There’s no doubt that there’s been a tremendous amount of spillover of value to old media from new technology. Billboards, bus stop ads, subway ads, etc.
Yesterday, Zen99, a company that provides information for so-called “1099 workers,” released a study of Craigslist’s effects on the on-demand economy (and vice versa). The study scraped Craigslist for listings posted by the largest on-demand companies in Silicon Valley on a random day in March, in 10 major U.S. cities including New York, Los Angeles, and San Francisco. The findings were staggering.
According to Zen99’s estimates, Uber, Lyft, Instacart, and Postmates will spend a combined $8 million annually just on Craigslist ads. (Most Craigslist postings are free, but the site charges companies $25 per listing for jobs posted in major U.S. cities.) On March 15 alone, Zen99 estimates that Uber spent $7,225 to place driver ads on Craigslist—which isn’t surprising, considering how many listings a cursory search of San Francisco’s site turned up.