My big question for 2021, and the one that is on every startup's mind, is what will a catastrophic event like a global pandemic in post-pandemic innovation look like? I think we're in the first innings to see what "aha moments" have materialized in the companies. And we won't know the true impact of the pandemic on our psyche until the dust settles and we have the opportunity to reflect.
We know it will be fascinating to watch. In 2020, innovators and investors were forced to stand still and witness cracks, fractures and rubble in society in a way like never before. It's been a humbling year that, for much of the tech community, has mostly been spent in, out, and alone.
One reaction I've noticed so far - which isn't necessarily new but has a new weight - is a race for innovation that focuses on reducing friction. Take trends like rising construction in public or splitting venture capital. Or the shift of remote work from enabling communication to the need to enable passive and active collaboration. Apply the same idea to mental health, education and fitness. Heck, we're also seeing people taking the Y Combinator format and applying it to everything that makes sense, from helping traders turn into investors to helping employees try to turn their side jobs into a full-time business.
While these movements did not start due to the coronavirus, they all seem to have a huge asterisk the size of a pandemic next to them.
It would be easy to dismiss these movements as small and irrelevant. But, as my colleague and fellow co-host of Equity Danny Crichton pointed out this week, "sometimes the biggest changes in businesses and startups, more generally, come from lowering that last bit of friction to action".
Reducing friction seems to be the mantra we must all enter 2021 with.
I already have hope that the innovation is coming from a more diverse group of people, be it a hacker house for college women or a student-founded service that matches college students with nonprofits. So, as we enter the new year - and bring me here - I urge you to be optimistic.
The last year in technology hasn't left people exhausted and hopeless, it has left them energized and ready.
Will the second time be the charm of Qualtrics?
when LYMPH he announced it Qualtrics was taking place in July, the moment of the full turn blew the Equity podcast troupe to our microphones asking why. Now, months later, there's a new S-1 archive and more to color. Alex Wilhelm analyzed the numbers of the Utah-based unicorn, noting it's the second time Qualtrics has filed the claim.
Will this be the second time the charm Qualtrics needs to go public this time around? I'll let you make the call yourself once Alex's analysis of the valuation and financials is done.
Miami, Substack and Clubhouse
If those three words in one step elicit a certain reaction from you, Danny Crichton has a bone to choose with you. This week he wrote a piece on the cynicism of technology around something new, pointing out how You love mefuture as a technology hub, SubstackThe future to replace traditional journalism, e Clubhouse The future as a social media revolutionary has been criticized as expected.
The cynicism of instant perfection is one of the strange dynamics of startups in 2020. There is this expectation that a startup, with one or a few founders and a couple of employees, will somehow build a perfect product on day one that mitigates any potential problems. even before it becomes. Perhaps these startups are becoming popular too soon and the people who understand the initial product are being absorbed by the broader masses who don't understand the evolution of the products?Danny's argument is to give these companies a little more grace to realize a vision that they themselves aren't even close to scratching the surface. When it comes to keeping specific decision makers and companies to a certain standard, I prefer a more fluid conversation. But I agree that canceling a business because it didn't do everything right from the start can hurt progress. It's easy to be grumpy, but why not choose to be optimistic? Tell me your optimistic bets by replying to this newsletter or by writing me on Twitter @nmasc_.
And some good news
Speaking of moments of humility and optimism, ours Sarah Perez wrote a piece this week on EarlyBird, an app that allows families and friends to donate investments to children. While Acorns and Stash have similar offerings, Earlybird is bringing a new UX game to financial literacy, freedom, and education. There's still a lot of work to be done, obstacles to tackle, and giant unicorns to compete with. EarlyBird, however, is only a few weeks old so there's a lot to watch out for.
VP Caleb Frankel, now COO of EarlyBird, explained the first inspiration:
"It all started with a problem I experienced years ago when my beautiful granddaughter was born. I found myself spending hundreds and hundreds of dollars on just the most ridiculous things - basically just junk gifts, "she says." I wanted to have a bigger impact on her life and something she could really use when she grew up. "
Around ProWellTech
Will you attend CES 2021? ProWellTech wants to meet your startup
Gift Guide: Last-minute subscriptions to keep gifts going all year round
For the whole week
Seen on Extra CrunchHow AI will be used in 2021
On the diversity front, 2020 could prove to be a turning point
The 2020 boom in technology SPACs for the climate
2021 will be a calmer year for semiconductors and chips (except for Intel)
Understanding Europe's great push to rewrite the digital regulation
Seen on ProWellTechChina establishes a "rectification" plan for Jack Ma Ant's fintech empire
NSO used location data from real people to showcase its contact-tracking technology, the researchers say
India's slow 2020 told through dollars and cents
A serious review of a robotic cat pillow
The Equity pod put together an episode of predictions for 2021 (with Chris Gates, our producer, also making a microphone appearance!). Let's talk about IPO candidates, San Francisco and the future of drugs.
2020 brought several million downloads to the podcast and we are very grateful to all of you for tuning in. This year is going to be even bigger, better, and hey, maybe we'll even make fun of each other. person too.
Until next week
Natasha Mascarenhas
