March 2021

Jackie Ross
Mar 26, 2021
3 min read

Hi Gang,

Big news in California: All residents over age 16 can get vaccinated starting April 15 (and everyone over age 50 by April 1)! Whew. Almost there, and what a crawl it’s been. We’ve all been reflecting on the one-year anniversary of COVID – February ski trips and happy hours and conferences. Was this floating around JPM!? How many times have you said, “Man. We had NO clue!” And let’s not forget the March shopping experience…

I went back to early issues of Vital Signs to see what we were thinking.

March 9 Survey Results

Has your company issued a mandatory work-from-home policy?

17% Yes

50% No

33% Strongly encouraged

Will you travel by air in March 2020?

33% Yes

58% No

8% Maybe (for non-business purposes)

Do you have series concerns about how COVID-19 may impact your business?

42% Yes

42% No

17% Other – “concerns, but not serious” / “robust plans in place but prolonged issues will impact our industry/economy”

If yes, in what ways do you think your business will be impacted?

Ability of people to work in labs

Patient access to healthcare/trial sites

Availability of NHPs for tox studies

Limitations at CROs (staffing, monkeys for studies)

Access to capital/venture investing

Supply chain disruptions

March 19 Predictions From Executives/Investors

Public, clinical-stage biotechs are getting hit the hardest given the disruption in clinical studies and unanticipated runway needed as a result. Pre-clinical companies have an advantage. It’s as close to ‘business as usual’ as possible, and they can (generally) afford to ride this out.
Digital health companies faced major headwinds in the past; suddenly, the value of telehealth, digital therapeutics, virtual trials, and virtual data collection has never been more pronounced. This may accelerate adoption across the board.
Bankers/CFOs are not optimistic about the IPO window, although at least one said to me, “if you can still get out, get out” (it will be getting much worse, they believe).
Most investors will sit on the sidelines until they can meet management teams in person. Funding will be delayed as a result.
It is hard to imagine companies will hire leaders they’ve never met in person.
We’ve experienced a MASSIVE talent shortage for years. That will shift, but candidates are more risk-adverse than ever before.
Virtual happy hours are the new black.

I’m really glad we got so many of these wrong (snide comment about bankers withheld). Hang in there, y’all! We’re close!

News & Resources

WSJ: From Remote Work to Hybrid Work: The Tech You’ll Need to Link Home and Office – How are your offices equipping employees for a hybrid work model?
HBR: How to Help (Without Micromanaging) – Micromanagers generally don’t believe they’re micromanaging… are you one of them?
WSJ Video: How Tech Companies Are Revamping the Remote-Work Experience – Interesting discussion on how remote work may impede innovation.

From the Community

Personal Reflection: Empathy In The Workplace – This strikingly personal post from investor Bruce Booth blew up Twitter and paved the way for more open conversations among colleagues – thank you, Bruce.
How we are staying connected when we’re apart – Industry leader Teresa Bitetti offers helpful wisdom as we surpass a year of remote work.
All Good Things Must Come To An End – Tech Tonics Says “Peace Out Cub Scout” – We will miss this health-tech podcast from digital health mavens Lisa Suennen and Dave Shaywitz!

A Little Levity