CalSTRS CIO Ailman Sees 'Choppy' Recovery Outside of Tech

The transcript discusses the differential impact of the COVID-19 pandemic on big and small businesses, highlighting the struggles of small businesses and the challenges in economic recovery. It emphasizes the long-term effects on industries like travel and hospitality and predicts a slow and choppy recovery, especially outside the technology sector. The future of business travel is uncertain, with many expecting a delayed return to normalcy.

What is the anticipated timeline for recovery in business travel according to the text?

What does the speaker mean by a 'choppy economy' and 'choppy recovery'?