Apple and Amazon vs. the Virus
Prognosis: Misconception
Bloomberg
4.1 • 838 Ratings
🗓️ 14 April 2020
⏱️ 14 minutes
🧾️ Download transcript
Summary
Two of the worlds biggest companies, Apple and Amazon, rely on a supply chain that is spread all across the world, in many countries that have been hardest hit by the coronavirus. The tech giants employ hundreds of thousands of people so their fate, in many ways, is the fate of the global economy. Brad Stone, Bloomberg's head of global technology coverage, reports.
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Transcript
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| 0:34.8 | Welcome to Prognosis. I'm Laura Carlson. |
| 0:38.3 | It's day 34 since coronavirus was declared a global pandemic. |
| 0:44.3 | Our main story today, what the coronavirus outbreak means for tech giants, Apple, and Amazon. |
| 0:51.3 | With hundreds of thousands of employees globally |
| 0:55.4 | and a complex supply chain that spread around the world, |
| 0:58.8 | the fate of these companies tells us a lot about the world economy. |
| 1:03.1 | But first, here's what happened today. The shape of the long-term damage coronavirus has done to the global economy is starting to come into view. |
| 1:24.6 | The International Monetary Fund said that what they're calling the Great Lockdown Recession |
| 1:31.3 | will be the steepest in almost a century. |
| 1:34.3 | And if the virus lingers, or returns in waves, things could be even worse. |
| 1:40.3 | The IMF predicted in its World Outlook report that the global economy would shrink by |
| 1:46.6 | 3% this year. It would be the deepest dive since the Great Depression. In the U.S., White |
| 1:55.2 | House Economic Advisor Larry Kudlow said that the $349 billion that had been allotted to help rescue small businesses |
| 2:03.4 | in trouble because of the outbreak will run out of money as early as this Thursday. The money was |
| 2:10.9 | part of the $2.2 trillion stimulus package that Trump signed into law late last month. A plan to add an additional $250 billion to the Small Business Association program has stalled in Congress. |
| 2:26.3 | And a new report from McKinsey adds to the growing evidence that COVID-19 is taking a disproportionate toll on America's black population. |
| 2:36.0 | The disease is more likely to kill Black Americans, and for those who survive, the pandemic |
| 2:42.2 | will take a devastating toll on their jobs and future earning potential. |
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