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Coronavirus Effect On Your Money

By Kunika Agrawal • 23 April 2021
Personal Finance
  • Personal Finance

The world has never seen a situation like the COVID - 19 Coronavirus pandemic.

 

Amongst a flurry of Coronavirus news, something that is not reported enough, is the impact that the virus has on markets, trading, businesses, money, stocks, and finances. Is this the time to invest in certain stocks? Time will tell, but one thing is for certain - This will affect you and your Investments.

 

On the Coronavirus COVID - 19 special episodes of The Ranveer Show, we feature Yash Talreja, a close childhood friend of Ranveer. This interview was taken in April, 2020. Yash is one of the best business brains that we have seen. He is an economics major from the University of Toronto, but more importantly, he’s a young, savvy Entrepreneur who has a knack for multiplying money.

 

The only advice you need in this pandemic. Hope that you enjoy this money-oriented and news-oriented special on the Financial Effects of the Coronavirus.

 

Yash and Ranveer

 

COVID-19 and Content Industry:

 

Ranveer - So, firstly I would like to highlight the fact that my Industry has benefited a lot from it - which is the Content Industry. Because people are sitting at home, watching YouTube, watching Netflix, reading through tweets, etc. We as Content Creators have been told to generate a lot of Content, but we can’t because very soon public transportation in Mumbai is going to shut down. But, I guess that all the other industries are taking a hit. So, I want to ask you what kind of impact is it having on Industries other than the Content Industry?

 

Yash - I mean it’s pretty far-reaching like, you are reorganizing the conditions under which these markets operate, right? Now suddenly if a lot more people are going to stay home, then you know the dynamics of people change. So like you said that people are going to stay at home and be able to work from home. Then Content is going to be a big thing. But stuff like travel, manufacturing, trading, and a lot of those things are going to be adversely affected. In the travel industry, airlines have taken such a huge hit.

 

Ranveer - And also, I have been told, that this is also the right time to buy certain shares, like in the content industry, I just had one of the mentors actually, talking about how you should be totally investing into OTT Platforms like Netflix, Disney and Hotstar going forward because what’s gonna happen now is - People are staying at home, they are gonna discover a lot more content on Netflix. The content that was already there, will get discovered now by a newer section of the society, who was earlier not on OTT. And then, those people will continue watching it, even after the situation leaves us.

 

Yash - That’s what is essentially called a change in Social Dynamics. If I am a consumer in the economy, if I am spending on certain things like - going outside with my friends, or going to a restaurant, so my spending is now redirected. Maybe I can spend more now. Maybe I can spend on buying another subscription because I obviously can’t go out and spend in the restaurants for leisure. So, clearly, it’s a reorganization and some things will definitely benefit as you said. People are talking about hygiene products manufacturing company's sales going up. So, definitely all that is happening.

 

yash and ranveer

 

COVID-19 Impact on other industries:

 

Ranveer - What other products do you think will benefit?

 

Yash - People are talking about soaps, people are talking about hand sanitizers, Dettol, all those things are going into shortage.

 

Ranveer - The E-Commerce Industry’s gone up a lot. People are basically buying a lot of products online. They don’t want to go to physical retail stores to purchase, because they don’t want to get infected.

 

Yash - And you know, for example, we have Uber, Ola, we have like you know ride-sharing platforms, they are gonna take a massive hit. If people are on lockdown, then they can’t travel. And the drivers of a lot of these companies are basically contractors, they get paid per ride. So they are gonna have a tough time with their livelihood. But, yes, governments are helping out. It’s not that the markets are left to their own devices. There have been Aid Packages for airlines all over the world.

 

Ranveer - What do you mean by Aid Packages?

 

Yash - It basically means that the Government is helping them. Because suddenly, it’s not a normal circumstance, right? So usually now we are heading towards Spring - Summer, it’s usually that time wherein the world heads towards vacations and travels. But this time, airlines are not gonna go anywhere. Plus there are travel bans. Flights coming from Europe aren’t allowed in the US, there’s gonna be no flights back from the US to Europe. So, things like that are going to impact the Economy. Hopefully, it will smoothen out soon. 

 

Ranveer - Specifically, for the E-Commerce Industries, we actually have one of our Business Mentors, Mr. Manish Chaudhary, he runs Wow Skin Science, which is one of the biggest FMCG brands in India, it’s an upcoming brand. He did well on Amazon, till now, like really well, they have built out their entire brand through Amazon. But because Amazon itself has got such a big boost, people are spending so much time on the Internet, his brand was already big there. So, now it’s taken off to a whole new level. He’s doing really well, so that’s the effect that’s been on his business.

 

Ranveer - I’d also like to suggest something on a Human Level. This is one of my great learnings of life, in the last year - Everyone perceives money differently. What Rs 500 may mean to you, may mean a lot more to your Uber Driver, or to your Watchman, or someone else. This is that moment in Human History wherein you kind of let go of selfishness as well, and you know, put money out there in the Indian Society. If you feel that someone is running short of money, then go help a friend, go help someone who really needs money. If you are going out in a Cab, don’t ask for that extra 10 - 20 bucks change. Basically, let money spread out.

 

Yash - See, rightly as you said. It’s our responsibility to help the vulnerable. By vulnerable I don’t just mean from the health perspective, I mean from the financial perspective as well.

 

Watch The full video on YouTube

https://youtu.be/zYGzemJSP8U

https://youtu.be/OJ1uUxoAYBM

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