LONDON: The CEO of a leading US public relations firm has said that
PR must take its share of the blame for the dot-com crash.
Speaking at a PRWeek conference in London, Richard Edelman, CEO of
Edelman Worldwide, said that while the advertising industry had been
given 'a bloody nose,' PR was a partner in the 'gold rush' mentality,
creating 'hype and buzz at all cost ... failing to demand accountability
and to test the claims.'
'I think the PR industry has a really important role in this too,'
Edelman admonished. 'I'm not sure that without the hype and press these
guys would have spent the dough.'
He added that there will have to be a new level of accountability in the
industry because of the tech collapse: 'We have to hold ourselves up to
a higher standard, demand better writing and more facts and not fall
back on press agentry.'