Dear Reader,
I’ve been on the road traveling across U.S. cities. And today, I’m coming to you from Philadelphia, Pennsylvania.
Philadelphia, or the City of Brotherly Love, is where our Founding Fathers met, discussed, and formed a new country.
It was there that the Second Continental Congress was held, and where the Declaration of Independence was signed.
Philadelphia also served as the nation’s capital until 1800 and remains one of the most historically significant places in the United States.
Nowadays, the city is bustling with arts, culture, tourism, businesses, educational centers, and more. It’s home to America’s oldest stock exchange, the Philadelphia Stock Exchange (PHLX).
In the past few years, Philly’s technology sector has also been expanding. For instance, the city is investing in organizations and programs that promote technology skills for younger generations.
This aligns perfectly with the emerging technology trend in America. I’ll have more to say on that in my video below… and I’ll suggest one way you can profit from transformative tech, too.
Click on the play button below to watch it, or scroll down to read the transcript.
Regards,
 |
Nomi Prins
Editor, Inside Wall Street with Nomi Prins
TRANSCRIPT
Hi, everyone. Nomi here and greetings from Philadelphia, Pennsylvania… on a beautiful day with lots of birds.
Philly is known as the City of Brotherly Love or the birthplace of America.
And as you might be able to tell from behind me, I am coming to you from Independence Hall.
Both the Declaration of Independence and U.S. Constitution were debated and signed by the Founding Fathers – just inside that brick building.
In fact, George Washington was even appointed commander in chief of the Continental Army there in 1775.
The building is distinguished as a UNESCO World Heritage Site because of its influence on lawmakers around the world, for what it means to freedom and democracy.
And one of Philadelphia’s most distinguished sons, Benjamin Franklin, was a part of crafting the direction of the Constitution and the Declaration of Independence here.
He offered an inventiveness to the American spirit that still exists today. But more on that in just a moment.
You see, as I walk the streets of Philadelphia, Franklin’s name is everywhere here from the Benjamin Franklin Bridge to a street to a parkway. In fact, only a couple of blocks away is where he lived.
The same place the first official congressionally-recognized post office is, and where Franklin became the first postmaster general.
Nomi visits the B. Free Franklin Post Office, which commemorates the establishment of the postal system
For the United States, Ben Franklin was, of course, a statesman, a diplomat, and a political thinker.
But he was so much more than that.
He was a writer, a publisher, a scientist, and an innovator.
In fact, many of the inventions that Franklin developed were revolutionary. They include bifocal eyeglasses, and even one of his more celebrated inventions, the lightning rod.
At the time, churches and tall structures were often struck during lightning storms, and they could send fires spreading across cities and towns. The lightning rod offered a transformational way to prevent electrical fires.
Another one of his inventions, the Franklin Stove, helped against a growing energy crisis by finding a more efficient way to heat colonial homes.
It is that same inventive spirit that businesses are seeking through the tech center today.
According to the Department of Commerce, the value added by the digital economy was $2.41 trillion, or 10.3% of U.S. GDP in 2021.
That is massive.
The U.S. tech market accounts for about 35% of the total world market.
But what’s really exciting is that we’re really only at the start of what I believe the transformative technology sector could be.
And as we focus on profit opportunities in this age of economic distortions, this sector is going to be more and more important.
Yes, the tech sector had a rough 2022, and there are still some bumps ahead.
But there are so many reasons for optimism.
First, as the Fed shifts into Stage 2 of its response to tightening too far – rate neutrality – and even moves to Stage 3, or loosening monetary conditions, the cost of money is going to become cheaper.
And what history has shown us is that the tech sector has benefited from just such pivots.
Second, I see an emerging trend for tech companies that focus on efficiency through innovation.
Areas of tech that could transform by optimizing efficiency are going to benefit, in particular, the real estate, manufacturing, and some of the retail sectors.
That’s because those transitional vanguard industries can use things like artificial intelligence and data-driven supply chain analysis to build digital advancements and to innovate for the future.
For savvy investors looking for an edge, there are several ways to tap into tech’s multisector impact.
The best way to take broad advantage right now of the multisector transformational technology trend that’s building is with the iShares U.S. Tech Breakthrough Multisector ETF – one of my favorites in the space – or TECB.
As Benjamin Franklin once wrote, “Look before, or you’ll find yourself behind.”
Happy investing, and I will talk to you soon.