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Night School, Class 3: Big Tech vs the insurgents
Behind the Money
The Secular Trend Towards Increased Use of Technology
There's been a big surge in new business formation since the COVID pandemic. I think just generally there's a whole secular trend towards increased use of technology. Five billion people in the world have a smartphone increasing amount of commerce is going online, about 20% in the US now. And so I think the secular trend will eventually can outweigh the cyclical downturn.
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