/2020chronicle

Banking on the Quarantine

Here are a few tech companies doing very well during quarantine because of their services to support remote workers:


1. Citrix Systems, owners of join.me, GoToMeeting, XenApp and other application services supporting remote workers and collaboration. Almost all hospitals publish medical applications via Citrix XenApp as well.
2. Microsoft. Thanks to Sharepoint, Office 365 (now “Microsoft 365”, and most importantly Skype.
3. Slack.com. The most prominent corporate collaboration tool in use by most enterprises.
4. Zoom Video Conferencing. If you can log in. Their servers were slammed on Monday and Tuesday but they have increased back end resources dramatically over the last 48 hours, thanks to a dump truck load of cash put in their driveway this week.
5. Cisco Systems. They probably sold more AnyConnect remote access VPN licenses in the past 2 weeks than they sold in the past two years. Hoping I don’t have to buy more!


There are a lot of non-tech companies profiting from this too. 3M, Dupont, very smart of GM and Ford to start making ventilators since their auto production lines are shuttered. It’s not 100% doom and gloom but I you’ve got to feel for those who made a decision to start their own business within the last couple of years. Then there are the gig workers and the bars and restaurants they rely on = 60 days or less until desperation and panic mode.


One big lesson US small business operators should learn from this situation: A couple thousand isn’t enough, start thinking in terms of tens and even hundreds of thousands in reserve before hiring full time employees. Any company that can’t pad one month of business downturn has no business hiring at all.

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