Operating at a loss is ok while the market is up. Not so much now.
Inspired by Silicon Valley, many companies adopted the growth-at-all-cost mindset.
And then, we saw consequences.
“In late March, one of Uber’s self-driving vehicle was involved in a fatal accident in Arizona.
The company compromised on safety issues due to the pressure to live up to a goal – to offer a driverless car service by the end of the year and to impress top executives.” – Renata Quintini
During this pandemic, these growth-at-all-cost companies were the first ones to layoff employees. With no cash in bank, they couldn’t possibly stay afloat.
Once coronavirus is over, I believe knowledge workers will re-think where they would wanna work.
Before applying to a company, they would look at their finances – does the company have enough cash to sustain another downturn in future? Will the company keep them around when faced with difficult times?
Prashant Bagga 