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

Updated 14 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 7 a.m. ET: 19,655,445 — Total deaths: 727,353 — Total recoveries — 11,950,845Map.
  2. U.S.: Total confirmed cases as of 7 a.m. ET: 4,998,802 — Total deaths: 162,425 — Total recoveries: 1,643,118 — Total tests: 61,080,587Map.
  3. Politics: Trump signs 4 executive actions on coronavirus aid — Democrats, and some Republicans, criticize the move.
  4. Public health: Fauci says chances are "not great" that COVID-19 vaccine will be 98% effective — 1 in 3 Americans would decline COVID-19 vaccine.
  5. Science: Indoor air is the next coronavirus frontline.
  6. Schools: How back-to-school is playing out in the South as coronavirus rages on — Princeton, Johns Hopkins, Howard to hold fall classes online.

Elevator anxiety will stifle reopenings

Illustration: Aïda Amer/Axios

Will you step back into an elevator any time soon?

Why it matters: Tens of billions of dollars — and the future of cities around the country — rest on the answer to that question. So long as workers remain unwilling to take elevators, hundreds of billions of dollars' worth of office real estate will continue to go largely unused.

Updated 6 hours ago - World

Brazil coronavirus death toll tops 100,000 and case numbers surpass 3 million

Brazilian President Jair Bolsonaro posted a photo of himself to Facebook congratulating his soccer team, Palmeiras, for winning the state title Saturday, moments after the health ministry confirmed the national COVID-19 death toll had surpassed 100,000.

Why it matters: Brazil is only the second country to confirm more than 100,000 deaths from the coronavirus. On Sunday morning, it became the second country to surpass 3 million cases, per Johns Hopkins. Only the U.S. has reported more. Bolsonaro has yet to address the milestones. He has previously tested positive for COVID-19 three times, but he's downplayed the impact of the virus, which has crippled Brazil's economy.

Editor's note: This article has been updated with the latest coronavirus case numbers and more context.