Most of the world, including President Trump, knows that the virus was officially detected for the first time in China around the 1st of January. Some reports, however, indicated that China knew about COVID back in October, as some scientists from Thailand and the Philippines started to talk about a weird type of flu.
The virus, initially known as Wuhan Virus, was quickly renamed to COVID 2019 to avoid the stigma of associating it with a city or a country. It seems that we have learned from past errors made with the so-called “Spanish Flu,“ which everyone knows the first known case originated in Kansas.
That “Spanish Flu” virus killed between 25 and 39 million people. It was a different time, and medicine was not as advanced as it is today, with fewer tools and technology to treat patients. Some people even think that the number of deaths was not properly counted, as there were not as many specific tests that we have today.
But this COVID 2019 virus came alongside many other unexpected surprises.
- Economical Crisis
- Social Crisis
We have been able to face the social crisis, caused by the world’s largest quarantine, because most of the population had a place to stay, and hygiene conditions are now more favorable than 100 years ago when people didn´t use as much toilet paper as today.
However, the economical crisis came with the worst combination possible. Fear and Selfishness.
Who started first? We don’t really know, but for the vacation rental sector, the OTA´s dealt the first blow to the sector with their flexible cancellation policies. The second blow came from payment platforms blocking or withholding funds from PM’s. The third blow may come from companies that pointed to COVID as the main reason to make employment cuts when it was clearly a cover that just happened at the right time. Other similar hits came from some people who didn´t understand the size of the problem and they tried to hide from it, as if it was possible. I am talking about mid and small size companies.
Modern Economy is based on trust. When trust is ruined, credibility is lost and things begin to turn chaotic, the opposite of stability and progress.
Who first began to generate distrust? Was it the virus? Was it the Human beings that started to take measures to protect their own interests without thinking of the consequences for themselves as well as for the market?
Did everyone think this was only going to last for a short period of time, or that we could pause the economy for 2 or 3 quarters? Is that possible? Well, it may only depend on trust.
We could have accepted losses, but not employment destruction. We are seeing losses of talent and value for companies, and rising frustration for many individuals and families. Work International Organization (WOI) says the virus could wipe out 195 million jobs due to this crisis. WTF?!
Uncertainty is understandable, but when you see that low level of trust has already cost millions their jobs, then you know who you can blame, those who do not trust and caused distrust.
“Something I have learned during this crisis is that some people made a lot of money out of this crisis ignoring the consequences of their actions.”
It wasn’t about to run away like if you saw a lion approaching rapidly… The US Government has injected 2 Trillion US$ (to provide trust). It may sound very simple, but the blame for the consequences of COVID isn´t the virus itself, but the ones who are not trustworthy and caused distrust for the others.
I don´t really know who to blame. China for being the area where the virus was born, or the Western world for ignoring the images we all saw in January and February instead of taking restrictive measures. Perhaps it is the nay-sayers, as even now some public and famous people are saying this situation isn´t as bad as it looks.
For the economical disaster, we may blame algorithms first, as computers are actually managing the world´s bigger markets. “Humans” especially the selfish ones, share the blame as responsible for this generalized distrust that came to change everything in less than a month.
Surely you have someone to blame, at least someone who is responsible for his or her actions. We have seen many different reactions from different company leaders, some of them literally shot themselves in the foot, and others used intelligent and affordable strategies based on trust and teamwork. The latter will not only go through the crisis with solvency, but they will be very well positioned once it is over.
Lucky you if you trust the ones who are near you fighting this crisis, because this will mean that you can and you will make it.