Possibility in a Pandemic

A speaker reviews 500+ applications from Black founders for a $2M pitch competition and discusses how COVID-19 created opportunities to pivot businesses toward in-demand services. They highlight high-impact sectors like climate and racial justice, and note talent moving from coastal cities to the South and inland regions.
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Just this week, I am— I guess I had the privilege, I haven't had much sleep, but reviewing 500+ applications of Black founders for our $2 million pitch competition that with Steve Case and Revolution and Morgan Stanley. And just going through the data, it's incredible to see the ideas and the products and the companies that are coming forth in this pandemic. And so the thing that I'm inspired about, and I said this the other day on Yahoo Finance, and Jessica, you can appreciate this, is the 41% of business owners who might have shut down, the Black business owners, the positive news is that they were already business owners and they know how to build a business. We perhaps can help reposition and refocus them onto solving the problems or providing the services that would be more in demand during this new normal. And so as you look at the business trends, where are people spending their money on the consumption side? In the enterprise world, what type of software solutions are people looking to hack? You know, if you juxtapose climate change, to the political environment and to the racial reckoning that's going on, plus the coronavirus, you got 4 sectors that if you found a problem in that sector and you solved it at scale, you would create a successful business and hopefully multigenerational wealth for yourself. One last point, when you talk about the redistribution of talent, we've been saying this for a while. That there would be something that would happen that would cause a redistribution from the coast back inland. And I think what this pandemic is doing, it's sending people from San Francisco, from New York, from these density centers where you can't spread out and where it's perhaps easier to, you know, to get COVID-19. You know, if you're spread out a little bit more, it might be a little better to navigate. And so you're seeing folks leave these density areas and redistribute themselves back into the middle of the country and into the South. And I think it's a great thing if those cities would reposition themselves to reinvest in the talent that's there to get ready for those companies that may be moving there and maybe hire. And so I see it as a huge opportunity. I mean, even when I think about real estate brokers, if you were focused on certain markets, if you can connect with people in another market, you know, you can then reinvigorate your business. So I think there's a lot of opportunities. I mean, we could hack 2020 all year and look at the problems that have to be solved, and there's gonna be a lot of people that make a lot of money doing it.
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