If you don’t shape the narrative, someone else will.

You might think silence is strategic. Maybe you're waiting for a result, a deal to close, or the “right moment” to speak to the market.

But the market doesn’t wait. It fills in the gaps for you. And if you’re not shaping the narrative around your company, someone else is—and they’re probably not getting it right.

Perception is Reality 

Investors rarely judge your company purely on its fundamentals. They respond to how those fundamentals are framed. This is called the Framing Effect—a concept in behavioural science first introduced by Daniel Kahneman and Amos Tversky. Their research found that people make different decisions based on how the same information is presented. For example:

• “90% survival rate” feels reassuring.
• “10% mortality rate” feels risky.

Same data. Different framing.

The takeaway? How you communicate matters as much as what you communicate.

How this plays out

 Let’s say your cash balance dropped because of a deliberate investment in growth.

• If you frame it as: “A short-term dip to fund expansion into a $1B market,” you’re driving the narrative.
• If you say nothing, investors may frame it as: “Cash burn—red flag.”

Same facts. Different framing.

If you don’t explain the why, someone else will invent it. That’s when rumours, misinterpretations, or forum speculation start shaping your valuation.

 What you should do about it

 1. Don’t Go Quiet Between News.

You don’t need material news to communicate. Use “soft” updates—updates, newsletters, webinars—to reinforce your narrative. Keep your story warm.

2. Frame Performance in Context.

Always answer the silent question investors are asking: “Is this good or bad?”

Don’t just say what happened—explain why it matters and how it fits into the bigger picture.

3. Repeat Yourself on Purpose

You may be tired of telling the same story. Your investors aren’t. Repetition builds recognition. Recognition builds trust.

The Framing Effect isn’t a trick—it’s a reality of human psychology. If you don’t frame your own story, someone else will. And in public markets, that can cost you real value.

Take one recent company development—positive or neutral—and ask yourself:

✅ Have I clearly explained the why behind it?
✅ Have I framed it in a way that aligns with our long-term narrative?
✅ Have I repeated it across multiple channels?

If not, that’s your next investor message.

If this is something you need help with, speak to your dedicated CSM or reply to this email to discuss your messaging.

Cheers,

Dylan