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Written by Jordan Crook

Verizon CEO Hans Vestberg shares his COVID-19 strategy and tactics

This week, Verizon Communications CEO Hans Vestberg joined us for an episode of Extra Crunch Live.

Vestberg is leading the company through the midst of one its biggest rollouts to date with the push into 5G connectivity. In our discussion, he spoke about how he’s managing the organization during this global crisis, his thoughts on work from home and acquisition strategy, and the ways in which 5G will change the way we work and live.

(Disclosure: Verizon Communications is TechCrunch’s parent company.)

Extra Crunch members can check out a partial transcript of the conversation (edited for length and clarity) or watch it in its entirety via YouTube video below.


Extra Crunch Live features some of the brightest minds in tech and VC, including Aileen Lee, Roelof Botha, Kirsten Green and Mark Cuban. Upcoming episodes will include Aaron Levie from Box, GGV’s Hans Tung and Jeff Richards, Eventbrite’s Julia Hartz and others. Extra Crunch members can submit questions to speakers in real time, so please sign up here if you haven’t already.


His initial reaction to news of the lockdown

We’re a large company with 135,000 employees in 70 different countries around the globe. So, of course, we had an early warning when it started actually in Asia. We have employees in Asia, so we got the feeling that this could be really serious. It was early in the first week of February, we moved to the highest emergency or crisis level in the company. That means that we go to a certain crisis mode on how we organized and how we galvanized the company.

That’s usually put into place every time there is a big national disaster because you need to split between people taking care of the crisis and people taking care of running the business. So we were very early on with that. In the beginning of February, we started the emergency crisis operations center that was taking care of employee questions and prioritization of important things. At the same time, we continued to run the business. That was the first thing we did very early on.

Upcoming Extra Crunch Live episodes include discussions with Aaron Levie from Box, GGV’s Hans Tung and Jeff Richards, and Eventbrite’s Julia Hartz.

The other thing we did very early on is that we understood that this was something unprecedented. I mean, you have been in crisis before. I mean, I’ve been in the telecom crisis, and we’ve been in the banking crisis when everything just went boom. This is something totally different. You cannot use any of your historical experience when it comes to this pandemic, which actually impacts each and every one of us when it comes to health. So I was honest, and thought that they’re going to be a lot of questions. We decided very early on to run our noon live webcast to our employees. We are on our… I think it’s the 11th week, where at noon every day, we run the webcast for all our employees. That was two of the first things we did.

We didn’t think we were going to run for 11 weeks on the new live webcast, but we have done it because we see there’s a very good tool to communicate with all our employees.

Extra Crunch Live: Join Initialized’s Alexis Ohanian and Garry Tan for a live Q&A on Tuesday at 2pm EDT/11am PDT

Extra Crunch Live is on fire, and the hits keep rolling! Next week, we’ll sit down with Initialized’s Alexis Ohanian and Garry Tan. You can catch the chat live on Tuesday, June 2 at 2 p.m. EDT/11 a.m. PDT.

Alexis Ohanian is the founder and former CEO of Reddit, and his investment portfolio includes Flexport, Ro and Papa. Garry Tan has invested in Instacart and Coinbase, to name a couple, and also has a background in entrepreneurship, having founded Posterous and Posthaven. Previously, Tan was a partner at Y Combinator for four years.

For those of you who aren’t caught up, Extra Crunch Live is a virtual speaker series that connects Extra Crunch members with the brightest minds in tech and VC where the audience has a chance to ask direct questions.

We’ll talk to Ohanian and Tan about how they’re advising their portfolio companies through the pandemic. Which startups should hunker and conserve cash, and which ones should sprint and advance? Is there a middle ground, and if so, what does it look like?

We’ll also discuss their outlook on economic recovery and opportunities that allow entrepreneurs to capitalize on the speed at which the world is changing. Which sectors are piquing their interest? Is Initialized going to invest aggressively in this ecosystem or be more risk-averse than usual? What’s it like doing deals over Zoom or Google Meet?

Extra Crunch members are encouraged to drop their questions in the Q&A chat for Ohanian and Tan. We’ll get to as many of them as possible, so please click here to join.

You can find the full details for our discussion below the break.

In the coming weeks, we’ll be chatting with GGV’s Hans Tung, Eventbrite’s Julia Hartz, Superhuman’s Rahul Vohra and Plaid’s Zach Perret. You can check out the full schedule here. Members also have access to the complete backlog of Extra Crunch Live episodes, which include chats with Kirsten Green, Roelof Botha, Mark Cuban and Aileen Lee.

See you there!

Extra Crunch Live: Join Verizon CEO Hans Vestberg for a live Q&A today at 2pm EDT/11am PDT

As the leader of a publicly traded corporation with 135,000 employees, Verizon Communications CEO Hans Vestberg has a unique perspective on the state of the world.

When he appears today on Extra Crunch Live, our virtual speaker series for Extra Crunch members, we’ll ask him about this extraordinary moment in history and his plans for seeing the company through a black swan event that’s reshaping the global economy.

The discussion starts at 2 p.m. EDT/11 a.m. PDT/9 p.m. GMT. You can find the full details below.

Vestberg served as president and CEO at Ericsson for six years and joined Verizon as its CTO and president of Global Networks in 2017 before stepping into the CEO role a little more than a year later. (Disclosure: TechCrunch is owned by Verizon).

We’ll talk to Vestberg about his tactics for managing a company at scale through a crisis and will check in on the company’s 5G rollout, a platform inflection point that should change the landscape for founders and entrepreneurs. Verizon recently acquired BlueJeans, which competes directly with Zoom and WebEx, so we’ll also ask Vestberg about the company’s forward-looking investment strategy.

Extra Crunch members are encouraged to ask their own questions during the Zoom call, so please come prepared. If you’re not already a member, sign up on the cheap right here.

You can also check out the full Extra Crunch Live schedule here.

See you soon!