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America's startup boom around remote work and technology is still going strong
Four years ago, Americans began creating new businesses at a record rate. The boom is still here, and it could be a great sign for the U.S. economy.
toggle caption Prostock-Studio/Getty Images/iStockphoto Back in 2020, when the world was navigating the hellscape of the COVID-19 pandemic, economist John Haltiwanger discovered something really strange happening in the U.S. economy: Americans were creating new businesses at a record rate. And, Haltiwanger says, this boom could be a sign that something fantastic is about to happen to the American economy: a long-awaited boost in productivity growth, which is the magic sauce for making society richer. Sure, remote and hybrid work is a revolutionary change for a large fraction of the workforce, but the business boom it has fed could be seen as mostly just a geographic reshuffling of economic activity.
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