Jim Cramer and Salesforce.com chief Marc Benioff discuss whether companies like Facebook can redeem themselves after breaching consumers’ trust.
Companies that don’t value trust as a top priority are going to have trouble keeping their customers moving forward, Salesforce.com chief Marc Benioff told CNBC’s Jim Cramer in a wide-ranging interview Tuesday.
Asked on “Mad Money” whether a company like Facebook can redeem itself following its breach of consumer trust, Benioff said that the table stakes for consumer-facing technology companies have fundamentally changed.
“Every company has to hold themselves to a new level of trust, and if your brand is not about trust, you’re going to have customer issues, and you can see that in that brand,” said Benioff, the co-founder, chairman and co-CEO of Salesforce.
Concerns around privacy and data usage have weighed on shares of big-cap tech companies including Google parent Alphabet as investors and consumers alike heard more about the eerily common practice of companies selling user information to third parties.
