Chatting with Jessi Hempel of Fortune

I had a great chat with Jessi Hempel of Fortune yesterday at the Web2Expo show in New York. 

Jesse was literally the first person I talked to when I got to the show and asked this.

"How do you think recent events on Wall Street will impact Web 2.0 and Social media in that space" I am paraphrasing what I heard.  Jessi was referring to the AIG bailout and the overnight vaporization of Lehman Brothers.

Great question and one I wasn't expecting it at the show. Who knows if my response will make it to print, but let me net out what I said since I think it applies to a lot of businesses.

Undoubtedly, news like this causes an industry to freeze spending.  I think some companies that are about to dive into this will have their attention diverted to answering some questions about their own health.  I think that will be brief, and a theme will arise out of it.  "Communication".

Companies will need to discuss potential new regulatory issues, they'll want to make sure they have lots of open dialogue with their customers, staff and partners.  They'll realize that social media platforms solve a lot of this and this space will be a hotbed of activity.  Just like the the Tylenol tampering  years ago created a whole lot of dialog on what was being done to fix the problem, there will be lots of need for communication.

That being said, I have a client call with a gigantic financial services company tomorrow, so maybe that industry is more forward thinking that I am giving them credit for.  What do you think?

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