The week that was - March 27

In an article in the Financial Times today, Amy Lewin, deputy editor of Sifted, said: "The coronavirus pandemic is a health crisis — but it is also a catalyst for a dramatic shift in how tech fits into some aspects of our lives."

How very true.

In the past two weeks in the U.S., and longer elsewhere in the world, we find ourselves adjusting to the new normal within the confines of our homes. Internet usage and data traffic continues to surge as an ever growing number of people around the world are working from home or learning remotely; families are going online, juggling between work and keeping children occupied. We are consuming endless hours of content, or otherwise, consumed by the 24x7 news feed.

With more and more industry conferences canceled, businesses are working on new ways to reach their audience virtually. While I don't believe digital conferences can fully replace live events, they can act as a way to stay in touch with customers and partners in this changing market. MX, for example, held their Banking Transformation Week recently. Adobe will be hosting their annual Adobe Summit virtually on March 31. And I expect more companies will follow.

As we are hunkering down, living days that sometimes feel like months, it is also important to start thinking about a recovery plan: What's next? What will our world look like when we eventually emerge from the crisis - how will we rebuild? As funding begins to dry up, how will startups stay afloat? As reported by the Wall Street Journal, citing data from CB Insights, capital from seed-stage funding, often the first significant source of cash for new ventures, has declined by about 22% globally since January. Much like the phoenix that rises from the ashes, will we see new business models emerge? Will we see a more inclusive innovation economy that extends opportunities to all? Will we stop chasing after the next shiny object, and start focusing on creating solutions that can solve real problems in our society?

We can draw inspirations from Village Capital, a DC-based accelerator, that supports impact-driven, seed-stage startups, along with an affiliated fund VilCap. Tune in to our latest #OneVision podcast episode via iTunes or Spotify with Victoria Fram, founding fund manager of VilCap Investments and co-founder of Village Capital.

As I wrote earlier this week: "Perhaps, when the pandemic is over, we can kick-start the economy by refocusing on what matters: the values of our society and the well-being of our citizens."

Stay healthy. Be safe.