When I look at the technology sector and the broader markets, the word that comes to mind is “resiliency.” In its most basic sense, resiliency refers to your ability to bound back and recover quickly from unexpected shocks or setbacks.
On a deeper level, resiliency depends on a complex network of feedback loops that kick in and help the system restore its balance. A resilient system can “reboot” itself after a disaster or calamity, and return to its previous state.
I’m truly grateful to see the strength and resiliency of the technology sector. From my perspective, our resiliency enables us to play a positive role in leading the ongoing recovery.
I recommend reading Thinking in Systems by the late Donella H. Meadows, in which she explains at a high level how systems work and evolve over time. Not surprisingly, resiliency is a central principle and core strength of successful systems.
The power of resiliency was on display this morning, as global markets responded to rising numbers of reported COVID-19 infections worldwide.
“A surge in coronavirus cases in the U.S. and Brazil, and further outbreaks in Germany — where the reproduction rate of the disease has risen substantially — are concerning global health experts, but international financial markets don’t seem too worried,” writes Holly Ellyatt of CNBC, noting that “U.S. stock futures rose early Monday morning following a solid weekly performance on Wall Street.”
In my column last week, I mentioned a CNBC article quoting Goldman Sachs analyst David Kostin, who describes the technology sector as the ‘unrivaled market leader’ of the year so far. Kostin’s perspective is reassuring, and it supports my longstanding contention that now is truly the best time to be a technology executive.
Despite the turbulence resulting from the pandemic and social unrest, I am optimistic about the role of technology and its positive long-term potential for elevating the lives of billions of people all over the world. Our systems have demonstrated their resiliency, and I am confident that we will regain our balance and continue moving forward.
The takeaway here is stay on course and don’t lose your focus. Our economy is both resilient and robust, and my instinct tells me we will emerge this storm as a stronger and wiser society.
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