Bigger Than Amazon?
Bigger Than Amazon? by Joseph Hargett – Banyan Hill
I’m not a frequent social media user. Sure, I check Facebook a couple times a day for trending political news and to check up on family and friends. But I’m nowhere near the kind of power user that defines the millennial generation. I am, however, on social media enough to see that one of the bigger trends is to deride millennials for their seemingly whimsical work habits.
The problem isn’t that millennials don’t work — at 92 million strong in the U.S. alone, they are currently the linchpin of the American workforce. The problem is that millennials work differently than any generation that came before. Determined not to have the same nine-to-five drag as their parents, millennials are demanding flexibility in their work schedules and their work locations.
They are the first of the truly mobile workforces. And in the digital technology age, they are global.
If you’ve spent any time at all here at Banyan Hill reading our insightful market commentary, you’ve likely run across Paul Mampilly and his passion for investing in the millennial generation. As Paul puts it, millennials have had “technology such as the Internet, cellphones and smartphones at their fingertips for most of their lives. They have witnessed the globalization of business and economic activity, where information and data are the critical factors.”
It’s no surprise, then, that many of Wall Street’s best and brightest analysts have turned their attention to companies frequented by millennials in both their personal and business lives. But while social media companies such as Facebook and Snap, and online retail and media companies such as Amazon and Netflix, generally steal most of the millennial-themed headlines, there are more than a few overlooked opportunities just waiting in the wings.
And one such company has the potential to outstrip them all.