IDEAS

Venture capital alone hasn’t funded some of the largest companies. One of today’s most successful tech entrepreneurs was funded by massive infusions of investment from the federal government — Elon Musk received $4.9 billion in public subsidies for his companies, including SpaceX and Tesla.

Four Dynamic Areas of Growth, a first-of-its-kind report that puts the size of the care economy at $648 billion, making it $138 billion larger than the US pharmaceutical industry and larger than the US hotel, car manufacturing, and social networking industries combine.

Dedicated to building the infrastructure to serve the long-overlooked needs of women and working families, Springbank is doubling down on its vision for a more equal future

The nursing shortage is the most visible example of the enormous labor shortages across care economy careers. But the problem is much bigger. Care workers–physicians, home health aides, early childhood care workers, physician assistants, and more–face critical challenges as a result of America’s immense care gap that may soon touch every corner of the American economy.

A divisive political landscape was a defining attribute of 2020 and will continue to be one in 2021. However, one universally agreed-upon issue is the endlessly exhausting toll the pandemic has on caregivers.

How much does caregiving—from childcare to caring for elders—contribute to the U.S. economy? According to a report from Melinda French Gates’ Pivotal Ventures and support from Springbank. It’s $648 billion.