In the show Stranger Things, they refer to their alternative mirror world as the “upside-down.” Because of how strange it’s been, we have been calling our new, post-covid world, the “leap forward.” The metaphorical “leap forward” is to identify how quickly the adoption of innovation and technology has come since last March. Per a recent McKinsey global study, the Covid crisis has accelerated the digitization of businesses by over seven years globally. Seven years in 12 months! What do seven years of acceleration look like?
Let’s look at an abridged version of the last 20 years from some of the most recognizable retail changes. There’s an important reason why we’re looking back -- you know full well that the earliest investors in these innovative companies are reaping whirlwinds right now.
Although it’s commonplace to us now, imagine if I told you in 2000 that the following ideas would be a reality by 2020: Self-driving cars, downloading movies in minutes onto your phone, global social networks that have the power to influence elections, health advancements that you can wear on your wrist, a world developed and managed on the “cloud”, purchasing almost any item by asking Alexa to do so, having the power of a supercomputer in your pocket.
What really gets us amped up when we look at this abridged 20-year timeline is considering what will fill the next 10 years. What themes will play the biggest roles? What companies will benefit? And most importantly, how can we leverage our investment strategies now to take advantage of the inevitable growth these industries are primed for? Some things to keep an eye on:
So, I ask, are you ready for the leap forward? If this sounds as exciting to you as it does to us at Green Ridge Wealth Planning, contact us to schedule a call to see how your investments can become modernized into the new era.
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