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The software received a fair bit of criticism for security and privacy reasons – for instance, at one point, strangers were dropping in on calls without warning. It was right ahead of the coronavirus pandemic, when a dire need for Zoom software would emerge. Its introduction to the public markets could not have been more timely. The goal was always to provide video and other chat services via cloud, for business and education purposes. The real question is, will it ever be the end of Zoom? Or does Zoom control the remote conference market? Is it capable of entering other markets? Zoom was founded in by ex-Cisco Systems Inc. Zoom is also set to come out with a VR conferencing feature in That’s all to say, if demand for video conferencing truly ever slows down it probably won’t, it will not be the end of remote work. You even have Facebook testing virtual reality VR meetings with their employees. And companies are bending over backwards to meet that demand. Many employees have even reported that they would quit their jobs if forced to come into the office.Ĭlearly, we see strong demand for remote work driving tech stocks.
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Today, one in four Americans works from home, according to a report from Upwork. But the virus did help accelerate our path there. COVID or not, telework was already set to become more commonplace. People tapped into it long after lockdowns peaked.Īnd they will continue to do so. Really, video communication only showed us a fraction of its potential that year. Somehow, the market thought this was only temporary. Save my name, email, and website in this browser for the next time I comment. Sign me up for the Money Morning newsletter.
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