The fact that 2020 is coming to a close this week blows my mind. This will be a year that people remember for many to come. I’m not going to dive into a big piece this week because I think this time is better spent with family and friends. I do however want to close out the year with a few things that have been on my mind. Personally, I’ve felt a nonstop barrage of bad news this year and I don’t want to bring in the new year belaboring the bad. Despite seeing business come to a screeching halt, millions of people out of jobs, and thousands of lives lost over a black swan event, we as a nation and as a world have risen to the challenge and truly have so much to look forward to. Here’s another lens to look at these issues this year.
The Changing Face of Jobs
Even in the face of the massive amount of jobs our economy has lost, the technology advancements occurring to enable new jobs is occurring at a rapid rate. I’m particularly impressed with the ability for individuals to harness their creativity and use that to sell physical and intangible goods online. Platforms like Shopify and Stripe are enabling small business owners to create a virtual store and begin taking payments immediately. Etsy is becoming (if they aren’t already) the number one place in the world for people to get their goods in front of millions of people at little to no cost. It has never been easier to start your own business because of the innovation these companies have brought to the world.
I’ve been able to witness firsthand this shift watching my girlfriend launch her own small business this year. She presses flowers and creates custom pieces ranging from wall hangers to wedding bouquets. Her following and relationships built with customers are all built through Instagram, a platform originally meant for photosharing that has quickly become a go-to place for e-commerce. Small business owners are able to find audiences quicker than ever. I believe this is only the beginning of a wave of creative work to come online as more people find ways to do what they love to do and sell it online. Technology is changing the terms for starting a business and for that reason I’m optimistic about the future of small business.
Record-Breaking Vaccine
The other impact we’ve seen this year on the people of our world is the virus itself and the lives lost due to that. While symptoms of this virus may not compare to other pandemics in history, the fear that has been instilled in people is still very real. Personally, I was unsure about the severity of COVID-19 at the beginning. I didn’t have a strong stance on the issue until I was diagnosed. Having contracted the virus and beginning my search for answers left me disheartened and worried for my future. I have since made a full recovery physically, but the unanswered questions and worry have lingered.
I’m encouraged by the fact that as you read this, a vaccine is being distributed around the world to treat COVID-19. Having a vaccine in under a year’s time is almost as big a phenomenon as the virus itself. Never before in history has a vaccine been developed this quickly. What a time that we live in. With the help of technology, the world’s top scientists were able to identify, target, and treat the virus, a process that typically takes 5 to 7 years. Seeing this type of cooperation between pharma companies, governments, and nations to unite under a common cause is miraculous. There are few times our country has come together to fight a single issue, much less every nation in the world. This reminds me that there is strength in putting aside differences to pursue common interests. We should be encouraged that we still have the ability to do that.
Rising from the Ashes
Some truly spectacular feats have occurred this year. Thinking to the future, I look forward to seeing what other events transpired this year we have yet to hear about. Some of the oldest, most successful companies were spawned in a time of economic turmoil. Disney was founded in 1929, which was the beginning of the great depression. Hewlett Packard was formed at the end of a recession in 1939. More recently, companies like Venmo, Instagram, Square, Airbnb, and Uber were all formed during the great financial crisis of 2007-2010. Problems drive people to think and unite to solve problems. This year will be no exception.
My encouragement to you as we close out this year would be to remember that adversity brings opportunity. We should be looking at the things that are in our control and that is the future. The stoic philosopher Marcus Aurelius said “You have power over your mind - not outside events. Realize this and you will find strength.” I do find strength in that and our bright future to come.
Merry Christmas and Happy New Year everyone. I’m thankful for you.
Talk next week
~Brock
Despite your blog being about investing, etc. it is obvious from your words that life, attitudes and other topics come into play and sometimes into clearer focus. The meaning behind the quote at the end was an epiphany for me in 2020. It took too many years for this Type A personality to realize much of life is not in our control and that I need to relax and focus on what is in my realm of influence. It has challenged my thinking and changed my conduct. In the process I have learned that contentment leads to peace and peace to happiness. Maybe in 62 more years I will have more of it figured out!