It’s no news that the C19 pandemic has caused a sharp once-in-a-lifetime business downturn. Like consumers, businesses everywhere have abruptly retrenched, reducing their household or operating expenses and postponing new outlays in order to conserve resources. Despite this newly hostile environment, tech companies that plug serious leaks in their customers’ critical business processes can still prosper, while those whose products are seen as non-essential “vitamins” are suffering. So what critical leaks do you solve in your customers’ “leaky pipe”?
In recent weeks Zoom has rapidly overtaken competitors to become the videoconferencing app of choice for business, government, and individual users as a result of the confluence between the Covid-19 pandemic and the massive spike in demand for an effective way of staying in touch with loved ones or conducting meetings from enforced social distancing or self-isolation in their homes. What explains Zoom’s success, and what risks must Zoom avoid if it is to solidify its leadership?