The Reboot Of The Us Economy Will Be Built Around Small Business. The Small Business Reboot Will Be Built On Technology

Last week I had my friend Jeff Richards (GGV Ventures) on my new Zoom show ‘Investing for Profit and Joy’. He had a great riff on many of the stocks and trends he finds interesting but I most loved his take on the reboot of the US Economy.

You can watch it again here.

Today, he dove deeper into the topic in an excellent post.

In short, entrepreneurs aren’t waiting for the economy to “come back” – they are already spotting opportunities and launching new companies. There’s a catch, though. The merchants of the post-C19 economy won’t be building around “Main Street” real estate like their predecessors, at least not until we have more clarity on what the rules of a post-pandemic world look like. Instead, they are building around an SMBTech stack – the SMBTech stack is the new Main St storefront.

Think about it – if you were launching a new restaurant today, would you do so without mobile ordering, pickup and delivery via Slice, Toast, DoorDash or another technology platform? If you were launching a women’s clothing boutique, would you do so without an ecommerce presence on BigCommerce, Shopify, Etsy or Poshmark? Or if you were opening an outdoor gear rental business would you do without a POS system from Square or a web site from Wix? Today in almost every vertical there are SMBTech platforms like Brightwheel and ServiceTitan offering “operating systems” for SMBs. Every single new company formed in every single industry will start with the question of “What technology do I need to launch and grow my business?” This is a trend that started a decade ago and will accelerate at an unprecedented pace over the next 6-12 months.

Have a read.