Big tech could emerge from coronavirus crisis stronger than ever

Kevin William David
Director of Community @angellist. No 1 Hunter on @product-hunt .
Big tech could emerge from coronavirus crisis stronger than ever
  • While the rest of the economy is tanking from the crippling impact of the coronavirus, business at the biggest technology companies is holding steady — even thriving.
  • Amazon said it was hiring 100,000 warehouse workers to meet surging demand. Facebook traffic for video calling and messaging had exploded.
  • Microsoft said the numbers using its software for online collaboration had climbed nearly 40 percent in a week.
  • Amazon has muscled in on brick-and-mortar retailers for years, but shoppers now reluctant to go to the store are turning to the e-commerce giant for a wider variety of goods, like groceries and over-the-counter drugs.
  • Streaming services like Netflix have dampened box office sales for movies in recent years. Now, as movie theaters close under government orders, Netflix and YouTube are gaining a new audience.
  • Companies were already dumping their own data centers to rent computing from Amazon, Microsoft and Google. That shift is likely to speed up as millions of employees are forced to work from home, putting a strain on corporate technology infrastructures.
  • The largest tech companies could emerge on the other side of this much stronger.