Go to Freelancer.com and you’ll find hundreds of thousands of freelancers competing for millions of projects.
It’s a free-for-all marketplace, and there is a lot of downward pressure on pricing.
Companies know there will be a lot of people wanting to work on the projects they post, so they can sit back and wait for the right writer at the right price.
In many categories this becomes a race to the bottom, because freelancers know the only way they can compete is to keep their prices low.
One of the categories hit hardest by this downward pressure is content writing. And this pressure to write for peanuts isn’t confined just to sites like Freelancer.com. It’s industry-wide.