Re:Tech Sector Feeling Covid-19’s Economic Pain
by SpicyLemonZest on Friday July 31, 2020 @09:52AM
(#24008568)
I think there's reason to be confident it'll work. In many areas people rushed back to those things even before the pandemic was over. I'm not saying this was an unreasonable concern to have, but it seems to have been disconfirmed.
1. Government supports the economy while vaccines and treatments are developed.
2. ???
3. Economic activity returns quickly to pre-pandemic levels.
There's no "guarantee" this plan will work... but we are all acting as if it will, because the alternatives are too unpleasant to contemplate.[a]
So, much of the economy is "faking it until we make it."
The tech sector is no exemption.
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[a] We all prefer not to think too much on the possibility that large swaths of the economy could remain under stress for a long while -- office buildings, malls, retail stores, restaurants and bars, movie theaters, airlines, conference centers, etc. These businesses employ a gazillion people, use a mountain of assets, and depend on a ton of software and technology for everything. We all want these businesses to survive as intact as possible so they can thrive in a post-pandemic world and continue to buy technology.