The pandemic is accelerating existing trends to digitalize. We further concentrated on technology businesses that benefit from current developments and that provide winning platforms in e-commerce, cloud computing, gaming & e-sports, digital payments, and machine learning.

On April 27th, Loren Padelford, Chief Technology Officer of Shopify, the e-commerce platform, tweeted ‘this crisis is a time machine that brought 2030 to 2020. It accelerated the digital transformation on many enterprises who weren’t ready. We have helped thousands of large retailers unshackle from legacy systems and start writing their next chapter.’ Over the past month, Shopify experienced strong volumes every day. Heinz and Lindt, amongst others, announced their online stores on Shopify to build direct consumer relationships.

On April 29th, Satya Nadella, CEO of Microsoft, said ‘As COVID-19 impacts every aspect of our work and life, we have seen two years’ worth of digital transformation in two months.’

While there is a large audience for doomsday scenarios about the virus, unemployment, corporate defaults, government debt, money printing, etc., the intelligent strategy is to co-own a focused selection of great companies that will thrive.

The strong businesses seem to emerge stronger from this crisis.

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