When Mental Health Goes Digital ~ Q1 2020 ~ Special ***COVID~19 *** Edition

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Times of such great global strife and uncertainty show us just how interconnected we are as a species on this Earth. The Covid-19 pandemic is not only a test of our responsiveness and resilience but also, a test of our collective humanity — how we treat and take care of each other.

More and more we are restricting travel, quarantining cities and towns, closing schools, restricting public gatherings, cancelling or postponing events, closing businesses or switching workspaces to remote work and minimizing all direct social contact, meanwhile, the stock markets are plummeting, food and supplies are becoming scarce, medical systems are at risk of being overwhelmed and it is easy to feel that the glass is hazy, cloudy and barely half full.

It is easy for us to want to descend into places of fear, panic, loathing and catastrophic worse-case scenarios as a response. Anxiety, fear and panic release Dopamine, Norepinephrine and Endorphins. You can catch and ride those waves without even knowing you are doing so. Remember, though, that COMPASSION, GRATITUDE, KINDNESS and EMPATHY release the same chemicals. And while it can be easy to fall into negative places and mindsets, we should all do our best to avoid doing so as they are counterproductive and lower our mindfulness and connectivity to ourselves and to others.

The COVID-19 global pandemic is obviously a pretty serious matter, as is its impact on local and global economies. Everything is interconnected economically from the sourcing of products and goods to their consumption. Businesses of every type will be affected over the course of this continuing global crisis.

What does that all mean for the technology startup world and, more specifically, healthcare and transformative technology funding?

Investments:

Sequoia Capital has sounded the alarm and is calling the “Corona Virus the Black Swan of 2020.” “Black swans” are rare, unexpected events that have a massive impact and heavily influence global activity.

It is most definitely going to be rough seas funding-wise as we navigate through the coming storm,“VC giant Sequoia Capital has warned its portfolio companies to brace for the impact of the coronavirus, including by revising their spending plans.”.

In order to survive the storm and the inevitable aftermath we must all hope for the best but prepare for the worst.

Startups with a hardware product and or software services having the ability to help in the midst of the storm or those that can provide assistance in the aftermath of the pandemic should fare better than most.

Philanthropy:

In the world of philanthropy, “Billions have been committed worldwide to contain the virus and address its fallout, much of that money from governments, the World Bank and other international organizations, according to data from the Kaiser Family Foundation.”

According to Lori Bezahler the CEO of the Edward W. Hazen Foundation “Philanthropy must adapt quickly to this crisis. Our grantees need us to respond immediately in this time of global health concern, financial strain, and increased uncertainty.”

GOOD NEWS ABOUT THE COVID-19 PANDEMIC:

Peter Diamandis from the XPRIZE Foundation knows that the news surrounding the COVID-19 Pandemic is not all bad. His team has researched, and fact checked the following positive news about the global pandemic.

(1) Vaccine development: An experimental vaccine developed by Moderna Inc. began the first stage of a clinical trial on Monday, with testing on 45 healthy adults in Seattle. [link]

(2) China’s new cases plummet: China has now closed down its last temporary hospital built to handle COVID-19. Not enough new cases to warrant them. [link]

(3) Drugs that work: Doctors in India have successfully treated two Italian patients with COVID-19, administering a combination of drugs — principally Lopinavir and Ritonavir, alongside Oseltamivir and Chloroquine. Several are now suggesting the same medical treatment, on a case-by-case basis, globally. [link] [link]

(4) Antibodies to the rescue: Researchers at the Erasmus Medical Center claim to have found an antibody that can fend off infection by COVID-19. [link]

(5) 103-year-old recovery: A 103-year-old Chinese woman has made a full recovery from COVID-19 after being treated for 6 days in Wuhan, China, becoming the oldest patient to beat the disease. [link]

(6) Stores re-opening: Apple has reopened all 42 of its Apple retail stores in China. [link]

(7) Test results in 2 hours: Cleveland’s MetroHealth Medical Center has developed a COVID-19 test that can now deliver results in just two hours, rather than in a matter of days. [link]

(8) South Korea’s dramatic drop in new cases: After its peak of 909 newly reported COVID-19 cases on February 29th, South Korea has now seen a dramatic drop in the number of new cases reported daily. [link]

(9) Mortality rates inflated? Experts predict that Italy has seen a higher mortality rate of COVID-19 given its significant aging population, as well as its higher percentage of COVID-19 patients with pre-existing health conditions. This might suggest that COVID-19’s fatality rate may have been slightly more inflated than previously thought for the general population. [link]

(10) Israeli vaccine development: More than 50 scientists in Israel are now working to develop a vaccine and antibody for COVID-19, having reported significant breakthroughs in understanding the biological mechanism and characteristics of the novel coronavirus. [link]

(11) Full recoveries: Three patients in Maryland who tested positive for COVID-19 have now been reported to have “fully recovered.” [link]

(12) Isolated virus: A network of Canadian scientists isolated the COVID-19 virus, which can now be replicated to test diagnostics, treatments, and vaccines. [link]

(13) Yet another vaccine in the works: San Diego biotech company Arcturus Therapeutics is developing a COVID-19 vaccine in collaboration with Duke University and National University of Singapore. [link]

(14) Treatment protocols: Seven patients who were treated for COVID-19 at Jaipur’s Sawai Man Singh (SFS) Hospital and Delhi’s Safdarjung Hospital in India have recovered. The treatment protocol will be widely scaled to other hospitals. [link]

(15) Another treatment: Plasma from newly recovered COVID-19 patients (involving the harvesting of virus-fighting antibodies) holds promise for treating others infected by the virus. [link]

The Path Forward:

It is always better to be safe than sorry and according to AngelList Sequoia Capital has outlined the following to their portfolio companies:

Get ready, cut expenses, preserve cash. Think through how much cash you have. “Do you really have as much runway as you think? Could you withstand a few poor quarters if the economy sputters?”
The money is going to dry up. Don’t count on raising money. “Private financings could soften significantly,” Sequoia warned, before adding an optimistic note. “Many of the most iconic companies were forged and shaped during difficult times. We partnered with Cisco shortly after Black Monday in 1987. Google and PayPal soldiered through the aftermath of the dot-com bust. More recently, Airbnb, Square, and Stripe were founded in the midst of the Global Financial Crisis. Constraints focus the mind and provide fertile ground for creativity.”
Prepare to survive tough sales. Be forewarned that sales might just fall apart. “Deals that seemed certain may not close. The key is to not be caught flat-footed.”
Cut advertising and marketing expenses. Take a hard look at your marketing spend. “You might find that your customer lifetime values have declined, in turn suggesting the need to rein in customer acquisition spending.”
Be prudent with capital spending. Take a look at capital spending. “Examine whether your capital spending plans are sensible in a more uncertain environment.”

Selfcare and Our Mental Health:

Selfcare is monumental during this global crisis. Make sure you take care of yourself so you are able to help take care of others.

What is self-care?

Self-care is any activity that we do deliberately in order to take care of our mental, emotional, and physical health. Although it’s a simple concept in theory, it’s something we very often overlook. Good self-care is key to improved mood and reduced anxiety. It’s also key to a good relationship with oneself and others.

The perspective we take matters more than anything else. Fear, panic and anxiety can be contagious in a highly negative manner and can lead far down the rabbit hole. Remember COMPASSION, GRATITUDE, KINDNESS and EMPATHY, take a moment and look at the amazing research being done by Neurosurgeon James R Doty MD and his team at THE CENTER FOR COMPASSION AND ALTRUISM RESEARCH AND EDUCATION.

When it comes to our mental health (both singularly and collectively), doing our best to stay on an even keel is going to be critical. Visit the American Psychological Society for some great resources or the U.S. Center for Disease Control and Prevention for resources and tips like the following:

Things you can do to support yourself:

Take breaks from watching, reading, or listening to news stories, including social media. Hearing about the pandemic repeatedly can be upsetting.
Take care of your body. Take deep breaths, stretch, or meditate. Try to eat healthy, well-balanced meals, exercise regularly, get plenty of sleep, and avoid alcohol and drugs.
Make time to unwind. Try to do some other activities you enjoy.
Connect with others. Talk with people you trust about your concerns and how you are feeling.

In closing, how we all respond to this crisis and to each other is paramount. Our perceptions and actions can be from a place of fear or from a place of compassion. If we take care of ourselves and each other a future of closer unity is sure to follow.

Be COMPASSIONATE to yourself and each other. Lend a hand; text or phone with persons you care about on a daily basis.

Be GRATEFUL for all the healthcare and behavioral healthcare workers on the front lines, for the garbage collectors, the mail delivery service providers, the restaurants keeping the lights on for to-go orders and deliveries and, for everyone else who goes to work every day to keep our global system functioning.

Be KIND and take only what you need. Help others who can’t or shouldn’t go out to get their needs met. We can’t make it through what’s coming if we deplete our resources out of fear, anxiety and panic.

Be EMPATHETIC with each other. Share how you are truly feeling, let yourself feel outside your bubble, and give others the chance to share with you. There is no time for hate, finger pointing or alienation. Especially not now.