Move online to survive – business’s new mantra

Among the advantages of hosting the Biznews Share portfolio is how it pushes me into unusual places which are often the best places to learn. Among them the quarterly investor calls of US-listed stocks which are easily sourced through YouTube and always deliver a lot of valuable information.

Spotting the next Jeff Bezos is also made easier when you’re able to actually watch people like Reed Hastings (59) of Netflix or Daniel Ek (36) of Spotify handle tough questions. Another who could join this elite group is Matthew Prince (46), co-founder and CEO Cloudflare, the world’s dominant Internet security business.

In Cloudflare’s earnings call this month Prince said that given the state of the world, he felt weird reporting strong financials (revenue up 48%, profit margin of 78%), but explained “Undoubtedly the superheroes of this crisis are the medical professionals and scientists… but the faithful sidekick, the Ant Man to Captain Marvel, has been the Internet on which all worldwide have leaned more than ever before.”

Prince described recent growth in Internet use as “unprecedented – we saw as much in 12 weeks as we have seen in the previous 12 months… Internet traffic nearly doubled through March and April versus the beginning of the year.” Businesses of all sizes, he said, are moving online to survive. Sounds like a mantra for managers everywhere. SA included.

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