As most of the world population is worrying and sleeping, some silent moves are changing the world forever. It may not be fair but it sure is real.
- In 2019, richest 1% of the world owned 44% and the richest 10% owned 83% of the global wealth. As virus mutates in waves, it will surely take time to come back to normalcy. During this depression/slump/tough time, productive asset ownership will keep changing hands for those who are ready.
2. As the challenge of making ends meet gets higher, finding laptops/broadband for kids homeschooling is not in everyone’s reach. Another critical wealth building driver — Skill building takes back seat. While most are facing this, some are leveraging online courses/podcasts/communities to acquire skills that can be exported globally to a world that is becoming more comfortable with remote work.
3. The populations that already had high mortgage/student loan/credit card/personal loan burden before the virus, the additional strain on finances due to virus will move them a couple of notches lower in the wealth pyramid that may change the equation to 90–10 or worse.
4. As startups flounder due to virus, the risk takers now are forced to pivot and discard mediocre ideas/business models. The most inventive , win.
5. What was bare essential/nice to have/luxury before pandemic is not the same now. Consumption patterns/preferences may change making some industries less relevant. Habit changing/making that may take decades is now forced upon and new habits are formed in weeks.
Those making digital goods are growing the fastest during pandemic and that will make the legacy industries to re-look at building capital intensive businesses.
Irrespective of the final virus impact, the global order changes and some are leveraging it , while other are just impacted. Not fair but real.
