Companies Must Adapt Quickly To A COVID-19 Economy
Those moving quickly are already weathering the initial stages of the crisis
The U.S. government is currently planning for the coronavirus pandemic to last at least 18 months. We have no choice but to change. The social distancing, fears over shortages and the dread of contracting the illness do not appear to be going anywhere anytime soon. Those who adapt sooner will survive and, more importantly, lead the recovery.
Telecommunications tech company Zoom, previously a respected but relatively niche brand, has become a legend overnight. Amazon is looking to hire 100,000 workers as folks order goods online. The internet is buckling under the weight of Netflix binge watching.
Our times illustrate the wisdom dropped recently by Benchmark Capital’s Chetan Puttagunta in a podcast. Puttagunta noted how businesses that invest smartly in online distribution and automation are now the best prepared for, and therefore making the most initial headway in the new coronavirus economy. Businesses that have products that are fast to launch, easy to use and provide value quickly are already weathering the initial stages of the crisis.
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