A new day and age

The Nasdaq is rallying among talks about the stimulus. With the Fed printing money, it appears that nothing can really derail this stock market. Even a contentious presidential election may not be enough to turn the Nasdaq away. And yes, there is still a global pandemic happening right now. I for one am ready for the holidays and for 2021 to be over. It’s going to be crazy Q4.

While discussing COVID-19 among friends, we’re all in agreement that this is a new day and age. My view on the pandemic is that it may seem like new trends were created because of coronavirus, but in reality, what we are seeing is an acceleration of trends that were already in motion.

Remote work and teleconferencing were going to be a staple soon enough. Companies were already trending that way. COVID-19 just accelerated that trend perhaps 10 years forward. People complained about San Francisco and New York and bragged about leaving well before COVID-19. They just now have an ability to keep their high paying job while moving to the suburbs so they’re using the pandemic as an excuse to get out.

One thing we can all agree on is that this is a new day and age that we haven’t seen before. The old heads are ripping their hairs out at the insane valuations on the stock market. Yet again, we are only really touching the surface of what tech is able to accomplish. A 100x revenue multiple is quite insane when compared to other comps, but people are forgetting that these companies are now growing faster than ever before due to the leverage of technology.

It has never been easier to start a company or raise capital. TAMs for businesses and industries are growing at levels never seen before. Globalization is growing… rapidly. There are more “unicorns” than ever before. Perhaps the mark of success will shift from being a unicorn to a decacorn. It may sound insane, but it’s coming faster than you think.