Quotulatiousness

March 9, 2020

One of the economic effects of the Coronavirus outbreak might actually be bottom-line positive

Filed under: Britain, Business, Europe, Health, USA — Tags: , , , — Nicholas @ 03:00

Tim Worstall explains:

“Trade Show Portfolio – Guy Lewis Photography” by Guy Lewis is licensed under CC BY-NC 4.0

One notable thing about tech events is that they tend to be in interesting places like Amsterdam and Barcelona, and you don’t get many self-employed attending. Because someone self-employed loses days of paid hours, has to pay for the flights and the tickets. And they can get the same stuff from YouTube or various learning sites like Lynda.com. Tech events are mostly a jolly for employees in bloated companies. You get 3 days out of the office, have some fun and the boss picks up the tab. Losing this will probably improve the bottom line. And “business conferences” are mostly the same.

For people working more from home, that’s a good thing. Reduced travel costs (time and petrol), less tiredness. This is gradually happening anyway, but Coronavirus has given it a boost.

And maybe everyone realises that a system of education inherited from the time before Gutenberg, when books were a scarce resource, is perhaps in need of reform. OK, you probably need to be at a university for cutting up cadavers in medicine, but for history or computer science you can probably do most of it from your parent’s spare room.

One thing about the way people work is that they often fall into habits. Change often comes from startups and small businesses because they don’t have habits. Sometimes, they’re even anti-habit. Someone in a large company sees something as wasteful and scraps it in the new company. Microsoft let their people wear what they wanted for work, rather than suits. And gradually, those new businesses replace the old. But there’s also sometimes crises that break habits. Someone is forced to do something and gets their eyes opened. They perhaps realise that the alternative works fine, or maybe better.

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