'The result of corporate betrayal is consumer doubt. Corporate boards today understand that and, to prevent further disaster, they respond quickly. The CEOs of BP and American Apparel lasted weeks and months before they were removed. Martin Winterkorn, the offending former CEO of Volkswagen, lasted only hours.
People care less and less about what corporations have to say about their products and services, and more and more about what others have to say about them. Watchdogs and trolls abound. Peer to peer reviews take place on Yelp, Airbnb, Uber, Glassdoor and even in workplace reviews. According to one survey, 88 percent of people trust online reviews as much as personal recommendations. 84 percent of Millennials rely on consumer opinions. And according to a PwC survey, 62 percent trust brands less today. Importantly, no one trusts traditional advertising.'