GoFundMe CEO: “We’re not yet seeing much around recovery”
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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
What do vaccines mean for economic recovery?
COVID-19 is not going anywhere anytime soon, according to expert witnesses who testified at a recent hearing held by the Joint Economic Committee. Put simply, we can’t eradicate the virus because it infects other species, and there will also be folks who choose not to get the vaccine or don’t mount an immune response, according to Dr. Céline Gounder at NYU School of Medicine & Bellevue Hospital. “That means we can’t only rely on vaccination,” Gounder said. She said the four phases of recovering from the pandemic are ending the emergency, relaxing mitigation measures, getting to herd immunity and having long-term control.
Can businesses deny you entry if you don’t have a vaccine passport?
As more Americans get vaccinated against COVID-19 and the economy begins reopening, some businesses are requiring proof of vaccination to enter their premises. The concept of a vaccine passport has raised ethical questions about data privacy and potential discrimination against the unvaccinated. However, legal experts say businesses have the right to deny entrance to those who can’t show proof.
What do I need to know about tax season this year?
Glad you asked! We have a whole separate FAQ section on that. Some quick hits: The deadline has been extended from April 15 to May 17 for individuals. Also, millions of people received unemployment benefits in 2020 — up to $10,200 of which will now be tax-free for those with an adjusted gross income of less than $150,000. And, for those who filed before the American Rescue Plan passed, simply put, you do not need to file an amended return at the moment. Find answers to the rest of your questions here.
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