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OFF-TOPIC Never let a good crisis go to waste

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WillHurtDontCare

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This quote exists for a reason. People are highly emotional during crises, and are therefore open to new ideas. This creates massive opportunities.

I'm not advocating being a scumbag and stocking up on medical supplies to gouge people later (those same emotional people would be happy to give you what you deserve) - I'm just saying that you can achieve a lot during periods like this.

And don't limit yourself to thinking in terms of business - think as broadly and boldly as you can about a change that you'd like to make in people's lives. You might just make it work.

Cheers.
 

Bekit

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Yeah.

Just as a simple example, the opportunities for retail arbitrage are almost endless right now.

Anything that's made in China on the shelf now at Walmart/Target?

In 3 months, it's going to be out of stock and unavailable.

While most people are busy stocking up on toilet paper and hand sanitizer, a few folks will realize that they can stock up on electronics and household goods, sit on them for a couple of months, and then resell them for a profit.
 

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Maybe this isn't what you were thinking, but it's had an impact on my life:

I've switched to working from home a lot more due to the virus. I'm not spending 2 hours a day travelling and my productivity has also gone up due to less interruptions. With the extra time I'm able to take a nice walk along an old railway line after dropping the kids at school.

I've just got a coffee beans grinder so I still have great coffee, similar to the place I stopped at on the way to work.

I've dusted off my exercise bike and kettle bells for working out at home, which are substituting for the gym right now. It's great to be able to decide to do a session on the bike when I feel the need and just be able to get on straight away.

I could have made any or all of these changes before the virus came, but I didn't...
 

Bekit

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Another huge opportunity:

I'm seeing a LOT of comments like this...

31041

This is the PERFECT time to launch your online course and capitalize on the fact that people who are curious and hungry to improve themselves might have a glorious 2 weeks in which to do it.
 

Andy Black

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Another huge opportunity:

I'm seeing a LOT of comments like this...

View attachment 31041

This is the PERFECT time to launch your online course and capitalize on the fact that people who are curious and hungry to improve themselves might have a glorious 2 weeks in which to do it.
Yeah... I’ve been thinking about all the office workers now at home with company laptops and no desire to go back into an office.
 

Bekit

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Yeah... I’ve been thinking about all the office workers now at home with company laptops and a desire to not go back into an office...
Yeah. And all the people who just lost their job because it's related to cruise ships or conferences or anything where large groups of people gather.

And all the people with jobs like factory worker or restaurant worker or delivery driver...any of the numerous roles that don't allow a person to isolate.

A lot of these people will suddenly feel the pain of their current situation and seek for a way to be free to provide value from home.
 

Andy Black

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Yeah. And all the people who just lost their job because it's related to cruise ships or conferences or anything where large groups of people gather.

And all the people with jobs like factory worker or restaurant worker or delivery driver...any of the numerous roles that don't allow a person to isolate.

A lot of these people will suddenly feel the pain of their current situation and seek for a way to be free to provide value from home.
Agreed. There’s many people feeling it right now.

An hour ago we bumped into a niece as she stepped off a bus. She’s just been to the dole offices to sign on. She worked in a childcare centre up till yesterday, and all schools, colleges, and childcare centres were shut down in Ireland yesterday. One minute you’ve a job, the next minute you’re signing on.

For me, the office worker is a step closer to being able to work from home on a computer because they’re already getting paid to work at a computer. They don’t necessarily have to pick up a new technical skill, many “just” have to learn how to get paid doing it on the side.

They’re already getting paid while working from home, so it’s likely a smaller step for them to find additional clients doing the same work that’s already putting food on the table.
 

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Maybe this isn't what you were thinking, but it's had an impact on my life:

I've switched to working from home a lot more due to the virus. I'm not spending 2 hours a day travelling and my productivity has also gone up due to less interruptions. With the extra time I'm able to take a nice walk along an old railway line after dropping the kids at school.

I've just got a coffee beans grinder so I still have great coffee, similar to the place I stopped at on the way to work.

I've dusted off my exercise bike and kettle bells for working out at home, which are substituting for the gym right now. It's great to be able to decide to do a session on the bike when I feel the need and just be able to get on straight away.

I could have made any or all of these changes before the virus came, but I didn't...

People are predicting that this virus is going to change the way big companies work forever.

I predict that a lot of big businesses will start to close some of their offices... without firing anyone. Instead, the people they hire will work from home.

Internet companies, like the ones we're involved with, have tended toward remote work for a long time. We hire contractors and even full-time employees who are required to report into meetings from home, while we only keep track of their work based on what the business actually needs. Then, we pay them accordingly.

But bigger companies haven't been doing that. They still believe in this idea that an office inspires a positive workplace culture, that having a lot of people together in one place is better to preserve the culture. They also believe in keeping track of people's productivity by keeping track of their attendance. It's the old way, from the days when a large plurality of the workforce worked in factories where they had to clock in and clock out. It's hard to let go.

Now, coronavirus is forcing some companies to close their doors to prevent spread and further loss of productivity. Some of those employees who were working from home will never return to the office again.

Unfortunately, this has a downside for employees. Companies that can no longer keep track of attendance need to keep track of total time worked. Applications like Hubstaff and Upwork's time tracker act to keep track of an employee's activity on their computer, which, if installed on the employee's own personal computer, takes away some of their computer privacy. It also takes away some of their freedom, as rules can be set on these apps to disregard breaks. So an employee that normally was in the office 8 hours a day, now has to be logged onto the computer for 8 hours of total 'working' time per day. Some of you might see this as a positive, however many employees will certainly fight against this. Companies do, however, have an interest in making sure that they're getting their money's worth out of their employees, so it's understandable why they may reach in such a manner.

This virus will certainly test productivity changes, and hopefully analysts are keeping track of productivity while employees are working from home. Studies in the past have found varying results when it comes to work from home's effect on productivity. We'll see what happens, but I wouldn't be surprised if the amount of permanent offices shrinks down as a result of the virus.
 

LPPC

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Yeah.

Just as a simple example, the opportunities for retail arbitrage are almost endless right now.

Anything that's made in China on the shelf now at Walmart/Target?

In 3 months, it's going to be out of stock and unavailable.

While most people are busy stocking up on toilet paper and hand sanitizer, a few folks will realize that they can stock up on electronics and household goods, sit on them for a couple of months, and then resell them for a profit.
I am really curious to why you think it is good to stock up on things like electronics. Currently tablelamps are being manufacturer for us in China and I am afraid that I ordered too much.

The economy will go down I think and people will buy less. Why would it be a good idea then to order more?
 

Bekit

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I am really curious to why you think it is good to stock up on things like electronics. Currently tablelamps are being manufacturer for us in China and I am afraid that I ordered too much.

The economy will go down I think and people will buy less. Why would it be a good idea then to order more?
There's a hierarchy to everything. People whose budgets are tight will prioritize the items that make the biggest difference in their lives. I would of course think through which items most people will consider the most essential.

I suggested electronics because it is my understanding that Wuhan was a major manufacturer of electronics, fiber optics, and LED's. There may be other major categories of items that were manufactured in Wuhan. I would start with figuring out (A) What did they make in Wuhan that might be severely delayed in getting to us again and (B) Which of those items solve the biggest pain points for people?
 

WillHurtDontCare

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Another huge opportunity:

I'm seeing a LOT of comments like this...

View attachment 31041

This is the PERFECT time to launch your online course and capitalize on the fact that people who are curious and hungry to improve themselves might have a glorious 2 weeks in which to do it.

This is great. I imagine that a lot more people will want to work from home going forward, and a lot of businesses will be afraid of being unable to continue operations in the event of future interruptions. Or better yet, you could help a business that is losing money now because they're under-prepared for events like this.
 

WillHurtDontCare

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Last edited:
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People are predicting that this virus is going to change the way big companies work forever.

I predict that a lot of big


We don't realize it yet, but this is going to change the world as we know it. From politics, to economics, to the way we work, there are going to be massive opportunities to redesign the way we live and do things. Hopefully, time in quarantine will end up reconnecting us to each other and we'll leave phones and social medias on the side a bit.
 

WillHurtDontCare

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There is also the potential for hospital supply shortages in the near future if a lot of people start going to the hospital in the US. If hospitals hit capacity, we could see a lot of interesting problems pop up. If someone quickly comes up with an idea for a pop up tent version of a hospital, you could make a lot of money. This actually might be more possible than you'd think, as they would be left with no choice but to relax standards with a health system at capacity.

This guy has some YouTube videos about the coronavirus. They're fairly long, but you could get an idea of problems that could pop up in the next few months.


"The United States has roughly 2.8 hospital beds per 1,000 people. South Korea, which has seen success mitigating its large outbreak, has more than 12 hospital beds per 1,000 people. China, where hospitals in Hubei were quickly overrun, has 4.3 beds per 1,000 people. Italy, a developed country with a reasonably decent health system, has seen its hospitals overwhelmed and has 3.2 beds per 1,000 people."
 

WillHurtDontCare

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Nursing homes will need dealing with issues like quarantines:

There will be opportunities to help conferences salvage their events (online conferences? local happy hours?).

Dealing with the homeless & how the coronavirus might affect them.

You could help health systems buy properties to act as makeshift hospitals for less serious cases.

 

WillHurtDontCare

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Lead generation for companies that will hire unskilled workers to work online to help the fact that a large part of the workforce might not actually be able to go to their jobs soon.
 

WillHurtDontCare

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Would be interesting to see who made money during the last pandemics.

This is a great idea. I am going to start researching that today.
 

Brrr

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Ok, so I've just received an absolute masterclass in how to make the most of this recession.

I just received a phone call from a company that helps redesign your website to add a delivery feature (I own an ice cream business for those that don't know), no high-pressure selling. The guy just called me, told me that they were getting in contact with a lot of independent food businesses and asking if they were doing deliveries through their website, he then asked me when a good time would be to have a colleague talk me through a demo. I very happily booked an appointment for tomorrow as I was going to implement this anyway, but great timing from these guys.

These guys are taking the initiative and taking the time to call people and chase business in a time when everyone else is losing their mind or being panicked into indecision.
 

WillHurtDontCare

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The guy just called me, told me that they were getting in contact with a lot of independent food businesses and asking if they were doing deliveries through their website

A friend of mine delivers pizzas and he said that he's making the most money that he ever has.

My parents said that they're probably going to order out more just because they want to help local restaurants stay in business.

There is a lot of potential in delivering anything right now. It's probably a great time to get a hold of a rental truck (or several) and move emergency supplies around.
 

Shonit

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A friend of mine delivers pizzas and he said that he's making the most money that he ever has.

My parents said that they're probably going to order out more just because they want to help local restaurants stay in business.

There is a lot of potential in delivering anything right now. It's probably a great time to get a hold of a rental truck (or several) and move emergency supplies around.
In India people are panic buying masks and sanitizers. Few weeks back I banked on this opportunity and bought masks in bulk quantity. Now I am selling them to other distributors and making a fortune. Terrible tragedy has befallen on all of us but as a business it prevents good opportunity. In my neighbourhood, I gave away the masks for free though.
 

WillHurtDontCare

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WillHurtDontCare

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A short blog on some of the ways that entrepreneurs became millionaires during the Great Depression.

 

WillHurtDontCare

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WillHurtDontCare

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WillHurtDontCare

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Mark Cuban answering questions about running a small business during the coronavirus. Regardless of his answers, here is a likely goldmine of potential problems to solve.

 

Lyinx

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There is also the potential for hospital supply shortages in the near future if a lot of people start going to the hospital in the US. If hospitals hit capacity, we could see a lot of interesting problems pop up. If someone quickly comes up with an idea for a pop up tent version of a hospital, you could make a lot of money. This actually might be more possible than you'd think, as they would be left with no choice but to relax standards with a health system at capacity.

This guy has some YouTube videos about the coronavirus. They're fairly long, but you could get an idea of problems that could pop up in the next few months.


"The United States has roughly 2.8 hospital beds per 1,000 people. South Korea, which has seen success mitigating its large outbreak, has more than 12 hospital beds per 1,000 people. China, where hospitals in Hubei were quickly overrun, has 4.3 beds per 1,000 people. Italy, a developed country with a reasonably decent health system, has seen its hospitals overwhelmed and has 3.2 beds per 1,000 people."
There is a local business that has just received a contract to do 200 hospital bed per day!!! this is way more than they could usually handle so they are hiring multiple new employees/businesses that don't have work at this time.
This is a great idea. I am going to start researching that today.
I'd love to know more about what you find.
 

Lyinx

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Thoughts after my last reply:
when everyone gets their stimulus $$$, will prices go up?

When few people are working, that means the few people that are working will be getting paid for work plus getting stimulus $$$??? Which could basically double their income...

This could be a massive redistribution of wealth, if they manage to handle it correctly.

However, if people just sit on their asses for the few months that they can't work, and just wait on government handouts, will they then suffer after people go back to work? will they be able to find work if their company went bankrupt during this time? what if their boss decided that the business life wasn't his and just walked away from it, leaving the employees without a job?

I guess my big takeaway from this is: work now, so that you can enjoy the fruits of your labor later on.
 

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