Posted: 2020-08-17 13:25:49

The Other Digital Divide

From Can Duruk at Margins by Ranjan Roy and Can Duruk
Originally published 2020-08-16
Entire streets worth of small, retail businesses are shutting down their physical locations, but they still need to sell things. So, they turn to Shopify to open an online store. Shopify uses Stripe for payments, which takes a cut. And Stripe runs their servers on Amazon, which again benefits. Shopify is seen as the new darling of the tech Twitter, but if your bet is that they’re going to replace all the promenade streets and shopping malls of the world, they are still woefully undervalued. Same for Stripe, and Amazon.
The divide between Silicon Valley and the rest of the country is wider it has ever been. Half my Twitter is people looking to angel-invest their millions in apps, and the other is reporters documenting the latest lows America has hit. This doesn’t bode well for the country, and will become a political and social flashpoint sooner than later. It surely is not sustainable. If the tech industry wants to enjoy its relative welcome, it should do more. This doesn’t necessarily mean working on pro-social, civic-minded enterprises, but also fighting for policies that can bridge the gap. Even when those policies can mean a haircut here or a trim there. We all need to do more than tweet good wishes and promote our companies here.
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Tags:million of people,market cap,berkshire hathaway,shopify employees,tech industry,patrick collison,good things,amazon,people,silicon valley technologist
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