Can the post COVID world address income inequality in supercities?
There are three trends that the a16z report addresses in this respect – albeit from a US lens
#1Supercities and the Workforce — and how it ties to inequality. Think cities such as San Francisco. Or in India – Bangalore.
Think about the impact of geographic concentration of jobs, innovation, and thereby economic growth
#2VentureCapital and Innovation
“In 2020, just three regions — the Bay Area, New York, and Massachusetts — accounted for 70%+ of total venture funding in the U.S.
#3R&D Investments and Impact to productivity
Government spending on public R&D also correlates with the highest wage-earning metropolitan areas
“These R&D investments matter because they enhance productivity, which enables the formation of new (and often higher-wage) jobs.”
“For every 1% increase in productivity, wages for low-skilled workers rise at roughly double the rate of those for high-skilled workers”
Would the post-COVID decoupling pf workforce from location, tech that powers Work 2.0 and R&D investments outside of clustered hubs address economic inequality, innovation, opportunities and productivity?
#COVID#Economics