So far this week I’ve had two breakfast meetings; experienced old fashioned Joburg rush hour traffic; enjoyed a face-to-face interaction on an exciting new project; and been told office space we were eyeing is no longer available because someone has literally taken over the whole building.
South Africa is fast returning to post-pandemic normality. Sure, we still wear masks into public areas, but they’re universally dispensed with at the earliest opportunity. People are acting rationally. Daily Covid mortalities are now below SA’s daily murders. Recorded new daily infections (331 yesterday) have fallen 99% from the peak (26,485).
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We’re emerging into a new, very different world. One reflecting the classical aftermath of Schumpeter’s “Creative Destruction” theory. Covid-19 accelerated the process. Cycles that usually take years have occurred in months.
But before simply diving back into the maelstrom of life, it will help to reflect – and absorb consider these often seismic changes. I like this better informed, less prescribed world. Not everyone does (see below). Vested interests always resist the overturning of power equations, especially now talent is increasingly trumping capital. Turbulence is certain. Expect it.
More for you today (click on linked headline to access) –
* Why share investors shouldn’t become complacent despite at all-time highs. Morgan Stanley CIO is sticking with the call for a 10-15% correction.
* Absa, Pityana and the SARB – a corporate soapie. FM editor Rob Rose digs into the muck being thrown at Business Unity SA’s chairman, who is suing the Reserve Bank for blocking his ascension to the top of the Absa.
* Where are the Wuhan subpoenas? The Editorial Board of the WSJ states that (previously denied but now exposed) US funding of risky Chinese research demands an investigation.
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