Innovation Solves Problems

During a recent interview, growth stock investor Cathie Wood remarked that “innovation solves problems”.  That is one of the beauties of investing, entire industries seemingly come out of thin air when the times get tough.  Most recently, the pandemic brought us Zoom Video which is now a $22 billion dollar household name.  Think of Moderna, another pandemic problem solver. And as we come out of an unprecedented economic shutdown that inadvertently is causing a major shortage of workers, witness the lowest unemployment since 1969, Amazon is adding about 1000 robotic “workers” per day.  “That means Amazon could have more robots than employees by the year 2030” continued Wood.  Innovation and savings are the keys to economic growth and it’s hard to bet against the ingenuity that is here at home and around the world.