It should be safe to say that so far, our life in the year 2020 has been shaped by coronavirus. We have spent the last decade focused on everything digital. In fact, FAANG and similar tech companies have increasingly shaped our lives and our investment portfolios. However, the shaping of the coronavirus pandemic should give us a pause to consider where biology still wins over technology. In my view, here are the 4 key dimensions where one wins over the other:
Technology Wins
Commerce: It is safe to say that technology has forever shaped our purchasing behavior. As the pandemic spreads, I assume we will see more and more commerce happening online. It is however unclear how the last mile delivery will be impacted if coronavirus continues to spread.
Connectivity: Facebook, Instagram, WhatsApp, TikTok – we are more connected than ever. We are sharing more – more instant messages, more videos, more opinions, more everything. In fact, some are arguing that it is the connectivity that is leading to the spread of information (and misinformation) – which is leading to the heightened concerns about the coronavirus. That said, clearly, technology wins when it comes to connectivity.
Biology Wins
Business: Despite heavy investments in automated manufacturing, robotics, and RPA – manufacturing is down. Restaurants, travel, movie theaters, shopping malls are already impacted. Businesses are re-writing their business forecasts for the year. Major indexes globally are in a decline. If the disruption continues, we may begin to see an uptick in company restructurings and resulting unemployment. Despite all the advances in technology, it is our ability as human beings to show up at work still seems to determine business growth.
Community: HIMMS and SXSW have both been cancelled. Olympics are a question mark. Schools are closing. Marriages are being put on hold. People are shying away from attending community events, religious gatherings, any place where we may catch the virus. People are not visiting their loved ones at nursing homes for fear of catching the infection. Handshakes, the most universal of all greetings, may disappear forever. Clearly, despite all the advances in technology, it’s the biology that still defines our ability to form a community.
People are afraid to go to hospitals and blood donation centers – creating a shortage of blood in the blood banks. Panic buying has resulted in price gouging for masks, hand sanitizers, even toilet paper! But no one is hoarding more smartphones, computers or even robots for that matter. While we have McAfee and Norton antivirus for our technology, and can quickly find an antivirus solution to most of the viruses and worms unleashed in the digital world, it still takes us more than a year to find an antivirus vaccine for humans. In my opinion, despite all the advances in technology, biology is still winning.
However, one thing is for certain. Our proclivity towards telehealth and remote healthcare will certainly receive a boost. We already are looking to get healthcare advice remotely as more and more of us self-quarantine. I have talked a lot about the future where autonomous health is the norm – as a society, coronavirus may accelerate the trend.
While we wait for the vaccine for coronavirus – please follow the advice of health agencies to wash your hands constantly; maintain social distancing (sigh!); avoid touching eyes, nose, and mouth; practice respiratory hygiene when sneezing or coughing; and if you have a cold, fever, or difficulty breathing, seek medical care immediately. In addition, drink warm water, gargle, clean your nose using a neti pot, exercise, and eat healthy!
by Ruchin Kansal – Founder and Managing Director of Kansal & Company