Twitter – “we are strongly encouraging all employees globally to work from home”
blog.twitter.com
blog.twitter.com
It further states
> Working from home will be mandatory for employees based in our Hong Kong, Japan, and South Korea offices due in part to government restrictions.
I'm sure it'll decrease in the short term. Although, if this goes on long enough, it would be neat to see if people re-establish strong lines of communication and if there are any productivity gains from certain teams.
Obviously, I'm not hoping that the virus affects peoples lives longer, but they might as well get some data while there are government restrictions.
If this does turn out to be a nothingburger (seems most here think that it wont) what's the cost of a hedge/being prepared? a few hundred bucks in non-perishable food you can eat later and changed behaviors should probably be doing anyways?!
there's got to be a sensible in between panic bum rushing the store with black friday insanity and doing nothing but repeating the stupid Trump presser TPs
Like following the story, figuring it’s an asymmetric risk event and getting prepared a couple of weeks ago?
Umm, the cost of locking down an entire country? The cost would be absolutely immense.
That doesn't mean it's a bad idea, but it's not only dollars.
There is no standard concept for the value of a specific human life in economics. However, when looking at risk/reward trade-offs that people make with regard to their health, economists often consider the value of a statistical life (VSL). Note that the VSL is very different from the value of an actual life. It is the value placed on changes in the likelihood of death, not the price someone would pay to avoid certain death.
Given that humans make choices to buy things that reduce their chance of death all the time, we have many sources of how people value their own lives. Humans are often bad at this calculation, yet surprisingly their willing to pay to reduce a certain risk divided by the reduction in risk is pretty consistent in its estimate of how much people value their lives. The number comes out to around $5-10M per life or $125K per year of life.Thus, we can estimate how many people will be killed by COVID-19 versus the economic cost of trying to contain it and do a cost-benefit analysis.
I just did a quick and dirty Cost/Benefit for this purpose, which you can find here: https://docs.google.com/spreadsheets/d/1Rn9NFw-ldpUVMEM6JvGU...
High level summary: If we assume that around the same number of people as the flu would be infected annually if we did not stop it, anywhere from 10 - 45 million Americans would catch it yearly. Let's use 20M for this calculation.
Let's assume a COVID-19 mortality rate of 1% given that there are likely way more undetected cases than confirmed cases (given the current rate wrt confirmed cases is closer to 2%).
(20,000,000 cases * 0.01 mortality rate) => 200,000 deaths per year.
Most of those deaths are the elderly. Thus, they have fewer years left to live. Let's take the expected age of a person who dies to be 60. Thus their value of remaining life that is lost is $2.4M. Times the total expected deaths is $475B per year of costs simply due to loss of life.
This doesn't take into account loss of future GDP (which is less than the loss of life though) from those deaths nor the loss of GDP from people being sick but recovering.
Then if we assume that to stop the virus, we will need a quarantine as severe as China's and thus suffer extreme economic impacts, then many sectors of the economy will contract dramatically. For example, China has seen a >90% reduction in car sales year over year due to Coronavirus.[2] Hopefully a lot of that will simply be transferred to a future quarter once they have recovered, but that is TBD. For travel, restaurants, etc, it certainly isn't.
I estimated the total cost for the US GDP of containing COVID-19 as $6,605B per year if the goal it to make it extinct like what happened to SARS.
Thus, it is absolutely worth paying the one time fee of losing 1/3 of one's GDP to not pay the perpetual tax of 2.3% of GDP annually due to it sticking around.
My biggest fear though is that we will pay the one time fee with hopes of making it go extinct and it will persist nonetheless in countries with weak public health infrastructure or lax quarantine enforcement. Thus, we will end up with it perpetually anyway. That is especially likely if countries start to believe it is as it becomes a race to the bottom / self fulfilling prophecy where no one wants to take the extreme cost to fight it when other countries are not.
[1] https://en.wikipedia.org/wiki/Value_of_life
[2] https://www.bbc.com/news/business-51583348
[3] https://www.nytimes.com/2020/03/02/business/economy/china-co...
- Churchill
It is better to make claims with data (ie, administration does X, Y, and Z) and the provide reasonable interpretation (these have such and such an outcome on these segments of the population).
This is a gentle reminder that casting aspersions does not benefit anyone and may divide communities on issues that should be talked about in concrete terms. Bumper sticker politics might the status quo on most social media sites, but they have no place here.
I can also be plain counterproductive by making people suspicious of authorities, with the result of sick people avoiding registering their infections or seeking help.
That doesn't mean they're wrong, mind you. Just that, if they wanted to keep on the good side of Xi, perhaps they'd exaggerate how good his policies have been.
Assuming the Chinese figures are accurate, according to the WHO delegation that just visited China and toured 5 cities in Hubei province they are.
What government restrictions? Not sure about South Korea, but to my knowledge, there aren't any government-mandated measures in Hong Kong or Japan that require non-government employees (except school teachers) to work from home. It's up to businesses to decide what they should do.
It is also worth pointing out that not everyone can work from home. I know someone who would love to, but two autistic children under school age at home makes that essentially impossible.
Although I now realize this suggestion is entirely useless for avoiding sickness. Still useful if you want to work away from the office in normal conditions.
A WFH-if-able policy would benefit them as well, because fewer people would be at the office, reducing their risk of coming in contact with the disease.
Saying "Prepare to not leave your house at all for two weeks, and we'll give you a couple days off to prepare but get on the VPN once you've quarantined yourself" would be of much more benefit, but it's much more disruptive.
https://www.cnbc.com/video/2020/03/02/coronavirus-testing-em...
Testing is being stonewalled, false assurances are being made, and he anticipates serious disruption once the full extent of community transmission becomes clear and rears its head.
If you have a mild case of Coronavirus and are able to self-isolate, then just do it. Testing and confirming you have it doesn't change things, you'd still be asked to self-isolate.
I can see the value in people who are very sick - confirming they have the virus can inform the need for isolation in the hospital.
It might also be useful to have a diagnosis to present to an impatient boss who wants you back at work.
That's what my employer is doing now. If you're sick, work from home for 2 weeks. Don't come in.
You really don't think tens of thousands of medical doctors and experts haven't already thought this one through? They're not limiting tests because they're utter morons, they're limiting them because they are limited and they are trying to do the best with what they have.
We could import foreign tests from Korea, where some facilities are capable of producing 10K per day. The absence of testing is absolutely an unnecessary, dangerous scandal, and everyone credible on this is saying as much.
https://www.nytimes.com/2020/03/02/health/coronavirus-testin...
https://www.cnbc.com/video/2020/03/02/coronavirus-testing-em...
The CDC even deleted the testing counts from the data off their site to try and cover up the absence of testing.
That's my understanding, anyways. I'm not a health care expert.
here is an analysis of the percentage of contacts we would have to trace (paramerized on R0), to stop the spread entirely. https://www.thelancet.com/journals/langlo/article/PIIS2214-1...
(We're probably past that point now, though)
Once the dust settles, random testing for anti-bodies will probably be useful to work out exactly what happened to better inform planning on future epidemics.
Unfortunately(in this context), I don't think it'll last long enough for those changes to happen.
Long-term, one outcomes of that has been a matured approach to flexible working - The tech (if not already present) was rapidly deployed. The biggest change has been a cultural one. Everyone being forced to work remotely for a period of time killed off those little snarky comments about 'shirking from home' that previously were being made about any employee that dared work remotely. Some organisations used the situation as a springboard to push 'flexible working', made easier at the time by the prospect of moving into new offices and planning fit-outs to support it.
Working from home presents a similar trade-off for organizations as having open-plan offices. You save on office space, but you risk reducing productivity. A watershed event can take you over the cultural hump - Afterwards there's no longer a question of whether you can support flexible working, because you were forced to work through any barriers to it under urgency.
tl;dr strong external driver for something that would otherwise require an unlikely internal drive to accomplish
I'm very curious to see if/when we all get instructed to WFH though, because although WFH is allowed I doubt most people are as productive at home as at the office given how collaborative our work is. We regularly get updates on the virus from corporate so I expect it's only a matter of time.
It wouldn't surprise me if that blacklist stays in place forever. I can't imagine how much bandwidth is lost to streaming audio and video during a work day.
So the short-term fix (and probably long-term as well) is to restrict bandwidth-hogging apps from company computers.