Parody Of Enron Relaunch Makes Waves On Social Media

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Julia Smith

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Julia is an experienced editor with a passion for covering a wide variety of beats. She loves all things politics and regularly covers regulatory updates on emerging technology here for Crypto News.

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enron corporation, decentralized technology, Kenneth lay

Enron, The Kenneth Lay-founded failed energy corporation, announced its plans to relaunch while hinting at decentralized technology during an apparent parody stunt that shook up social media on Monday.

Decentralized Technology Mentioned By Enron Corporation Stunt

According to a December 2 press release, the parody claims that the once-bankrupt organization will begin a “new chapter” as 2024 comes to an end—one that supposedly includes decentralized technology.

“We are dedicated to solving the global energy crisis,” Enron said in a statement.“With a bold new vision, Enron will leverage cutting-edge technology, human ingenuity, and the spirit of adaptation to address the critical challenges of energy sustainability, accessibility, and affordability.”

In a video shared to X by Enron, the company said it was ready to “lead by example,” while a countdown on its website claims that it has “something very special to introduce” in seven days.

The Houston-based company also announced five “key pillars” to guide business operations, including adaptation as strength, forgiveness and progress, leadership by example, solving the energy crisis, and a nod to cryptocurrencies with the incorporation of permissionless innovation.

“Decentralized technology is advancing, and we will of course have a role to play in its future,” Enron stated.

Kenneth Lay-founded Company’s Questionable Comeback

However, not all were convinced of its official relaunch, with Intelligencer’s Matt Stieb uncovering that the company’s logo is owned by one of the performance artists behind Birds Aren’t Real, a stunt satirizing the ludicrousness of governmental conspiracy theories.

For instance, the website itself features highly overpriced merchandise with vague statements, suggesting it could be a method for capitalizing on the logo itself.

Similarly, frequent typos and mindless jargon frequent the website, with two of its company values simply labeled as “nice” and “repentant.”

However comedic, the second iteration of Enron is sure to be marred with controversy, as the company name is effectively synonymous with financial woe following its 2001 bankruptcy that rocked the nation.

Current FTX CEO John Jay Ray III notably led Enron from the ashes during its lengthy bankruptcy process, calling the FTX collapse worse than the energy giant’s.

“Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here,” Ray wrote in a 2022 court filing. “From compromised systems integrity and faulty regulatory oversight abroad to the concentration of control in the hands of a very small group of inexperienced, unsophisticated, and potentially compromised individuals, this situation is unprecedented.”

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