COVID-19

GoFundMe CEO: “We’re not yet seeing much around recovery”

Kai Ryssdal and Alli Fam Apr 28, 2020
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Tim Cadogan started as CEO of GoFundMe less than two months ago. Andrew Toth/Getty Images for AWXI
COVID-19

GoFundMe CEO: “We’re not yet seeing much around recovery”

Kai Ryssdal and Alli Fam Apr 28, 2020
Tim Cadogan started as CEO of GoFundMe less than two months ago. Andrew Toth/Getty Images for AWXI
HTML EMBED:
COPY

GoFundMe is an online crowdfunding platform. The site often sees a spike in activity amid events like natural disasters and humanitarian crises as users rally to provide financial aid to the affected communities.

But coronavirus is a pandemic, and the platform is witnessing unprecedented use.

Tim Cadogan is the CEO of GoFundMe, a position he started less than two months ago. He spoke to Marketplace host Kai Ryssdal about the experience, saying he had just “a week to meet my new company” before everyone began to work from home.

Cadogan also talked to Ryssdal about trends he is seeing on the platform and what those trends say about where communities are on the road to recovery.

“The first wave of activity is around medical workers, PPE and equipment,” he explained. “That then is shifting to small businesses, businesses and their employees. And that then is shifting deeper into the areas like food security, rent relief, and then starting to touch on the more hidden factors like mental health.”

He noted that “we’re not yet seeing much around recovery, which is the typical pattern for a disaster. We’re still very much in the middle of it.”

Click the audio player above to hear the interview.

COVID-19 Economy FAQs

Are states ready to roll out COVID-19 vaccines?

Claire Hannan, executive director of the nonprofit Association of Immunization Managers, which represents state health officials, said states have been making good progress in their preparations. And we could have several vaccines pretty soon. But states still need more funding, she said. Hannan doesn’t think a lack of additional funding would hold up distribution initially, but it could cause problems down the road. “It’s really worrisome that Congress may not pass funding or that there’s information circulating saying that states don’t need additional funding,” she said.

How is the service industry dealing with the return of coronavirus restrictions?

Without another round of something like the Paycheck Protection Program, which kept a lot of businesses afloat during the pandemic’s early stages, the outlook is bleak for places like restaurants. Some in the San Francisco Bay Area, for example, only got one week of indoor dining back before cases rose and restrictions went back into effect. Restaurant owners are revamping their business models in an effort to survive while waiting to see if they’ll be able to get more aid.

How are hospitals handling the nationwide surge in COVID-19 cases?

As the pandemic surges and more medical professionals themselves are coming down with COVID, nearly 1 in 5 hospitals in the country report having a critical shortage of staff, according to data from the Department of Health and Human Services. One of the knock-on effects of staff shortages is that people who have other medical needs are being asked to wait.

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