wherever you arejoining me from around the world, once again a big hello and a warm welcome to the show. you know, we have seen lots of massive disruptions to the global economy in the last few years. the pandemic shut the world down and now war and sanctions are driving prices up. but before covid, the world of workers was going through another disruption and a digital one at that. technology companies were launching platforms like uber, justeat and deliveroo where people could work for less than an hour if they chose, rather than sign contracts for work for years. companies worth billions have been created leaving regulators and competitors running to catch up. statistics in this sector are difficult to come by. one american survey found that one in three workers in the united states are now freelance and their numbers the great resignation, following the pandemic. in india an official government think tank thinks there will be more than 23 million workers in the gig econom
the boss of the australian based work platform, airtasker and the man leading the policy to regulate the sector, european commissioner, nicholas schmit. also on the show i am going to be talking about supply chains, and the economic pressures of doing business in turkey where inflation is running at 80%. companies. i have got the big bosses of the company which owns companies. where ever you arejoining me from around the world, once again a big hello and a warm welcome to the show. you know, we have seen lots of massive disruptions to the global economy in the last few years. the pandemic shut the world down and now war and sanctions are driving prices up. but before covid, the world of workers was going through another disruption and digital one at that. technology companies were launching platforms like uber, just eat and deliveroo where people can work for less than an hour if they chose, rather than sign contracts for work for years. companies work millions left regulator
We start in the us, where shares of meta, hello. If you are justjoining us, you are in time with the top business stories. We start in the us, where shares of meta, the owner of facebook, instagram and whatsapp plunged in after hours trading after its forecasts disappointed wall street. Investors are concerned the huge amount meta is spending on Artificial Intelligence may not translate into higher profits. Lets show you the details. When it comes to how much money meta is making, profits came in at 12 point 4 billion in the first three months of the year. Thats more than double the amount it made this time last year, and better than expected. But heres one of the numbers worrying investors, meta expects its costs to rise to almost 100 billion this year, as it invests heavily in al and virtual reality. Coupled with a forecast that revenues will barely grow in the Current Quarter that sent shares plunging some 13 in after hours trading. Wiping as much as 160 billion off its stock market
absolutely incredible. a container that used to cost $2,000 ended up costing $20,000. which makes it prohibited for you to pass on those costs to come humours. ship owners, the shipping lines of really abusive situations by raising the prices exorbitantly. i think this cycle will turn around with demand reducing because of geopolitical tensions, the war. energy inflation, i think we will see a return to normalcy and that will really ease our operations. when do you think we will see manufacturing and distribution stabilising? i would say six to 12 months we will see stabilisation. basically on the back of reduced demand, probably. another crisis that much of the world is facing is the energy crisis, these energy prices are soaring. how is that affecting your business? it is notjust affecting our
demand. which was very challenging to manage. but i like to think that we are a diverse footprint, global footprint has really helped us create local ecosystems supply. there has helped us weather the storm better than our competitors. just supply security is not the only issue here, the logistics, the cost, the increase in logistics has been absolutely incredible. i used to cost 2000 ended up costing $20,000. which makes it prohibited for you to pass on those costs to come humours. ship orders, the shipping lines of really abusive situations by raising the prices exorbitantly. i think this cycle will turn around with demand reducing because of geopolitical tensions, the war. energy inflation, i think we will see a return to normalcy and that will really ease our operations. when do you think we will see manufacturing and distribution stabilising? i