In 2017, a publicly traded beverage company called the Long Island Iced Tea Corp. announced that it was renaming itself Long Blockchain Corp. They gave no justification for the pivot.
But based on the name change alone to replace ‘iced tea’ with ‘blockchain,’ their stock price surged 380%. Temporarily, that is – their stock was later delisted.
That’s an extreme (and silly) example of a company of claiming to be ‘buzzword-first,’ using the hype of a new technology without connecting the dots to how that technology might uniquely further the company’s strategy.”
