The Pandemic's Impact on Product Development and Startups: A Year in Review
Imtiyaz
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Hello ProductHunt community!
As we close out 2022, let's take a moment to reflect on the global impact of the pandemic on product development and startups. While some countries and individuals have recovered, others continue to struggle. Share your thoughts and experiences on how COVID-19 has influenced your work and accomplishments in this industry. Join the conversation on the challenges and opportunities the pandemic has brought to product development and startups.
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Witt Teo@witt_teo
Preliminary evidence shows that the COVID-19 crisis is considerably more profound than the 2008 Global Financial Crisis. The combination of fear of infection, public guidelines and great uncertainty produced a sharp contraction in economic activity and disrupted global value chains with a deep and widespread shock to the labour market. In addition, state-imposed lockdowns and firms’ closures have had very significant impacts, with millions of workers across many countries experiencing a reduction in, or the complete loss of, their livelihoods. As industries were forced to cease operations in order to protect the health of workers and promote compliance with mitigation and containment policies, many countries adopted widespread job retention schemes and/or income support schemes designed to support workers.
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