Covid-19: why the tech giants have emerged as winners

Amazon office

While many businesses struggle to survive under the global lockdown, the largest technology companies remain afloat and in some cases are even thriving.

Microsoft has reported a surge in usage of its cloud computing service Azure, as millions of people work from home.

Amazon is hiring an additional 75,000 workers, on top of the 100,000 it hired last month, to cope with increased demand for its online delivery service.

The number of video calls and messaging on Facebook has exploded, while a record number of gaming apps were downloaded in China on Apple’s app store.

YouTube Kids, owned by Google, was the most streamed app in the first quarter of 2020 according to a report by Apptopia and Braze, following the closure of most nurseries and schools.

Travel restrictions and social distancing rules imposed as a result of the coronavirus have dramatically increased our reliance on these digital platforms to service our basic needs, entertain ourselves and stay connected with friends and colleagues.

However, there is a dark side to their deepening grip on society. As smaller businesses and start-ups flounder, this pandemic will likely make the largest tech firms even more powerful than before.

View Full Article – published by Schroders on 27th April 2020