The author makes the point that companies don't admit mistakes because they fear the stock would plummet. I don't think that is entirely accurate, or if it is, the stock plummet is incidental to the actual risk that comes from admitting mistakes: investor lawsuits.
And regarding start-ups and their propensity for owning up and apologizing, I've never really seen much in the way of sincerity from the likes of Path or those in similar flare ups. It's just that an apology is the quickest and cheapest form of damage control when the fickle masses and page view hungry tech bloggers are crucifying you on twitter.
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The author makes the point that companies don't admit mistakes because they fear the stock would plummet. I don't think that is entirely accurate, or if it is, the stock plummet is incidental to the actual risk that comes from admitting mistakes: investor lawsuits.
And regarding start-ups and their propensity for owning up and apologizing, I've never really seen much in the way of sincerity from the likes of Path or those in similar flare ups. It's just that an apology is the quickest and cheapest form of damage control when the fickle masses and page view hungry tech bloggers are crucifying you on twitter.