If you have been following along with past episodes, I am currently down 60% on NIO and down 20% on Poshmark. I still have plenty of time before expiration on those previous leaps, so I am not worried. The risk to reward can allow me to pay for many losing investments if they happen.

So the next leap I have added to my portfolio is **drum roll**.....(UPWK) Upwork!!

Let me briefly discuss why I chose Upwork as my next leap pick. Many of you may know that I am involved in the outsourcing industry and, very recently, Upwork announced they were going public, and it is a $4 billion dollar company. In my opinion, Upwork is currently at a discount and here are the reasons I love it.

$1.3 Trillion Dollar Opportunity

With the COVID-19 pandemic, more and more people are working remotely. This is great news for freelancers, as there is an increasing demand for their services. According to Upwork, the average freelance income is around $6,000. This means that the potential freelancer market size is $1.3 trillion.

Provides Job Opportunities Around the World

I love how the company gives individuals around the world opportunities to create an income for themselves and allows customers to receive quick products or long-term employees for their business.

Saves Companies Time, Money, and Finds Talent

 Freelance work is becoming more and more popular, especially among businesses. Upwork allows major companies to hire in three days on average using Upwork Enterprise instead of the 16 days. The fill rate for these positions is also much higher at 85% than 40%.  

Only Company Delivering Services and Hiring 

1.3 trillion is the number of dollars currently at stake in the freelancing marketplace, and it's growing fast.

As we talked about on stage, there's a race to capture that market, and here are the companies that are competing with Upwork—and why we're uniquely positioned to beat them all:

First off, you have Fiverr. Fiverr is a great platform, and I love it, but it doesn't provide the ability to hire a quality freelancer for long-term projects. It would take years for Fiverr to develop this ability, find quality talent, and connect with major corporations.

Upwork is the only company positioned to hire worldwide talent for significant companies for long or short-term work and get into the service industry with one-off projects like Fiverr.

Conclusion

Upwork.com is a company that has been around for nearly two decades and seems to be uniquely positioned to succeed in the future of work, as more people become freelancers or choose not to join large companies with long hours. Their recent IPO has shown continued growth even when other major tech stocks are plummeting due to uncertainty about how fast technology is changing our world. With all that being said, I will be buying leap options on this NOW. 

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