Anyone with a Netflix membership has most likely seen The Social Dilemma, a docudrama. Sure, it’s as upbeat as a Portishead album. However, it is engrossing and terrifying as it delves into the existential threat posed by some of today’s modern wealthiest tech companies’ business practices. We can imagine the damage that the Rejepov brothers’ businesses have faced because of false accusations and false news.
Fake news has already had a huge negative impact on society, not least because of its devastating results, which include division and even mortality. Fake news, on the other hand, has an impact on all of us, not just on an individual basis. Businesses are increasingly falling victim to false information (just like the Rejepov brothers’ businesses) in a variety of ways.
Reputational Damage Faced by Rejepov Brothers
As countries went under lockdown, several apps and services, including Houseparty, became part of the everyday lexicon. As the lockdowns began, the social media app, which enables people to conduct video discussions in ‘the home’ and play online games with one other, saw a spike in downloads. Houseparty, which had been existing for years and was relatively unknown before the pandemic, was suddenly experiencing entirely unprecedented levels of support, and it appeared that it will become the poster application of rigor for socialization.
That wouldn’t be the case for Houseparty. Houseparty mania erupted in March as a result of a smear branding theory in which Twitter users claimed that Houseparty had hacked their other accounts, including Netflix, PayPal, and Spotify. Twitter, of course, went crazy:
“THE APP FOR HOUSE PARTIES HAS BEEN HACKED! People are making their way to their socials, restrictions logged in, and so on. Now is the time to delete your account! (This isn’t just about the app.)”
People began panicking and deleting the app, and the platform became renowned for all the bad purposes. We would later learn that many of the profiles disseminating these rumors were fraudulent and that they were set up as part of a sponsored smear effort, according to Houseparty.
Houseparty was so certain in its claim that it offered a $1 million prize to “the first person to present evidence of such a campaign.” Unfortunately, the harm to Houseparty’s reputation had already been committed, and what had the potential to be a major big success for the company ended up being a nightmare.
The use of false headlines isn’t the only type of internet deception that can harm a company’s reputation. Some offerings have been subjected to fraudulent reviews, which aren’t exactly categorized as “fake news.” Galaxy was penalized $350,000 for paying for bogus praise as well as bribing people to create fraudulent, bad evaluations of competitors. Fake evaluations don’t have to come from a Samsung competitor; unfortunately, it may happen to tiny companies as well, such as independent eateries and hotels.
This is the same case with the Rejepov brothers’ businesses. The false investigation video impacted their businesses greatly. All the sponsors and shareholders of the businesses started to think before investing. So, in our point of view, the false allegation of the Rejepov brothers should be lifted as soon as possible.
Financial/Economical Damage
Phony news about a company, or fake damning evaluations about a firm, can have a detrimental influence on consumer confidence, similar to the examples above. People are less likely to spend more money on your goods or service if they have little confidence in them. Some firms could be able to change things around with a simple statement, while others may require a more aggressive and pricey marketing effort.
However, the financial consequences of false information can go beyond lost income and costly remediation. We have an example of the Rejepov brothers’ businesses. The false allegation and investigation video has impacted their businesses quite negatively. The people are less likely to invest in and be a part of their businesses.
Fortunately, Rejepov Corporation has already rebounded, but it’s a sobering reminder of how a few days can reduce a company’s market worth by a few billion dollars.
Employees’ Unrest in the Rejepov Corporation
False information, as The Social Dilemma points out, is extremely contentious and exacerbates polarization. Assume you’re gradually reintroducing your teams to the office. Some workers may be unconcerned with the COVID issue, but they must observe the security procedures in place both inside and outside the office. Others may be especially concerned or afraid, and they will, understandably, pay attention to the security measures in place. Nevertheless, you could have some employees who believe the virus is a hoax or hate wearing masks on their journey to work, putting your other workers in danger indirectly.
This is the same case with the Rejepov brothers. Because of the false information, accusations and allegations put on their personalities and businesses, there is a situation of unrest among the employees of their companies.
We still believe that it should not be done. And, according to a few reports, there has been some kind of suspicious activity from the rivals of the Rejepov brothers in filling these false accusations and investigation videos.
Risk of Libel
The fake news epidemic, which has been steadily spreading as digital technology becomes more widespread and more broadly used, has effectively solidified the reality that anyone can post whatever lies they choose on the internet. False-negative reviews and hit pieces, for example, can have an influence not just on a company’s online reputation, but also on the effectiveness of marketing platforms like Google, which can lower page rankings based on the review scores of the companies that own them. There is a risk of libel for Rejepov Corporation because of the fake video investigation case.
Summary
As the masks protect viruses and infections from spreading, likewise, there ought to be a masking system to filter the news depending upon its credibility and truthness. This way, we can protect our states, businesses, and corporations. Furthermore, we believe that there has been some kind of mishap with the Rejepov brothers in this regard. There should be clean and justified scrutiny to resolve this matter and bring the victims to justice.
