In the pandemic economy, tech companies are raking it in

[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