In the pandemic economy, tech companies are raking it in - page 4.

Twinkledoe

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Quote from: Oasisman on August 01, 2020, 10:47:02 PM

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.

I'm also wondering how much does the toilet paper and facemask companies are earning since the beginning of the pandemic.

A lot of youtubers earn good income despite this pandemic as a lot of people are stuck in front of their computers. Just like for example myself, I have few subscriptions in YT before the pandemic happens, but today, I have a lot of channels that are now following and it varies according to my interests. And I don't skip ads if I know that video is something that I support with. I don't own a channel but I find a lot of these YT channels interesting, which I haven't noticed before the pandemic. And I can say, a lot of these YouTubers are earning good income based from what they are showing to their followers. There are also new creators that are now having huge following and earnings also. You just need to meet certain reqmts to have your channel open for ads/monetization. And presto, they are earning while they are enjoying their time showing themselves to the world.

Juggy777

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Quote from: Jating on August 01, 2020, 08:05:09 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.

@Jating there’s really nothing surprising about this news because advertisers stopped spending in lifestyle and sports niche, but gaming and kids niche witnessed more spending so their books were always going to be balanced. Lastly people have consumed more videos in the wake of the pandemic, and video ads is the alternative way to earn more money for these social giants, hence if you had been studying the trends after covid began you too would not have been surprised about their revenues.

Sources:

https://www.primis.tech/insights/video-demand-supply-covid-19-era/

https://www.primis.tech/insights/publishers-leverage-video-consumption-growth-during-lockdown/

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The returns of these social services is really not a surprise, as people turn to them for entertainment during these period and they are also means of connecting businesses to customers without physical contact.

Quote from: Jating on August 01, 2020, 08:05:09 PM

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.

Most people are really not bothered by the fine print of the investigations or the outcome of these hearings, so it's unlikely it will hurt their profits especially as people have become hugely reliant on the services they provide.
These hearings also are means to get giant tech cooperations to check themselves and not really leading up to sanctions or charges. This happened during the last investigation and hearing on Facebook's poliicy; lots of emotions were shown, but it got off with just a warning.
An actual trial and sanction of these businesses would be a huge financial venture, with the companies owning lots of money to throw around to lobbyists.

Quote from: Oasisman on August 01, 2020, 10:47:02 PM

I'm also wondering how much does the toilet paper and facemask companies are earning since the beginning of the pandemic.

The toilet paper was really just a bubble during the early periods as artificial scarcirty was created, so people panicked and bought more creating even more scarcity.

Oasisman

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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.

I'm also wondering how much does the toilet paper and facemask companies are earning since the beginning of the pandemic.

Lorence.xD

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Quote from: Darker45 on August 01, 2020, 09:29:04 PM

There's still money even in wars and pandemics and other darkest days of humanity. As a matter of fact, Jeff Bezos recovered his pre-divorce worth and even topped that to reach an all-time high in the middle of the pandemic.

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.

The number of people online definitely increased which spells profits for these companies, I do think that there is nothing wrong with that, despite the high cases of virus in the US, the thing that makes these company afloat is they have customers around the world, which means that they do not have a shortage of customers unless people from around the world decided to go offline.

Darker45

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There's still money even in wars and pandemics and other darkest days of humanity. As a matter of fact, Jeff Bezos recovered his pre-divorce worth and even topped that to reach an all-time high in the middle of the pandemic.

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.

Kemarit

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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.

Jating

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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.

Topic: In the pandemic economy, tech companies are raking it in - page 4. (Read 586 times)