Technology is enabling companies to focus on “the cool stuff again” and grow without hiring more people, tech investor Byron Deeter has said.
Deeter agreed when British venture capitalist Harry Stebbings asked him in a recent episode of the “20VC” podcast whether a tightening labor market is linked to companies embracing tech to become more efficient.
“I love the statements these executives are making, which is ‘we’re going to give you all the tools in the world to supercharge your daily job so that you’re doing the cool stuff again,'” Deeter, a partner at venture capitalist firm Bessemer Venture Partners, said.
Deeter added that C-suite executives have been telling investors and customers that they can “grow the business,” but they “don’t need to grow the workforce to do it.”
“I think we’re going to see the era of the micro business,” said Deeter, whose portfolio includes Anthropic, Canva, and DocuSign. “I think that we’re going to have, you know, 10-person companies that are crossing billion-dollar valuations.”
“I think that is great for the economy,” Deeter added.
Tech solutions are very proficient in addressing software, hardware, and services budgets, he said, adding that they have helped to supercharge people doing administrative work in the legal, medical, and accounting sectors.
“We’re taking away a lot of the manual transcription and summarization, and error-prone, laborious processes, and we’re freeing them up,” Deeter said.
Improvements in productivity tools come as several Big Tech giants have announced layoffs so far this year. In January, Meta said it would let go of 5% of its workforce in an attempt to “move out low-performers,” according to an internal memo. Microsoft has led multiple rounds of job cuts in 2025, including a July announcement that 9,000 roles would be terminated.
