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Lying to Get the Sale

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Suzanne Lowe, at The Expertise Marketplace, has a provocative post titled I Told the Truth—and Got Hired Anyway.

Briefly, she faced two sales situations in which she knew she’d be asked the inevitable question: what experience do you have working in our business?

The truthful answer boiled down to, “none at all.”  Since we all know this is the “wrong” answer, it took a certain amount of courage for Suzanne to speak the truth, and even more courage to then avoid rushing into the silence to list the dozens of reasons why she was nonetheless the best for the job, etc.

The punch line in Suzanne’s posting was, of course, that she got the job. And she asked her readers to help explain why.

Now, what I find curious is not the fact that she got the job—but her readers’ explanations for it.

To me, the reason she got the job seemed transparently clear, almost self-evident.  She got the job because she immediately proved she was honest, transparent, truthful—and those personal characteristics in this case outweighed the importance of industry experience—as they frequently, though not always, do.

Yet to my surprise other commenters had different explanations.  Their explanations included:

• Maybe the client saw the greater relevance of her experience in other industries
• This may be the rare client who is not risk-averse
• Maybe lack of industry knowledge meant no bias, hence an open mind—ignorance here is a plus
• Maybe her integrity helped feed a broader sense of chemistry about her

My first reaction to these other reasons (I’m trying to be honest here), was one of disbelief.   It’s always shocking to me when other people don’t see things precisely the way I do.  ("How could these people not see"…."Why don’t they understand…"). 

I mean, don’t you know who I think I am?

Yet, I know some of these commenters. They are bright, experienced, knowledgeable people.

Unfortunately, this means I am denied access to my preferred, first-blush, gut-instinct explanation for why they might disagree with me, namely they’re ignorant fools. (“Damn; I have to take these opinions seriously.”)

So, I have two questions for this audience.

1. What do you make of Suzanne’s tale; why do you think her clients in each case bought her services despite her lack of industry credentials?

2. What do you make of my being shocked at the other answers? What’s your first reaction when you find out someone has a different reaction to something you felt was obvious? And what do you do about it?

Carnival of Trust for February is Up

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Carnival of TrustThe February 2008 Carnival of Trust is now online, hosted by Michelle Golden and her blog Golden Practices.

Each month, the (rotating) host selects the Top Ten trust-related blog postings from across the web during the prior month. Subject areas include Advising and Influencing, Sales and Marketing, Leadership and Management, and Strategy, Economics and Policy.

I want to say pointedly how great this Carnival thing is.  Maybe you never heard the word "carnival" applied to blogs before.  All it means is a compilation of other blogs.

But as with all things internet-related—there are compilations, and there are compilations.  If you like casually searching the web for interesting stuff, the best click you can make is onto a really good Carnival.  And here’s why this one is turning out so well.

First, we limit the posts to 10.  This is the Top 10 list, the very best of the blogosphere, for anything vaguely related to trust last month.

Second, we get great hosts.  It’s not me that picks the Top 10, it’s the fine people who bring their own special expertise—marketing, consulting, intellectual property, selling, communications—and apply that expertise to the selection.

Third, those great hosts have a Point of View.  They add zing and zest and perspective to the already-good material they’ve selected.

Think of reading the Carnival of Trust as like skimming the NYTimes Book Review, if you like that; or the category leaders in Amazon; or some kind of Google-scanning with mind-reading software that filters out everything but what is Really Great for You and You Alone (if you like trust, that is).

If you can’t tell, I’m excited about the way the Carnival of Trust has been evolving.  Do yourself a favor and pop over to the carnival, hosted by Michell Golden this month,  and treat yourself to a good quick  read.

Banks Behaving Badly: Or Is It Just Me?

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You know how it goes.

The phone rings. It doesn’t show a caller ID, just a number. There’s a lag between when I say “hello” and someone comes on the line.

Why don’t I hang up right then? I really don’t know. My motives are opaque to me, but probably diseased.

This time it’s BankAmerica. They tell me there’s nothing wrong, my credit card has not been compromised—but hey, you never know!

Because they care about my security, they’re going to send me a credit report—free! Which I can then examine, and send in any corrections required.

In addition, they will send me—with no obligation! –an identity theft insurance policy, to protect all my cards. And all I have to do, if I foolishly decide not to take them up on this amazing offer, is to phone them within 30 days to say no thanks.

Otherwise, of course, they’ll bill me, in simple monthly installments, renewable automatically on an annual basis.

I assume that BankAmerica (and anyone else pulling this passive-aggressive “gotcha” marketing strategy) must have a high complaint rate, as people notice that it’s an opt-out, rather than an opt-in offer, and find an unexpected bill in their statement. And I assume that they end up reversing a lot of those “misunderstandings.”

Is it just me? Or does anyone else find this tactic not only annoying, but self-defeating?

What does BankAmerica (or any other bank) gain by having its name linked to a “sales” tactic associated with old record clubs and internet porn subscriptions?

Who is the analyst in the back room at BankAmerica (or any other bank) crunching the benefit/cost ratio of insurance fee income to the cost of processing returns?

Does it occur to him to factor in the cost to the brand? The drip-drip of negative reputation? The effect on BankAmerica’s deposit accounts? Its mortgage business?

And if not, why isn’t he being fired for destroying shareholder value? Because the market honestly does know how to distinguish between companies with good customer reputations, and those with bad ones.

Then again, BankAmerica just bought up Countrywide Financial, the nation’s largest subprime mortgage borrower—because, at these prices, it was a “good deal.”

Not for B of A’s mortgage business’s reputation. Countrywide’s own reputation can’t have added to BofA’s reputation among consumers.

Does reputation matter? I’d like to think it ultimately does. Read the comments to the above ABC News link, and see how many people are down on BofA as a lender. They can vote with their feet.
And now here I am complaining about their telemarketing, letting my fingers do the walking.

What about you?

If you decide not to continue reading this wonderful blog, all you have to do is write in and comment, and there’ll be no charge whatsoever.

Otherwise, I’ll simply bill you in painless monthly installments, renewable automatically every year unless you decide to notify me otherwise, whenever you want.

Trust me!

Call for Submissions for the February Carnival of Trust

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carnival of trust image

Every month the Carnival of Trust highlights ten of the best posts on trust, whether business related or not. The next carnival will be Monday February 4th. If you’ve written a post you think would be a good fit, or if you have read a post by someone else that you think would be great for the carnival I’d like to encourage you to submit it for the carnival. This month’s host is Michelle Golden of Golden Practices.

Carnival Submission Guidelines:

  1. The Deadline for submissions is midnight, Thursday, January 31st.
  2. Posts do not have to be business related. Trust in personal relationships, politics, or any other sphere of life are more than welcome, and, indeed, encouraged.

Posts can be submitted here.

If you’d like to read a sample Carnival of Trust, both the Carnival of Trust homepage lists all prior carnivals. I look forward to another excellent edition with your help.

What the Pharmaceutical Industry Must Do to Regain Trust

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Pharma has been taking it on the chin for some time now.  It’s been targeted by activists, bloggers, politicians and reformers. Next to Wall Street, it’s one of today’s least trusted industries.

 
But until last week, much of the industry’s response had the flavor of, “if people only knew the whole story,” or “they just don’t appreciate the good we do.”

Fair enough, perhaps.  But no longer good enough.

Last week, the industry drew negative cover-page articles in two iconic, industry-friendly major publications.

Et tu, Advertising Age? From the trade magazine of an industry that benefits enormously from Pharma comes this tabloid-like headline:

Vytorin Ad Shame Taints Entire Marketing Industry

 

Cholesterol Drug’s Ad Campaign Turns Into PR Nightmare, Fanning Flames of Public Mistrust of DTC.

Reports that Merck & Co. and Schering-Plough Corp. kept under wraps for more than a year findings that Vytorin does not deliver results it spent more than $100 million advertising to consumers is much more than a PR disaster for the drug’s co-marketers. Coming on the heels of a New York Times story that Pfizer’s $2 billion drug Lyrica treats a condition, fibromyalgia, that a lot of doctors don’t think exists, the Vytorin news is fanning the flames of public mistrust for the $5 billion direct-to-consumer drug industry — and the ad business in general.

"The pharmas are in big trouble in terms of credibility," said brand expert Rob Frankel, who runs his own consultancy at RobFrankel.com. "They’re just above Congress and used-car salesmen."

Talk about biting the hand that feeds you.

But the topper has to be making the cover story on BusinessWeek:  Do Cholesterol Drugs Do Any Good?

 

Never mind the typically well-researched and well-written critique of the industry; never mind the bad press Merck and Schering-Plough got for the Vytorin data, coming on the heels of the Vioxx lawsuits; never mind the bevy of critical testimonials the article digs up.

The plain fact is, once Ad Age and BusinessWeek put you on their covers—in nakedly negative terms—it’s time for some basic re-examination.  Low trust is not a surprise to the industry—but this is a wake-up call about the failure of the industry’s response to date.

One of the major pharmaceutical firms (because it’s not likely to be PhRMA, the industry’s trade association) needs to find a voice and take a leadership role—to speak what has become obvious to the world outside Pharma, as represented by leading business publications.

The message is this: the only way to resolve the industry’s trust issues is to become trustworthy—worthy of trust.

• Trust will not be regained by “educating” the public.

• Trust will not be regained by “getting the message out.”

• Trust will not be regained by improving your PR; your PR will be improved by regaining your trust.

• Trust will not be regained by framing it as a problem of image, marketing, or perception.

• Trust will not be regained by coordinating, refining or sharpening talking points; the problem is not getting the message out—it’s listening to the market to hear the message coming in.

The good news is, there are a great number of very well-intentioned, smart people in this industry, who are deeply pained at having been demonized the way they have been.  Some are courageously beginning to face up to it.

It won’t be easy for them. Twenty years of success, blockbuster drugs, and an overdose of marketing culture erects barriers to even their good intent.

Further, any gain in trustworthiness must be broad-based.

It won’t be enough just to help sales forces become listeners, rather than shills—though that will help. It isn’t enough to wean physicians from the “consulting” and “education” fees they reap—though that will help. It isn’t enough to deal with the appearance of conflict in researchers and journals’ affiliations with pharma funding—though that will help. It isn’t enough to seek business models beyond patent-stretching, features-tweaking and disease creation—though that will surely help. 

It is an industry whose beliefs and practices have become encrusted, making its untrustworthiness opaque even to those who most sincerely would reform it.

So, what will it take?

• Courage, for one. Which does exist; there are some fine people in pharma.

• Brains, for aother. Again, pharma is blessed. The trick is to turn those brains loose; to use the courage to think boldly, examine anew.

• Transparency is required too, though even that is hampered by layers of regulation brought upon itself by the industry’s own past practices.

• But above all, the industry needs a sense of urgency.  Not just business urgency, but a personal willingness to face some  shame, or disgust, or revulsion; something that comes from the gut and says, “you know, we are better than this; we can do better than this; and I for one have had it.”

I can’t think of any industry where the trust gap between what is and what could be is larger, and where the social cost of that gap is greater. It is in society’s best interest to have a trusted pharmaceutical industry. At its best, the pharmaceutical industry saves hundreds of thousands of lives, and adds quality of life to millions.   We are paying gazillions in cost, red tape, suspicion, and lost or devalued lives because of its absence.

We should all be rooting for this industry to heal itself.

The first step is admitting you’ve got a problem.

When Trust Betrayal Keeps Coming Back

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Cobalt57 has a half-life of 257 days. The half-life of a bad divorce ranges from a few years to a lifetime.

And the half-life of betrayed trust is somewhere beyond that.

In fact, trust betrayed has a way of regenerating. Call it Zombie trust: when trust is trashed, it has a way of never really dying—it just keeps on coming back to get you.

Trust Betrayal and the Black Community

Two cases in point. From the early 1930s until 1972, a government sponsored study of syphilis in Tuskegee, Alabama systematically and intentionally lied to poor black sharecroppers about the “research” being done to help them. In fact, their infection was left untreated, so as to study the ravaging effects of the disease.

The study is pretty well-known in the black community, and is a powerful story about the depth, depravity and reality of racism in the USA.

Powerful enough that it has made black people afraid of taking part in medical clinical trials. It’s not hard to understand why. And yet, we have this news story:

In a report to be published in the journal Medicine online Jan. 14, experts in the design and conduct of medical research found that black men and women were only 60 percent as likely as whites to participate in a mock study to test a pill for heart disease. Results came from a random survey of 717 outpatients at 13 clinics in Maryland, 36 percent of whom were black and the rest white.

"The survey is believed to be the first analysis showing that an overestimation of risk of harm explains why blacks’ participation in clinical trials has for decades lagged that of whites. The results come at a time of increased recognition of racial differences in disease rates and treatments. Researchers point out that some kidney diseases, stroke, lung cancer and diabetes all progress more quickly in blacks and kill more blacks than people of other racial backgrounds.

"There is enormous irony that without African-American subject participation in clinical trials, we are not going to have tested the best therapies we need to treat African Americans," says study senior researcher, Hopkins internist and epidemiologist Neil R. Powe, M.D., M.P.H., M.B.A. "So long as the legacy of Tuskegee persists, African Americans will be left out of important findings about the latest treatments for diseases, especially those that take a greater toll on African Americans and consequently may not have ready or equal access to the latest medicines."

The Zombie of Trust Betrayed is at work here. The past abuse of trust was so horrific that it continues to wreak havoc, even when—ironically—researchers could be of help.

Robert Zogby and the Polling Debacle

Here’s another case. After the New Hampshire Democratic primary polling debacle, Jon Stewart’s Daily Show invited famed controversial pollster Robert Zogby as a spokesman for the polling industry.

Zogby held his own in the unwinnable format—but the Zombie of Trust Betrayed got him—bad—a week later.

In a post on January 16, Rick Rottman recounts a first-hand story from 1992, when he took a European history course from Zogby at Utica College. Long story short, as Rottman tells it, Zogby offered to raise everyone’s grade a point if they came in and volunteered for an 8-hour shift at his polling business.

At first, everyone agreed to it. Later, everyone reneged. Pressed as to why, they all said they felt it was unethical. Zogby, as Rottman recounts it, blew a gasket.

Worse yet, says Rottman, he had gotten an A on his midterm before these events. He never saw the results of his final exam (on which he thought he had done well), but his final grade was a C—implying an improbable F on his final exam. Understandably, Rottman is inclined to wonder why.

That was 1992. Now, 16 years later, Rottman is in the blogosphere saying “John Zogby is the reason I don’t trust polls.” And it’s not hard to understand why.

Note: I want to be very careful about spreading critical comments like this. If Zogby has something to say, he’s got white space here in this column to do so. And if he convinces me Rottman is a nut job, then I’ll strip his story entirely out of this blog. Until then, however, Rottman is writing quite clearly about a first-hand experience which sounds credible to me—or I wouldn’t be citing and linking to him here.

Final examples of the half-life of mistrust: look to the Russian-Chechen conflict; the feelings between the Sunnis and the Shia.

Trust lasts a long time. Trust betrayed appears to last longer.

You Lying, Cheating Dog, You

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Most of us lie, at least a touch.  Maybe cheat a little bit, too.

But it’s interesting to explore just why, and when, we do so. That’s the subject of a charming little piece in the current Harvard Business Review (February 2008, paper only) called “How Honest People Cheat,” by Dan Ariely.

A simple experiment. Give a few thousand people math problems to solve for money. Use a control group to establish average scores. Then rip up the exams in front of the test groups, and ask them to self-report how well they did.

The control group got 4 of 20 right. The test groups, on average, reported getting 6 of 20 right. By one measure, they cheated by 50%. By another, they cheated 12.5% of the available opportunity to cheat.

Then the researchers made it interesting.

1. They varied the risk of getting caught. Result? No change at all.

2. They substituted poker chips (redeemable later for money) for money itself. Result: a doubling of cheating.

3. They preceded the test by having participants reflect on their own standards of honesty, e.g. the Ten Commandments or an honor system. Result: complete cessation of cheating.

Ariely draws three conclusions:

1. Most of us will cheat a little, given the opportunity
2. Our consciences impose limits even when there’s no risk of sanctions
3. Non-monetary exchanges allow people to cheat more, e.g. backdating stock options.

Ariely seems to make the most of the third one, suggesting it explains Enron, for example.

I would emphasize it another way.  This elegant little study suggests that the threat of individual punishment carries far less weight than does the exhortation to do right by a group norm.

Now, it’s quite a leap from a small study to suggesting that prisons should focus on rehabilitation rather than punishment and retribution—but that’s the direction.

It’s a leap to say that white collar crime will be deterred less by Elliot Spitzer-like prosecutions than by airing criminal behavior to the disapproval of a broad public—but that’s the direction.

If you can’t trust someone, do you follow Ronald Reagan and “trust, but verify?”  Or do you have a sit-down with them about their responsibilities to be trustworthy? Let’s just say this study is anti-Reagan. 

At root, this study reminds us that much of individual behavior is not explained by that old economist standby, the “rational, self-aggrandizing homo economicus,” who does all that he does in order to improve his own economic well-being.

It suggests that human beings are also—very much—social creatures. We even build our own personal values systems (aka consciences) based on our sense of what furthers our relationships to other human beings.

Is that so hard to understand? 

Lessons in Sales from John McCain

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As far as I know, John McCain has never sold for a living. Though you could argue that insofar as he’s a politician, he’s never done anything else.

Whether or not you believe all politicians are salespeople, some do it differently than others. McCain “sells” in a particular way.

It’s an approach to selling that most salespeople instinctively avoid, but that many of the best salespeople have learned to seek. It’s an approach Hillary Clinton is belatedly coming to recognize.

It’s simple: be transparent.

As Howard Kurtz writes in Accessibility Opens Doors to McCain in the Washington Post,

Reporters rarely quote his aides because the man himself is available to react to just about everything. And that "infinite" access, says Boston Globe correspondent Sasha Issenberg, helps the Arizona senator.

"He’s pretty good road-trip company," Issenberg says. "The guy stays up on sports, movies and what’s in the news. I’ve had the ability to have extensive conversations with him — often Socratic dialogues — about the issues. He’s a richer candidate in stories written about him than other candidates are in stories written about them."

How candidates treat reporters shouldn’t matter in the coverage, but it does.

William Kristol, writing an ope-ed for the NY Times called Thoroughly Unmodern McCain, makes a similar point:

John McCain is a not-so-modern type. One might call him a neo-Victorian — rigid, self-righteous and moralizing, but (or rather and) manly, courageous and principled.
Maybe a dose of this type of neo-Victorianism is what the 21st century needs. A fair number of Republican and independent voters seem to think so, if one can infer as much from their support of McCain at the polls. But, amazingly, a neo-Victorian straightforwardness might also turn out to be strategically smart.

McCain has been the only Republican candidate who hasn’t tried to out-think the process. Perhaps out of sheer necessity, after his campaign imploded last summer, he simply picked himself up and made his case to the voters in the various states.

Meanwhile, the other G.O.P. candidates are creatures of our modern age of analysis and meta-analysis, and their campaigns have sometimes been too clever by half.

There’s a reason transparency works: and a lesson for those would would fake it.

The reason transparency works is it reveals motives. Unlike appeals to qualifications, credentials, experience, testimonials, track records and competence—transparency speaks to intent.

If we see someone as being transparent, then nagging questions about motive disappear. We no longer speculate about what’s in it for him, what’s the hidden meaning, why’d he say that, is he lying, and so on. We accept the person at face value for what they say, even if—sometimes, particularly if—what they say reflects imperfection. That works in sales, and in politics.

And here’s the lesson for those would would fake transparency: you had better be really, really good at it, because, if you are caught faking transparency—all bets are off. There’s virtually no recovery from being found out intentionally lying about being truthful.

The best way to be transparent about your motives? To be sure your motives are clean in the first place. We don’t like someone who’s being transparent in order to gain something (like the Presidency). We want transparency as an end in itself—a principle, a value, not a means to end.

Here’s how it’s done, from Kristol again:

There was a serious moment when BBC correspondent Justin Webb asked why McCain kept bringing up global warming — not a popular cause with many Republicans, particularly in Michigan, where resistance to fuel-efficiency standards is strong.

"You’ve got to do what you know is right," McCain replied.

"You could lose as a result," Webb said.

"There’s a lot worse things than losing in life," the former POW said.

Transparency sells. The “trick” to using it is to live your life in a way you don’t mind being exposed.

Then just be who you are.

Property Theft or Generation Gap?

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David Pogue  is the personal technology columnist for the New York Times. His Wall Street Journal counterpart, Walt Mossberg, plays the practical, straight-shooter  to Pogue’s edgier and more expansive ruminations.

Case in point: Pogue’s article “The Generational Divide in Copyright Morality.”

 Pogue sometimes speaks to audiences who are outraged at copyright thievery, $2.00 DVDs of first run movies or $10 copies of Windows hawked in Hong Kong, knock-off designer bags in New York, scams, con men and property theft in general.

He asks them; “if you own a CD and it gets scratched, and you borrow one from the library to burn a copy—is that wrong? If you make CD copies of old vinyl LPs you own? What if you burn a copy of a movie you rented from Blockbuster?”

He leads listeners down a garden path of increasingly discomfiting examples, with more people at each point willing to call it “wrong.” His point: “wrong” is a nuanced view, not black and white. And it’s a powerful example.

Until—he spoke to a college audience of 500.

 

Pogue went all the way down his usual garden path, and got only two people—in an audience of 500—who characterized his endpoint as “wrong.”

…to see this vivid demonstration of the generational divide, in person, blew me away.
I don’t pretend to know what the solution to the file-sharing issue is. (Although I’m increasingly convinced that copy protection isn’t it.)
I do know, though, that the TV, movie and record companies’ problems have only just begun. Right now, the customers who can’t even *see* why file sharing might be wrong are still young. But 10, 20, 30 years from now, that crowd will be *everybody*. What will happen then?

Pogue is on to something—but it’s not generation gaps. Generations are the second-order indicator of something much bigger.

It’s the disconnect between old belief systems—forged in a different business and technology world—and the new reality.  We are inhabiting an inter-regnum, a period where old beliefs don’t fit the new reality—and the new belief systems as yet unformed.

Emile Durkheim wrote about the shift from one mode of civilization to another; the result, if I recall correctly, was what he called “normlessness.” And it created anomie—a sense of disconnectedness, a lack of cohesive social principles, manifested in individuals as a sense of not belonging.

This disconnect between old beliefs and new reality shows up in several places: the purchasing function is one (old belief—compete with suppliers to squeeze costs out of them; new reality—collaborate with suppliers to create cross-corporate supply chains).

But Pogue’s example is the most vivid. It’s about property rights—the intellectual rights of music, movies, books, software—but also “hard” property like art or design as they become “copied” or digitized.

Technology relentlessly drives toward communalization of property. “Information wants to be free,” was the anarchic claim of the early digerati, and I think they were right. And the more free it becomes, the more Pogue will get blank stares from new generations.

Property owners can partly blame themselves. When videocassettes were introduced, movie companies’ first impulse was to sell, not rent, thereby implicitly degrading their rights to the content.

Remember Microsoft howling about counterfeit Windows in China? But Bill Gates knew full well that every counterfeit Windows user meant one less Unix user; tolerating counterfeiting wasn’t a Faustian deal, it was a plain old one.

We live in a normless time regarding digitizable property. We continue to infinitessimally slice “rights” of music artists, writers and producers to allocate tiny revenue streams from other artists’ 2-second samples sold through DVDs, online streaming media and media yet to be dreamed up. Counting angels on the head of a pin? The Lawyers’ Full Employment Act.

Lawyers will howl.  Software producers, artists, record companies will howl. Moralists will howl. And data will continue to become freer.

The howling will stop when we develop a new set of norms, appropriate to the new conditions on the ground. Pogue’s generational comment is accurate, as far as it goes. And normlessness does rhyme a bit with adolescence and punk rock, for that matter.

But ultimately it’s not about age. It’s about the changing of the social contract.

Change on the ground precedes and drives business models.  Business models then drive ideologies, belief systems, norms, laws.  Ideologies get enforced by lawyers, and lawyers get hired by those who benefit from the status quo.  Until change on the ground starts the whole cycle all over again.

Pogue is correct that “wrong” is a nuanced word.  So is “rights.”  Property rights are not absolute.  We have made "property" of women and black people, air and water—and un-made them.  In the scheme of things, re-thinking the status of a Wu Tang Clan track or an Adam Sandler flick might be just a tad easier. 

Who Do You Trust? A Snapshot in Time

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That’s the title of a recent blogpost  by Barry Ritholz, in his delightfully eclectic blog The Big Picture: Macro Perspective on the Capital Markets.  (Though, as one of his commentators snarkily reminds us, it should be “whom” do you trust).

Together with forty-odd literate comments, this post provides a perfect snapshot—a social Rorschach test—of the application of trust, the nature of trust, and the state of trust in business today. (Plus, it’s a fun read).

The application of trust.  As Barry points out, we apply concepts of trust to personal and business relationships alike. He implicates trust in the decline of mainstream media readership. “Trust” in the comments gets applied to products (ETFs over mutual funds), broadcasters (Kudlow, Kramer), directors (Spielberg), institutions (the IRS more than the Fed), and even “humanity” or “myself.”

Much of his post—and the comments—focus on the notion of trusting companies—as in, “I trust Amazon and USAA,” or “I don’t trust Microsoft.”

In turn, reasons for trusting (or not trusting) companies include:

• concerns about data security leading to identity theft
• customer service
• attention to customer experience, e.g. spam prevention
• reputation, e.g. linkage to one’s past.

Barry neatly sums up the range of trust applications in a series of questions:

Who do I trust? Who can I rely on, confide in, bank on, have faith in?
Who do you read? Who do you let get inside your head? Who do you believe? Who are you sure about?
What companies do you entrust with your personal files and passwords? Your social security number, bank account data, personal financial info, data?
Who do you trust?

The nature and state of trust. A blogpost is the furthest thing from a statistical study; then again, we’ve just seen the feet of clay of polling statistics.

The post and comments are more like a focus group; they have the ability to state a particular insight "just so." 

Barry says, “I am naturally sceptical. I see too much bullshit everywhere,” and his commenters continue the tone. One says, “People are, by nature, liars, thieves, and fast buck con artists.”

In other words, truth-telling is an indicium of trust—and the general view is bearish on truth-telling these days.

Barry says, “Yahoo (YHOO) still has some residual trust — but its waning fast. I still use Yahoo as a home page, but their inattentiveness to some of their properties is shameful.”

In other words, trust is about taking responsibility.  And how Yahoo isn’t doing it, nor is Dell, nor AIM. 

He also doesn’t trust social networking sites, because they abuse data—in turn, either because of sloppiness, and/or venality.  Trust is about motives, and about focus on something other than oneself.

One commenter says he trusts someone through their blog. Another says it amounts to risk management. One talks about trusting a very small circle of friends and family. Another talks about the essential role of trust in capitalism.

And many have hilarious lists of who and what they trust and don’t trust.

All in all, a rich real-world sample of the meaning of the word trust; not in a dictionary sense, but in an active, anthropological, here-now on-the-street sense.

It’s a great snapshot of trust in America circa January 2008. Thanks to Barry for posting.