Made in USA, WFH Dreams & City Violence 🔨

Coronapreneur and The Great Resignation

The term “great resignation” was coined by Anthony Klotz, a Texas A&M University professor who predicts that many people who had hung onto their jobs during the pandemic because of uncertainty are now readying themselves to quit. 4 million people already quit their jobs in June. Throughout the pandemic, workers warmed up to the idea of working for themselves as entrepreneurs or freelancers. The economy knows this. The government knows this. 

In 2020, more than 4.3 million people registered for new business applications, according to the U.S. Census Bureau. Freelancers are projected to make up more than 50% of workers by 2027. And the U.S. government is already working on an ABC test to bring freelancers under labour laws.

City Violence

While, independence and entrepreneurship are the major reasons driving the WFH predilection, there’s also the issue of city violence inhibiting people. Many people don’t want to return to their offices in the city due to rising crime rates and safety concerns. 

President Biden has a new executive order targeted at startups - "Made in America". 

Startups and small businesses account for 44% of U.S. GDP and employ nearly half of all American workers. President Biden’s Executive Order is aimed at boosting local entrepreneurs, especially those were hurt by the pandemic and increasing local manufacturing in a tough challenge to China. 

One, it gives startups access to a large market. The federal government spends close to $600 billion a year on procurement of all kinds of government goods and resources. The order now compels U.S. agencies and contractors to purchase more U.S. made products to help boost American manufacturing. Agencies are supposed to maintain a running database of startups and small business that self-produce and sell any kind of goods - from raw materials to stationery. 

Two, agencies are also encouraged to buy these goods from startups at slightly higher prices to help foster the American producer-based economy. We've seen how difficult it is to compete with the off-shore manufacturers and this is one way to level the playing field. 

Three, the order will close all the unfair loopholes and red tapism inhibiting genuine companies from gaining a made-in-America status faster. 

Companies can now apply for a verified made-in-USA tag on products if more than 50% of their product costs are of American origin. 

What about Big Business? 

There's another executive order to promote the big guys as well. 

The order has 72 provisions supporting

• Agriculture: “Right to repair” laws that allow farmers to repair their own tractors (instead of paying manufacturers exorbitant sums).
• Health care: States to import low-cost prescription drugs from Canada.
• Telecomms: Reinstatement of net neutrality laws that promote better broadband service and price transparency.
• Transportation: Greater scrutiny of airline fees (largely controlled by 4 major US carriers) and maritime transport prices.
• More labor flexibility: Limiting the use of noncompete agreements (which tie employees to employers) and banning “unnecessary” occupational licenses (which are a barrier to work).

• Google is opening a "Startup School" in Mexico - an online training program to teach entrepreneurs about Google Ads, Analytics, Cloud, etc. 
• U.S. Social Security may run out of funds by 2025 with 79% benefits still payable at the time - per official projections by the Social Security Administration. 
• COVID Lambda variant detected in 30 nations in June - transmissibility and vaccine efficacy, here's all you need to know.   
• Summer Olympics - that have already been delayed by a year - to ban spectators from games as Japan declares a state of emergency.  
• Startups globally raised a record $156 billion last quarter, per a new report from CB Insights. 
• An estimated 7 people die every minute from Covid-19, 11 people die per minute from war and hunger - per an Oxfam report. 
• New Google pay debit card lets you directly spend the money people send you - US Android users can apply for the card starting this week. 
• J&J’s Covid-19 vaccine may cause a rare but potentially serious neurological disorder known as Guillain-Barre syndrome - per FDA warning. 
• Elon Musk is facing a trial for using Tesla money to bail out one of his own companies - SolarCity - in a $2.6 billion acquisition.