Social media is about interacting with people, but it’s also about occasionally sticking a finger in the air and seeing which way the wind is blowing. JPMorgan Chase doesn’t seem to have done that prior to announcing a Twitter Q-and-A session with one of its top deal makers, Jimmy Lee. J.P. Morgan was an underwriter for Twitter’s initial public offering last week, and the banking giant seemed to be trying to seize the moment. J.P. Morgan teased the session, which would have been Thursday afternoon and used the hashtag #AskJPM, for a week.
— J.P. Morgan (@jpmorgan) November 7, 2013
— J.P. Morgan (@jpmorgan) November 11, 2013
The New York Times interviewed “a person briefed on the matter,” who said the intent of the Q-and-A was for Lee to offer career advice to students. Twitter being Twitter, however, students weren’t the only ones to chime in. According to The Telegraph, two-thirds of the 80,000 tweets directed at J.P. Morgan were negative. Topics included the so-called London Whale, foreclosures, and general avarice. So Wednesday evening, almost a full day before the Q-and-A was set to happen, the firm axed it.
Tomorrow’s Q&A is cancelled. Bad Idea. Back to the drawing board.
— J.P. Morgan (@jpmorgan) November 14, 2013
Of course, you can’t kill a hashtag. #AskJPM was still going strong Thursday morning with even more questions such as these:
#askJPM What metrics do you use for bribes? $ billions saved/# of Four Seasons lunches? # of reg settlements/cushy post-gov’t job arranged?
— Yves Smith (@yvessmith) November 14, 2013
So, what’s the best way to run a corrupt corporation without any kind of conscience? #AskJPM
— Rod Green (@thetheRedundant) November 14, 2013
#AskJPM Without fraud, manipulation, payoffs, coerced government and corrupt laws, bribes, ZIRP and insider trading could you make a profit?
— Au_Canary (@Au_Canary) November 14, 2013
It doesn’t look like #AskJPM is going anywhere, at least not until Twitter critics and comedians tire of it.
— Rhonda Rondeau (@rondata) November 14, 2013
Brands: Think before you hashtag. (Image via)