In some ways it’s hard to comprehend how COVID-19 could cause as much economic havoc as it has. For those of us in modern information age jobs you can naturally think “just work from home, change how you film some things, no huge deal”. Back in 2017 we engineered a fully cloud based data system and workflow that supports the 100’s of TB of data we use for work, this made fully moving from our offices to home pretty straight forward (no IT support or helpdesk needed).
The fact though is jobs like ours are very exposed to the wider economic problems. We read US unemployment is set to rise to 30% (I’ve lost count of all the job applications that are emailed in on a daily basis), spending cuts & cost saving measures implemented by large corporations who are drowning in debt and have poor outlooks all affect the flow of work not to mention productivity concerns with having large amounts of staff working from home. As central banks create trillions out of thin air to stimulate economies and try to quench the fear problem, many decision makers remain tied up in crisis management and aren’t taking the time to absorb the big picture.
If we can predict behavior, we can predict where the next opportunities are and where we should be focusing our dreaming efforts.The good news is in some ways it’s quite easy to predict people’s behavior in the next 12 months based on one word ‘vaccine’. Simply put the absence of a vaccine is going to leave people living cautiously (particularly the elderly) for the foreseeable future and even once that problem has been solved people won’t return back to normal life instantly, jobs won’t appear for all the unemployed overnight. So knowing higher wealth consumers will be spending less overall & everyone will be more at home means we can start to dream about things that will make life better for them right where they are. Like every problem; if we can solve it, we can add value and be rewarded.
Are you Ready to Dream Again?