The wyDay blog is where you find all the latest news and tips about our existing products and new products to come.
Firstly, I wish everyone safety and good health during this international health crisis. Stay home if you can.
In the United States (where this company and all of its workers are based), the bungled non-response from the Trump administration to this biological threat will, at the very least, bring on an economic recession. And, depending on the details of an economic bailout (size, structure, etc.), might also cause an economic depression.
There might have been an economic recession even with an intelligent, considerate President that took advice from experts seriously. But because we currently have a lying ignoramus as President the world is reaping the “benefits” of that choice.
Economic considerations are, and should be, secondary to the health and survival of every single human on this planet.
But because we’re a service that companies depend on, we need to talk realistically about our company during an “economic downturn”. Or, to put it bluntly, I need to be callous and talk about money when people’s lives are still at risk.
Our company was formed and started selling products before the “Great Recession of 2008”. We started with very low overhead and grew during a period of time that a lot of businesses were shrinking or going out of existence.
Surviving and growing during bad economic times is in our DNA. We have no debt. We have no VC funding. We have very low overhead. We’ve always had a 100% remote workforce. And we have cash reserves large enough to continue to grow during an economic collapse — an economic collapse that has already begun. During “good times” these choices slowed our growth. During bad times these choices ensure our survival.
Once the dust settles, and it becomes clearer just how bad the economy will get, we’ll resume hiring.
In the meantime, we’ll continue to develop and release our products at the same pace and quality has before (deliberate pace, high quality).
I wish everyone safety and health.
– Wyatt O’Day
Founder & CEO of wyDay