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Possibly the opposite. A successful business turns into being the right brand?

As one example, I can't think of a more generic name than Southwest Airlines, but somehow they've managed to brand themselves as the fun airline. With a little more effort, I'm sure even better examples could be identified. Coca-cola? McDonald's? Meaningless names.

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Just playing devil's advocate here, but are you sure that the same sort of start-up culture pervaded the industry when these single-letter-NYSE companies formed (some over a century ago)? Don't you think that the presence of mass media (specifically internet presence) has greatly changed the importance of a name?

Yes and no. Look at magazine ads from the 1920s. No shortage of awesome sounding names peddling crap.

same sort of start-up culture pervaded the industry

I'd say that's the problem right there. Shouldn't the importance of a name be relevant to the customers and not the founders? :)

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