# Quickbooks missed a golden opportunity to market itself with the FTX saga.

**Published by:** [Durwin](https://paragraph.com/@durwin/)
**Published on:** 2023-01-10
**URL:** https://paragraph.com/@durwin/quickbooks-missed-a-golden-opportunity-to-market-itself-with-the-ftx-saga

## Content

QuickBooks could have milked the publicity and brought in some dollars.Did you hear about FTX using QuickBooks for their accounting? It’s not often that a company gets a chance to ride the media wave and supercharge their publicity. QuickBooks should have leaned heavily on this and double up their marketing effort. It is not every day that you get such attention in such a manner. Imagine the entire world watching the FTX saga unfold. The new CEO of FTX takes over and goes on the record at a congressional hearing. Every media worth a dime was there. “They used QuickBooks! A multibillion-dollar company using QuickBooks! Nothing against QuickBooks. A very nice tool, but not for a billion-dollar company.”John, the new FTX CEO, unknowingly gave a free promotional shoutout to QuickBooks during his congressional hearing session.Boom. That is a golden chance of a lifetime right there. A beautiful window of opportunity to mega-accelerate QuickBooks’ brand exposure instantly. The media exposure is priceless. Everyone was talking about it. Those who didn’t even know what QuickBooks was, are either curiously googling for it or asking their friends about it. QuickBooks should have spammed ads and bought out billboards to ride the opportunity.The memes were so funny though.Hell, even making memes and spreading them on social media would have increased brand awareness like crazy. Such opportunities don’t come often. Remember, any form of marketing is good. Even bad publicity can be a good thing. FTX didn’t do anything wrong by using QuickBooks. What they did wrong was not adjusting to the situation and adapting when their startup grew into a behemoth.Enron, one of the biggest corporate collapses ever, had liabilities of $23B. FTX liabilities are slated to be more than $50B. This might be the biggest fraud case of all time indeed.QuickBooks was agile, simple to set up and suited their needs perfectly when FTX was a small startup that was still growing its customer base. When their customer base ballooned to a million users, there was no way QuickBooks would have sufficed. With the amount of trades done per day, and the sheer amount of monies going through their exchange, the number of line items would have been insane. They would definitely have needed some custom software to handle such complexities. Aren’t you glad that we live in an era where Congressional hearings can provide the exposure, education and even entertainment in such matters? - Should Quickbooks have capitalised on the FTX saga? -#startups #business #startupx #growth #success #socialmedia #culture #entrepreneurship #strategy #eth #btc #crypto #sifutoken #quickbooks #opportunity #profits #meme #ceo #defi

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