By Brad Stone
Among the thriving, the obvious candidates are e-commerce companies like JD.com Inc.
To the thriving list, I’d add social media hangout apps Houseparty and Marco Polo, both surging in the iOS and Google Play app stores. Unlikely lifelines have also been extended to meal-kit maker Blue Apron Holdings Inc.
Personally, I think
Also surviving is Apple Inc.
Unfortunately, the list of sufferers
Payment companies like Square Inc.
Circumstance is playing a pivotal role in this equation of who succeeds and who fails during the Covid-19 outbreak. But there are a few rules to glean from the list. The first is: In times of war, supply chains are always a crucial factor. Companies with durable relationships to reliable suppliers can continue to prosper. On the other hand, relying on contractors, volunteer hosts or armies of freelancers during a crisis seems tenuous at best.
The other lesson is that decisive leadership will matter. Last week Amazon announced the hiring of 100,000 workers and said it would limit the inflow of non-essential items in its warehouses. Walmart announced it was hiring 150,000 and rolled out testing sites at their stores. In effect, both are turning massive operations around on a dime. Amid the global pandemic, companies have to look for new strategies, and perhaps ways to raise money or cut their burn rate dramatically.
Good stewardship will only go so far, though, and with global business now more interconnected and interdependent than ever, unadulterated success will be rare. If the economy continues to deteriorate, we’re likely to find out that no company is immune.
If you read one thing
And here’s what you need to know in
Scooter giant Lime is considering cutting between 50 to 70 people as virus fears decrease ridership.
global technology news
Snap has seen a 10-fold increase in downloads of a tool called Snap Camera that lets users of video-conferencing services like Zoom add filters (including dog-ear overlays) to make quarantine-era meetings more fun.
SoftBank-backed car-sharing startup Getaround is looking for a buyer.
Another reason to worry about
Apple is barely hanging on to its higher-than $1 trillion market cap.
Wall Street traders lament