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RE: Will gig economy ever replace traditional economy?
I think you will be surprised, a lot of people make the switch to freelancing/sole trader (self-employed) and find out they make more money.
This is because there is no ceiling on their income and they might be more motivated to work for themselves, a lot of people dislike working for under someone and resent being given orders.
There are arguments for both sides and I understand the worry about the potential loss of security of earnings.
Do not be afraid of failure, and take on new challenges with aplomb.
Indeed. I also know friends who are full time freelancers/traders. One important factor for them to be successful is self-discipline. If there's a lack of self-discipline, it is going to be difficult not to let laziness set in.