Recode Decode: Linda McMahon, U.S. Small Business Administrator (Live at Code 2018)

Tech Responsibility

The debate over the tech industry's responsibility in addressing societal impacts, such as job displacement, is a pressing issue. Nilay Patel highlights concerns about innovations like self-driving technology, which could eliminate many small jobs and businesses, impacting society at large 1. Linda McMahon argues that government programs, such as those managed by the Small Business Administration (SBA), play a crucial role in supporting innovation and tech development, ensuring that small businesses can commercialize new technologies 1.

It's those dollars that are going to small businesses.

--- Linda McMahon

She believes that while the government should aid innovation, tech companies must also contribute by retraining their workforce and forming partnerships with educational institutions 2.

   

Business Trends

Business formation trends have shifted significantly, with a notable decline in new startups compared to previous decades. Linda McMahon attributes this change to a newfound optimism among small businesses, spurred by tax cuts and a focus on developing a skilled workforce 3. She emphasizes the importance of government and private sector partnerships in reskilling workers displaced by technological advancements 4.

We have to make sure that we as jobs are displaced by that increased technology, that we are reskilling and retraining that workforce to take different paths.

--- Linda McMahon

This approach aims to foster growth and sustainability in the business landscape, ensuring that new opportunities arise despite challenges 3.