The Economic Transformation We Are Now In
People don’t want to be Millionaires anymore
The recent pandemic has forced people to think.
Whilst at home with the family or considering life’s choices on your own, many people have concluded that they don’t want or need to be part of the rat race anymore.
People are starting to figure out smarter ways to earn an income and know that they can dedicate more time to acknowledging their own passions and what drives them.
Traveling to and from work for 2 hours or more a day is unnecessary, which basically sucks for most people. Many companies like Apple are still fighting work-from-home or hybrid policies because they would prefer to look over the shoulders of their employees.
Friends living in Sydney and Melbourne, Australia, who have gone back into a full lockdown realize that they can do more from home whilst accomplishing their work, giving them more time to do what they're passionate about.
The pandemic has accelerated the trend of people who want to work on their own terms. People are finding ways to create an income that is driven by their interests versus capital gains. Adam Davidson’s book The Passion Economy covers this well.
Companies are all for market economics and what people are willing to be paid until those same market dynamics don’t suit them anymore. Companies are not interested in market dynamics when they need to pay higher salaries for a workforce unwilling to go back to work for low incomes.
Takeaways
Corporations across the globe have accelerated the need for digital transformation projects across most industries. Ecommerce has grown two to five times faster since the pandemic. Online shopping for groceries or consumer goods is not a fad, and more people than ever are now waiting for a delivery to hit their mailboxes.
People who never considered working from home as a viable option are now at home working. Technology innovation is rapidly accelerating because of the need to work from home, anywhere in the world.
There are more things that people can do from home whilst accomplishing their work which gives them more time to experience life.
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Thank you for reading,
Rick Govic
