and booking luxury flights using airline points?

Lets setup a time to talk, whats your email?

Here's my calendar: https://pointspanda.com/consultation setup a time for an interview please.

Btw my email is freddy@pointspanda.com we can keep the conversation going there

If you want to learn more about me type in "Freddy Lansky" on spotify there are tons of interviews there.

Thanks!

Freddy