The Covid-19 pandemic has changed everything, accelerating the realisation that the way we’ve lived for decades is unsustainable and unjust. The honourees on the Gen.T List 2020 are part of a community of young leaders carving out a better world post-pandemic
As you’ve probably noticed, things have changed. The advent of Covid-19 has shaken up just about every aspect of human life. It’s also accelerated a lot of changes that were already happening, from remote working and reduced travel to increased digitisation and growing inequality.
Some of those changes will be permanent. The Black Death of the Middle Ages, for example, so devastated European worker populations that it effectively ended the feudal system and kick-started the Renaissance. The challenge is working out which of them will constitute what global consultancy firm McKinsey has been referring to as “the next normal”. As Ruth Shapiro, chief executive of the Centre for Asian Philanthropy and Society (CAPS), puts it: “We’re in the midst of being hit by a truck, and it’s difficult to forecast what life will be like after.”
While the global economy is taking a gigantic hit, the pandemic has benefited some sectors: the medical industry, for example, along with just about the entire digital sector and the delivery companies that serve it. Says 2020 Gen.T honouree Ruby Chui, founder of consumer insight consultancy Brandnographer: “We’re definitely seeing a pattern of change in how people shop, eat and learn. This pandemic has urged us to overcome barriers and try something new. I see a lot of opportunity here. The major beneficiaries are likely to be tech companies.”
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Fellow 2020 honouree Jaeson Ma, who among many other things is founder of talent and brand strategy firm East West Ventures and co-founder of record label and management company 88rising, says that he’s never ordered more online in his life, adding that one of his businesses, Tik Tok rival Triller, has seen a 300 percent rise in uploads since the pandemic hit. “I’ve been more productive during the pandemic than in the past 10 years of flying around and being stuck in traffic,” he adds.
The nature of the workplace has been transformed, as people have tried remote working and found that it’s doable. This will have a long-term impact, says Joe Ngai, managing partner of McKinsey Greater China. “Certain industries will realise: why do I need this big office? We’ll find physical space is a bit of a luxury.” It could also spell the end of hot desking and increase work flexibility, according to 2020 honouree Medhy Souidi, head of fintech and the StartupXchange accelerator for Singaporean bank DBS. “Bustling offices with multiple people using the same desk space [are] hotbeds for transmission.
Many businesses may need to stagger work shifts so that offices and factories don’t become too crowded.” All of this, of course, only applies to knowledge workers, pointing out the pandemic’s most unfortunate potential long-term impact. As Ngai puts it: “From a social inequality standpoint, it has put more people at a disadvantage; the impact has been disproportionate on people who rely on physical labour. I hate to say it, but there’s a little bit of the strong get stronger and the weak get weaker.”