Coronavirus drove businesses into the future

Information technology has played an important role in helping companies adapt to the pandemic

President Trump’s economic adviser, Stephen Moore, argues that giving our children “billions of dollars” in debt is not a nice Christmas present. Economist Steve Moore: “We spend too much money” to improve coronavirus. President Trump’s economic adviser, Stephen Moore, claims that giving our children “billions of dollars” in debt is not a good Christmas present. For many who have gone beyond the digital divide this year, there will be no comeback.

The Covid-19 pandemic has forced millions of Americans to change the physical world to digital in a matter of months. As retailers learn to operate without shops, business people without planes, and workers without offices, much of what started out as a temporary solution is likely to become permanent. According to broker Robert W. Baird & Co., the number of sellers using the Shopify e-commerce platform grew more than 20% between January and June to 1.4 million. The echoes are already evident in everything from the stock market to corporate spending patterns and physical cash cutbacks.

Investors by 2020 have benefited companies in the number, asset-saving business models such as online retailer Carvana Co., Airbnb Inc. and Inc., or fund-providing companies that provide such examples – such as Shopify, Zoom Video Communities Inc. and Microsoft Corp. Businesses are now spending less on office space and transportation, and more on cloud computing, software collaboration and logistics.

In many ways, the figures are a simplicity of the next edition of a centuries-old activity: economic clean-up. As agriculture was downgraded to factories and services, the share of vital wealth gained from the physical and muscular muscles was shattered while the exchange of information and brains increased. Federal Reserve Chairman Alan Greenspan is pleased to note that the economy has become cleaner and cleaner. Communicate regularly with friends, colleagues, and use video conferencing. Distance education or work. Deteriorates the home or protects against coronavirus infection (covid-19 virus).

Pandemics are not the only force at work here. The requirement is therefore climate-driven to replace fossil fuels with renewable energy. Solar and wind power does not require fuel, storage tanks, pipes, rails or tanker vessels. The pandemic sparked the move by lowering prices and investing in fossil fuels. But information technology is the main cause. Joel Mokyr, an economist historian at Northwestern University, said one of his most important and valuable roles was: “a great deception”: It enables lifelong representations that are increasingly accurate of sorts. through analog or digital simulation, something you call virtualization. ”

At least one third of the cost of a disc, tape or CD was once spent on body capital, manufacturers and distributors, such as retail stores. Today, almost all of the value of a song that is streamed or downloaded goes into intangible assets: the artist, songwriter, label, publisher, or platform (such as Apple Inc., iTunes, or the Spotify technology that distributes it.

In the film industry, the pandemic has dispersed a similar dynamic. Warner Bros. the release of all his films in 2021 simultaneously on the HBO Max streaming service (owned by Warner, AT&T Inc.) and in cinemas signals that the physical component of cinematic quality will steadily decline.

In many classrooms, companies have turned to remote operations using recreational tools such as Zoom – a change that Mokyr calls technology that is more “fake” because it is trying to rebuild in virtual form the close relationship between managers, employees and customers. Consumers’ resistance to online shopping has since slowed down and the virus has softened further, in part because consumers have been more willing to experiment with personal experience. This year, businesses spend more on almost everything related to logistics and technology and less on everything else.


Jennifer Nelson is a seasoned reporter and entrepreneurial writer. She covers breaking news and enjoys writing about current events.