In the pandemic economy, tech companies are raking it in

[Jating]

Very interesting to find out that these tech companies are making huge money in this pandemic, but not totally surprising though.

Despite a massive decline in advertising spending, YouTube revenue rose to $3.8 billion this year from $3.6 billion last year. Facebook’s business is largely ad-based as well — and its revenue also rose to $18.7 billion as its users doomscrolled their way through the pandemic, even though several companies publicly boycotted the platform.

Meanwhile, Amazon doubled its profit as more people ordered delivery to their homes: $5.2 billion this quarter, from $2.6 billion last year. And Apple, which had many of its stores closed for chunks of the quarter, still made $11.25 billion in profit as people bought devices to entertain themselves.

https://www.theverge.com/2020/7/30/21348652/pandemic-earnings-antitrust-google-facebook-apple-amazon

While the US economy is on the looming recession, those giant tech are the one who gets the most benefit out of the pandemic, regardless if there is a House Judiciary Committee’s investigation into the market power of Amazon, Apple, Facebook and Google and the net effect is the tech antitrust hearing was good, actually.

[Kemarit]

Regardless of the pandemic, I think the big four are bound to make money in billions anyways. And just that in this situation, there profit are more pronounced because almost all industries are suffering. But since their target is a close niche market there are really going to get the most benefit.

Like Zoom for instance, a enterprise video product, and as more people started to embrace the "new norm' but doing work from home, obviously, this kind of cloud base conferencing will be one of the hottest commodities. Same as online ordering, helping bridge the gap from food to anything that you needed can be purchase online now. And then people on Youtube and Facebook and Google all the time so this is no surprising.

[Darker45]

There's still money even in wars and pandemics and other darkest days of humanity. As a matter of fact, Jeff Bezos recovered his pre-divorce worth and even topped that to reach an all-time high in the middle of the pandemic.

These types of businesses are not those which would bow down to the circumstances brought forth by the pandemic. On the contrary, they have the edge over others. COVID-19 most probably brought more people online and more online hours from the majority.  

[Lorence.xD]

There's still money even in wars and pandemics and other darkest days of humanity. As a matter of fact, Jeff Bezos recovered his pre-divorce worth and even topped that to reach an all-time high in the middle of the pandemic.

These types of businesses are not those which would bow down to the circumstances brought forth by the pandemic. On the contrary, they have the edge over others. COVID-19 most probably brought more people online and more online hours from the majority. 

The number of people online definitely increased which spells profits for these companies, I do think that there is nothing wrong with that, despite the high cases of virus in the US, the thing that makes these company afloat is they have customers around the world, which means that they do not have a shortage of customers unless people from around the world decided to go offline.

[Oasisman]

Interesting how people can still afford to buy gadgets such as Apple devices, while some are complaining for the loss of job thus crippling their daily income.
I won't be surprised with YouTube and Facebook ads, since people have ample of time to spend in the internet.

I'm also wondering how much does the toilet paper and facemask companies are earning since the beginning of the pandemic.

[Upgrade00]

The returns of these social services is really not a surprise, as people turn to them for entertainment during these period and they are also means of connecting businesses to customers without physical contact.

regardless if there is a House Judiciary Committee’s investigation into the market power of Amazon, Apple, Facebook and Google and the net effect is the tech antitrust hearing was good, actually.

Most people are really not bothered by the fine print of the investigations or  the outcome of these hearings, so it's unlikely it will hurt their profits especially as people have become hugely reliant on the services they provide.
These hearings also are means to get giant tech cooperations to check themselves and not really leading up to sanctions or charges. This happened during the last investigation and hearing on Facebook's poliicy; lots of emotions were shown, but it got off with just a warning.
An actual trial and sanction of these businesses would be a huge financial venture, with the companies owning lots of money to throw around to lobbyists.

I'm also wondering how much does the toilet paper and facemask companies are earning since the beginning of the pandemic.

The toilet paper was really just a bubble during the early periods as artificial scarcirty was created, so people panicked and bought more creating even more scarcity.

[Juggy777]

w

Very interesting to find out that these tech companies are making huge money in this pandemic, but not totally surprising though.

Despite a massive decline in advertising spending, YouTube revenue rose to $3.8 billion this year from $3.6 billion last year. Facebook’s business is largely ad-based as well — and its revenue also rose to $18.7 billion as its users doomscrolled their way through the pandemic, even though several companies publicly boycotted the platform.

Meanwhile, Amazon doubled its profit as more people ordered delivery to their homes: $5.2 billion this quarter, from $2.6 billion last year. And Apple, which had many of its stores closed for chunks of the quarter, still made $11.25 billion in profit as people bought devices to entertain themselves.

https://www.theverge.com/2020/7/30/21348652/pandemic-earnings-antitrust-google-facebook-apple-amazon

While the US economy is on the looming recession, those giant tech are the one who gets the most benefit out of the pandemic, regardless if there is a House Judiciary Committee’s investigation into the market power of Amazon, Apple, Facebook and Google and the net effect is the tech antitrust hearing was good, actually.

@Jating there’s really nothing surprising about this news because advertisers stopped spending in lifestyle and sports niche, but gaming and kids niche witnessed more spending so their books were always going to be balanced. Lastly people have consumed more videos in the wake of the pandemic, and video ads is the alternative way to earn more money for these social giants, hence if you had been studying the trends after covid began you too would not have been surprised about their revenues.

Sources:

https://www.primis.tech/insights/video-demand-supply-covid-19-era/

https://www.primis.tech/insights/publishers-leverage-video-consumption-growth-during-lockdown/

[Twinkledoe]

Interesting how people can still afford to buy gadgets such as Apple devices, while some are complaining for the loss of job thus crippling their daily income.
I won't be surprised with YouTube and Facebook ads, since people have ample of time to spend in the internet.

I'm also wondering how much does the toilet paper and facemask companies are earning since the beginning of the pandemic.

A lot of youtubers earn good income despite this pandemic as a lot of people are stuck in front of their computers. Just like for example myself, I have few subscriptions in YT before the pandemic happens, but today, I have a lot of channels that are now following and it varies according to my interests. And I don't skip ads if I know that video is something that I support with. I don't own a channel but I find a lot of these YT channels interesting, which I haven't noticed before the pandemic. And I can say, a lot of these YouTubers are earning good income based from what they are showing to their followers. There are also new creators that are now having huge following and earnings also. You just need to meet certain reqmts to have your channel open for ads/monetization. And presto, they are earning while they are enjoying their time showing themselves to the world.

[NavI_027]

Like what other's said, the news was not surprising because that's what we really expected. These companies boom because of boredom and forced isolation due to pandemic. Aside from social media and e-commerce companies, I think another kind of business which get the spotlight in these recent times are the money remittance centers and delivery sercvices. Here in our country, I can feel that such businesses are growing rapidly.

I'm also wondering how much does the toilet paper and facemask companies are earning since the beginning of the pandemic.

The toilet paper was really just a bubble during the early periods as artificial scarcirty was created, so people panicked and bought more creating even more scarcity.

Is that for real? I mean, is there really a high demand happened on toilet papers? I Heard about it before but I thought they were just joking. Im sorry, I can't relate because I do believe that most of the people are into soap and water lol . Well, if that's the case then maybe I'm wrong.

[amishmanish]

Americans are simultaneously more reliant on Big Tech- and less trusting of it

Not just Americans but people everywhere have a natural tendency to be less trusting of Big tech. It is mostly because of the closed source nature as well as the amount of influence that targeted news and targeted advertising is making. Google and Facebook have become aggregators of political and social information. They are so pretty off from their initial goals of and romantic tag lines like "Don't be evil". Both need to do so much more in terms of targeting individuals with information resulting in the formation of water-tight compartments of opinions which characterize our social and political atmosphere at present.

Clubbing these two with Amazon and Apple obviously doesn't make sense except that these hearings have nothing to do with public's trust of them. They are just anti-monopoly checks from the regulators i suppose. I would like Facebook to vanish off the face of earth ideally. Rest of the three are just fine as long as Google doesn't restart its stupid attempts at a social network. Does anybody remember ever caring about Google+ ?

[sunsilk]

The pandemic made those companies earn more because everyone is at home and has nothing to do but to watch on YouTube, buy things on Amazon, and use Facebook to browse and communicate with other people.

But also the good news is that these websites also helped thousands of people to make a living during the pandemic. More orders through social media and businesses were made and that's also the other side that we must appreciate with their rise.

[Lucius]

Interesting how people can still afford to buy gadgets such as Apple devices, while some are complaining for the loss of job thus crippling their daily income.
I won't be surprised with YouTube and Facebook ads, since people have ample of time to spend in the internet.

I'm also wondering how much does the toilet paper and facemask companies are earning since the beginning of the pandemic.

The pandemic has definitely affected a large percentage of the human population, some quite severely - but some still live as if nothing has happened. We all know that Americans received financial aid in the form of stimulus checks, and similar things were done by some other countries - although not on such a large financial scale. Part of that money was probably spent on various devices that people have fun with while in isolation. And of course, all digital services record a growth in profits when part of life is transferred online, so for them the pandemic is actually a very useful phenomenon.

All manufacturers of protective equipment (masks, gloves, disinfectants) are making record revenues since the prices of such things have risen at least x10 compared to the prices before the virus appeared. Of course, most of it still comes from China, but production has been launched in other countries to avoid scenes from a few months ago when there was literally a real little trade war going on for every face mask.

[Reatim]

Interesting how people can still afford to buy gadgets such as Apple devices, while some are complaining for the loss of job thus crippling their daily income.
I won't be surprised with YouTube and Facebook ads, since people have ample of time to spend in the internet.

I'm also wondering how much does the toilet paper and facemask companies are earning since the beginning of the pandemic.

Seems that there are still people who have a lots of reserves and still capable of buying stuff like that, this pandemic really hits those who are in the lower class they are the one who suffered.

Losing job and opportunities to do with small businesses that needs to be outside, this people are now suffering, though those who are from the first class society.

The reserves are still enough to continue enjoying the luxuries even this pandemic still active and still affecting most of the economies of the world.

[LogitechMouse]

~

Different companies shined up even the pandemic occurred.

Youtube's revenue is I think expected because many people right now are spending their time watching some videos on it so that they will not feel bored. Quite surprised with Facebook's revenue despite the companies leaving the company because of some problems. With regards to Amazon, I already expected that they will be the ones who will get profit because in our country companies with the same niche as Amazon (Lazada and Shopee) got more customers too because of the quarantine and people can't go out to buy something. With Apple, nothing much to say .

Businessman still find their ways to get some profit despite the pandemic that hit the world .

[CryptopreneurBrainboss]

Seems that there are still people who have a lots of reserves and still capable of buying stuff like that, this pandemic really hits those who are in the lower class they are the one who suffered.

Probably because they didn't planned their life for emergency like this, always living hand to mouth and never had any savings. Many people used this pandemic crisis to uplift their financial status because they were prepared and grab the opportunity when it presented itself. Just imagine the opportunity the price of bitcoin offered when it got hitted by the pandemic declining to around +/-$4k.

Other assets like stocks, commodity etc also offered similar opportunities but many refused to grab it probably due to fud. Sometimes we are the problem not that the government. Those who planned their life's are probably benefiting right now and this should served as a lesson to the next generation.

[Coyster]

For me, I think if you want to measure the effect of the pandemic, you should start with the small scale businesses, those that lack revenues and billions of dollars to fall back on in a situation like this one, for companies like Facebook, youtube for example, this companies rank as one of the biggest world wide, they will obviously face set backs, as this amounts they have made this year, would have been more, without the pandemic, but they are still generating billions, so it looks totally fine when everyone looks at it.

Microeconomics on the other hand continue to face a huge setback in most countries with lack of support and funds, and it's a clearer indication of the economic recession; government should ensure an even distribution of funds to this businesses to recover from their losses and debts they have incurred during this period.

[plvbob0070]

It's because most people are on the internet since we are stuck inside our houses and have nothing to do. An example is YouTube, a lot of people are either suddenly creating their own channels (expecting to be big just like other YouTubers) or binge-watching different videos on YT. Since they can't do anything, most ate just switching different apps on their phone.

As for online shopping, not only in Amazon, I have also seen that a lot of people enjoying it these days. Because for others, it's safer to buy things online than going outside. Even me, I get attracted to buying things online especially Facebook is showing a lot of ads. Even if we say that most people are struggling financially due to the pandemic, people would still make way to provide things they need and want. Also, no wonder why a lot of people are now selling online because people are mostly on the internet.

[GeorgeJohn]

I think many companies suffered during pandemic even till now their still passing into hardship due to covid19. Even some countries lost their economy due to mismanagement and embezzlement of funds by their politicians.

What really affecting some companies is based on the raw materials already bought for industrial processions due to covid19 outbreak the raw materials spoiled or damaged.
Even in some countries,many tasked companies for financial support for eradication of covid19, so therefore this can equally bring some companies down.

[Heart18]

Interesting how people can still afford to buy gadgets such as Apple devices, while some are complaining for the loss of job thus crippling their daily income.
I won't be surprised with YouTube and Facebook ads, since people have ample of time to spend in the internet.

I'm also wondering how much does the toilet paper and facemask companies are earning since the beginning of the pandemic.

The pandemic has definitely affected a large percentage of the human population, some quite severely - but some still live as if nothing has happened. We all know that Americans received financial aid in the form of stimulus checks, and similar things were done by some other countries - although not on such a large financial scale. Part of that money was probably spent on various devices that people have fun with while in isolation. And of course, all digital services record a growth in profits when part of life is transferred online, so for them the pandemic is actually a very useful phenomenon.

All manufacturers of protective equipment (masks, gloves, disinfectants) are making record revenues since the prices of such things have risen at least x10 compared to the prices before the virus appeared. Of course, most of it still comes from China, but production has been launched in other countries to avoid scenes from a few months ago when there was literally a real little trade war going on for every face mask.

You are right. A lot of industries were struggling and other are totally dead but this companies are gaining because they are extremely needed this time. Tech companies are highly in demand due to this pandemic where we just need to stay home and we used to do a lot of transactions online. Same goes to a lot of companies that produce essential goods for us. This pandemic brought more profits to all this companies, and its great, because the economy of the world will not totally die because of them.

[Findingnemo]

They made profits from social media advertisements and that's quite understandable because its quarantine people spend most of their time on Netflix or Youtube so more ads will be shows which means more revenue for the company, when take amazon's profits that is also not a surprise because its lockdown people are afraid to come outside so that e-commerce site is making huge profits in that time.

While other industry like gaming also got bloomed in that period but entertainment and lot others are in deep losses.

[Gozie51]

Seems that there are still people who have a lots of reserves and still capable of buying stuff like that, this pandemic really hits those who are in the lower class they are the one who suffered.

Is not really that it affected the lower class more, it affected people who are not in the sell or supply of health equipment. The class of people who are in the health sector benefiting. So whether the low or high classes in health sector are not suffering.

On the other side, that is other sectors , it may look like the lower class are the most hit but that is because they are already not living a standard life and having enough financial strength to take care of themselves and to extend support to others, unlike the wealthy whose businesses are not functioning like before but they are still able to show help to the needy.

[el kaka22]

Well, I really wanted to learn how much Netflix is watched during the march to may period, I feel like the streaming numbers and not just subscription numbers must have gone up like crazy, before that period I had netflix but I watched it like few times a week maybe, probably less, and during march to may I watched it every single day for hours and hours.

Tech world is crazy good during this period because people were all at home so that meant that people would be basically all spending their time on computers and mobile phones since they couldn't go outside. Hell I wager the number of sales in steam went up as well, or games on phones went up in playing time and income as well even if it is just ads. It is like this crazy situation where anything you can do at home is a lot richer nowadays.

[bittraffic]

They are services that are needed the most in circumstances like this pandemic because people are just staying at home and have more time to browse the internet, buy from the internet. No wonder they are earning still even when some companies are already struggling and even declared bankruptcy.  These companies must have hired more people during this time than back when there was no pandemic. With so many orders from them, more workers is needed.

[Kakmakr]

Well the video conferencing software companies like Zoom / Cisco Webex Meetings / Skype / BlueJeans Meetings / GoToMeeting / Microsoft Teams and Google Hangouts Meet are making a killing these days. Some of these software companies has not seen any action before this and now suddenly millions of people are using the software to work remotely.  

Also, most retail companies were forced to develop some kind of online presence to be able to sell something, because most shops were closed during lockdowns and quarantine. ( The eCommerce scene grew like crazy)  

[Latviand]

These types of businesses are not those which would bow down to the circumstances brought forth by the pandemic. On the contrary, they have the edge over others. COVID-19 most probably brought more people online and more online hours from the majority.  

Because people have nothing to do with the rules and regulations, so we have no choice but to stay at home and use the social media all day and night.

That's why people are so into the use of online platforms 24/7  due to boredom and stress.

The pandemic made those companies earn more because everyone is at home and has nothing to do but to watch on YouTube, buy things on Amazon, and use Facebook to browse and communicate with other people.

Online businesses are really popular nowadays and we prefer to buy online using our debt cards and bank accounts to a much faster payment. Those businesses do really have a lot of customers because shopping outside isn't safe and it is hard to deal with the environment when there's still a risk of getting the virus from malls, markets, and other shops, so people prefer to spend their money online.

Social media really connects people, so with the use of Facebook, Messenger, Instagram, and etc., you can still be updated with someone.

[AniviaBtc]

Seems that there are still people who have a lots of reserves and still capable of buying stuff like that, this pandemic really hits those who are in the lower class they are the one who suffered.

Other assets like stocks, commodity etc also offered similar opportunities but many refused to grab it probably due to fud. Sometimes we are the problem not that the government. Those who planned their life's are probably benefiting right now and this should served as a lesson to the next generation.

Also, maybe they don't grab the opportunity to invest is because they aren't knowledgeable about it and they are scared to lose their money. Investment should really take time because it isn't an instant money, people should understand that you need hard work, full effort and effective strategy to survive this pandemic. The government should help those people who are really in need, those people who have nothing but struggles in life. Invest, invest, invest, that's what we need, if you have some money to invest, don't hesitate and trust to yourself that you can make it grow. If there's an opportunity grab it, and don't just be silent about your situation, let us help those people in needs and let the government focus on all of the classes in our community, especially those lower class.

[The Sceptical Chymist]

I don't find this surprising at all, or even that interesting really.  Anyone with half a brain could have predicted that when people are forced to stay at home they're going to be online a lot more--especially on social media sites like FB, Twitter, etc., and Youtube watching videos.  It would have been easily predicted that businesses like Amazon would start booming, too.  Hell, at the beginning of the pandemic I had to order cat food from Amazon because my local stores had a hard time keeping their shelves stocked.

So it's great for the tech companies, but I'm really hoping smaller, local businesses start to recover and that people start to get back to work.  Those things will be huge positives for the economy as a whole and not just stockholders of FB, Alphabet, Amazon, and the other companies that have benefited from the COVID-19 problem.

As an aside, I really wish Amazon Prime would get some new videos.  I think I've watched all of the good ones so far and have had to resort to watching videos of BLM protests and whatnot on Youtube.  Those are interesting but are beginning to get old.  lol

[harizen]

Interesting how people can still afford to buy gadgets such as Apple devices, while some are complaining for the loss of job thus crippling their daily income.
I won't be surprised with YouTube and Facebook ads, since people have ample of time to spend in the internet.

And to add for that, there are lots of new streamers popped out in Facebook Gaming here in PH despite a call from most citizens of financial assistance from the government. To able to start, streamers need decent streaming equips to cope up with the other streamers (PC supplies zone also take the advantage). In the game I played, ROM SEA, lots of shared streams circulated now gathering subs for their Facebook page and Youtube channel.

I'm also wondering how much does the toilet paper and facemask companies are earning since the beginning of the pandemic.

Don't have an idea about the facemask industries but for tissue or toilet papers, sales become boom until now. I have a known friend who is a manager of a tissue company named "E*CO (not promoting it lol) and they told me that there's a large demand since the lockdown hit the capital.

[pixie85]

Well the video conferencing software companies like Zoom / Cisco Webex Meetings / Skype / BlueJeans Meetings / GoToMeeting / Microsoft Teams and Google Hangouts Meet are making a killing these days. Some of these software companies has not seen any action before this and now suddenly millions of people are using the software to work remotely.  

Also, most retail companies were forced to develop some kind of online presence to be able to sell something, because most shops were closed during lockdowns and quarantine. ( The eCommerce scene grew like crazy)  

There's more. For example we're using slack at work.

The software listed by you is not only used for companies but also schools. Virtual blackboards and stuff. Most of these things have to be licensed because that's how governments want it to be - all legal and preferably paid. As little freeware as possible to minimize the possibility of malware.

Netflix and other platforms like HBO are also making a killing these days. The popularity of computer games like CoD also went through the roof in Spring.

[pathapoddo]

This Covid-19 pandemic was a gift for the tech companies. Because most of the people are staying people and they have nothing to do without internet. That's why many tech giants like facebook, netflix, whats'app, instagram got a huge earning boost. In my country the e-commerce anf food delivery companies are on the top. I am regularly using food delivery company for my breakfast and sometimes for my snacks. Maximum people using them, also using online shopping site for their daily home needs.

[Finestream]

People are living in the online world now, it's understandable that their product and online platform will be in demand.

However, this success is opposite to what is happening to most businesses as some industries are struggling this time, however, we can still appreciate that there are big companies who are making themselves profitable and they can help the economy as they are a big contributor in terms of taxes. As what we expected also that crypto will struggle due to crisis, but we are wrong because it has a bullish performance, even better compared to last year's performance.

[cryptoaddictchie]

This Covid-19 pandemic was a gift for the tech companies. Because most of the people are staying people and they have nothing to do without internet. That's why many tech giants like facebook, netflix, whats'app, instagram got a huge earning boost.

Oh boy! I wouldnt called it a gift but more like a curse. No one wanted this pandemic to happen. Those giant tech were privilege due to the circumstances. Somehow I dont want to think that they like what is happening inspite of their profits. Truth be told but they are probably will benefit to this crisis whereas other field will suffered heavily.

Physical businesses are all affected and this has a lot effect on the overall economy than the increase of profits by these tech giant.

[abhiseshakana]

Oh boy! I wouldnt called it a gift but more like a curse. No one wanted this pandemic to happen. Those giant tech were privilege due to the circumstances. Somehow I dont want to think that they like what is happening inspite of their profits. Truth be told but they are probably will benefit to this crisis whereas other field will suffered heavily.

Physical businesses are all affected and this has a lot effect on the overall economy than the increase of profits by these tech giant.

It is up to us to see a pandemic by accident or by design. If we assume a pandemic by design, we see that information technology companies benefit most from pandemics and lockdowns and for some time they will continue to benefit and their wealth will multiply. The digital world, the robot, the IoT all-AI, and the algorithm, are indeed the goals of the globalists. The pandemic accelerated the industrial revolution 4.0 and created legitimacy for the accelerated adoption of digital technology in all lines of life.

https://www.visualcapitalist.com/how-big-tech-makes-their-billions-2020/
https://www.visualcapitalist.com/richest-people-in-the-world/

[Lucius]

Oh boy! I wouldnt called it a gift but more like a curse. No one wanted this pandemic to happen. 

Don't be so sure about it, because if profit comes first (and that's an indisputable fact) then it doesn't matter at all how that same profit is made. It would not be justified to say that someone wanted a pandemic (although conspiracy theorists would not agree), but if it has already happened, it should be used as much as possible.

It is also more than obvious that this situation will change some business segments and greatly affect human habits in the future. Although we are already deep in the digital age, now it will be even more pronounced because in the fear of some new pandemics, social contacts will be less and less desirable and a lot of things will simply move online. Those who have already found their place in this business are already profiting, those who do not adapt will surely disappear completely.

[Genemind]

This pandemic had been a wake-up call to most countries. The reason why some tech companies are still blooming during this pandemic most people, services, businesses, and companies are depending on online services. Offices were closed down and some were forced to work from home, even some companies started hiring people to work from home. People who are locked down had nothing to do but spend their time online. Even some businesses switched to having online services that are not available to some businesses even before the pandemic.

Adjustments have to be made for us to cope-up with this pandemic. Some businesses might totally die since most need to be online for people to reach their services. Aside from medicine, tech companies bloomed during the pandemic.

[Yatsan]

There is really no doubt and even not a surprise that even at this time of pandemic tech companies are still earning tons of money because now that people tend to stay at home to prevent the spread of virus and acquiring the infectious disease outside, people are finding some sort of entertainment to keep themselves busy and to lessen the boredom of staying at home on which social media platforms like Facebook and YouTube are present to give services of entertainment which are basically ads based making them to earn a lot since people are staying in front of their devices using those platforms for entertainment.

Even if there is no pandemic, tech companies are still earning tons of money for we are at the age of modern technology which obviously the age favorable for the technology industry to top among the other industries in terms of gaining profit and usage from the people. Now that we are still prohibited to go outside, tech companies will be earning more like it's the peak season for the reason that at this point of time people tend to use technology on everyday life situation since it is the safest way possible amid with the existence of this pandemic.

[sunsilk]

The pandemic made those companies earn more because everyone is at home and has nothing to do but to watch on YouTube, buy things on Amazon, and use Facebook to browse and communicate with other people.

Online businesses are really popular nowadays and we prefer to buy online using our debt cards and bank accounts to a much faster payment. Those businesses do really have a lot of customers because shopping outside isn't safe and it is hard to deal with the environment when there's still a risk of getting the virus from malls, markets, and other shops, so people prefer to spend their money online.

Social media really connects people, so with the use of Facebook, Messenger, Instagram, and etc., you can still be updated with someone.

Things are going digital and it's a very imminent innovation which we have to embrace. Everybody is coping up and there is no option but also to be with these technologies that can also help us with our daily lives.

Even before the pandemic, online deliveries or ecommerce is a massive industry which have been believed to be going on for the next years to come and will create a lot of millionaires through this business just like what Amazon did.

[wxa7115]

Regardless of the pandemic, I think the big four are bound to make money in billions anyways. And just that in this situation, there profit are more pronounced because almost all industries are suffering. But since their target is a close niche market there are really going to get the most benefit.

Like Zoom for instance, a enterprise video product, and as more people started to embrace the "new norm' but doing work from home, obviously, this kind of cloud base conferencing will be one of the hottest commodities. Same as online ordering, helping bridge the gap from food to anything that you needed can be purchase online now. And then people on Youtube and Facebook and Google all the time so this is no surprising.

I think no one is surprised to see they got profits but the level of profits they got is what got everyone by surprise, tech companies are getting too powerful and they are not really different from monopolies at this point so what it can be done about it? The truth is that not much, Facebook and Google have become a kind of unofficial spy agency from the government and if they were to break apart the tech companies then their intelligence agencies will be affected.

What we need is a president that actually cares about their citizens and does not see them as just another asset he wants to squeeze as much performance as possible and I do not see that on the horizon unfortunately.

[thesmallgod]

This is expected because people now stay at home and have the luxury of watching and playing video games unlike before that they only have limited time due to job to do many of this thing. Social media platform during this period has not been the only place to have fun but to get an instant update about the coronavirus which is part of the reason why these tech giants will have more sales in revenue. The same thing with internet data providers and other tech related SMEs

[Sanugarid]

Regardless of the pandemic, I think the big four are bound to make money in billions anyways. And just that in this situation, there profit are more pronounced because almost all industries are suffering. But since their target is a close niche market there are really going to get the most benefit.

Yeah, what's so surprising with these company giants? they are making billions every year, it just so happened that we are on a pandemic and it's not surprising at all the increase in their revenues coz most of the people uses their services online. They are really in the most beneficial side here, and also the shipping industry the services that is most subscribed these days coz we are all locked up. Now this isn't far to happen with cryptocurrencies, people are trying to be safe we can clearly see the stats of the digital payment services usage through the 5 month lock up.


No one really wanted to have a pandemic, but it seems to give positive energy with the companies like them who earns billions of dollar each year and it could possibly be doubled by the end of the year.
So this is why I keep seeing older people dancing on tiktok now 

[KrisAlex18]

For sure tech companies would rake it because people right thid pandemic are tend to stay indoors so there is no doubt that people will make use of their devices to keep themselves safe and that is how the tech companies like YouTube, Facebook and other social media platforms are still earning even with the presence of the pandemic is still on. That was really not surprising already because we are already into the modernization wherein people are most likely to be using modern technology to accompany them on daily life situation. It just so happen that tech companies benefitted the situation because people are finding for something that will make them busy this pandemic which is obviously related to technology since everyone is not allowed to go outside.

No one wanted this pandemic and that's for sure so even the tech companies are raking it because of the situation, still it it undeniable that the pandemic brought negative effects on people and economy of different countries. It just so happen that the negative situation brings a lot more opportunities to the businesses related to technology this pandemic because it is the safest and most possible thing to be done.

[Botnake]

Tech are winning, as the other industries suffers from the effect of the covid-19, they are making profit as people now turns online either for entertainment or financial transaction. I believe the world will be back to normal but this situation has become a blessing in disguise to introduce the tech companies to people, and, also I believe crypto was also introduced as it's been bullish though the economy is pretty much banged up.

[bits4books]

Surprisingly, companies that create entertainment products or devices get more money when everyone is sitting at home! It's just not clear how it happened!
But seriously , what did you expect? Everyone is sitting at home and watching YouTube, flipping through FB/Twitter, constantly watching something on streaming services, playing games, buying new equipment for complacency and just waiting. It is quite an ideal environment for stable or even increased profits for the it sector. I don't understand your surprise in this case.

[ChiBitCTy]

To be fair these companies would be killing either way. Amazon, google, microsoft... these companies basically run the planet and especially companies like Amazon who have their hands in every sort of business you can imagine these days... certainly none of this is surprising.  We shall see how they hold up as more and more people continue to lose their homes/jobs etc.

[abhiseshakana]

To be fair these companies would be killing either way. Amazon, google, microsoft... these companies basically run the planet and especially companies like Amazon who have their hands in every sort of business you can imagine these days... certainly none of this is surprising.  We shall see how they hold up as more and more people continue to lose their homes/jobs etc.

In the end, we cannot blame anyone because basically technological progress has positive and negative impacts on human life. The world has entered the digital era with a change in the direction of automation which started the industrial revolution 4.0. The development of automation innovations such as robots, artificial intelligence, and genetic modification succeeded in creating a different world than before. Technology has a vital role in the economic development of a country, the rapid transformation of technology can affect and improve economic performance through productivity, efficiency, and innovation which are characteristics of the technology itself.

Our choice is just to adapt and we as individuals and governments should have made preparations to welcome changes in the world. Pandemic only accelerates the process.

[adzino]

Yeah, not surprising at all. People from most of the countries are stuck at home. They have nothing to do other than be "online". Those working from home are dependent on google meet, zoom, discord and other online services. Look at how quickly facebook for themselves the "room" feature. They know people will want to use it!
No more going to theaters, but spend more time watching videos at home through youtube, amazon prime or Netflix. The tech companies are raking it and since people started to like the services and got used to it, the companies will keep on raking even after this pandemic is over.

[Alert31]

Very interesting to find out that these tech companies are making huge money in this pandemic, but not totally surprising though.

Despite a massive decline in advertising spending, YouTube revenue rose to $3.8 billion this year from $3.6 billion last year. Facebook’s business is largely ad-based as well — and its revenue also rose to $18.7 billion as its users doomscrolled their way through the pandemic, even though several companies publicly boycotted the platform.

Meanwhile, Amazon doubled its profit as more people ordered delivery to their homes: $5.2 billion this quarter, from $2.6 billion last year. And Apple, which had many of its stores closed for chunks of the quarter, still made $11.25 billion in profit as people bought devices to entertain themselves.

https://www.theverge.com/2020/7/30/21348652/pandemic-earnings-antitrust-google-facebook-apple-amazon

While the US economy is on the looming recession, those giant tech are the one who gets the most benefit out of the pandemic, regardless if there is a House Judiciary Committee’s investigation into the market power of Amazon, Apple, Facebook and Google and the net effect is the tech antitrust hearing was good, actually.

Those are the biggest companies that cannot easily decline just because of pandemic. Yes,many are affected but of course everyone is still trying to do something to continue living,the same with companies, they will find a way to get more stronger and productive. Also people now are more focus online that's why that four online companies will increase the ratings and revenue.

[mezzaluna]

Very interesting to find out that these tech companies are making huge money in this pandemic, but not totally surprising though.

Despite a massive decline in advertising spending, YouTube revenue rose to $3.8 billion this year from $3.6 billion last year. Facebook’s business is largely ad-based as well — and its revenue also rose to $18.7 billion as its users doomscrolled their way through the pandemic, even though several companies publicly boycotted the platform.

Meanwhile, Amazon doubled its profit as more people ordered delivery to their homes: $5.2 billion this quarter, from $2.6 billion last year. And Apple, which had many of its stores closed for chunks of the quarter, still made $11.25 billion in profit as people bought devices to entertain themselves.

https://www.theverge.com/2020/7/30/21348652/pandemic-earnings-antitrust-google-facebook-apple-amazon

While the US economy is on the looming recession, those giant tech are the one who gets the most benefit out of the pandemic, regardless if there is a House Judiciary Committee’s investigation into the market power of Amazon, Apple, Facebook and Google and the net effect is the tech antitrust hearing was good, actually.

That is really interesting because even in Third world countries, job hiring is still possible within these kind of companies. Technology inclined companies that can render their services through the Internet is a big game changer because it makes it possible for their employees to not go jobless even in this time of pandemic. Apple products are still being sold and I guess it would really boosts their profit since everybody is stuck at home.

[MainIbem]

Regardless of the pandemic, I think the big four are bound to make money in billions anyways. And just that in this situation, there profit are more pronounced because almost all industries are suffering. But since their target is a close niche market there are really going to get the most benefit.

Like Zoom for instance, a enterprise video product, and as more people started to embrace the "new norm' but doing work from home, obviously, this kind of cloud base conferencing will be one of the hottest commodities. Same as online ordering, helping bridge the gap from food to anything that you needed can be purchase online now. And then people on Youtube and Facebook and Google all the time so this is no surprising.

I was to add zoom to the list then I noticed you have done that. And all others have enhanced their video conferencing to accommodate more users at a time. Facebook, Google, WhatsApp etc, all want a piece of the pie in this new norm. There says an African proverb, one man meat is another's poison.. While people are loosing jobs and revenues, these guys are smiling to the bank.

[tbterryboy]

I don’t think this should be a surprise to anyone. When the pandemic started a lot of people on quarantine had to face social media to keep themselves happy, lots of people went on Tiktok, Instagram, Facebook, YouTube and lots of them and we’re consuming contents. And apart from that, I think there were some Businesses who saw that as an opportunity to start advertising their products, so these tech Businesses were sure going to make lots of money at this time. As for Amazon, a lot of shifted to making their orders online to avoid going out of their house. So, this is not a surprise to me at all.

[jostorres]

Lol so damn true! ,
So, someone said that software engineers are going hungry and I was laughing hard.
These are the people that are seriously cashing out despite other skills suffering hard at this time.

Check online, most other jobs are not what you can be doing remotely, but software can mostly be done no matter where you are, companies can hire a software engineer and just in his house he can develop and launch a website, a mobile application, and even continue to work online.

So, everything that has to do with tech has progressing, including social media, they are making huge money.

[Mauser]

I don’t think this should be a surprise to anyone. When the pandemic started a lot of people on quarantine had to face social media to keep themselves happy, lots of people went on Tiktok, Instagram, Facebook, YouTube and lots of them and we’re consuming contents. And apart from that, I think there were some Businesses who saw that as an opportunity to start advertising their products, so these tech Businesses were sure going to make lots of money at this time. As for Amazon, a lot of shifted to making their orders online to avoid going out of their house. So, this is not a surprise to me at all.

I agree, the corona pandemic just accelerated the change of how we are living. Already in the last decade tech companies became the most valuable companies. Life becomes so much easier at home when you can do everything online. The future will just keep moving more and more things online. Now Amazon is even getting into food deliveries and will eventually make the supermarkets obsolete.

[MCobian]

I think because of the corona virus almost all countries quarantine, so most people are forced to be at home. This is the reason why
tech companies have made so much money in this situation, so I'm not surprised by the companylike Youtube, Facebook, Amazon and
Apple increased their profits. Because people need entertainment when at home, so platforms digitally accessible and buying goods
online is becoming more popular nowadays. It's interesting that not all are affected negative effects of corona virus.

[shoreno]

I think because of the corona virus almost all countries quarantine, so most people are forced to be at home. This is the reason why
tech companies have made so much money in this situation, so I'm not surprised by the companylike Youtube, Facebook, Amazon and
Apple increased their profits. Because people need entertainment when at home, so platforms digitally accessible and buying goods
online is becoming more popular nowadays. It's interesting that not all are affected negative effects of corona virus.

i thought that effects of the virus will stop people but i was wrong and this thread is a proof . i was thinking outside the box like how can online shopping work when there are still lockdown/quarantines  , how can people get a money to buy such gadgets when jobs are closing , and why endorsers contiue to advertise online when people hardly have a cash  , etc.. stuff like that .  i think that was only on the beginning but they adjusted it now in order for our lives to continue 

[bitgolden]

The reason why people still have money is the fact that there is stimulus checks and unemployment benefits and so forth for people who are not working, and rest of them are work from home type of jobs, which means everyone is stuck at home and there are still who are making their salary and working all of those people are still spending money somehow, and they are buying even water online nowadays so obviously it is getting higher and higher.

I personally would have imagined it would be like this, after all people who are stuck at home could only order from online websites and that would make those online websites richer and richer. It is sad that while the whole world is going down the drain one guy named Jeff Bezos could just earn tens of billions in that same period but that is life.

[Oilacris]

When it comes to business sector then this current pandemic situation would really have its Pro's and Con's depending on what sector they do belong.

If they are on essentials like Grocery etc. then they do also had advantage on this current situation.Back in tech companies which is really understandable yet

people are on their own homes which means people do only access via online and do all sorts of things online which simply puts up that these kind of services and online

offers will really be on high demand compared into those normal days. Do these companies wish for this pandemic to last? 

[startselect]

It's not surprising. When there's a major change in an environment, some benefit while others lose. In this case the pandemic caused more people to be home, playing video games, using the internet which greatly benefit those companies.

[finaleshot2016]

Obviously, tech-related companies are raking it because they're working digitally especially those IT company that only needs programming. All of those tech-related jobs are benefiting a lot because their service didn't stop, they still do their job and the only difference is they're working at home, the productive rate didn't change at all.

Gaming companies are also making a lot of money, even there's a pandemic, a recent PS4 exclusive hit a lot of sales because people are staying and playing at home.

[hatshepsut93]

I'd say it's a little bit too early to draw conclusions of who benefited from this pandemic and who didn't. There are some obvious winners like Zoom, but as for Youtube and Facebook, they were actually doing quite well even before the pandemic, and the gains that you describe aren't too big. It's totally possible that if a wide economic recession will hit soon, those companies will take a hit too. And it will be a net negative to them.

[perfect999]

Well, since people have nothing else to do, they will just be on social media doing whatever they can to keep themselves busy and have fun and also be able to communicate with their friends and all that.

A lot of tech billionaires has been cashing out like really big, although it’s nothing much of surprise to me, cause I knew that was going to happen when people started staying at home and getting bored. Just recently Instagram released Reels, a Tiktok lookalike as people would call it, and Mark has been cashing out real big as he has joined the club of Centibillionaires lol.

[verita1]

Just as these technological giants are winning in the middle of this pandemic. Because we have to stay at home as long as possible and IT workers now do their jobs from home.

They also make important donations to the fight against the coronavirus and most recently the fight against racial justice.

https://www.visualcapitalist.com/big-tech-covid-19/

https://www.google.com/amp/s/www.cnet.com/google-amp/news/tech-giants-pledge-funds-to-fight-racial-injustice-facebook-amazon-google/

[Kong Hey Pakboy]

The epidemic is affecting the economy but not the technology there is a lot of improvement in terms of technology from sitting in the lockdown everyone is leaning towards online work. Even though big companies have closed down many have found a source of income through online work digital platforms have improved a lot and transactions are happening much faster that is why the demand for online work is increasing.

It's true. Tech companies have more chance to be more productive and learn more through online during the pandemic of COVID-19 because they have more time to do their works. It is also the reason why online stores and online sellers have their increased numbers in other countries, so they could provide the daily needs of their families during this crisis.

[jentak]

There's still money even in wars and pandemics and other darkest days of humanity. As a matter of fact, Jeff Bezos recovered his pre-divorce worth and even topped that to reach an all-time high in the middle of the pandemic.
These types of businesses are not those which would bow down to the circumstances brought forth by the pandemic. On the contrary, they have the edge over others. COVID-19 most probably brought more people online and more online hours from the majority. 

The number of people online definitely increased which spells profits for these companies, I do think that there is nothing wrong with that, despite the high cases of virus in the US, the thing that makes these company afloat is they have customers around the world, which means that they do not have a shortage of customers unless people from around the world decided to go offline.

So those tech companies are in really risky position then. If pandemics would end like in one moment/one month - this could kill their income, worsen the Q report and this could lead to huge tech stocks fall

[Sapphire915]

Absolutely right. This tech companies are truly blessed during this pandemic, because people are being forced to just stay home to avoid the deadly virus. And being at home, we tend to used most of our time accessing the internet to ease the boredom that we feel each day, to connect with our loved ones and most especially our online transactions. Having this different tech companies in our digital world is really awesome amidst this crisis. Indeed, I was so thankful for them, for always giving us the best service and entertainment. No wonder they are more profitable now because they already  belong to our essential needs.

[enricaurte]

This COVID-19 has greatly impacted the world"s economy, but cryptocurrencies are being a very good alternative. and a cryptocurrency platform that has been very helpful to many people is MintMe, on this platform i have been able to make and receive donations, i have been able to start an entrepreneurship that i had in mind for a long time. Has anyone ever read any news about this platform?

[Vishnu.Reang]

Here in India, the pandemic has forced even the most technology-hating people to go tech savvy. Middle aged school teachers are now conducting online classes using Zoom and conducting assignments using Google Classroom. Earlier they were afraid even to use smartphones. Illiterate sex workers are now earning handsomely (and safely) from online sex sessions. Local retail shops are now accepting orders online. Even doctors are now consulting their patients through video conference.

[wxa7115]

I don’t think this should be a surprise to anyone. When the pandemic started a lot of people on quarantine had to face social media to keep themselves happy, lots of people went on Tiktok, Instagram, Facebook, YouTube and lots of them and we’re consuming contents. And apart from that, I think there were some Businesses who saw that as an opportunity to start advertising their products, so these tech Businesses were sure going to make lots of money at this time. As for Amazon, a lot of shifted to making their orders online to avoid going out of their house. So, this is not a surprise to me at all.

It is not a surprise that they are getting profits, that is understandable the surprise is the level of those profits and why those profits are well deserved people are really mad because during this crisis many people have lost their jobs or are seeing their pay to be reduced while those giants are earning a fortune, while I have no problems with a company that is well run this has offended many people and they are demanding some action from the government.

And the only action that a government could take against them is to claim that they are monopolies and to somehow break them apart but I do not see any intention from governments to do so.

[Fantastic33]

I think tech companies are in demand now due to the pandemic because of the social distancing and the left and right lockdown around the globe. Since we are limiting the face to face contact, schools today will be using internet and media platforms for instructional purposes.. and also since most people loss their physical job, some of them looked for online jobs so as they can support their families.