Entrepreneurship for All
The pandemic from which we are hopefully, finally emerging yielded an unexpected dividend. Researchers at MIT and Columbia recently confirmed what we all anecdotally felt: Entrepreneurship surged in the age of Covid-19. Change drives opportunity; a temporarily obliterated job market injected motivation. This shift was particularly strong in predominantly Black communities, while women, disproportionately affected by unemployment, yet again proved resilient.
This is a perfect moment, as the world pivots, to try to ensure that everyone has an equal shot at the American Dream. An economic system that demands equal outcomes, as we learned in the 20th century, is doomed; for capitalism to continue to thrive in the 21st century, however, equality of opportunity is paramount.
That’s this issue’s dominant theme.
The Next 1000 (page 90) seeks out those entrepreneurs about to make it versus those who already have. We examine the counterproductive immigration policies that make it hard for the world’s best and brightest to start the next Google or Tesla in America (page 100). And our newest list, the 50 Over 50 (page 62), is already a cultural phenomenon, with more than 10,000 nominations and a weekly segment on MSNBC’s Morning Joe.
The 50 Over 50 resonates because it turns conventional wisdom on its head: Blessed with experience, confident older women represent an enormous national resource. You can see that in the four covers we produced for this issue, showcasing women making a big impact on the world while doing their best work after age 50. Shonda Rhimes is the hottest showrunner in Hollywood; Cathie Wood is the hottest money manager on Wall Street. The RealReal founder Julie Wainwright proves that everyone can have a second act, while Kamala Harris proves the vice presidency isn’t just for white guys.
The vice president’s embrace of entrepreneurship (page 19) will surprise people. If we all do what we can to ensure that everyone has a fair shot, we might be surprised by the economic and societal benefits that result.