Big Tech Grew During the Pandemic as Reliance on Their Products and Services Grew

From the tools that we use to work, study, and play to how we interact and communicate, shop and entertain ourselves, we’re using more technology in an increase that is expected to outlast Covid-19

In the aftermath of the Covid-19 pandemic, digital commerce is experiencing a boom at unprecedented levels, taking existing tech giants from Alphabet (Google’s parent) to Microsoft, Amazon, Facebook and Apple to soaring valuations. This is in large part due to increased user adoption swiftly at scale for products and services for daily work, study and play.

Digital avenues have existed for over two decades in these areas, but the level of adoption today is considerably higher than before. Tech titans that already benefited from such use, are reaping in the benefits as people rapidly adopt technology in almost every aspect of life. Despite a painful economic downturn, demand for computers, online retail, cloud computing, video games, digital marketing and advertising and online services have soared. The shift to remote work has also accelerated purchasing of computers and associated technology and use of platforms, products and services for work.

This has resulted in monumental growth for technology giants, while traditional brick and mortar retailers struggle to survive. The combined revenue of five of the largest tech companies in the United States (Apple, Microsoft, Alphabet, Amazon and Facebook) grew past $1 trillion while profit surged lsat 24%, raising market capitalization to $8 trillion. This success has also resulted in large hiring. Amazon for example, added half a million workers - 500,000 people - in just one year, which is roughly the size of the entire population of the city of Atlanta, GA, according to data pulled by the Wall Street Journal.

While regulators seek to rein in the power and colossal wealth of these tech giants, the demand for big tech continues to rise and will outlast the pandemic in all likelihood.

Dr. Fauci Says Vaccines Will be Ready for All Americans by April

“It’s Open Season” by April for everyone to receive vaccines, according to Dr. Fauci

“I would imagine by the time we get to April, that will be what I would call, for better wording, ‘open season. Namely, virtually everybody and anybody in any category could start to get vaccinated.”

— Dr. Fauci, Chief U.S. Medical Officer speaking in an interview

Dr. Anthony Fauci, who has been on the coronavirus task force established by President Trump and now run by President Biden, serves as the chief medical advisor for Covid-19. On Thursday, Dr. Fauci said that most Americans can receive the coronavirus vaccine by April.

In an interview with Savannah Guthrie, the TODAY show’s co-host, Dr. Fauci answered a lot of pressing questions and concerns about the coronavirus and the vaccine rollout.

While states have prioritized vaccines for older people and health care workers, there will be enough vaccines available through the spring, which Dr. Fauci described as “open season.”

“As we get into March and April, the number of available doses will allow for much more of a mass vaccination approach.”

— Dr. Fauci, Chief U.S. Medical Advisor on Covid-19

While it may still take several more months to get everyone to have vaccines on their arms, with Dr. Fauci explaining that the vast majority of people in the United States could be vaccinated by mid- to late summer.

Dr. Fauci speaks with the TODAY show on Feb 11, 2021

While both the Moderna and Pfizer vaccines have shown remarkable success rates at testing and won FDA emergency use approval, the actual vaccine rollout has not been smooth with confusion and delays. The number of shots being administered has steadily grown with the CDC reporting that 1.56 million doses were given on Wednesday. This brings the latest seven-day average of vaccine distribution to more than 1.5 million a day.

The U.S. has also bought large supplies of vaccines to protect the general public and ensure that every American can be vaccinated. Both Moderna and Pfizer have been hard at work to increase production to meet demands. Other vaccines in development that may also be approved include a one-dose vaccine from Johnson & Johnson that may receive FDA approval by the end of February, and other vaccines from Novavax and AstraZeneca for use later in the spring.

Many businesses, colleges and schools have delayed re-opening their offices until the general public has been vaccinated. Others like Salesforce, the cloud computing giant, are reimagining their work schedules for their labor force, allowing flex, remote and in office options. As high as 33% of American workers are expected to continue working remotely even after vaccines are administered.

Allaying some fears about the new U.K. variant that spreads quickly, Dr. Fauci also told the TODAY show that the vaccines in the U.S. “seem to do well” against the new virus strain. He explained the importance of getting vaccinated and how people should not congregate in groups or even close family members till everyone has been vaccinated.

When asked about double making where people where a surgical mask and then a cloth mask on top, he said that it was a good idea and that it is still “prudent to wear a mask” after being vaccinated to protect others.

When Should Offices Reopen?

A Wait & See Year: Return to the workplace is unclear as more employees push reopening dates to the fall, waiting on vaccine rollouts

While many nationwide employers initially had high hopes of a quick vaccine rollout in early 2021, those hopes were dashed seeing the large scale effort required, the limited number of vaccines and other factors that have slowed down vaccine distribution. Therefore, employers have also halted plans to have millions of workers return back to their jobs in offices for the near future, with many companies refusing to set specific dates. It has become more of a “wait and see” plan with remote work continuing from 2020 for businesses all over the country, including large employers in Silicon Valley, New York, large metropolitan areas and more.

Some employers are pushing return dates back to September. Google had already planned for a delay last year, pushing return to offices in the summer of 2021.

As workers are able to do their jobs remotely, many have moved from expensive apartments and homes close to their jobs to less expensive areas. Two popular destinations include Portland, Oregon and Austin, Texas.

These delays go across industries. For example, Qurate Retail Inc., the parent company to Ballard Designs, QVC and HSN, changed its initial May return to offices to September for all locations in Philadelphia, Atlanta and other metropolitan cities. Others like TechnologyAdvice, a marketing firm in Nashville, Tennessee, have revamped plans from a return to office to a hybrid schedule for either remote or in-office work.

Large companies such as United Parcel Service Inc., based in Atlanta, and financial-services firm Fidelity Investments Inc., based in Boston, have not yet set return dates, allowing many employees to continue to work from home remotely and are using a “wait and see” approach.