'The difference between a visionary and a fraud isn’t even a blurry line, it’s a blurry house of mirrors,' explains profgalloway
Ozy Media CEO and co-founder Carlos Watson. Photo: Kimberly White/Getty Images In two short weeks, Ozy Media went from a healthy mid-sized media company to an ostensibly shuttered media company, to a single executive on a media circuit trying to redeem his disgraced company. Ozy’s reckoning was spurred by the New York Times’s Ben Smith, who reported that the company built around smoke and mirrors, inflated numbers, and lies.
A new core competence of CEOs is storytelling, their ability to layer a narrative on top of a business. When Jeff Bezos was selling a non-proprietary product, e-commerce, with a bad website — that’s what he did in the ’90s — it wasn’t that compelling. But when he talked about the future of commerce and how Amazon was going to be maniacally focused on convenience, value, and selection, people started to think, Wow, this guy gets it and they wanted to buy stock.
If a journalist had gone after the wealthiest men in the world, Jeff Bezos and Elon Musk, early on and said, “You’re in a cash crunch, and you’re about to go out of business” — which was certainly true of Tesla, and Amazon went through some pretty rough years in the early 2000s — it could have put those companies in downward spirals that they might not have recovered from. They would have gone from the Edison and Ford of our generation to Elizabeth Holmes of our generation.
That’s the equivalent of assaulting someone at the airport where there’s a million cameras. It’s not only wrong, but it’s just plain stupid to think that they wouldn’t get caught. Mental illness is a believable defense because who would believe they could get away with that?Those are good examples. But I haven’t seen that many instances of something so brazen and stupid. What you do see is millions of little interactions that add up to a lot. I’ll give an example.
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