In the pandemic economy, tech companies are raking it in - page 2.

mezzaluna

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Quote from: Jating on August 01, 2020, 09:05:09 PM

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

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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.

Alert31

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Quote from: Jating on August 01, 2020, 09:05:09 PM

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

Quote

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.

adzino

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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.

abhiseshakana

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Quote from: ChiBitCTy on August 04, 2020, 10:23:29 AM

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.

ChiBitCTy

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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.

bits4books

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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.

Botnake

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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.

KrisAlex18

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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.

Sanugarid

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Quote from: Kemarit on August 01, 2020, 09:50:18 PM

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 Shocked

thesmallgod

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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

wxa7115

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Quote from: Kemarit on August 01, 2020, 09:50:18 PM

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.

sunsilk

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Quote from: Latviand on August 02, 2020, 01:22:37 PM

Quote from: sunsilk on August 02, 2020, 06:42:10 AM

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.

Yatsan

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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.

Genemind

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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.

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Quote from: cryptoaddictchie on August 03, 2020, 01:07:57 AM

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.

abhiseshakana

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Quote from: cryptoaddictchie on August 03, 2020, 01:07:57 AM

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/

cryptoaddictchie

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Quote from: pathapoddo on August 02, 2020, 05:44:12 PM

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.

Finestream

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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.

pathapoddo

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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.

pixie85

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Quote from: Kakmakr on August 02, 2020, 12:40:32 PM

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. Grin

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) Grin

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.

Topic: In the pandemic economy, tech companies are raking it in - page 2. (Read 517 times)