As workers leave their day jobs, many are turning to the “passion economy” to fulfill their purpose. Li Jin, a venture capitalist, coined the phrase to describe the phenomenon of white-collar workers leaving their corporate roles in pursuit of entrepreneurial projects. She told Fortune that workers are “desiring to be on their own terms and work autonomously and independently.”
The phenomenon is mostly prevalent among the affluent who can afford to quit their jobs with a financial safety net in place. Stable health insurance, savings and connections are critical factors for being able to work on passion projects full time.
“Too many people think idealistically that quitting your corporate jobs is all sunshine and rainbows but the reality is that it’s 10 times harder and you will work longer hours for less money,” Kelsey Willock told Fortune. She recently quit her job at Goldman Sachs to launch her own financial advice startup.
However, in today’s so-called “worker’s economy,” some see a 9-to-5 job as easy to procure again if their projects don’t succeed, so quitting doesn’t seem like such a risk.
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