Shutterstock has evolved from an image-based marketplace for small businesses to a much broader platform, with a large and expanding addressable market opportunity.
No one cares how valuable your product is if its addressable market is small. The key isn't so much the number of users as it is the dollar size of the market.
Shutterstock's ability to cultivate a healthy and expanding marketplace for both customers and contributors remains a key competitive advantage and a crucial component of our sustained growth.
Software is eating the financial services industry. We have a large addressable market for PayPal to play in.
Because of the Internet's open platform, entrepreneurs have started small businesses, innovators have created online services, and webcasters have produced a diversity of news-information sources. We must make sure that winners and losers are decided by the marketplace and not your Internet service provider.
Small business is crucial. I think we talk so much about large businesses, they're well represented; they talk well for themselves. But most people work for small businesses; most wealth that stays in a community gets generated from them.
We need to see many more people starting businesses and becoming their own boss, but the squeezed middle exists as much within this group as in the population at large as rising costs are hitting small businesses - who after all are consumers too.
We started CapitalSource because large banks were ignoring small to mid-sized businesses, and we saw a big business opportunity as a result.
The advantage of the consumer businesses is they tend to be much broader-based, much larger number of customers, that tend to over time be a lot more predictable. The advantage of the enterprise companies is they are not as subject to consumer trend, fad, behavior.
Private sector development and the creation of small businesses spur investment, jobs, opportunity, and hope. It empowers the market to meet local needs, whether for food, basic goods, or services.
My own thinking has evolved. You find Africanisms in American speech. You find an African influence on United States culture. There are all kinds of Africanisms in America, as you would expect, if you really thought about it... That whole thing is much broader; the influence is much broader than I first understood.
When it comes to expanding opportunity, businesses and young adults are not the sources of the problem - they are a substantial part of the solution.
The Paycheck Protection Program has been vital to helping our small businesses and workers weather the coronavirus pandemic. Yet this program has operated with little oversight, and we've seen Kansas small businesses owners struggle to access relief while large corporations with deep pockets have no problem.
China is going to be one of Avon's largest market opportunities. It has a large geographic expanse, with hundreds of thousands of women in small villages really striving to make an earnings opportunity for themselves.
As I've traveled around the country, it has surprised me how many times I've heard people in small businesses use that word 'saved.' I believe many small businesses would not have had access to credit and would not have survived without the $50 billion that we were able to put into the market.
I think there is empirical evidence that if you look at family controlled businesses, they actually outperform in terms of results and also valuations, the broader market.
We want market-based, consumer-based reforms in health care. We want to give people incentives to make wise choices in a marketplace, not centralized choices and have government mandates and takeovers.