Does Your Startup's ‘Authenticity’ Matter?

Emmet McGonagle

November 28, 2023

Here’s hoping your business’ origin story hasn’t been embellished too much - Merriam-Webster has chosen “authentic” as its word of the year for 2023.


The word - which according to the Oxford Dictionary means “of undisputed origin; genuine” - is being celebrated by the publisher in light of what Merriam-Webster has referred to as a “crisis of authenticity”.


Merriam-Webster’s choice was celebrated by 

Dylan H, founder of REACH, who said via LinkedIn: “Now, as we navigate an era where AI blurs the lines between real and virtual, maintaining authenticity becomes both a challenge and an opportunity for creators.”


On the topic, he continued: “In my own journey with REACH, I've seen how authenticity builds a community that's resilient and supportive. 


“Whether it's bringing members to red carpet events or fostering a platform where young creatives can learn and grow, the core has always been about genuine, impactful experiences.”


However, not everyone resonates with Merriam-Webster‘s word for the year 2023.


Reid Litman, global consulting director at Ogilvy, explained: “‘Authenticity’ has lost all meaning - it's become a Gen Z buzz word for those not exactly sure what they want to say.”


The Ogilvy global consulting director elaborated: “Gen Z craves brands that act more like ever-evolving characters with a POV and publicly facing leaders than it does brands that cling to PowerPoint brand guidelines.”


Likewise Brendan Gahan, former chief innovation officer at Mekanism, said: “Not a fan of Merriam-Webster's selection of ‘authentic’ as its word of the year.”


“It certainly reflects today's challenges with AI and misinformation. But, in the creator landscape, this term's usage is often overused. So much so, its become a platitude largely devoid of meaning.” he added.


Instead, Brendan suggests the word is related to ‘one's personality or character’, rendering ‘authentic’ as a vague umbrella-term which doesn’t embody a successful founders’ “spectrum of traits, with authenticity being just one facet.”


Other words of distinction from 2023 include “deepfake,” “dystopian,” “indict,” “coronation” and “X”, in light of Elon Musk’s ill-fated Twitter rebrand.


The word follows “gaslighting”, which was Merriam-Webster’s word of the year in 2022.


Do you have a question about angel investing? Get in touch with Valhalla Private Capital via our contact page. 

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More than half of workers believe that disclosing worker compensation details on job postings will lead to better equality in pay, according to the latest iteration of LinkedIn’s Workforce Confidence Index . The index - which is based on a survey of 3,302 members in Canada between June and September 2023 - found that 52% of people asked felt that people sharing their pay information (including salary and bonus) would improve workplace equality, compared to 48% in 2022. This number varies between different generations, with younger Canadians more likely to express support for pay transparency (73%), followed by 69% of Millennials, 46% of Gen X and 44% of Baby Boomers. However, 37% of those surveyed remarked that they felt anxious about sharing their pay information - a 2% rise from the year prior. Likewise, just under half (49%) said they felt well compensated for the work they do while 74% expressed that the pay gap between CEOs and employees had become too wide. The people of LinkedIn have come out in their dozens to give their two cents on the topic, with Adrienne Tom , executive resume writer for executives, saying: “ I'm all for salary transparency, so long as the number is clear and legit. Some postings list salary ranges so wide that the actual salary number isn't entirely clear, leaving job seekers confused.” “If you have a manager who is not advocating for the pay gap, you are working for the wrong manager,” remarked career strategist Sweta Regmi , while noting that women in Ontario earn an average of $0.87 for every dollar earned by men. On the topic, she added: “Salary ranges with job postings can help close the gender pay gap while allowing companies to find qualified candidates more quickly.” Do you have a question about angel investing? Get in touch with Valhalla Private Capital via our contact page .
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