Page 156 - COVID-19: The Great Reset

can also take a different form, by combining in-person and online
study within one curriculum through online chats and the use of

apps for tutoring and other forms of support and help. This has the
advantage of streamlining the learning experience, but the
disadvantage of erasing a large aspect of social life and personal
interactions on a campus. In the summer of 2020, the direction of

the trend seems clear: the world of education, like for so many
other industries, will become partly virtual.

2.2.3. Resilience

Effects on big tech, health and well-being, banking and
insurance, the automotive industry, electricity

During the pandemic, the quality of resilience, or the ability to
thrive in difficult circumstances, gained “must have” appeal, and
became the go-to buzzword – everywhere! Understandably. For

those fortunate enough to find themselves in industries “naturally”
resilient to the pandemic, the crisis was not only more bearable,
but even a source of profitable opportunities at a time of distress
for the majority. Three industries in particular will flourish (in

aggregate) in the post-pandemic era: big tech, health and
wellness. In other industries that have been hit hard by the crisis,
proving resilient is what will make the difference between
bouncing back from the COVID-19 sudden exogenous shock or

falling victim to it. The banking, insurance and automotive sectors
are three different examples of industries that have to build
greater resilience to pass through the deep and prolonged
recession caused by the health crisis.

By and large, big tech was the resilient industry par
excellence, for it emerged from this period of radical change as
the biggest beneficiary. During the pandemic, as companies and
their customers alike were forced to go digital, accelerate online
plans, take up new networking tools and start working from home,

tech became an absolute necessity, even among traditionally
reluctant customers. For this reason, the combined market value
of the leading tech companies hit record after record during the

lockdowns, even rising back above levels before the outbreak
started. For reasons expanded on elsewhere in this book, this

155