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Microsoft is Replacing Employees with AI

Until yesterday (not literally but almost) AI was a fancy word that was too far fetched to be true so soon. I mean robots and the likes were only a thing in the movies, right? Replacing humans? You must be kidding me!

No, we aren’t kidding you because not only has Artificial Intelligence – AI started rooting itself in our minds but has also begun to create waves in the real work world. Now, these waves are pleasant for some while a Tsunami for many others.

For instance and for news, Microsoft has taken over the job of taking everyone’s job. We mean that they’ve replaced dozens of journalists with artificial intelligence. This means that journalists have been fired. We are talking about the employees who maintained the homepages on Microsoft’s MSN website and its Edge browser. They have been told (indirectly, of course) that robots will most definitely do a better job than them. Is there really a subtle way to say this? We aren’t sure.

Around 27 employees at PA Media were told that they have only a month’s time to say goodbye after Microsoft decided to make AI the star employee of the month, year, decade and so on.. and to stop employing real people to select, edit and curate news articles on all the homepages.

Is this notice too short? Of course. Besides the fact that AI has been in the news since quite some time now and there has been a lot of talk around how it will replace humans in so many ways, employees didn’t expect it to happen this fast. They also didn’t expect Microsoft to give such a short notice. They’re not surprised as they knew this would come sooner or later but they’re startled because it’s too sudden.

Humans over Artificial Intelligence AI

In defense of humans over Artificial Intelligence, one employee deemed the decision extremely risky, as the AI might not be able to deliver results as per the “very strict editorial guidelines” which can only be adhered to by humans at all possible times. Use of AI could lead to violent or inappropriate content being presented on opening the browser and there could be an underage person sitting on the other end of the screen.

Well, only time will tell who beats whom but we know one thing for sure. The fight is real. With so much happening across the world where we have a fight against racism and a pandemic, here we are in a fight against tech too! Human beings or AI? Who do you think will be the real winner here?

Unlockdown 1.0 – The 3 Cs – China, COVID & Cure!

So, the forced party is finally over. Yes, the “party” because we all were confined to our homes and the commerce and business had stopped. It was universal so we had a sense of being together in this. The plight of migrants walking on the highways and sheer mismanagement of their home journey can bring tears to your eyes at the same time put curse words for all stakeholders responsible for this. But now the economy is slowly getting the green light, while the red and orange zones are waiting in the lurch. Finally, good sense prevailed and we now have only two zones – Containment & Non-containment. Of course, the sentiments will be down to the graveyard, moving around will be cautiously done. For me, how do we open the office without being sure if the housekeeping who comes to clean the office is not COVID positive? That’s the starting point. Then comes your office boy travelling in local transport, milkman to replenish the coffee machines and other staff members who travel publicly. Will we endanger their lives and others? How long can #WFH actually work out? An ocean of difficult questions with no easy answers.

I was trying to analyze all possible scenarios which will unfold as we open our gates considering all angles. But universally, whichever country cracks the vaccine first will be the king, just praying it’s not the Chinese. “Dua” and “dard” both from China will make the world dance to the dragon.

Scenario 1 – Idealistic

Everyone wears a mask, maintains social distance, WFH continues, offices work on 10 -30% capacity, our hospitals, and medical facilities keep pace with the no’s of COVID Cases and slowly we limp back to normal. One confirmed news break from any of the 110 pharma companies globally of a possible vaccine or cure will push the economy into full throttle. If that happens to be an Indian pharma company – Serum Institute of Adar PoonaWala, for Example [haven’t you seen him suited in news channels these days?] will really put India on a SpaceX rocket which will take us towards the “superpower” colony – just like Elon Musk has successfully sent the two NASA astronauts to ISS.

And yes, China retreats from the borders and a pact is achieved wherein there’s no more claiming of Indian land in return of no more uninstall of TikToks.

Scenario 2 – Most Likely

As we open up, our COVID cases will surge through the roof – 10 lakh, maybe 20 lakh with 2-3 % succumbing to it. We will develop herd immunity and develop antibodies and by September or October, the virus will mutate and give us a real Diwali. Yes, hospital beds will be scarce, there will be mismanagement, the political blame game will be all time high, the economy and job losses will be so deep that everyone will be willing to work at 30-50% of their income with loans and defaults rising at alarming rates. By October, we get a grip and things tread back to the new normal and most likely vaccine developments show impressive results. Meanwhile, China and India continue their dog fight. Maybe a few tanks fire cannons, sorties by fighter jets on each other, show of muscle and nothing significant.

Just like when you have those street fights “Hath Laga kar Dekh” and by July end, Indo x China Bhai Bhai T-shirts begin to sell again. TikTok uninstalls continues and Micromax, Intex, Xolo, Karbonn and other earlier versions of Vivo & Oppos of the world start relaunching their smartphones. It’s possible.

Scenario 3 – Extreme Situation:

It’s July 15, 2020 and the COVID-19 scoreboard reads 50 lakh cases in India. Lockdown 5.0 gets implemented, doctors and nurses are taking the hard decision of whom to save. China versus India intensifies its fight and Pakistan, Nepal & Russia joins the party while the rest of the world backs India to corner China. There’s tension at the border and nerves are stretched. It’s a cold war but nothing happens at the end. Deaths and infections are everywhere, our medical facilities begin to collapse and there are protests and riots everywhere.

Those who lose their loved ones because of callousness, in all likelihood will lose their sanity. It’s grim news and madness everywhere and illegal sales of guns blossom.It’s the Economy which is now to be saved because suicides and poor mental state are killing more people than COVID-19.

In all of the above scenarios, by October either we will have a vaccine announcement or we will have herd immunity. Now comes the lawlessness, going outside, walking will be dangerous snatching, kidnappings will be frequent. Joblessness and poverty will push the dragon in people to fend for themselves. Now comes the Phishing scenarios – we recently faced a situation where a concentrated effort was taken to get money transferred. My accountant – Tanaya Ghosh received a fraudulent mail from my name, [E-mail ID was different] asking her to transfer. Normally, no one will check the Email-ID, just the name but her good sense prevailed and she double-checked with me. In most businesses, CFOs and Accountants are powered to make transactions of up to a capped amount.

We have to tread the next 3-4 months with caution and sanity. I have had friends who in spite of being financially well off get panic attacks even now. Our belief in the human spirit must be reinforced that’s supreme and believe in the supernatural power above you. Maybe it’s his way of resetting the climate, so we don’t have to travel to other planets to set up shop. Are you still seeing Toronto or New York from your bedroom anywhere in India?

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Irrfan Khan In Our Fondest Memories

My life is more like a blank page. I would like to fit myself in other people’s biography. I would like to take their color in mine.

A master in his art of acting, storytelling and making you feel, Irrfan Khan was one of the most treasured actors that Indian cinema had seen. His simplicity oozes out of his personality that will always leave you with a smile. From being a letter writer in his first movie, Salaam Bombay! to his latest, Champak Bansal in Angrezi Medium, we will remember Sahaabzaade Irrfan Ali Khan in our fondest memories, always.
Till then, here is a peek into his life back in 2016. We couldn’t help breaking into the make up room and have a tech chat with this superbly skilled personality. What makes him so perfect in whatever he does?
Lets find out.

Ex: What is next in line for Mr. Khan?
IK: Next in line are surprises, hopes and expectations.

Ex: Currently, any project you are working on?
IK: I would probably come to know in a weeks’ time. I might be going out of the country for a shoot.

Ex: You seem to disappear into characters you play; do you put in a lot of research into every role?
IK: Not always. It depends. If the role requires research, I do. I also get into discussions with my director. But most of my work, I do by instinct. I go by my instinct. Sometimes however, I do prepare for certain roles.

Ex: Which has been your best project till date and why?
IK: I have no idea. Shooting wise there are few which gave me pleasure but coming to the output, what will be the best, I am no one to judge. I think it’s the audience, which can claim that. For me, there are lots of films, which didn’t do well but they gave me immense pleasure.

Ex: Are you a very brand conscious person when it comes to buying gadgets? Do you follow particular brands for phones or laptops?
IK: Not at all. I see the features and go by that. However I do have a concern about the services. Sometimes a product could be great, but the services are not there, so I wouldn’t go in for that. For me, reliability is the ultimate.

Ex: Android or Apple?
IK: I have used both. The thing is I don’t like the business model of the Iphone. Things become redundant after a while. That is a philosophy that I detest. I still use an Iphone but then as a philosophy it’s alluring.

Ex: Would you invest in a not so fancy phone just because it has a better battery life?
IK: Battery does matter, but just for the battery, no. You need to have combination of features. But again, battery does matter a lot. If there is a very good product but the battery life is bad, then the product is useless.

Ex: Do you use a smartwatch?
IK: I have used an apple watch and it’s really not convenient. There is a battery issue with it.

Ex: Are you an online shopper?
IK: Yes, I used to buy DVD’s online but definitely not clothes or fabrics. Sometimes, I do order super foods online. There are various gadgets too, which I buy online. In India trust is a very shaky thing, but abroad, online shopping is a very reliable thing.

Ex: Are you into reading? Is there any book you consider as an inspiration?
IK: I am not a junkie but I do read up on things, which interest me.

Ex: Can you envisage what kind of environment it will be 10 years from now?
IK: See, we would only go forward towards convenience, not something that is totally going to change our life. Things will be alluring us again and again. I wont be surprised if somebody brings out a chip to put in your eyes or your hair with a switch on and off button.

Ex: In a biographical film of your life, who would you like to play you?
IK: I have never ever thought of writing my biography. I am not ready for it. I don’t think my life is that great enough to make a movie on. My life is more like a blank page. I would like to fit myself in other people’s biography. I would like to take their color in mine.

Ex: Tell us why do you love Exhibit?
IK: We don’t have that many magazines about technology. Its keeps you updated with new things in the market.

Ex: What does your tech wardrobe consist of?
IK: My iphone, desktop and laptop.

Ex: Do you believe in staying updated with technology all the time?
IK: If something attracts your attention, then I would mostly go for it but I don’t have a phobia. If a new phone comes into the market, I wouldn’t be dying to have it. I completely detest that. When a company allures you with nothing new, it’s the same invention with just 2-3 more features, then its pointless. If something new comes up which is different altogether and is also user friendly, I would prefer that.

WhatsApp To Soon Show Ads To Users

Facebook has been learning and consistently improving its experience for the users. The social media company is creating quite a few experiences fo it’s users right from the time it was launched for the world. In recent times, the popularity of Facebook has dipped slightly because of TikTok which is a short video creation platform, not very much alike to its other platforms like Instagram and Whatsapp.

In the recent pandemic situation, Facebook has already announced ‘Messenger Rooms’ and also announced the increase of user limit to eight on WhatsApp video calling. Now the Facebook-owned company Whatsapp will soon start showing advertisements to its users.

The move could follow soon after Facebook is done with the merging of the platforms Facebook, Instagram and WhatsApp. Since the time in 2014, when Facebook acquired the instant messaging platform WhatsApp, Facebook has been trying to draw monetary profits from one of the most popular messaging platforms in the world, WhatsApp. However, there have been internal discussions and disagreements for the same. But now, there are on and off reports of Facebook’s intention to bring ads on this messaging application.

This could soon follow after Facebook is done with integrating all of its platforms – Facebook, Instagram and WhatsApp. You could soon start seeing ads and it is only to be seen how people all over the world would receive it. WhatsApp uses end-to-end encryption for its chats and hence is very secure, The major issue of user targetted ads would be the security and how much of it will be compromised when the ads would be able to access user data.

While WhatsApp could be showing ads to those who have a Facebook account, the company fears that users could delete their Facebook accounts if they find out what is drawing the ads towards their WhatsApp. This could have a severe negative effect and at least Facebook, which has been seriously threatened by the identities of other popular social media applications should repeatedly think about.

While this appears to be a very distant thought got Facebook, for now, there could be changes in the way we see and use its other popular platforms like Instagram and WhatsApp. Merging or putting too many changes into these platforms could see a negative effect and dip in users, especially when there are other social media/short-video applications which are way more engaging and rewarding to the users. This could end up being a major threatening to Facebook’s very existence.

Motorola Announces The Bomb | To Go Ballistic In India With Motorola Edge+

For quite some time, Motorola has been just vibrating in the smartphone business. Their smartphones did capture the eyes but left people wanting for more in terms of what you would say firepower. For the techies at heart, Motorola devices are the perfect ones until one decides to flip the page over and check what’s inside.

Motorola announced their Edge+

But all of this was put to the sidewalk when Motorola announced their Edge+ smartphones recently. The Motorola Edge+ is set to launch in India, most probably in a few weeks when we would see the current lockdown situation ease. Ease in smartphone shipping and other factors could affect the launch of the device, however, the launch is imminent. The entire smartphone industry is in a very difficult position owing to the restrictions on manufacturing and shipping of smartphones and smartphone-related components.

The Motorola Edge+ and the Motorola Edge smartphones were announced last week and after many rumours and leaks, the devices have finally seen the surface. Motorola was expected to showcase the devices at MWC 2020. However, the cancellation of the event due to the COVID-19 scare left manufacturers with no choice other than online display and launches in a phased manner.

The confirmation of the India launch was indeed given by Mr Prashant Mani, Country Head of Motorola India who tweeted an official video of the Edge+ sharing some amazing details like Snapdragon 865, 5G support, 108 MP camera and a waterfall-like display which ends over the edges. Other specifications include a 6.7-inch Full HD+ OLED panel with 2340 x 1080 resolution, a punch-hole cutout for the selfie camera and 90Hz of refresh rate for the screen. The display has the support for HDR10+ playback. The Snapdragon 865 will be paired with 12GB of RAM and 256 GB of internal storage.

The rear camera setup on the Edge+ brings three cameras with a 108-MP primary sensor with OIS, a TOF 3D depth sensor, an 8-MP secondary telephoto camera with OIS and a 16 MP wide-angle camera. The rear camera can record 6K video at 30p and 4k video at up to 60fps.

Additionally. Motorola has included stereo speakers, Type-C charging with 5000mAh battery and 18W fast charging and 15W fast wireless charging. The Motorola Edge+ has been announced for $999. However, the Indian pricing will be revealed at the time of the launch.

WhatsApp To Allow 8 Person Video Group Call

Life in the time of lockdown has been depressing, especially for those who step out, go to work or even enjoy the air daily. Most people stuck/working from home are relying on a multiple number of applications to feed their necessity of chatting/calling and video conferencing.

Among all the apps that are making the roar, Zoom and Houseparty are the ones which gained quick popularity and racked up a significant number of users. But as it would be, several flaws, security loopholes and privacy issues raised alarming concerns and people soon started to look for alternatives.

Until now, WhatsApp was lagging in the game. WhatsApp only allows four persons for video calls and is a major bummer for the social bees who have a flamboyant group of friends. But worry no more, WhatsApp is adding the ability to add up to eight persons on a single video call. While this might seem less when it comes to a big group of friends, but for some of us, this just might be right enough.

What would please the people is the sheer popularity of WhatsApp and the level of security of personal data that WhatApp promises to secure. WhatsApp has been assuring security and end to end encryption for its chat and video calling services.

Google has made significant improvements to Google Meet and Google Duo which include a new layout, feature and an increased limit on group calls. This might seem less but it is enough to gain traction at a time when web traffic all around the world is just phenomenally high.

The new WhatsApp feature is expected to roll out soon, as soon as the end of April is what the info from the tweet WhatsApp head Will Cathcart put forward. This update will be available for both Android and iPhone users. Not only this, but Facebook co-founder Mark Zuckerburg also announced the soon to launch ‘Messenger Rooms’ which will allow 50 people to join together for a video call. As in the time of COVID-19 people have moved to WhatsApp and Messenger for call and video chat.

Zoom, Now Has a Rival and It Is Called ‘Messenger Rooms’

The current pandemic situation has kept most of the people inside. Apart from the people working in healthcare and essential services, people have been asked or rather say forced to contain themselves inside the four-walls if their homes.

As naturally, it would come to every one of us, being confined in the house is not exciting and this everyone is looking to connect to their friends, family and the whole world for that matter with their phones and laptops. Things like online deliver and OTT platform engagements have shot up and similarly, chat and video conferencing applications are enjoying this sudden blast of unprecedented traffic. Hence developers are taking this opportunity to develop new avenues to help more and more people connect in this current situation.

As it would be, video calling applications have seen a massive spike in their traffic. WhatsApp, Messenger, Zoom and Houseparty are the ones which are enjoying the major share of the fame now. However, each one of them come with their flaws. WhatsApp can only connect four users per call, Zoom can handle multiple user connections (100) but recently it has been subject to data hacks and private user data was leaked due to security issues. Houseparty is another solution but the sheer number of notifications it keeps pushing can irritate anyone off from using it.

Facebook, on the other hand, is learning from the situation and recently has announced the ‘Messenger Rooms’ which will allow a group of 50 people to connect on a single video call. Not only this, on Facebook Messenger Rooms, one can post links in their news feed, groups or even create event pages.

How does it work? One can simply create a room and users can join the room via their browser. The moderator or room creator can also lock the rooms to prevent unwanted people from entering which seems like a form of moderation.

Messenger Rooms is said to have Zoom-like features including the background changing effects which is done to avoid people seeing the cluttered background at times. Moreover, Facebook has added multiple filters and lighting effects to compensate for any lighting defects on video. The Facebook Messenger Rooms will be launched in a few weeks; pointing that it is currently under rapid development.

It is said that approximately 700 million people are using various applications to make calls daily. Zoom has been plagued by privacy and security issues. It has breached the 300 million user limit already. This is a massive spike in user demand and Facebook is surely taking notes while doing its homework. The video-meeting platforms have seen a massive surge in users since the COVID-19 pandemic which has forced millions of people to work from their homes.

Jio Sells 9.99% of Its Stakes To Facebook | A Deal Amounting to $5.7 Billion

Facebook’s is known for its unparallel reach all across the globe. This is not just recent but Facebook has been enjoying high levels of popularity close to a decade now, since its inception in 2006. However, with recent competitors like TikTok from ByteDance, facebook’s unparallel territory was being threatened with the massive growth surge for other services, TikTok being one of the biggest. For a matter of fact, ByteDance’s is the second-largest competitor after Facebook.

With new challenges and hurdles cropping up on FB’s way, the American giant has now has found its way to incorporate in a better way in India. In a very recent announcement by the social media company, it said to have invested a net capital of $5.7 billion for 9/99% stake in India’s Reliance Jio Platform. Reliance Jio is a subsidiary of Reliance Industries and is three-and-half-years old at present. Not only this, but it is also the biggest telecom operator here in India. The nation’s most valued firm deals with more than 370 million subscribers currently.

This deal puts Jio at a valuation of $65.95 billion on a pre-money basis. Facebook is now the largest minority stakeholder in this Indian telecom market. This is by far the largest investment for a minority stake by a tech company globally; also being the largest Foreign Direct Investment (FDI) in the technology sector in India.

The venture could see a lot of collaborations spring up in the coming days, especially the one on the cards would be Jio Mart (an e-commerce JV between Reliance Digital and Jio) which is the nations largest retail chain along with WhatsApp. India is counted as one of the biggest markets of WhatsApp as well as one of the most popular smartphone app. This essentially means that with Jio Mart and Whatsapp, they can connect with several businesses, big and small and provide product purchase experience in a seamless mobile-only experience.

Reliance Jio started its commercial rollout of 4G data around the second half of 2016 and took the local market by storm with its on-paper free services like calling, data and SMS. This also kickstarted a price war with the local telecom companies which eventually forced out a lot of competition with its sheer presence and unmatchable prices. Reliance Jio stayed true to their words and have been providing a great experience to its users with minimum costs and lots of free services in India where the market is nothing but price-sensitive, leading Jio to become the top telecom providers in India.

Reliance Jio also offers services like Saavn (music streaming platform), JioTV and payment services like JioPay.

With the recent turn of events, Facebook co-founder and chief executive Mark Zuckerberg said in a post “ We’re making a financial investment and more than that, we’re committing to working together on some major projects that will open up commercial opportunities for people across India”.

Facebook’s investment is not only restricted to Reliance Jio but also a social commerce platform Meesho and Unacademy where it wrote a cheque of $15 million each to these startups earlier this year.

In a video message, Mukesh Ambani, Chairman and MD of Reliance Industries said that “ At the core of our partnership is the commitment that Mark Zuckerberg and I share for the all-around digital transformation of India and for serving all Indians. Together, our two companies will accelerate India’s digital economy to empower you, enable you and enrich you.”

Mr Ambani also added that fact that JioMart and Whatsapp will enable 30 million neighbourhood stores (also known as Kirana stores in India) to be able to transact digitally. WhatsApp has been working with the Indian government to enable digital payments services in India which is still at large due to certain regulatory issues.

With TikTok’s blindsiding of Facebook, this move comes as a huge upper hand both in terms of reach and business for both the companies and together we can assume to witness some very interesting services being rolled out in the years to come.

8D Audio – The Newest Trend In Music?

The latest trend in online music is 8D audio which has been making rounds. Often messages pop up asking to listen to some songs from YouTube with your headphones on. Claims of experiencing a sing with your brain, rather than your ears, for an out of body experience as the sound would seem not to come from the headphones but outside.

What is 8D audio?

After listening to an 8D audio song, if you wondered how sound is completely different from normal audio. The result is surprising as it feels completely out of the world. You can make out that the sound is in the environment around you rather than coming in from the headphones. The effect is very similar when you walk around in your city and all the ambient sounds that come from all around you giving you a sense of space. You can clearly say where the temple bells are ringing, how the police van siren approaches from far away and goes past you. The sound comes from all different directions. This is the similar effect that comes from 8D audio when you listen to it on your headphones.

8D audio as it might seem is new for most people. It seems to be like a futuristic technology that allows you to recreate the feeling of music being played by speakers distributed around us. This provides a sort of immersive and suggestive experience. So yes, this is definitely a new experience but not essentially a new technology. There is no real technology behind 8D audio and neither it has any true commercial applications. It is rather an effect that could be applied to any pre-existing songs and make them sound like 8D. Also, 8D would mean 8 dimensions which are not possible.

Is 8D audio for real?

The reality is that there’s no new technology but a technique that allows hearing sounds as if you were in the middle of it. That feeling of music that runs through your head, thanks to the use of headphones, is the result of equalization techniques, panning and effects combined together. In short, panning is the ability to distribute the sound on different audio channels. If you think about your earphones, they have two physical channels: left and right. You can pan the sound all the way to the left or the right or, you can choose a specific sound to be played by one or the other earphone.

The result is the so-called 8D audio (which has no sense as the physical space where we live is mapped on 3 dimensions) that let you appreciate sounds coming from different directions. You can find on YouTube or Soundcloud this kind of audio recordings from the lowest quality where the record simply moves from left to right without a real point or, you can find high-quality records where the sound is correctly located in a specific region of the 3D space and you can clearly hear it through your earphones.

The reality of the spatial audio

An even more advanced “8D audio” is the Dolby Atmos, a technology developed by Dolby that, instead of using audio channels uses sound objects. With this technology, the sound moves around you in three-dimensional space, so you feel like you’re inside the action.

In conclusion, does the 8D audio exists? Yes, but no. Yes because there is the ability to hear sounds all around you on a 360° space; no, because it’s not a new technology and it’s definitely not called 8D audio but, we can call it more properly spatial sound or 3D audio. If you don’t own a 7.1 system or a Dolby Atmos supported system, use your earphones/headphone or you won’t be able to hear the effect.

It is no new technology but simple panning and equalization techniques that give to the sound a spatial feeling and that is what this 8D trend is all about.

https://www.exhibit.tech/wp-content/uploads/2020/04/Audio-8D.wav?_=1

Coronavirus Dramatic Impact On Luxury Sector

The Chinese consumer market is considered as the lion’s share in the luxury global market. But the virulent spread of Coronavirus 134769 cases around the world. For the international luxury industry, which relies heavily on Chinese shoppers, it’s already taking a financial toll.

The outbreak has dramatically reduced the number of shoppers in Chinese cities and made companies to shut stores. Travel restrictions also are curtailing the traditional flow of tourists to other destinations that sometimes host many visitors buying luxury goods. Chinese shoppers structure a few third of worldwide luxury spending, counting their spending inside and out of doors the country, consistent with management consultancy Bain & Company. That’s quite the other nationality.

To stop the spread of disease, travel to, from and within China has been curtailed. Stores are closed and even those that are open see a dramatic decline in pedestrian traffic . for instance, 150 out of Capri Holdings’ 250 China stores are closed, Ralph Lauren has closed half its 115 stores, and Adidas reports it’s temporarily pack up a “considerable” number of its 12,000 stores there.

The supply chain for goods beginning of China is additionally taking an enormous hit. Factories are traditionally closed for the Chinese New Year celebration, which this year was from January 25 through Groundhog Day, but in some regions, the shutdown has been extended through February 10, though it’s going to go longer depending upon the speed of infection.

But looking across China’s vast $14.3 trillion economies, Cowen’s Oliver Chen believes luxury brands are going to be the foremost impacted by the epidemic, as long as the businesses he covers depend upon China for a mean of 14% in revenues.

In particular, LVMH (17% of revenues) and Tiffany (17%) are most in danger, with Richemont (11%), Tapestry (10%), honker (10%), and Capri Holdings (6%) having less exposure there.

Farfetch is additionally heavily hooked into China, accounting for 28% of its business, but because it’s an e-commerce company, it won’t likely suffer the maximum amount as other brands relying upon in-store sales. Noting that wealthy Chinese consumers are within the habit of flying into luxury shopping capitals of the planet to form opportunistic purchases, Gandhi sees this halted, albeit people can get a flight out of the country. “Nobody’s getting to get on a plane and risk their health to shop for something.”

For some purchases, particularly the very high-end segment, he expects those purchases are going to be deferred and are available back once travel bans are lifted. except for cheaper luxury, like trend-driven fashion, those sales are lost permanently. “It’s an entirely different purchasing cycle.”

Most are relying on the Chinese luxury consumers to return roaring back after the pandemic subsides driven by pent up demand and therefore the symbolic meaning luxury brands hold for them.

“Luxury goods in China represent a way of accomplishment both at a private level but even more importantly, pride within the nation,” says the Jean Baptist Voisin who is the global strategist at LVMH. “While I’m not a psychologist, I hypothesise that the demand for luxury will increase once this ends.”

That is assuming that the consumers on which the posh market depends have jobs and remain willing to spend their income on luxury indulgences.