The purpose of this disclosure is to explain how we make money without charging you for our content.
Our mission is to help people at any stage of life make smart financial decisions through research, reporting, reviews, recommendations, and tools.
Earning your trust is essential to our success, and we believe transparency is critical to creating that trust. To that end, you should know that many or all of the companies featured here are partners who advertise with us.
Our content is free because our partners pay us a referral fee if you click on links or call any of the phone numbers on our site. If you choose to interact with the content on our site, we will likely receive compensation. If you don't, we will not be compensated. Ultimately the choice is yours.
Opinions are our own and our editors and staff writers are instructed to maintain editorial integrity, but compensation along with in-depth research will determine where, how, and in what order they appear on the page.
To find out more about our editorial process and how we make money, click here.
One irony about the rise of the “sharing economy,” known for pioneers like Uber and AirBnb, is that there isn’t really that much sharing going on at all. As the Harvard Business Review has noted, “sharing is a form of social exchange that takes place among people known to each other, without any profit.” That doesn’t sound like Uber, does it? Some have even argued that, by co-opting the term, these enterprises are ruining the very notion of sharing.
But this week saw the U.S. debut of a slightly purer take on the sharing economy: TimeRepublik, a new peer-to-peer skills exchange app wherein the only currency is time. “If you are starting out, starting over, need help with a project in school or help for your business—or just want to build a following doing something you love—TimeRepublik makes it easy to get what you need, giving whatever you have to offer, and being paid in time, not money,” said cofounder Gabriele Donati in an announcement.
While hourly fees on essentially any other platform vary significantly by service, on TimeRepublik, an hour of help from a graphic designer, stylist, tutor, dog-walker, or surf instructor all cost exactly the same: an hour of your time.
On the one hand, that sounds like a bummer of a deal for the IT specialist, whose hour is certainly valued higher in the marketplace than that of the piano instructor.
On the other, TimeRepublik’s model shifts the value of a transaction onto the actual act of sharing and socializing. It’s a utopian take on the sharing economy, in which people theoretically share for the sake of its social value. And it may help fill important gaps in economies that are struggling. According to Fast Company, the service, which already has users in South America and Europe, is currently partnered with University students in Italy, who are “using it while the economy flounders.”
Only (traded) time will tell whether this app has overestimated its American user base’s sharing capacity. In the meantime, you get five free hours for signing up—and I for one could use some cooking lessons.