by Chris Black
No lies detected here.
The reason these companies are doing this is because BlackRock and Vanguard are pushing this “ESG” program on them, which involves going full anal.
Billionaire “Shark Tank” star Mark Cuban said companies embracing “woke” ideology is just “good business,” pushing back against those who say it’s adversely affecting their bottom lines.
In an interview with the Pittsburgh Post-Gazette on Sunday, the Dallas Mavericks owner spoke about the ongoing backlash against companies like Anheuser-Busch and the Target Corporation for promoting LGBTQ+ ideologies in their brands.
Since promoting what many consider “woke” agendas, both companies have suffered massive losses worth billions of dollars.
While experts and industry insiders have suggested that invoking politics led to this downturn, Cuban insisted that embracing wokeness is a positive trait.
“There is a reason almost all the top ten market cap companies in the US can be considered ‘woke.’ It’s good business,” he said.
Cuban explained, “Most CEOs have enough experience to know to just wait out the news cycle until they go to the next one.”
Here’s how this works: in the past, lenders would base their financing standards on good credit scores and the likelihood of return on investment.
If you had a business with a history of solid returns and worthy collateral then you would probably get whatever loans you needed.
Today, however, lenders are trying to set political and ideological terms for companies seeking to obtain financing.
You must signal your virtue to get access to money, and this includes supporting climate and carbon initiatives, reorganizing your labor based on diversity and inclusion rules, even promoting LGBT activism might be a big factor in your next infusion of cash.
The higher your ESG score, the more likely it is that you will qualify for access to debt.
When these private companies (Vanguard, BlackRock et al) own everything, everything will basically be exactly like communism, in that this tiny minority will own everything and the peasants will own nothing.
And you will be happy, and you will eat the bugs.
The only difference will be that under communism, everything wasn’t gay.
Plus, communist governments had some kind of responsibility to the population that these companies simply do not have.
This is what lolbertarians never understand: when you don’t have checks and balances on corporate power, corporations will consolidate, and you will end up with a situation that is literally the same thing as communism.
I don’t know why that confuses libertarians so much, other than because they are a cult.