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The author of Post Corona is Scott Galloway.

Economics

Post Corona Book Summary - Post Corona Book explained in key points

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Post Corona summary

Name: Post Corona
Rating: 4 (103 reviews)
Author: Scott Galloway

Scott Galloway

From Crisis to Opportunity

4 (103 ratings)

19 mins

Brief summary

Post Corona by Scott Galloway examines the impact of the pandemic on society and businesses. It discusses the winners and losers, the changes that are here to stay, and the opportunities for individuals and nations to build a better future.

Topics

Higher Education Pandemic

Table of Contents

Post Corona
Summary of 6 key ideas

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Key idea 1 of 6

What’s in it for me? A short primer on the COVID economy.

How has the year 2020 changed your world? If you just said, radically, well, you’re not alone. Across the world, the COVID-19 pandemic turned homes into offices, moved date nights to video chat, and shut down bars, restaurants, gyms, and theaters.

But this is only the tip of the iceberg. What will the pandemic’s longer-term impact be?

These blinks investigate how COVID-19 is already reshaping our economic landscape. This insightful overview of the post-pandemic chaos shows how some industries, like big tech and platform delivery, stand to benefit from the disruption, while the hospitality, entertainment, and educational sectors have a rough road ahead.

In these blinks, you’ll learn

what happens when there are no college parties;
why we need to be skeptical of yogababble; and
how Amazon somehow got even bigger.

The COVID-19 pandemic accelerated existing economic trends.

Think back to February 2020. The good old days. You probably left your house to go to work or school. You met friends. You went to the theatre, to concerts or to the gym. Back then, coronavirus was a brief blip in the news, something very far away. And you likely didn't know anyone named Dr. Fauci.

Then, in March, everything changed. Suddenly, the virus was everywhere, from Italy to Spain to Japan to the United States. People were dying, hospitals overflowing, and schools, workplaces, and shopping centers were all shuttered. The outbreak of COVID-19 is an event of historic proportions. To slow the spread of the virus, governments all over the world had to enforce new safety measures. They asked people to wear masks and remain socially distant; businesses had to close their doors or move their operations online.

The key message here is: The COVID-19 pandemic accelerated existing economic trends.

These rules may have all been new, but their effects merely turbo-charged changes which were already taking place.

Consider the world of e-commerce. For the last two decades, this sector has been growing at a steady rate. By early 2020, about 16 percent of all retail was conducted online. Then, in March, the lockdowns came – and the industry boomed. In just eight weeks, online retail nearly doubled.

Similar upswings occurred for almost every tech-related industry. Before the pandemic, schools and universities were slowly adopting online platforms. Then, in a matter of weeks, nearly every class from kindergarten to college shifted to Zoom. Stock prices for communications tools skyrocketed.

But, as the world sped up its migration to the web, many were left behind. In the first few weeks of the pandemic, the unemployment rate in the US shot up to 13 percent. Unsurprisingly, those already struggling were hurt the most. Low-income families saw twice as many layoffs as well-to-do households.

This only made economic inequality even worse. So, what will be the fallout from this rapid restructuring of the economy? We’ll explore that in the next blinks.

The pandemic was a boon for a few well-positioned companies.

California Pizza Kitchen, Lucky Brand Jeans, and 24 Hour Fitness. What do these American companies have in common? Well, for one, they’re all bankrupt. And they’re not the only ones. In the first few months of the pandemic, hundreds of well-known, but financially sluggish enterprises collapsed.

Yet, in the face of all this failure, the stock market fared okay. In fact, by the end of August 2020, market indexes like the S&P 500 reflected a moderately positive year for investors.

The coronavirus crisis has cleared the field for the expansion of tech companies.

Let’s take a look at some numbers. In the five months between March and July 2020, COVID-19 killed more than half a million people around the globe. More than 150,000 people died in the US alone. That was a truly harrowing period.

Yet, for tech companies, that same five-month period brought nothing but good financial news. In fact, the world’s nine major tech companies saw their market value increase by nearly 2 trillion dollars.

Investors are always on the lookout for the next big thing.

In 2013, venture capitalist Aileen Lee went hunting for a mythical beast. Actually, she was looking for one animal in particular: unicorns. This was Lee’s term for promising start-ups valued at more than a billion dollars.

At the time, unicorns lived up to their name. They were rare. Ten years ago, Lee could only identify 39 companies that met the criterium. How quickly things have changed. Today, there are an estimated 400 unicorns wandering the business landscape. Forty-two of them – one in 10 – appeared in 2019 alone.

The global pandemic is finally forcing higher education to innovate.

How do you know when an industry is ready for disruption? One easy metric is the disruptability index. It’s simple and easy to measure. An industry’s disruptability goes up when its products become more expensive without really improving.

Here’s an example that’s ripe for disruption: higher education. In the past four decades, the average cost of tuition has increased by 1,400 percent. Yet, walk around any campus, and you’ll see that college classes haven’t really changed that much.

To survive this crisis and avoid the next one, we need stronger communities and better cooperation.

When COVID-19 first started spreading, scientists noticed a disturbing pattern. The virus seemed to be especially harmful to people who already had medical problems. If you were living with diabetes, asthma, or age-related issues, you were in greater danger.

Now, months after the outbreak, we face another troubling truth. As it turns out, the virus doesn’t just threaten people with pre-existing issues: societies with a history of trouble are also at risk. And, unfortunately, the United States is rife with problems.

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What is Post Corona about?

Post Corona (2020) is a ruthless analysis of how the COVID-19 outbreak has reshaped our world. This survey of the post-pandemic business landscape shows who’s benefited and who’s been harmed by the virus.

Post Corona Review

Post Corona (2020) by Scott Galloway explores the profound impact of the COVID-19 pandemic on our society and offers insights on how we can thrive in the post-pandemic world. Here's what makes this book worth reading:

Galloway's sharp analysis of the pandemic's consequences provides a unique perspective on the future of industries and the economy.
With a refreshing blend of data, anecdotes, and humor, the book keeps readers engaged while delivering thought-provoking ideas.
The author's bold predictions and actionable advice empower readers to adapt and succeed in the new normal, making the book far from boring.

Best quote from Post Corona

Many of the trends the pandemic accelerates are negative and weaken our capacity to recover and thrive in a post-corona world.

—Scott Galloway

Who should read Post Corona?

Investors looking for solid financial advice
Entrepreneurs navigating the newly unstable business environment
Anyone trying to understand the post-pandemic world

About the Author

Scott Galloway is a professor of marketing at the NYU Stern School of Business and founder of nine companies including Prophet, Red Envelope, and L2. His previous titles include The Four and The Algebra of Happiness.

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