COVID-19 stimulus has not only been a tremendous deal, but it’s also still a highly pressing matter.
Congress and the administration responded to the economic impact of the coronavirus pandemic with a $2.2-trillion stimulus last March.
It was the largest stimulus package ever adopted and amounts to roughly 10% of the nation’s economic value. And I expect that it won’t be the last one, either.
Make no mistake. This is a very complicated package totaling more than 800 pages.
It provided $500 billion in loans for large firms and $377 billion for small ones. Families received $300 billion in one-time cash payments.
No doubt, this was a godsend to millions of workers and employers alike.
But there’s just one problem – accounting for all that cash flow is no simple matter, but, as the Deloitte accounting service company points out, that record keeping is necessary to see all the benefits of the program.
If a beneficiary business wants to apply for loan forgiveness, they need to be keeping track of where all of that money they received is going.
The term “cloud” in “cloud computing” has always been a metaphor, until now. Traditionally, it refers to the fact that users can access data and applications anywhere in the world via the Web.
Of course, the information has always been coming from here on earth and resided in remote data centers. The idea was to say the world’s wealth of information was so ubiquitous it was like it was streaming down from a cloud.
And now, that image is about to go from metaphor to literal real-life. See, privately held SpaceX is planning to provide civilian and military cloud services by beaming them from low-orbiting satellites.
The project is projected to be able to give internet access to nearly every populated region of the globe in 2021.
Here’s the thing. To accomplish the bold mission, SpaceX has teamed up with one of the world’s top cloud computing firms.
I always say that the road to wealth is paved with tech, and right now, that road is leading straight towards the cloud.
That’s because none other than Nasdaq Inc. (NDAQ), the tech-centric market itself is planning to move all of its market hosting, for all 28 of its markets, to the cloud, as reported by The Wall Street Journal.
It might just be the most poetic example of my investing style that I’ve ever come up with.
And as we’ve seen from the COVID shutdowns, the $350 billion cloud computing sector is central to the modern digital economy. In order to succeed, a company simply must be connected to the cloud throughout almost all of its operations.
With that in mind, it’s no wonder that Technavio predicts that the cloud computing sector will grow by $190.32 billion during the 2019-2023 period. At that rate, it would be set to double in less than a decade.