We're back to zero for the year!
Just two months ago, things were looking bleak.
But today we’re right back to where we started at the beginning of the year and a lot of opportunity left in 2020.
Just look at this chart of the S&P 500 since the beginning of the year.
Businesses are opening back up and employees are heading back into work.
But, that’s not the case for everyone.
Many office workers continued on business as usual with employees working at home through the entire pandemic. Some business owners are realizing that their employees are just as productive or even more productive at home. Why even go back into the office?
It’s a decision that could save businesses tens of thousands of dollars every month depending on office size. It also opens a company’s potential hiring pool. If you’re not worried about the physical location of your staff, you can hire anywhere in the world.
The landscape of office work is changing quickly and drastically. But there is a casualty – employee perks.
With staff spread out all over the world, it makes it hard to have happy hours or breakfast with the monthly staff meetings. This leaves it to employers to think about new perks that are relevant to remote workers.
Being thrust into the remote work world unexpectedly meant that few of these employees had home office setups. With spouses and children roaming the house, it’s hard to find a moment of peace.
A Solution For Everyone
The solution to the problems for both the employee and the employer? Offering employees subscription access to meditation and mindfulness apps.
In 2019, the top ten highest-grossing meditation apps brought in $195 million. That’s up 52% compared to the previous year.
Calm, Headspace, and Insight Timer are three of the most well-known. Calm and Headspace frequently claim spots in the top 5 downloaded Heath and Fitness apps on Apple’s iOS app store.
With all the turmoil of 2020, these apps are just getting more popular. Especially if employers are willing to pay for it.
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Yoga studios and meditation centers are slowly but surely opening back up. If you’ve gotten into the habit of meditating in the comfort of your own home, there’s no need to change your routine.
Even if employees go back into the office, meditation has been proven to decrease healthcare-related costs. This can equate to thousands or more saved in insurance costs.
This shift is still emerging and these companies are not publically traded yet.
It's still early and these companies will likely be raising money in a new round soon.
This is where we will want to see how much and who's part of the raises.
With the way this industry is exploding, it’s only a matter of time one of these files to go public.
The pandemic has shaken companies that might have been willing to take the risk going public. The number of IPOs for 2020 has been the lowest than any of the past four years. But that pattern is turning judging by the numbers for the first week in June.
As I pointed out above, the S&P has returned back to it’s beginning of the year level. Bullish fever is in the air. Investors are ready to continue throwing their money at the market.
I highly recommend that you keep an eye on this tech trend, especially the three that I mentioned above. This industry is going to continue to rake in money. I suspect that Calm, Headspace, or Insight Timer will pull ahead and be the next "Facebook". It will come installed on every phone and everyone and their mother will have an account.