New-business formation exploded during the first year of the pandemic. But a paper  from the National Bureau of Economic Research finds that those new businesses were concentrated in Black neighborhoods and that Black Americans were more likely than white Americans to take steps toward entrepreneurship during lockdown. Also on the show today: overcoming fear as a first-time homebuyer, how the pandemic changed city streets and a new company is enabling anyone to buy and lock up pollution permits.

Cheers to making it through this year! Donate today and celebrate the Marketplace way, with our stock market-inspired drink recipes: marketplace.org/donate