WEBVTT 1 00:00:00.000 --> 00:00:01.740 We did a study last year 2 00:00:01.740 --> 00:00:05.670 where we looked at S&P 500 over a decade. 3 00:00:05.670 --> 00:00:07.110 The 10-Ks that they had filed 4 00:00:07.110 --> 00:00:08.970 and which risks they identified, 5 00:00:08.970 --> 00:00:10.560 and we looked for trends in them. 6 00:00:10.560 --> 00:00:12.720 And the answer is that most of the risks 7 00:00:12.720 --> 00:00:16.710 in the S&P 500 filings are pretty static, except one. 8 00:00:16.710 --> 00:00:19.440 One risk is up 27% in a decade, 9 00:00:19.440 --> 00:00:21.570 and it's public policy risk. 10 00:00:21.570 --> 00:00:23.400 Which means, in a way, 11 00:00:23.400 --> 00:00:24.750 that businesses are more afraid 12 00:00:24.750 --> 00:00:26.910 of their governments than anything else. 13 00:00:26.910 --> 00:00:28.320 So if you think about capital, 14 00:00:28.320 --> 00:00:30.330 and it goes where it's welcome and where it's wanted 15 00:00:30.330 --> 00:00:31.800 and where things are stable, 16 00:00:31.800 --> 00:00:35.040 this uncertainty that governments are producing 17 00:00:35.040 --> 00:00:37.133 is terrible for business. 18 00:00:37.133 --> 00:00:40.170 So what we want the most is certainty, 19 00:00:40.170 --> 00:00:43.080 is an effective government that works 20 00:00:43.080 --> 00:00:47.790 and does only what it must do and does it well. 21 00:00:47.790 --> 00:00:49.530 Particularly small businesses are under 22 00:00:49.530 --> 00:00:51.930 so much wage pressure right now, 23 00:00:51.930 --> 00:00:53.940 and they've been able to keep up for a while, 24 00:00:53.940 --> 00:00:55.080 but it's getting harder. 25 00:00:55.080 --> 00:00:58.327 And so what we hear the most from small businesses is, 26 00:00:58.327 --> 00:01:00.270 "We need more workers," right? 27 00:01:00.270 --> 00:01:03.930 There are 2.7 million job openings for every worker. 28 00:01:03.930 --> 00:01:07.110 So if you can't keep up with the wage pressures, 29 00:01:07.110 --> 00:01:09.480 that worker shortage, hits a small business harder, right? 30 00:01:09.480 --> 00:01:11.040 So one, they need workers. 31 00:01:11.040 --> 00:01:13.590 Two, we're just out of the field with a MetLife survey 32 00:01:13.590 --> 00:01:16.860 that said their biggest concern was cybersecurity 33 00:01:16.860 --> 00:01:19.170 and having the resources and knowledge 34 00:01:19.170 --> 00:01:22.200 to protect their own data and their own business. 35 00:01:22.200 --> 00:01:24.510 So it can be really basic in terms 36 00:01:24.510 --> 00:01:27.810 of how do we get the economy going and inflation tamed, 37 00:01:27.810 --> 00:01:30.600 how do we solve the worker shortage problem, 38 00:01:30.600 --> 00:01:33.060 but also how do we give them more tools and resources. 39 00:01:33.060 --> 00:01:34.950 So we have a website called CO 40 00:01:34.950 --> 00:01:37.080 that had 6.7 million uniques last year, 41 00:01:37.080 --> 00:01:39.480 where we try to feed them this information 42 00:01:39.480 --> 00:01:41.040 on how they can protect themselves. 43 00:01:41.040 --> 00:01:44.430 Local chambers can help, local communities can help, 44 00:01:44.430 --> 00:01:47.460 but I think it's really about, you know, shop small, 45 00:01:47.460 --> 00:01:49.560 and see what resources you have or know, 46 00:01:49.560 --> 00:01:50.520 if you're a big company, 47 00:01:50.520 --> 00:01:52.860 that you can share with your small business vendors, 48 00:01:52.860 --> 00:01:54.453 suppliers, and customers. 49 00:01:55.446 --> 00:01:58.529 (bright music outro)