During a recent interview, the recently hired CEO of WeightWatchers described the company as “a technology company”. Wait…what? I’ve never been involved with WW, but have had family and friends who’ve been members. For as long as I can remember, WW has been a membership based weight loss and dieting company that used had weekly “weigh ins” at your local WW support group, a point system to determine what you should eat, and a number of pretty unappealing WW branded foods. None of the people I knew lost weight and kept it off.
So when I hear the CEO say they were a tech company, my reaction was “Bullshit!” This is just some kind of marketing spin to try to get the company stock valued at a higher multiple. Apparently, it’s not just her BS.In their 2022 10K filing it states “We are a human-centric technology company powered by our proven, science-based, clinically effective weight loss and weight management program and an award-winning digital subscription platform.“
Wow. And here I (and the rest of the world) thought WeightWatchers was a diet company.
It reminds me of when I joined a company called ARC back in 2001. The CEO and the Director who interviewed told me that ARC was a “consulting services and solutions company”. I was was hired specifically to sell technology consulting projects to businesses.
ARC was a staffing company. Plain and simple. They staffed some tech people at IBM and Coca Cola (entry and midlevel mostly). They staffed call centers for cruise lines and airlines. They did not sell consulting solutions, unless you twist it to say that providing a body, interviewing them and placing them is a solution.
The company went bankrupt and folded within a few years. I was long gone by then.
I’ve heard CEOs spin BS many times. They do it so frequently, that I generally avoid listening to any of their interviews. When it comes to manipulating the truth, they are as bad as marketing people.
You know what it really makes me think? Do any of them truly believe anyone is buying their BS?
They know they’re lying. Their employees know they are lying. The public knows they are lying.
But, what I don’t question is why they bother to lie at all. I already know that answer.
It’s in their best self interest. All you have to do is follow the money. Between salary, stock options, bonuses and buyouts, CEOs can make a bundle by spinning the truth.
I would never have been able to do this well.