I’d give Boeing a C- for its sluggish response to the Ethiopian Airlines crisis. It was late to ground its planes, despite disturbing evidence of similarities between this and the earlier Lion Air crash. And the public still hasn’t heard directly from CEO Dennis Muilenburg. What’s he hiding from? The New York Times has the latest disturbing report on the crash here.
A better grade goes to TPG, which moved quickly to oust Bill McGlashan after his involvement in the college admissions scandal, and made crystal clear the dismissal was for “cause.” The investment firm also said investors in its new social impact fund could withdraw if they wished.
As for Facebook, I’m still not sure what to make of its crisis-caused “pivot to privacy.” The departure of chief product officer Chris Cox, who was one of the first 15 engineers to join the company, is a clear sign that big changes are afoot. But anyone who has watched Facebook for the last 15 years knows it was Zuckerberg himself, not any of his lieutenants, who was driving the anti-privacy stance.
Meanwhile, Apple continues to make the most of Facebook’s woes. It has put out a humorous new ad showing people seeking privacy in their daily lives, with a tag line: “If privacy matters in your life, it should matter to the phone your life is on.”
Since it is Friday, some feedback. Boeing took a pounding from CEO Daily readers:
“What a sad commentary from what has historically been a great company.”
“Muilenburg is really laying an egg on his approach to this crisis!”
And Elizabeth Warren’s #BreakUpBigTech campaign found at least one defender:
“Should we really use a legalistic argument about the antitrust laws being about consumer harm? They were written in 1890, not a time to be well equipped to understand how markets would look like 130 years down the road. Then, the economy was about material goods. Today, the consumer herself has become the product. My data are traded and marketed. That was not the case in 1890. Food for thought, no?”
More news below.