Top 10 List: Reflections On The Coronavirus Economy

Now entering our 6th month of quasi-lockdown, it’s becoming clearer how businesses (big and small) are re-envisioning and reshaping how we’ll live, work, and play for some time to come.

And let me just add that this has been the most active and enjoyable week for me since March.

I realized this past weekend that my schedule is becoming more hectic again, I’m constantly rescheduling zoom calls as real-life meet-ups with friends for dinner become the norm. We’re even starting to celebrate birthdays again albeit with small groups of friends but more creatively and beautifully than ever. My friend, Rodrigo, planned a sunset sail for his birthday and it was sublime. Definitely a highlight of the week (see #10 below).

Scroll down to see what else made it onto this week’s Top 10 List.

1. Experiencing this year’s US Open Tennis Virtually.

It’s a work in progress but still fabulous. The most bizarre thing is hearing the piped-in crowd noises when you can clearly see the stadium is empty. Who thought that was a great idea?

Piped-in crowd noise or not, this is what I am watching/live streaming for the next 2 weeks.

Highly recommend for anyone interested in seeing how a major sports event can be retooled for pandemic times, i.e., without fans in the stands. Plus, what elements can be added/dialed up for live streaming.

Here are some of the changes I’ve noticed over the first few days:

Players have to get their own towels between games which impacts timing and can cause friction with the umpire.
Each player is allowed three people in the stands, generally a coach plus family.
Instead of a handshake or hug, players now tap their rackets in greeting
On-court large screens (Fan Cams) are utilized at the end of each match to bring in celebrity fans, e.g., Rebel Wilson as well as regular fans who can ask the players questions. It’s a bit hokey but it’s a brand new partnership between Zoom and the USTA to deliver virtual VIP Experiences.
They’re also utilizing the screens during the sets to show zoom viewers clapping and cheering – again, a bit contrived.
Winning players don their masks for short and garbled-sounding end of match interviews. With the interviewer 6ft away from the players, it looks awkward as well.
“The Suite Life” has been a really big hit with the top-ranked players allotted their own corporate luxury suites in the stadium (which usually cost companies $500,000 for the fortnight). Much better digs than the players’ lounge in the locker rooms which are now closed because of the pandemic.
Besides the major sponsors, e.g., Chase, Amex, and IBM, who have a big presence whether you’re watching on TV or streaming, I was impressed by what Grey Goose has done to promote their signature Honey Deuce cocktail. I’ve seen it popping up all over social media and also ran into this piece from Good Morning America. So kudos to my friends at Bacardi!!

The US Open broke my resolve not to watch TV. Even as I am writing this I have both the TV on (no sound) while also streaming it on my laptop. What can I say, I’ve been a huge tennis fan ever since I landed in America. I have attended virtually every US Open since the late ’70s. I’m such a rabid fan, I’d even spent a few weeks getting coached at Nick Bollettieri‘s tennis academy in Florida.

Here’s a little streaming snippet of the Naomi Osaka vs. Misaki Doi match.

Interesting tidbit: because of coronavirus, there are no ice baths available to players unless it’s an “emergency.” Both Naomi Osaka and Andy Murray are big believers in ice baths – and apparently Andy Murray was able to weasel his way into the locker rooms to take care of his post-match “ice bath emergency.”

2. Re-Envisioning restaurants for the winter

Our deadbeat mayor has signaled that restaurants in NYC may not be reopening for indoor dining until June 2021 (although Cuomo is now dangling opening earlier just to annoy him).

While many restaurants will throw in the towel, I’m hoping others will be inspired by Scandinavia and think heat lamps, yurts, and sheepskin seat covers.

I’ll even go so far as to predict there will be a run on outdoor heating lamps and tenting just as there has been for plywood and planters.

Other restaurant predictions:

Security will become a major issue. I anticipate more restaurants will hire private security guards to ward off both the homeless and potential rioters who are harassing diners. Big shoutout to Loreley, my neighborhood beer spot, for having the wonderful Shannon keeping a watchful eye on the goings-on in and around the restaurant (photo below).

QR coded menus: all the rage at many of the restaurants I’ve been to lately. I’m old school on this and prefer real menus. My friend Lily predicts that paper menus will be the equivalent of vinyl records in a few years. I think she might be right!

3. New drink of the summer: CAMPARI SPRITZ?

My friend Sheri noted recently how Aperol Spritzes have replaced Rosé as the cool summer beverage. She’s absolutely right but it also made me realize that I’d moved on from Aperol to Campari. We will see if it catches on. I have noticed that servers and bartenders get very excited when I order it.

4. How Sustainable is REMOTE WORK? (Source: Japan Times)

According to a survey conducted by the Japan Productivity Center among 1,100 workers, 20% said they were working remotely in July, down from 31% in May. However, the function of the office is changing – even in tradition-bound Japan.

Fujitsu created a concept known as a “borderless office,” to better clarify the roles of such spaces, setting flexibility, productivity, and communication as core values so that offices won’t just be a place for employees to demonstrate that they are there and working.
Fujitsu also plans to use more third-party co-working spaces as well as turn local branches into satellite offices.
WeWork in Japan has been receiving more inquiries about hosting satellite offices to cut company office costs as well.

Fast Company also published new research by Hyejin Youn, a professor at Kellogg School of Management at Northwestern University, that found that startups and other innovative companies do better when locating in the biggest city they can afford because:

Breakthroughs in innovation are best fostered in cities with a minimum population of 1 million, such as Dallas, San Diego, San Antonio, Phoenix, and Houston.
Remote working, while good for productivity, is less good for innovation.
Screen-based communication does not replicate how people interact in person when brainstorming new ideas or engaging in collective problem-solving.

5. This RESUME TEMPLATE GETS THE JOB DONE (Source: CNBC)

I’ve looked at tons of resumes over the years and this template created by Peter Yang of resumego.net is the best I’ve seen. He provides great insights into the how, why and where of all info that’s essential for your resume to get you an interview. Every detail on this resume is there for a specific reason.

If you’re looking for a job, or know people who are, give this a read. HIGHLY RECOMMEND.

6. UK Study suggests half the population craves a post-lockdown career change (Source: Cambridge Network)

Over 70% said they now think life is too short to be working in a job they hate. Lockdown had made them realize how important a good work-life balance is and 30% said that, on reflection, time in lockdown had made them come to the conclusion that they were not in a “worthwhile” career.

The nationwide survey of 2,000 British workers, carried out by The National Lottery, has revealed the extent to which 2020 has forced people to reconsider their lifestyles, with jobs and careers coming out as the number one change people now want to make.

Top of the list of career changes is charity worker (14%), closely followed by a teacher (12%)
10% said they would like to retrain as an interior designer, gardener, care worker, or social media influencer
8% said they would like to be a novelist
7% want to become politicians or shop assistants

70% of those polled said the events of 2020 have also made them reconsider their lifestyle and priorities.

75% have pledged to become healthier
47% said that lockdown had made them realize the importance of spending time with loved ones
42% said they would love to travel the world as soon as it is possible

Bob Dylan sums it up best for me

According to Brendan Schaub (on Joe Rogan’s podcast), Dylan had this to say about leading a happy and successful life:

“Success to me is not working for assholes and waking up and falling asleep each day having done exactly what I want to do.”
Bob Dylan (via Brendan Schaub)

Bottom Line: We all owe it to ourselves to do more of what inspires, motivates, and excites us.

7. The new rules of social engagement per the Tatler

Very amusing piece on how to navigate the minefield of being upper class in the age of coronavirus. Here’s the list directly from the Tatler but The Tab’s take on it is priceless (sample below):

8. Divorce rates in America soar 34% during COVID (Source: Legal Templates)

Legal Templates’ data shows:

The COVID-19 quarantine destroyed marriages in less than 3 weeks
Newlyweds were hit hardest by a significant margin
Couples in southern states were far more likely to seek a divorce
The rate of divorcing couples with children increased compared to 2019
The number of life insurance policies and payouts required in divorce settlements soared

More in-depth findings are in the source link above. Worth a read.

9. The most important thing Bill Gates learned from Warren Buffett (Source: GatesNotes)

In this week’s GatesNotes (Bill Gates’ blog) he celebrates the 90th birthday of his friend of 29 years, Warren Buffett. He credits Buffett with teaching him many things but most importantly about the value of friendship. As Warren himself put it a few years ago when he spoke with some college students.

“You will move in the direction of the people that you associate with. So it’s important to associate with people that are better than yourself. The friends you have will form you as you go through life. Make some good friends, keep them for the rest of your life, but have them be people that you admire as well as like.”
Warren Buffett

10. The highlight of the week: SUNSET SAIL TO CELEBRATE my dear friend, RODRIGO’S BIRTHDAY

Rodrigo arranged this sail around lower Manhattan with Eric Puleio, the Founder and Master Captain of Narwhal Yacht Charters. Eric restored this sailing vessel and lived on it for five years. His story of how he came to sailing and of his family is amazing (read it in the link above). HIGHLY HIGHLY RECOMMEND to all my NY-area friends.

Here’s a look back at that glorious Monday evening sunset sail with excellent friends. Thank you Rodrigo!