Sustained Startup Boom in America
America is experiencing a sustained startup boom post-pandemic, with significant growth in new businesses especially in tech startups and AI. This boom could potentially lead to increased productivity growth and economic benefits.
Key Points
- Significant increase in new business creation post-pandemic
- Tech startups and AI are driving the sustained boom
- Potential for long-awaited boost in productivity growth
Pros
- Surge in new businesses is a great sign for job creation, innovation, and productivity growth
- Visible in both single-person businesses and those likely to grow and employ people
- Particularly strong in tech startups and AI, which may lead to significant productivity growth
Cons
- Productivity statistics have been anemic despite the startup boom
- Debate on whether AI will revolutionize business processes and lead to substantial productivity growth