The Shine Fades on Tech Giants and the 99% Gets Brighter: An Outlook for the 2020s
Silicon Valley must be feeling very seen right now
More tech giants will likely crumble pre-IPO
The 2019 trend of watching WeWork and other expensive tech giants falter is likely to continue. Investors are seemingly growing weary of blindly throwing cash at companies that promise flighty values and boast a showboat CEO; they’re slowly pulling back their money. The trend of investors actually performing real due diligence and more closely examining inner company workings can be expected to continue into the early 2020s. It’s been good for business as well as a sobering wake up call for the market amidst continued chatter of a looming recession. This positive trend can be expected to tremendously benefit the entire financial community. Hopefully it continues.
*Financial literacy intensifies*
One ill-benefit of the growing wealth inequality divide, crushing student loan debts and stagnant wages has been an increasing cultural acceptance of frugality. Staying in has become trendy and money is a normal topic to discuss over dinner nowadays. As money forced its way onto our cultural radar, resources are starting to become available for people curious about educating themselves, financially. Unfortunately our educational systems generally fail to address important topics such as income tax, investing, and basic budgeting.
Luckily, Google is free and online information gives more people opportunities to seek financial knowledge and empower themselves to build a wealthier future. Getting smart about money is always an excellent idea, whatever the impetus might be. As online investing becomes more prevalent and fintech becomes increasingly sophisticated, the greater push for financial literacy among the 99% is predicted to become mainstream. Millennials are practical and tech savvy. They’ll seek more financial knowledge in 2020 and beyond, especially as areas like crowdfunding expand.
Legalization will bolster innovation
The US is a sleeping giant of weed, waiting to be legalized, and possibly worth up to $100 billion in sales. Nevada is poised to take the top prize in cannabis spending because of tourism, but the industry seems expected to enrich just about every state across the country, once legalized. Given the number of new jobs and ancillary markets that will spring up in this flourishing new industry, cannabis legalization is predicted to add a shot of adrenaline to the US economy. This green industry is likely to be a win for both investors and entrepreneurs well into the 2020s.
The dawn of 2020
Overall, the 99% seems to be facing the normalization of frugality to match the surrounding economic conditions. The need for financial literacy to bridge the knowledge gap for ordinary people will increase, especially if the SEC decides to widen the accredited investor criteria. Currently, unaccredited investors may participate in equity crowdfunding campaigns for example, but not be able to invest in most new, IPO investments on Wall Street. This criteria could potentially change in 2020. And with cannabis ready to become a massive U.S. industry, combined with the focus shifting away from expensive tech giants, the 99% could see a tremendous benefit from these shakeups. There is plenty to get excited about, and it’s all just around the corner.
DigitalAMN (DAMN), a socioeconomic empowerment project that AJENE WATSON, LLC started, is committed to helping the 99% take advantage of these shakeups.