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Well-being: Work tech’s next big market

There is a major story in work tech right now:

Well-being is going to be yuge.

Why? That’s what Bret wanted to find out. He sat down with Vic Strecher and Eric Zimmerman of Kumanu, a well-being company focused on performance, to understand the big drivers behind this category.

Eric argues that since religion and other purpose-driven institutions are on the decline, many employees are seeking that same fulfillment or meaning making at work. “That is a business driver in a very literal way,” he concluded.

Bret pointed back to 2008 as the archetypal framework for what’s driving the well-being trend. During and after the Great Financial Crisis, work tech actually grew 13%, mainly because everyone needs work tech solutions, regardless of the economic environment. This fueled Bret’s famous LinkedIn article criticizing Sequoia Capital. Similarly, everyone needs mental health and well-being solutions.

In one of the most important arguments of the hour-long conversation, Vic Strecher, Kumanu’s CEO, said that “purpose is everything right now.” Think about the stress and anxiety employees (and business leaders) have faced over the last few months.

Bret asked, “Is well-being more important now than ever before?”

“It’s hard to argue it isn’t,” Eric said.

We quite agree. Let’s see what’s ahead of us as we venture into the now normal.

Watch the full conversation between Bret, Vic, and Eric.