Three Things (June 14th)
Jun 14, 2021
1) Amazon’s new work-from-home policy joins trend of hybrid offices
Amazon recently revised its guidelines with a new work-from-home policy, allowing corporate employees to work remotely two days a week. The announcement comes at a time when many employers are determining the most effective approach to remote work and hybrid office policies, a deliberation amplified by data that shows remote work does not decrease worker productivity. Taking a step back, we believe that the confluence of the economic reopening and the durability of remote work will accelerate the adoption of enterprise collaboration tools this year (e.g., SmartSheet, an enterprise collaboration company held in Titan’s Opportunities portfolio).
2) Facebook acquires BigBox VR, a leading virtual reality game studio
On Friday Facebook acquired BigBox VR, its fifth virtual reality game studio. BigBox VR is the publisher of Population: One, a top ranking VR game on Oculus. While Facebook’s continued pursuit of VR underscores a broader trend, as companies compete for the next major computing platform after mobile, wide consumer adoption likely remains years away. By developing hardware and applications within their operating systems, tech companies vying for dominant positioning in the next computing wave will be better equipped to influence and accelerate the ecosystem (akin to Apple and the iPhone).
3) McDonald’s hit with data breach in its Taiwan, South Korea, and U.S. markets
Hackers have stolen customer and employee data from McDonald’s in its Taiwan, South Korea, and U.S. markets. This is yet another instance of cybercriminals infiltrating a high-profile organization (e.g., Volkswagen, Colonial Pipeline, JBS), highlighting the starkly heightened threat environment of the digital world. These events indicate to us that the adoption of cybersecurity platforms will accelerate further, driven by growing awareness from recent attacks and buoyed by secular shifts in digital and security transformation.
Cash Management
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