Monday: Fewer than 100 COVID cases reported in US, but uncertainty increasing. Over the weekend we shut down the Tokyo & Osaka offices, put travel restrictions in place and cancelled our annual Global Sales Offsite, a long-planned 800-person event.
Monday: Trading halts six minutes after markets open on a 7% drop in the S&P 500. Everyone learns that the markets have circuit breakers built in. VIX spikes to highest since Oct '08. Suddenly the macro environment seems dizzyingly uncertain.
✋ Large enterprises were sure to clamp down on spending, our EBCs were closed, salespeople couldn’t travel, no in-person meetings for training programs, and more we couldn’t yet imagine.
And on the other:
👋 Those same customers needed Slack more than ever.
👋 Early signs of a surge in teams created and new paid customers unlike anything we had ever seen.
✋ We had 110,000 customers. In the worst case scenarios many thousands of those would go out of business.
But we literally have no idea what is going to happen and neither does anyone else, really. The error bars on any prediction will be miles wide.
The news is worse and worse. The pandemic spread further into France and Spain. Lockdowns started across the US. Several realities are starting to sink in.
By last Tuesday, halfway through Q1, we had added 7,000. Yesterday, a week later, we crossed the 9,000 mark.