03-02-2020, 01:07 PM
My SO works in the corporate events industry. She produces them for internal clients who run various lines of business for a financial services company. She told me today she got a call from a client asking about options to have video conferencing instead of holding a physical event that is already planned and contracted. Right after this, I learned Twitter is cancelling its SXSW presence next week and banning all "non-essential" business travel.
Think of the impacts of this. Some contracts will include cancellation fees, but all the ancillary stuff for the hotel and restaurant businesses will not happen. What if most companies follow Twitter's lead? There are so many people living paycheck to paycheck who can't afford to lose their jobs that will lose them and not be able to pay rent if business travel is stopped in a significant way. Of course, if it's business as usual, sickness spreads and overwhelms medical system, that's gonna carry a cost as well.
There are really no good choices available.
Think of the impacts of this. Some contracts will include cancellation fees, but all the ancillary stuff for the hotel and restaurant businesses will not happen. What if most companies follow Twitter's lead? There are so many people living paycheck to paycheck who can't afford to lose their jobs that will lose them and not be able to pay rent if business travel is stopped in a significant way. Of course, if it's business as usual, sickness spreads and overwhelms medical system, that's gonna carry a cost as well.
There are really no good choices available.