Cashing Out of the American Dream
“My business has been completely decimated because of the pandemic,” says today’s featured contributor.
“I had a thriving event company, and because of shutdowns and restrictions on social distancing, I’ve lost 90% of my corporate clients for fear of litigation. I’ve had to close my doors and lay off everyone.
“Again, I ask what gives the government the right to tell little mom and pop shops they have to shutter their doors and lose the most basic tenet of the American dream? Work hard, pay your taxes and maybe you’ll have a better life than your folks and leave something for your kids.
“That’s all gone out the window now! Never before in the history of this country have we shut down the entire middle class’ ability to earn a living and feed their families.
“What will I do now? New normal? You can keep it… I’m cashing out.”
My heart is heavy for our reader. It definitely seems as if the American Dream is on its last legs, but we can’t forget Americans — with tremendous grit and determination — have overcome other obstacles in our shared history.
We’re pulling for you, reader! Hang in there, and let’s get through this together… Share your ideas, and how you’re making it through these difficult days.
And since we’re in this together, any ideas for how our reader’s business can adapt and stay afloat?
Send your opinions to, TheRundownFeedback@SevenFigurePublishing.com.
Your Rundown for Monday, Sept. 14, 2020…
Not Slowing Down…
“Venture funds are raising more than ever in 2020,” says an article at Crunchbase, “and spending at a pretty good clip, too. That’s a contrast from the financial crisis of 2008, when fundraising to venture firms slowed down significantly.”
Instead in 2020: “The framing of a global recession this time around is very different… Many of the most prominent venture firms are raising record funds despite a historic downturn.”
To that point, the article looks at 18 of the most active VC funds, and the number of new deals with novel startups…
Crunchbase says: “Technology is broadly seen as a way to manage and exit this crisis, with many tech companies experiencing growth through the shift to remote work and online learning.”
That’s certainly true for the busiest “large venture fund this year… Accel.” The American-based venture capital company has invested in 22 new startups in the first six months of 2020, not to mention new rounds of funding for 45 companies already part of Accel’s portfolio.
So what technologies is Accel investing in? According to Accel partner Steve Loughlin, “AI, collaboration and SaaS (software as a service) companies.”
(The Rundown will highlight some up-and-coming tech plays in future — particularly as the tech trade is game on again.)
“New investments represent optimism for the future of these companies,” Crunchbase concludes.
Market Rundown for Monday, Sept. 14, 2020
S&P 500 futures are up 41 points to 3,382.
Oil’s down 1.1% to $36.92 for a barrel of WTI.
Gold’s on a tear — up $17.30 to $1,965.70 per ounce.
Bitcoin is up almost 3% to $10,627.04.
Send your comments and questions to, TheRundownFeedback@SevenFigurePublishing.com.
Keep your chin up… We’ll be back Wednesday.
For the Rundown,