[ry_co]

I wouldn't assume everything is doing poorly. There are big winners and big losers in this economy, and the S&P 500 happens to be constituted primarily of the winners. Almost anything digital right now is gold.

There's also the fact that many companies that are doing well right now are keeping quiet about it. I know from personal experience at the company I work for (fintech midsized startup) that executives are very careful not to be openly positive about benefiting from the pandemic. Publicly admitting that you profitted by a global pandemic and an economic recession is in poor taste, and companies are rightly tentative about doing so.

From my work I've seen anything adtech related explode. Publishers or aggregators whose primary revenue stream is online advertising income are growing at incredible rates. Assuming that everyone is hurting because physical businesses are hurting is a huge mistake.

Additionally, as many analysts have been saying, the pandemics primary effect so far has been to accelerate existing trends, not create new ones. We're seeing a fast-foward in economic transition. Companies that were well positioned before the pandemic for the economy of the future (automation, digital) are doing swimmingly.