An interesting read inside....

[chasb]

Didn't notice this posted elsewhere here so thought it might be informative to those interested.
The version I found was a fairly poor transcript, perhaps others can find something better.
Search online using "Upwork Q2 Earnings Call".

And remember folks, I'm just the messenger - not the author.  🙂

[hoyle_editing]

is this what your refering to?

https://investors.upwork.com/investor-relations

[chasb]

---

undefined:

is this what your refering to?

https://investors.upwork.com/investor-relations

---

Don't know for sure, coz the webcast link asks for a sign up.

Anyway, it's the Q&A session that contains the important bits.

[versailles]

---

Chris P wrote:

---

undefined:

is this what your refering to?

https://investors.upwork.com/investor-relations

---

Don't know for sure, coz the webcast link asks for a sign up.

---

You can sign up. It's interesting and has already been discussed in lengths here and on Reddit.

[chasb]

---

Rene K wrote:

---

Chris P wrote:

---

undefined:

is this what your refering to?

https://investors.upwork.com/investor-relations

---

Don't know for sure, coz the webcast link asks for a sign up.

---

You can sign up. It's interesting and has already been discussed in lengths here and on Reddit.

---

If it includes the five or six questions raised after the announcement, then what's your take on it?

[versailles]

I don't remember the questions, but my take is that Upwork's business model is changing and we are already feeling the effects of this change. The gig segment may shrink and the temp agency model allowing Entreprise clients to outsource low qualified workforce in masse may become Upwork's #1 source of revenue.

I'm already clearing my desk...

[chasb]

---

Rene K wrote:

I don't remember the questions, but my take is that Upwork's business model is changing and we are already feeling the effects of this change. The gig segment may shrink and the temp agency model allowing Entreprise clients to outsource low qualified workforce in masse may become Upwork's #1 source of revenue.

I'm already clearing my desk...

---

Yep, I'm with you 100% there apropos temp agency, also low end junk gigs biting the dust. But no complaints about the junk.

Leading us to the pay-to-invite model on the client side composed of companies that tell you what they're offering, as in not accepting bids = not such great payment on a good day and below minimum likely as standard.

Might be my eyes, but I see not a sausage in there for the pro freelancer (as in full-time), except those offering the typical clerical or similar services.

Some exceptions will always apply - but in high quantities, I doubt very much.

[chasb]

Oh, and a US-centric temp agency to boot.

About time we Europeans had our own patch anyway, so maybe this is the time.

[florydev]

---

Rene K wrote:

I don't remember the questions, but my take is that Upwork's business model is changing and we are already feeling the effects of this change. The gig segment may shrink and the temp agency model allowing Entreprise clients to outsource low qualified workforce in masse may become Upwork's #1 source of revenue.

I'm already clearing my desk...

---

Here are the questions:

https://www.fool.com/earnings/call-transcripts/2019/08/08/upwork-inc-upwk-q2-2019-earnings-call-tran...

[chasb]

The new DM system being tested out also comes into sharper focus here.

Enterprise client to high-$$$ pro freelancer: "Dang, we sure do love your dawgon profile here.....y'all think we can do something 'bout them there rates...?"

Apologies if I've got the accent all wrong.

[feed_my_eyes]

"The goal for the Company focusing really on long-term trends is to say, we don't believe that gig work is the future of this business ... We think that the future of this business is not about getting projects of $1,000 at a time, it's going to be about bigger companies that have bigger projects that are more complex, more likely to be done through starting and other types of agencies and it is an example. And so, all of these changes are really designed to make these more professional freelancers, more successful and make the bigger companies more successful in Upwork, which may have, as a result, the impact that we're seeing a little bit more churn in the slightly less professional, less reliable freelancers, as well as some of the smaller companies that struggle to justify the cost."|

Well, that's pretty clear isn't it?