while i think this selloff is a bit ridiculous, i do still think there is a fundamental...
while i think this sell-off is a bit ridiculous, i do still think there is a fundamental problem when a company that wants to be the place for reviews and tell small business owners how to handle reviews, cannot even handle its own online reputation and satisfy its users. Denials and clarifications are not the way to deal with these comments. Action is required. Tesla for example proactively chose to outfit all their cars (old and new) with upgraded chargers and underbody protection to protect against fire concerns. Yelp needs to show that they are taking business users' concerns into account and take some real steps to soften those concerns. This has to be both with sales practices and their review system which really is consumer focused more than for business.
You hit the nail on the head. The #1 complaint I've read from business owners is a lack of a response from yelp, or if they even respond at all, a canned response. This is from both owners who pay yelp to advertise and those who don't. Paying businesses get mad when their complaints are not responded to, because they feel it's owed to them. Nonpaying businesses are not responded to and feel it's because they're not paying yelp.
Yelp's held town meetings around different cities (which should tell you something right there..damage control).
Yelp's uses are also starting to revolt - Elite vs non and people feeling like their reviews do not matter unless they're elite - which I mentioned a long while back - Elite reviews are not filtered. Ever.
in my experience, the only reviews that are routinely filtered are those of new users that don't continue posting reviews or adding friends. you don't have to be elite. you just have to be active, not post from a business location. and maybe there's some other things. but it's mostly just about being active.