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Photo by Michael Kovac/Getty Images for Vanity Fair

Bond Capital, a Silicon Valley VC firm whose portfolio companies include Slack and Uber, told its investors this morning via email that the coronavirus' high-speed spread and impact has similarities to the devastating San Francisco earthquake of 1906.

Why it matters: Bond's best-known partner, Mary Meeker, is a former bank analyst renowned for her annual Internet Trends Report, which many investors and entrepreneurs use as a touchstone for where tech is now and where it's going. Today's 28-page report to Bond's limited partners, obtained by Axios, shares some structural similarities.

Some takeaways:

  • "Covid-19 has upended our modern lives in ways we’re just starting to understand."
  • Prior epic viruses have permanently changed the world, but coronavirus may prove less impactful because of our information-sharing and scientific technologies.
  • Scientists and other domain experts are getting "more seats at the table."
  • Digital transformation is accelerating, due to so many people working from home. New work-life balances are also being struck.
  • This may become the "call to arms" to better marry technology with healthcare, in terms of everything from telehealth to rapid point-of-care diagnostics, to applying automation and AI to health care services.
  • "We are optimists and believe there is hope on the other side of despair.... We need government, business and entrepreneurial intervention at scale (deployed logically and effectively) to get to the other side."

Below is the full report, which is signed by the entire Bond Capital team:

Go deeper

California governor declares drought emergency in most counties

A sign in April on the outskirts of Buttonwillow in California's Kern County, one of the top agriculture producing counties in the San Joaquin Valley, after historically low winter rainfall. Photo: Frederic J. Brown/AFP via Getty Images

California Gov. Gavin Newsom (D) extended a drought emergency declaration to cover 41 of the state's 58 counties on Monday.

Why it matters: Most of California and the American West are experiencing an "extreme" or "exceptional" drought, per the U.S. Drought Monitor. Newsom and other officials are concerned California could experience a repeat of the catastrophic 2020 wildfire season.

3 hours ago - World

Jerusalem crisis escalates after Hamas and Israel trade rocket fire

Israeli air strikes in the southern Gaza Strip on May 10. Photo: Said Khatib/AFP via Getty Images

Nine children were among 20 Palestinians killed in Israeli airstrikes after Hamas fired dozens of rockets at Jerusalem for the first time since 2014 Monday, per AP and Reuters.

The big picture: The rockets come after escalating violence in Jerusalem has injured 250 Palestinians and several Israeli police officers during protests over the planned evictions of Palestinian families from their homes that began Friday.

Pelosi's Republican playbook

Illustration: Aïda Amer/Axios

As Republicans fight among themselves, House Speaker Nancy Pelosi (D-Calif.) is showing the myriad ways she deals with the GOP herself.

Between the lines: We've seen Pelosi cut opponents off at the knees, like she did with President Trump, or pretend to forget their names, as she did to Sen. Ron Johnson (R-Wis.). Now she's feeding oppo research against her House counterpart, Minority Leader Kevin McCarthy (R-Calif.), so others can use the same harsh rhetoric to frame the Republicans as the party of dysfunction.