Economy. Flexibility to accept individual gigs and the freedom to work on your own schedule. Thats the promise of the ondemand apps like uber and postmates. Others warn the sharing economy leaves workers without a safety net, benefits or employee protections. Thats our cover story. If you have ever hailed an uber or lyft, rented out a room on airbnb or ordered a craft on etsy you participated in the gig economy. People getting paid for goods and Services Sold on a digital marketplace. More than 90 Million People in the United States have bought something in this new sharing economy, and more than half that number, 45 million americans, have worked the gig economy. For most people its a way to earn extra cash. Up to 15 million americans say it is a major source of their income. We see the top 10 of our work force doing this full time. Theyre picking up two to three jobs a day. They are making upwards of 7,000, 8,000 a month. Reporter more than 70 of gig economy works say they love working in the industry, but along with the freedom and flexibility of ondemand work comes the growing concern about worker protection. Most Digital Workplaces classify themselves as independent contractors meaning companies dont offer benefits like sick pay or payroll taxes and that led to threats of more regulations and lawsuits. Uber is fighting a Class Action Lawsuit in california saying that drivers are actually employees and instacart are allowing some to switch from contractors to employees. Joining us is steve case. He put america on the internet when he cofounded aol, now hes the founder of Venture Capital Firm Revolution in washington, d. C. , and a leading voice in shaping government policy on entrepreneurship issues. Hes the author of a new book the third wave. Steve, thank you so much for joining us today. Great to be with you, becky. Theres a tradeoff when it comes to the gig economy. Its something that has come up frequently in the president ial election this time around. What do you think, are gig economy jobs good or bad for the American Worker . They are good. As you said in your piece, its not just about the gig, but its about giving people flexibility. And not just for consumers to book the service more conveniently but flexibility for people working. We have seen it a decade in the white collar jobs. People who are teachers for example by tutor, people are lawyers and become moms, maybe do legal work on the side. Were just now seeing it broaden and giving that same opportunity to people in other fields, whether its driving cars, cleaning houses or other things. Overall i think its a great thing, it gives them flexibility, but overall a new concept. One of the things i talk about in the book is how work itself is changing and we need to make sure policies reflect the change. Theres discussions underway in washington what the right balance is between providing flexibility to people and also providing a safety net. What is the right balance . Thats the huge question. How do you get policy right if youre in the government looking at this very changing work force . First of all, you need more dialogue between the innovators and the policymakers. Thats been lacking on a lot of issues. In this particular issue there is a lot of discussion. There are some bills being discussed in congress, im on the National Advisory council, innovation and entrepreneurship. This is an area of focus. It will take some time to work through the issues. My guess of what will happen is there are some benefits that will be more portable and modularized when you take an uber car there maybe a slight Fee Associated that goes in to a bucket that provides some of the benefits, workers comp and other benefits. I think it will take some time. This concept didnt exist five years ago. Now millions of people are part of this flexible economy. Tens of millions are part of the freelance economy. We need to recognize that the nature of the work has changed. I think that will accelerate in the third wave and put more pressure on policymakers to keep up with the innovations. Lets talk about the third wave. Thats the title of your book. You kind of lay out three waves of the internet. The first one where Companies Like another built the foundation for the internet. Second wave was you had social companies coming in, mobile applications taking off and now were in the third wave. What is that wave . It is integrating the internet in seamless and pervasive ways throughout our lives. I think it will change the nature of work and how kids learn in classes, how we stay healthy and how hospitals and doctors work. Its energy, transportation, even the food sector will change. We see some disruption in those sectors in the first wave and second wave, but frankly not that much. I think well see a lot in the third wave. The reason i wrote the book i think it will require a different mind set and play book. Whether you are a entrepreneur, starting a new company. Whether youre a big Corporate Executive trying to understand the future, whether youre a policymaker or worker, a citizen trying to figure out where the world is going and how to position yourself and your family to be a part of that future. How do you do that . Whats the mindset we should have in mind. You have to lean in the future, you cant focus on where things are. Wayne gretzky, people say he was great pockky player because he focused on where the puck was going. All of us have to have a sense of where the puck is going, how you position your life, company or organization to be a part of that. Second to understand what is happening in those areas. Particularly if youre a large company. Kind of understand whats happening around the periphery. What some entrepreneurs are doing. You need more partnerships between the startups and the Big Companies in the third wave, and you need more dialogue between the policymakers and the innovator. It will require this different mi mindset. The second wave was mostly about software and apps and there are great successes, facebook, twitter, snapchat and many others. As the internet makes the next leap to the third wave we need to partner more and have a constructive dialogue on some of the difficult issues. If im just an average American Worker sitting at home, how should i take that message . What should i do . It is easy for someone like you to see the future when it comes to the internet and hard for the rest of us to envision that what types of things should i be doing to make sure im not left behind . Bottom line recognize it is changing. When i was growing up, my dad worked for one organization for 60 years. When i graduated from college i had several jobs in several years. Now some people have several jobs with several companies in the same day as part of this gig economy, this flexible economy. It provides flexibility but you have to understand where it is going and how to position yourself, what additional skills you should focus on learning, how to make sure your kids get the education they need to be successful in this third wave. Thats part of what im trying to provide as a play book or a little road map for everybody. If obviously if im an entrepreneur, i would be looking for advice from you, too. If you had one piece of advice for someone starting out as an entrepreneur today, what would you tell them . It was easier in the second wave because it was about the apps and you didnt need to partner. The third wave will be harder. You will need the three ps in the book, perseverance, some will take a decade, partnership, partner with hospitals, universities or Big Companies and policy. You will need to engage on somebodys policy and regulatory issues. With this gig economy or flexibility economy. Sectors like food and health are regulated. You may not like the regulations. Maybe the regulations should change but there will be some regulation. The big opportunities to change peoples lives in the third wave will require a different mind set, perseverance and engagement on policy. Steve, thank you very much for being here with us today. Thank you, becky. It was great. Again, the book is called the third wave. Now heres a look at what is making news as we head to a new week on the money. Americans cut back on spending last month. Retail sales fell 0. 3 in march instead of the slight increase that was forecast. The drop was led by falling demand for cars, clothes and dining out. Retail sales are watched closely since Consumer Spending accounts for twothirds of the economy. Stocks gained this week. On thursday, the dow closed at the highest level since march 20th. The stocks fell on friday. Booking a flight the s oldfashioned way got cheaper. Delta airlines is eliminating 25 charge for tickets purchased over the phone from a live reservation agent. United and american still charge 25 fees for ticketing over the phone with their companies. And the nbas Golden State Warriors will try to repeat as nba champions following the recordbreaking season. Steph curry and the warriors won 73 games, beating the previous high of 72 wins that was set by Michael Jordan and the Chicago Bulls 20 years ago. Up next on the money, a Small Business boom is accelerating in a surprising place. We will meet entrepreneurs revitalizing their hometown. And later prosh, procrastin had a little more time to get taxes done this year, but the irs deadline is fast approaching. We have lastminute tax tips at crunch time. As we head to a break look at how the stock market ended the week. After the decline of the Auto Industry the housing collapse, population exodus and a city bankruptcy filing, detroit was in need of a serious turnaround. Kate rogers tells us how Small Businesses are making it happen in motown. Hi, kate. This time the city is engineering a comeback that is reliant on Small Business and a diversified work force. After emerging from the largest municipal bankruptcy in history, detroit is undergoing a revitalization, driven by Small Businesses that believe in the citys future. April anderson launched her bakery, good cakes and bakes, in 2013, serving organic products made from locally sourced ingredients. Her goal is to see underserved areas of the Community Come back from the brink. People are starting to realize that you need to move out to the neighborhoods because the neighborhoods keeps the business going. Reporter april is in good company. Data shows there are 1,000 Small Businesses for every 100,000 residents in the detroit metro. While a dwindling population had been an issue, that exodus has slowed in recent years. Another Small Business making its way in motor city is Detroit Denim Company. Started in 2010 by a former chemical salesman who lost his job in 2009. He loved jeans and decided to turn his hobby in to a business. I couldnt have done it anywhere else. I couldnt have done it in chicago, new york, any other city. I wouldnt have had i think the ability to go find a place and start making something. Reporter today they employ seven people and are on track to open a new retail store in a few weeks. The most rewarding part, employing locals and teaching them new skills. Something they say was badly needed after the Auto Industry collapsed. Making things is we have done that in detroit for hundreds of years. Its really rewarding to revive some of those old skill sets and to be able to employ people. Thats a real gift. Reporter both good cakes and bakes and Detroit Denim Company worked with several incentive and Grant Programs in the city, including tech town, a nonprofit incubator and accelerator that mentors entrepreneurs. They have helped 16 companies create 1,200 jobs in the past eight years. More broadly the metro has seen 227,000 private sector jobs, added from 2009 through the end of 2015, according to the detroit regional chamber. Anderson is now employing four parttimers at her bakery. Shes had big successes even baking for oprah but takes the most pride in serving her community. Its more validating when the Community Supports me. Oprah comes to town and leave but to have the Community Buy in is more important than that. Reporter a community of detroiters that has been through so much ready to forge ahead. Becky, its amazing to see the commitment to detroit these natives have in wanting to see the city succeed. To that point, there are plenty of others relocating there, as well. Are there hurdles the Small Businesses feel they face at this point . Absolutely. A lot of revitalization is concentrated in the downtown. They have amazing statistics, their real estate, residential and commercial almost 100 full in 2014. Which is a very, very big deal. But the thing is that needs to spread out to the rest of the community. Thats why it is important that april and detroit denim are going in to neighborhoods outside of downtown and trying to make the revitalization happen there, as well. Kate, thank you so much. Thank you. Up next, on the money, the 2015 tax deadline is monday. Freaking out yet . Dont worry. We have lastminute survival tips to help keep you out of tax trouble. Later, spring is in the air. For sale signs are out, but when is the best month to try to sell your h home . Lets wash it with febreze. For all the things you cant wash, use. Febreze fabric refresher whoa hey mrs. Webber inhales hey, it smells nice in here and try pluggable febreze, with up to 4 times the freshness in one refill. Pluggable febreze and fabric refresher. Inhale exhale mnemonic]. Two more ways to breathe happy announcer ifis the staying awake part. Y [train horn blares] sleep train has your ticket to a better nights sleep. With a 100 night low price guarantee, sleep trains love your mattress money back guarantee, same day delivery, plus helpful advice from the sleep experts, its no wonder more than a Million People fall asleep each night on a sleep train mattress sleep train [train horn] your ticket to a better nights sleep calling all procrastinators, time is running out for filing your 2015 tax returns. This years deadline is april 18th, giving you a few extra days to get it done. If you havent started yet, Senior Personal correspondent Sharon Epperson is here with a lastminute Survival Guide that will help keep you out of tax trouble. I hate to say it, where do they begin if they havent started yet . They have to begin by getting organized. Making sure they have all the documents in place. A couple of key numbers you want to have ready are the Social Security number and that of your dependents and your bank routing number. Even though you are waiting until the last minute hopefully you get a refund and you want the direct deposit as soon as possible. Gathering the documents, w2s, the 1099s. That takes forever. And you have to show ira distributions, you want proof of that. Any receipts that you have for credits and deductions, 1098 form for mortgage interest, key, charitable donations receipts and any taxes paid, real estate taxes, state and local income tax you want come take of what you paid. If im ready to file, does it matter if i file electronically or snail mail . It doesnt matter in terms of the irs wants your tax return on time any way it can get it. For you the best thing to do is file electronically. The irs says you are less likely to have errors and more likely to get the refund faster if you efile and ask for direct deposit. There are a couple different ways you can do it. If you qualify by income you can use irs free file and anyone can use the free fillable forms on the irs website. Of course you can download software, commercial software from turbo tax or h r block and the irs has providers that they say are accredited and work with. And you can look for one on the irs website. Assuming im trying to get things together at point, its a lot to process. Lets say, this is not going to happen in time. The form to file for an extension is 4868. You have to do it by the april 18th deadline to avoid penalties or fees that you have to pay. The other thing you need to know is this is an extension to file your tax run but not an extension to pay what you may owe. If you owe tax, you have to pay as best as you can that tax by the april 18th deadline. Even if you are not sure what it will be . Try to estimate and pay something. Send in some type of check. In terms of the fees that add up, how does the irs assess it. What am i talking about . There are separate penalties for failing to file on time and failing to pay on time. You might be assessed both of those. You will get the initial assessment that you have to pay and for every month that you are late it goes up. Is it a big number, heavy fine at first or does it go up over time . It can be. Depends on what you owe. Pay a much as you can and if you cant, go to the website, irs. Gov and they have various Payment Options as well and payment plans that you might be able to work out with the irs. They want to work with you. They do want your money but want to work with you to get it. Thank you very much. Sure. Up next on the money, a look at the news for the week ahead. And house hunting is in season but for buyers inventory is tight. When is the best month to list . We havent found something yet so well keep looking. For more on our shore and on our guests, you can go to our website, otmcnbc. Com. And you can follow us on twitter on the money. Heres the stories coming up that may impact your money this week. Big names will be reporting earnings including ibm, goldman sachs, cocacola and verizon. On tuesday we get a report on real estate with Housing Starts for march. And new yorkers will be heading to the polls to vote for their democratic president ial candidate in that states primary. On wednesday, we will be getting last months existing home sales numbers. It also marks the sixth anniversary of bps oil spill in the gulf of mexico. Happy birthday, queen elizabeth. Her Royal Highness will be celebrating her 90th birthday. Spring has sprung and that means the Housing Market should be heating up. Is april still the best month to sell your home . And what exactly is the best day to list it . Our diana olick has some answers. Reporter the Cherry Blossoms are out. They stuck a couple of bricks in there. Reporter and so are the home buyers like Matthew Williams hamilton. I noticed it picked up a lot in the last month. I think it will get more competitive through the spring. But in todays unique market, some of the rules are changing. I think march is the new april. It used to be april. But now with the weather is changing we have had a lot of people out. Reporter house hunting is in season but as a seller, which is the best month to list. Right now it is early may. The reason is because inventory being so tight, a lot of home buyers have to put in multiple offers and extending the length of the home buying season. There are 9 fewer homes for sale this season compared to last year according to zillow, and as fast as listings come on, they come off just as quickly. Homes listed in may will sell 18 days faster and for 1 more than the average listing. Locally the timing shifts. If you are in new york, chicago, philadelphia or l. A. , early may is good. But if youre in atlanta, miami or d. C. , better to list in april. For san diego and st. Louis, march is the sweet spot. No matter the timing, most buyers this spring will face stiff competition wherever they are. Every thursday and friday there will be four or five more coming on the market. And so thats nice but theres a lot more buyers. You expect to get in to a bidding war on this one . I expect so, yes. Reporter higher prices are clearly in store this spring no matter the month. As for what the best day is to list your home, thursday. Thats when the most potential buyers are out trolling the websites and planning their weekend of house hunting. Becky . Diana, i always thought spring was the best time because it is everything looks the prettiest t looks the nicest, but then you also have kids getting ready, parents want to get in before the next school year starts. Whats the biggest factor . It is a factor of all of them, becky. What you are seeing is of course the beautiful flowers. Youre seeing warmer weather where people want to be out. The biggest factor, as you said, is the kids. You want to get the us house so you want to get into a new house and get set and settled before september. How much of a difference does an open house make . That is a big debate right now. A lot of folks say you want everybody to come through the house. You want to be able to open it up and show off your house, especially if it is well staged. But a lot of folks now are saying, its a competitive market. Why should i open my house up to just anyone when there are so few listings right now and so many potential buyers. Why not make them make an appointment so i dont have to open my house to the entire world. Definitely a sellers market at this point. Diana thank you very much. Thats the show for today. Im becky quick. Thank you for joining me. Next week, how safe is your water . After the toxic lead contamination in flint, michigan, what you need to know about your tap water. Each week, keep it right here. Were on the money. Have a great one. Ill see you next weekend. Cathys gotten used to the smell of lingering garbage. In her kitchen yup, shes gone noseblind. She thinks it smells fine, but her guests smell this. Ding, flies, meow febreze air effects heavy duty has up to. Two times the odoreliminating power to. Remove odors youve done noseblind to [inhales] mmm. Use febreze air effects, till its fresh and try febreze small spaces. To continuously eliminate up to two times the odors. For 30 days febreze small spaces and air effects, two more ways. [inhale exhale mnemonic] to breathe happy. Were live at the Nasdaq Market site on this sunny afternoon. The guys are getting ready. While theyre doing that, heres whats coming up on the show. Have you guys heard when a guy asks you to netflix and chill . We sure have, but a key test looms next week for the streaming giant. Well tell you what it is and how you can profit. And that was cheesy, but its exactly what traders are betting one dow component will do next week. We have the name and how to play i it. Here he goes, streaking
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