Technology companies with healthy balance sheets should accelerate Product Development efforts. The COVID crisis does not have to entirely be about protecting operating income.
Many technology companies threw out guidance during the March quarter. Therefore why be overly sensitive about protecting operating income and earnings? Why not accelerate Product Development efforts if doing so will provide your company with or extend your competitive advantage? Take advantage of the opportunity. The labor market is not as tight as it was several months ago. There are quality engineers and data scientists on the street. They may not be the most experienced in every case but that should not be a deterrent.
For example, consider Artificial Intelligence and Machine Learning. The data labeling process exists regardless of the economic backdrop. Why not accelerate that effort and widen competitive moats vs. competitors that are otherwise constrained by balance sheets, lack of operating experience and/or non-operating board members? Now is the time to double-down and step on your competition’s collective throat.