The market is applying the Darwinian evolution concept, hopefully adding purpose within.
Uber, Airbnb, and O2&Virgin Media are the firsts, surely not the only ones or the latest, to start designing the wave of their post-pandemic strategy. Uber and Airbnb, that have been the unicorn of Silicon Valley for the last 5 years and seen only growth in their medium-term future are now talking about shredding 30% of their workforces and relooking at their operating models. The latest news of the day comes from Liberty Global and Telefonica that have confirmed the merge of their U.K. operations creating the leading fixed-mobile provider in the country according to their respective investor relationship offices. The deal is worth 31.2Bn British Pounds and it will inevitably reshape the telecoms industry in the UK, adding to the market a real contender to British Telecom offering. I find it extremely intriguing to think if it is the Coronavirus that is pushing these industries to reshape themselves at a faster speed, or giving a further reason to executives to think at different business models that otherwise would have not gone through. I see these deals as important because they also show future commitments to the country and industry. It feels like observing Charles Darwin’s theory of evolution, which states that evolution happens by natural selection. Individuals in a species show variation in physical characteristics. ..https://www.yourgenome.org/facts/what-is-evolution. Individuals with characteristics best suited to their environment are more likely to survive, finding food, avoiding predators, and resisting disease. Nevermore true in today’s time. What is evident today, on top of the pandemic health crisis, is that we will inevitably witness an economic crisis, no one is denying anymore that this will occur. However, it is vital that we start designing what the new future could look like if we want the economy to pick up growth again and produce new solutions that can add value at the same time, to consumers and to shareholders. My only doubt is where purpose stands within the overall strategy of the future companies and if it is now the correct time to add in the new company long term strategies. The same broth will not last forever, purpose needs to sit on the wider agenda, especially now, after the health crisis and after how we have all behaved in support and respect to other citizens. I think it is important, for new ventures to brace themselves and add different values to lead this new evolution stream.