The recipient of a bachelor’s in accounting from Miami University in Oxford, Ohio, Theodore "Ted" Catino is an entrepreneur with decades of experience. Ted Catino's latest venture is GigSmart, a mobile application that helps employers and employees better navigate the ever-expanding gig economy.
A recent study from Emergent Research and Intuit projected that by 2021, some 9.2 million Americans will have jobs in the gig economy, the name given to the employment sector encompassing on-demand freelance work obtained through companies like Uber, Airbnb, and TaskRabbit. As of 2016, an estimated 3.9 million Americans were gig workers, and that number is projected to rise steadily over the next five years. By the end of 2017, as many as 4.8 million Americans will have some form of gig employment, which is greater than the number of people who work in the information sector and only 2 million fewer than the amount of workers in construction.
The rapid rise of the gig economy has helped businesses such as Intuit, which produces TurboTax and QuickBooks. On May 24, the company's stock reached an all-time high thanks to an increasing number of freelance workers requiring the use of its services.
The recipient of a bachelor of science degree in accounting from Miami University, Theodore "Ted" Catino is an entrepreneur who founded Specialty Auto Finance Company and is a founding partner of Boston's 625 Investments, LLC. Ted Catino's latest venture is GigSmart, a mobile application which connects employers with individuals seeking short-term, flexible employment.
According to Intuit, the company which owns TurboTax, gig workers comprise roughly 34 percent of the United States workforce. Additionally, the company predicts that, by 2020, gig workers will make up 43 percent of the economy. Referencing the growing number of freelance workers within the transportation industry, the company's CEO, Brad Smith, believes self-employed work has increased opportunity in other industries as well.
Data from a joint study between Intuit and Emergent Research shows that, led by online enterprises, there are nearly four million conventional gig workers in the country. That number is expected to rise to 7.7 million by 2020, although it is difficult to determine how many workers use gig employment as a full-time job as opposed to a part-time way to generate supplemental income. Official numbers are expected to be released by the US Labor Department in 2018.
Theodore "Ted" Catino is a Cincinnati-based entrepreneur who recently co-founded the job-connecting mobile application GigSmart. Outside of his professional endeavors, Ted Catino is an avid fan of the National Football League's (NFL) Cincinnati Bengals.
The Bengals filled a major need at the 2017 NFL Draft with the ninth overall selection of wide receiver John Ross. Cincinnati only had three players with over 500 receiving yards last season, while only A.J. Green averaged over 55 yards receiving per game. Ross, meanwhile, recorded the third most touchdowns in the entire NCAA last season and finished second in the Pac-12 conference in receiving yards.
Ross spent four seasons at the University of Washington but missed the entire 2015 campaign due to an ACL injury. However, he returned healthy for his senior season in 2016 and recorded 17 touchdowns on 81 pass receptions. A dual-threat receiver, he also carried the ball eight times for 102 yards and scored four kick-return touchdowns. At the NFL combine, Ross completed the 40-yard dash in a record time of 4.22 seconds.
Three years later, they bought out the investor and established lines of credit for $500,000. This amount grew over 25 years to some $300 million. The company eventually built ties with several thousand dealers in 30 states and hired 125 employees.