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David Solomon outside the Capitol today. Photo: Goldman Sachs

In Washington on Tuesday to meet with small businesses, Goldman Sachs CEO David Solomon told Axios that some of the survival pivots entrepreneurs have made in the past year will last past the pandemic.

What he's saying: "A lot of small businesses have had to make some investment in digitization and technology to connect to their customers more digitally than directly," Solomon said. "Some of that will last and will help their businesses."

Why it matters: Goldman Sachs research has documented how Washington sluggishness has hurt small businesses amid shutdowns and has quantified the rougher road for entrepreneurs who are women and people of color.

The ability to adapt is one of the biggest survival traits: Solomon told me about a business that went from making leather bags to making masks, and he met today with a restaurateur who now basically runs a delivery business.

  • Solomon recently visited a Chick-fil-A where the drive-thru overflowed, but the parking lot had an army of workers taking orders on iPads.

One level deeper ... On additional stimulus, Solomon said: "I think that there's probably a good chance we're going to need more to help us get to the light at the end of the tunnel and get past the pandemic. ... My guess is we'll have to do a little bit more."

  • On the gap between the markets and the real economy: "I do think the recovery just won't be a straight line. I think the markets are pricing in ... everything working perfectly as we come out of this. And I'm sure there'll be bumps along the way."
  • On the Goldman Sachs push for sustainability and inclusive growth, now run globally by Dina Powell McCormick: "There's ... enormous demand from our clients for ideas, capital, thoughts and advice on how they can be transitioning their businesses and participate in a more sustainable society."
  • On involving the private sector more to distribute COVID vaccines: "If the states aren't getting as much vaccine out there as necessary, going to private industry and asking for private industry's help to execute on a vaccine plan might be a way of accelerating our ability to get vaccine into people's arms."
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Go deeper

Coronavirus has inflamed global inequality

Illustration: Aïda Amer/Axios

History will likely remember the pandemic as the "first time since records began that inequality rose in virtually every country on earth at the same time." That's the verdict from Oxfam's inequality report covering the year 2020 — a terrible year that hit the poorest, hardest across the planet.

Why it matters: The world's poorest were already in a race against time, facing down an existential risk in the form of global climate change. The coronavirus pandemic could set global poverty reduction back as much as a full decade, according to the World Bank.

21 hours ago - Health

U.S. surpasses 25 million COVID cases

A mass COVID-19 vaccination site at Dodger Stadium on Jan. 22 in Los Angeles, California. Photo: Mario Tama/Getty Images

The U.S has confirmed more than 25 million coronavirus cases, per Johns Hopkins data updated on Sunday.

The big picture: President Biden has said he expects the country's death toll to exceed 500,000 people by next month, as the rate of deaths due to the virus continues to escalate.

Updated 14 hours ago - World

Mexican President López Obrador tests positive for coronavirus

Mexico's President Andrés Manuel López Obrador during a press conference at National Palace in Mexico City, Mexico, on Wednesday. Photo: Ismael Rosas/Eyepix Group/Barcroft Media via Getty Images

Mexican President Andrés Manuel López Obrador announced Sunday evening that he's tested positive for COVID-19.

Driving the news: López Obrador tweeted that he has mild symptoms and is receiving medical treatment. "As always, I am optimistic," he added. "We will all move forward."