In 1904, a fire broke out on a steamboat full of families enjoying a ride along New York City’s East River. The panicked passengers quickly discovered they had an even bigger problem on their hands - the ship’s life preservers. The safety equipment turned an emergency into a catastrophe. When you run a business, you build relationships with other businesses. They become your vendors and suppliers. But what happens when these third parties make decisions that put your customers and your business at risk? We talk with Edward T. O’Donnell, author of Ship Ablaze: The Tragedy of the Steamboat General Slocum, and Matt Moog, General Manager of Third Party Risk Management at OneTrust, to find out how an untrustworthy vendor can sink your brand and your business. For more about Trustonomy: https://link.chtbl.com/TrustonomyEpisode1?sid=YouTube 0:00 - Introducing the General Slocum accident 2:55 - What happened on the General Slocum 15:25 - What can it teach us about assessing risk 24:16 - Conclusion #Trustonomy #Podcast #TrustIntelligence Build Trust. Demonstrate Impact. https://www.onetrust.com/ Follow us! LinkedIn: https://www.linkedin.com/company/onetrust/ Twitter: https://twitter.com/OneTrust Facebook: https://www.facebook.com/officialonetrust Instagram: https://www.instagram.com/officialonetrust/