33.7 million customers. One breach. $1.2 billion in damage control.
Last November, South Korea's largest retailer, Coupang, publicly announced the exposure of the personal data of 33.7 million customers, equivalent to nearly two-thirds of the country's population.
The CEO resigned in December. Korean authorities launched investigations. Customer trust…built over years…evaporated overnight.
This is the brutal asymmetry of trust:
Trust is earned in DROPS and lost in BUCKETS.
Every kept promise, every honest conversation…each commitment honored represents deposits into the ‘trust account.’
The thing is, just like consistent small money deposits into a bank account, it takes time for these deposits to compound and accumulate—they’re drops in the bucket.
One significant breach? The bucket tips.
It took Coupang 15 years to build its customer base. With a single breach, it immediately lost nearly a million daily active users. The stock price dropped by 17%.
Years and years to build—destroyed in a heartbeat.
This is how trust works. It’s true in business, in families...in every relationship and interaction between human beings.
🎯 GO HERE to discover the First Principles (the 4 C-s) of TRUST:
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