Writing to shareholders this week, BlackRock Inc. Chief Executive Officer Larry Fink ruminated on how business and society will be reshaped by the searing experience of the new coronavirus: “People worldwide are fundamentally rethinking the way we work, shop, travel and gather. When we exit this crisis, the world will be different. Investors’ psychology will change. Business will change. Consumption will change. And we will be more deeply reliant on our families and each other to stay safe.”
I had a similar epiphany this week while trying to cut my own hair — it turns out my regular $30 haircut isn’t as essential as I’d thought. Preparing a meal for my family later that evening made me think that eating out or getting dinner delivered isn’t as rewarding as home cooking. Right now the do-it-yourself version also feels a whole lot safer, and probably will do for a while.
Compared with the courage shown by medical workers and those in other essential functions, and the devastation wrought by the coronavirus on already vulnerable communities, many of us in the Western world have it easy. We’re asked to do no more than stay home. But in between worrying about our jobs, our parents and how to entertain or home-school children, we’re re-evaluating priorities. What will we do differently when this is over? What will we prize more and what will we give up?