The Future is...Uncertain
Welcome to the Weekend. It seems like the world is collectively holding it’s breathe as we move towards the end of the month. There is more uncertainty in the air about the future of the economy than a college freshman choosing a major. At least we can all afford to put more than a drop of gas in our vehicles these days. Hopefully you all enjoy a well deserved, restful weeked for the last one of August.
—CN & JB
Company Performance (8/18/22 - 8/25/22)
Petfolk’s $40 million Investment
(Source: GIPHY)
The magic number is 40 for one of the newer kids (veterinary clinics) on the block. Petfolk has raised an impressive $40 million in Series A funding. While much of the funding came from Co-CEO and founder Michael Wystrach of Freshly fame, a number of other firms and celebrities have pitched in to help this multi-facted veterinary clinic see over 40,000 pet this year across 4 states. They state that their goals are to “make it easier for pet parents and veterinarians to be seen and heard with 24/7 virtual and instant care, mobile pet care centers, technology for personal and transparent care plans, a vet-minded employment model, and stress-free designed spaces.” There is still a lot of financial support behind the veterinary industry it seems.
Latest On Research - Retention
(Source: GIPHY)
This weeks research takes an international spin, but is something every veterinary clinic in the world perhaps is facing: why is retention of practitioners so difficult? The most recent study comes from the Emerald Isle and looks at what Irish veterinarians had to say about the issue. What is all boiled down to was 3 main things: current satisfaction with number of working hours (or lack their of), the amount they are being paid, and the perception of a work-life balance. Pretty sure this is what every study has found so far… so maybe there is something to finding a new model of how working hours are structured and being appropriately compensated for the work. Something to think about as this is not only a U.S. issue.
A Dose of Happiness
Ever feel like you are just coasting at work? Well, so does this sheep dog! Expect maybe it would be called surfing in this case…
Did you vote on what to name the newest hippo edition for the Cincinnati Zoo? Well if your vote was for Fritz, then you were one of the lucky “winners”. Still worth clicking on the link and seeing the cute pictures of a baby hippo.
—JB
General Economy Update
(Source: GIPHY)
Revised updates about Q2 GDP came out this week. While still negative, the Real GDP estimate was revised upward slightly to -0.6 from -0.9. A move toward zero in the estimate is the result of continually declining gas prices (70+ straight days of declines!) and supply chains starting to act like they have their lives together. When we look at consumer confidence in the future of the economy though, things seem a bit tougher. Most people don’t expect their incomes to rise anymore, and the expectations on a strong labor market are really just a coin flip. Almost all of the recovery of consumer confidence that was lost during 2020 has been lost again. Talk about uncertainty in one’s future. Think we are all just holding our breath to see what inflation numbers look like next month.
—CN
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