Reputation Risk in a Twitterized World
The climax of the Academy Awards is imminent, with the announcement of the Best Picture unfolding on the stage. A PricewaterhouseCooper employee has just two red envelopes left in her briefcase. She inadvertently pulls the wrong one, and Faye Dunaway announces the winner. However, that wasn’t really the winner.
The next day, the PwC stock price fell $1.50, and the firm was all over the news, It was being blamed for the chaotic ending to the awards ceremony that saw La La Land wrongly given the Best Picture prize before the onstage correction that gave the award to Moonlight, the actual winner.