Recessions have been around as long as there has been value in something to trade. It could even go back as far as when cavemen would trade rocks for women, yes I'm sure it happened lol. If something has a monetary value which can be traded for goods, then there will always be a recession due to the fact that nothing is unlimited. But what about working online, is it possible to his a recession even though we don't work in a single type of currency?
I know that I have clients from all over the world and the exchange rates are different depending on where I'm getting paid from. Obviously I have my set amount for each payment, but when the value of the clients currency drops, does that hurt us or not affect us at all? I've been curios to hear what people think about this because even if one economy is tanking it doesn't mean they all are, and since I work online I can just target a different country or location in order to make sales and keep my own profits up.
Over the years we've all seen our websites go up and down in the rankings but we never really think about how much someone is going to pay for a piece of software, a product or a digital service like SEO and if it's within anyones budget in their country. Obviously if I'm charging $500+ a month for an SEO service I probably won't get many sales from people in India since the conversion rates are pretty crazy. I can pay a VA (virtual assistant) in India $300 a month to work for 8 hours each business day and save a ton of money compared to paying someone in the US $15 an hour to do the same type of work. For this reason we're seeing a lot of jobs lost in the US to overseas companies because we want to outsource for cheaper labor and get the same results. I completely understand this because I have physical products and I source all my materials from overseas because I pay roughly 1/10 of what I would in the US. And let's face it, if I'm buying from a US store they're most likely getting it from overseas anyway lol.
Do you think that there will be more people staring to work online in the near future because of economies taking a plunge do to outsourcing? It's possible that in the US we will see an uptick when it comes to working online, but in turn will that hurt all of our own profits and eventually hit that scary recession button?
It's hard to determine what will happen in the future since any big event can change the entire world, so we can only speculate. I personally think that we aren't as safe as we think because everyone who works online relies on Google too damn much. We do everything we can to please the search engine beast and if Google does end up tanking, we're all screwed. This is one of the only ways I think that we will see an online recession and it's scary to think it could happen. Just remember that there was always a myspace before facebook and now myspace is a huge joke because facebook came out of nowhere and changed the online world lol.
I do think that there is a possibility of an online recession but I think that it will take a lot of screw ups by Google or other major companies all at the same time in order for this to happen. If it does happen, it will be out of nowhere and everything will shutdown just like how skynet took over in terminator lol