In 25 years of building technology companies, I have never seen anything like the economic fallout of COVID-19. When the dot com bubble of the 90's burst, many people lost their fortunes, but the world moved on. In 2008 when the mortgage crisis hit America, many companies were wounded but most recovered. Now in 2020, as we face the worst pandemic of our lifetimes, businesses around the world are closing their doors to protect themselves, their employees, and their customers.
What does this mean for data privacy and compliance?
As recently as a few days ago, attorneys were filing class-action lawsuits against companies for violations of California Consumer Privacy Act (CCPA). Today the California Attorney General announced that they would not be delaying prosecution for breaches of CCPA. Data privacy remains a mission-critical component of any modern business, even during a global pandemic.
What does this mean for Osano?
I debated the need to draft a COVID-19 response for our customers in the face of my own inbox overflowing with explanations of how companies are managing during this difficult time. However, thousands of companies rely on Osano, and it has become clear that we need to address any concerns that may exist.
Many companies have suddenly been forced to adopt a remote work approach for the first time. This rapid shift has left many companies discovering first hand how difficult it can be to manage remote teams.
Osano is now and always has been an entirely remote company. While many other companies are currently learning how to manage remote teams for the first time, Osano has already implemented these processes.
Osano is well funded with many years of runway and positive gross margins. While other companies may be giving away Ducati motorcycles at conventions and buying Superbowl ads, Osano has always made capital-efficient growth a core of our operating philosophy.
All of this is a long-winded way of saying that Osano is in great shape. This virus and the downturn in the economy have not changed our daily work habits in any way. Rest assured that there are few companies better equipped to respond to this new work-from-home lifestyle than Osano.
From all of us at Osano, thank you for your business. We are excited to continue supporting you and look forward to continuing our rapid growth. Stay safe out there.