In The End of Reputation, Seth Godin offers examples of new types of fraud and explains how they erode trust.
Of course, fraud itself is not new. In the markets of 1,000 years ago, merchants used rigged scales and weights to defraud their customers. It was difficult to uncover the fraud back then, as it is today. Once uncovered, the merchant lost his reputation, as he does today.
A bad reputation destroys trust, which is the currency of business. No one wants to do business with someone they don’t trust. In a low-trust industry, buyers flock to the one who restores trust. This is why people left taxis for Uber, and then Uber for Lyft.
There has never been a better time to work on your reputation.