The seismic shock of Covid-19 has thrown many industries out of kilter, and some (like the dinosaurs) will never recover. In this gigantic struggle, only the strong and most innovative outfits will survive.
Some winners and losers are already apparent. The most obvious struggling industries are tourism, hotels, restaurants, airlines, cruise lines, movie theaters, casinos, shopping malls, and professional sports.
Even amateur sports are in trouble, especially the next Summer Olympics Games, scheduled to open in Tokyo from July 23 to August 8, 2021.
“Travelers will have to produce a negative test within 72 hours of departure and then test negative upon arrival. They will not have to quarantine but aren’t allowed to go to restaurants, bars, stores, tourist destinations or ride public transportation during their first 14 days. They may not attend Olympic events in which they aren’t participating.
All travelers must submit a detailed itinerary — including the names of anyone they will be in close contact with, such as teammates — to Japanese authorities. They must input details of their health and any symptoms they are experiencing into a mandatory mobile app. Athletes are discouraged from chanting or singing while cheering for others but are encouraged to clap.” ESPN
All these restrictions might discourage a lot of people from even showing up at this event.
Real estate is also taking a big hit. Many people are now working from home and even when the pandemic will be over, they will continue to do so. Thus have decided the powers that be. They don’t see the need to rent large offices anymore and won’t renew their leases when they expire. They will save a lot of money at the expense of the real estate magnates and I don’t feel a bit sorry for those.
An equally large number of people are now shopping online, and once adopted, this habit will perdure. Retail stores and shopping malls will suffer.
On the winning side, we have Big Tech (Facebook, Amazon, Apple, Google, Zoom) with Jeff Bezos, Elon Musk, Bill Gates, and Mark Zuckerberg racking big money.
With many people and students working from home, computer makers are also seeing a big demand for their products.
Online grocers and online deliveries are also on a roll. Video games and the fledgling cannabis industry are equally doing well because what can you do when you are unemployed, and when the rent is due?
The French say “Le malheur des uns fait le bonheur des autres » (the misfortune of some contributes to the happiness of others) and it is sadly true.
Personally, I don’t wish to see anybody fail to feel good but succeeding at anything still gives you a “petit je ne sais quoi.”
Be well, and don’t do anything I would not do.
Alain