How much money did having a solar eclipse cost?

In Business by Scott LumleyLeave a Comment

Infrastructure is the baseline for a successful business.

 

The solar eclipse was a once in a lifetime experience…but it sure was an expensive one. When something like a solar eclipse happens, businesses shut down and the impact can be massive. Most Americans were not working during the solar eclipse. Depending on the size of the company, it can literally cost millions just to shut down shop for a half a day. So how do you prepare for something like this? Infrastructure. You have to be prepared at all times for something like a solar eclipse to happen. That all comes back to infrastructure. If you don’t have the right infrastructure in place, it can really stall a business and have major pitfalls. Millions of businesses were not prepared for the solar eclipse.  So how do you avoid not having the right infrastructure? Simply put, by having the right systems and people in place.

 

Leading up to the solar eclipse, many news organizations reported that the U.S. economy would lose nearly $700 million in productivity due to employees spending time watching the solar eclipse. Where does the number come from? Andy Challenger, vice president at Challenger, Gray & Christmas, Inc., says the $700 million could be conservative according to Forbes.

Does this sound like a lot of money? It shouldn’t. Vanity Fair’s Maya Kosoff wrote about other big events that caused the U.S. economy to lose money – and the solar eclipse seemed small in comparison when using the same formula. Here are a few of the comparisons:

  • $1.7 billion per hour from people discussing the Super Bowl the following day;
  • $1.9 billion per hour during Cyber Monday;
  • $3.3 billion during James Comey’s testimony earlier this summer;
  • $10 billion during Amazon Prime Day.

Be sure to check out the rest of this article at www.forbes.com

 

Scott Lumley  the Transformer.