Technology in the age of COVID-19
Most sectors of the economy have been understandably suffering in the aftermath of the coronavirus pandemic. Some may very well not survive the closures and other restrictions that have been imposed on them. But through it all, we have seen technology companies persist throughout this crisis. Much of this, according to Ken Kurson, can be attributed to the innovation that the technology industry has been responsible for over the course of the last decade. It’s almost as if they’ve prepared themselves for a moment when people could not be mobile; could not leave their homes, and needed to restrict their physical and social contact.
Indeed, many states have put social distancing guidelines in effect in order to minimize physical contact between individuals. The idea and motivation behind this has been ensuring that the exposure to any coronavirus is as limited as humanly possible. But it’s also had inevitably damaging effects on our international economic conditions. And not all of these effects will be temporary.
In the meantime however, Ken Kurson believes that the technology sector’s boom is indicative of an understanding among the public of the trajectory the economy is headed toward. When one observes e-commerce platforms for instance like Amazon and AliBaba that have done tremendously well during this pandemic, relative to brick and mortar retail, it’s evident what the future holds for this part of the economy.
The reality is that brick and mortar stores are going to continue being plagued by issues well beyond the end of this pandemic. Besides, how does one go about defining this pandemic’s “end.” Is the discovery of a vaccine truly enough to warrant calling this war on this virus complete? Some would beg to differ. But while people continue litigating and debating the merits of that argument, the technology sector and the companies it is comprised of, will only continue improving in terms of their financial health. There’s no sign of that trend slowing down.