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The number of people working at firms that are 1 or 2 years old has halved since the 1970s -Jeremy Grantham of GMO Lots of push/pull reasons for this. Not as simple as saying "entrepreneurship has fallen". One example would be the end of the need for local (mom-and-pop) stores.
Highly recommend. I'm a big Jeremy Grantham fan. I'm 40% of the way through and it's great. Grantham was really on form this time too. He was feeling himself.https://twitter.com/patrick_oshag/status/1270317597595222018 …
Finished it and I recommend it once again. When asked: “what you recommend someone in their 20s do if they were interested in investing?” “Go into venture capital! Private equity is just moving shares around.” I don’t have Jeremy’s chops but I agree. Do it. Better the world.
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