Saturday 16 February 2019

Blue chip company has Gerald Ratner moment - destroyed in 2 days


Urgent message to any arrogant captains of industry. Behave badly or say the wrong thing and your business can be destroyed in just a few hours.

I'm talking about Bukalapak an Amazon or ebay for 260M people based in Indonesia. Established 9 years ago, by all accounts a success story. Two days ago they held a party for the substantial numbers of employees. The president of Indonesia Joko Widodo, Jokowi as he is affectionately known attended to pass his good wishes. To give encouragement to this e-commerce business.



Jokowi is much loved here in Indonesia, a true man of the people. He is as honest as the day is long. Indonesia will hold elections in April and it's widely predicted he will win. However, Indonesia has a chequered past politically and the old guard still causes concern from time to time. His opponent is a prodigy of the Soharto era.

Shortly after Jokowi left the event, the CEO took to twitter to lambaste the President, Jokowi. The CEO quoted historic, poor economic numbers as though they were current. They were taken from an era prior to Jokowi's presidency. He called for his demise at the upcoming elections, to be replaced by a "New President"

The result; within 2 days this giant of an e-commerce company is on the precipice of collapse. Social networks have destroyed him and his company.
Bukalapak enjoyed a healthy reputation up until Thursday morning, rated 4.7 out of 5 on Apple store. Today the app has been deleted by most of its users and the rating has plummeted to 2.3 and dropping. Apple will de-list the account at 1.9.

The CEO has been cap in hand to the President begging him to forgive him.  Asking Jokowi to plead with the people to stop the carnage of his company. To the Presidents credit he has done this, he has asked that the people forgive this person's indiscretion.

One twitter user replied “I love you President Jokowi but I'm not using Bukalapak again”

Another Twitter user stated to the CEO “Aren't you lucky you live in the Jokowi era. Under previous Presidents you would have disappeared and never been seen again".



This is truly a wonderful country. Jokowi and his team deserve the attention of western business and International investment.

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