Companies with red swan logos upgrade#
Companies with red swan logos full#

Companies with red swan logos upgrade#

The pandemic was a time to hunker down and upgrade the nest. Those with disposable income will vigorously spend it on experiences - travel, restaurants, bars, hotels, live music, outdoor living, extreme sports - while curbing the purchase of high-end material goods and in-home entertainment, including broadband internet access and streaming media services.

Spending patterns will change permanently, with businesses catering to commuters and urban workers continuing to struggle. Employees who proved they could do their jobs remotely will resist coming back to the office, forcing employers to make hybrid workplaces the norm.As one tech worker who quit her job at Expedia to work for solar tech company Sunrun recently put it, 'You just realize there's a little bit more to life than maxing out your comp package.' The last vestiges of employee loyalty will disappear as more people seek fulfillment ahead of pay.

Dedicated urban dwellers will find reasons to switch cities, creating more churn and reducing community bonds.

Overstressed workers will continue to flee urban environments for the suburbs and countryside, and exurbs one-to-three hours' drive from major cities will see an upswing in property values and an influx of residents.

People will move more for lifestyle and personal reasons rather than to chase jobs.

Workers in lower-paying jobs will demand more dignity and higher wages from their employers, and be more willing to switch jobs or quit cold if they don't get them.

The labor market will remain tilted toward workers.

Older workers will continue to leave the workforce as soon as they can afford it, spending less over the long term to maintain their independence, and stitching together freelance or part-time work as needed.

How might that manifest itself? In a decade, how will we look back at the 2020s? It's not surprising that the CEO of Yum Brands, which owns Taco Bell, KFC and Pizza Hut, can't either. They're instead seizing the moment and following their whims.Ĭonsumers aren't acting rationally, and economists can't make sense of their behavior.

Companies with red swan logos full#

And much like the 9/11 terrorist attacks in 2001, the full economic and societal effects won't be understood for years.Īmericans experienced the deaths of family members and friends, long-term isolation, job changes and losses, lingering illness, urban crime and property destruction, natural disasters, a presidential election that much of the losing party refuses to accept, and an invasion of Congress by an angry mob, all in under a year.Ī lot of people are dealing with that trauma - and the growing suspicion that the future holds more bad news - by ignoring propriety, ignoring societal expectations and even ignoring the harsh realities of their own financial situations. The pandemic shock turned 2020 into an epoch-changing year. do something else, although it's not always exactly clear what.Ī shrinking economy typically doesn't come with high inflation and a red-hot labor market. Reddit is filled with threads about people quitting low-paying jobs and abusive employers to. The labor movement is having its biggest year in decades as retail workers at Starbucks and warehouse laborers at Amazon try to use their leverage to extract concessions from their employers. Restaurants are facing a dire worker shortage. Delays are common as airlines can't find enough pilots and there aren't enough rental cars to satisfy demand. Travel is back to nearly 2019 levels, although it seems to be cooling as the summer wanes. The travel and hospitality industries can't find enough workers. Downtown San Francisco doesn't quite have the ghost town feel it did in February, but still has vast stretches of empty storefronts, few commuters and record-high commercial real estate vacancies, which is also the case in New York (although Manhattan feels a lot more like it's back to its pre-pandemic hustle).