{
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  "docSlug": "93655cead5dff1dd5af39e9e1a16c83f",
  "documentTitle": "Shopify | Investor Presentation Deck | 53 slides",
  "authorId": "shopify",
  "authorName": "Shopify",
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  "sourceTypeSlug": "investor_relations",
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  "presentationDate": "2025-02-01 00:00:00",
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      "kind": "callout",
      "text": "~5M new business formations in the US over each of the last 4 years – a step change in entrepreneurship",
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      "text": "Monthly new business applications (US) from 2016 to 2024, showing a significant increase around 2020, with approximately 5 million new business formations in the US over each of the last 4 years.",
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      "text": "Source: US Census Bureau, Seasonally Adjusted Business Applications (as of December 2024)",
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      "text": "Monthly new business applications (US)",
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      "evidence": "The deck highlights the increase in new business formations and the significance of ecommerce",
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